A 
39.21
-1.38%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.23bn
FY2016FY2025
Net income
CN¥1.07bn
FY2016FY2025
Free cash flow
CN¥737.4m
FY2016FY2025
Shareholders' equity
CN¥8.93bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.23bn | CN¥4.47bn | CN¥4.44bn | CN¥4.44bn | CN¥3.77bn | CN¥2.98bn | CN¥2.68bn | CN¥1.93bn | CN¥1.40bn | CN¥980.2m |
| Gross profit | CN¥2.77bn | CN¥2.89bn | CN¥2.83bn | CN¥2.60bn | CN¥2.22bn | CN¥1.76bn | CN¥1.77bn | CN¥1.27bn | CN¥944.9m | CN¥705.6m |
| Research and development | CN¥555.1m | CN¥731.9m | CN¥656.1m | CN¥568.5m | CN¥481.0m | CN¥342.8m | CN¥311.9m | CN¥212.7m | CN¥142.7m | CN¥103.9m |
| Operating income | CN¥1.23bn | CN¥1.15bn | CN¥1.37bn | CN¥1.30bn | CN¥1.08bn | CN¥856.4m | CN¥894.2m | CN¥629.9m | CN¥483.1m | CN¥394.4m |
| Net income | CN¥1.07bn | CN¥1.19bn | CN¥1.22bn | CN¥1.17bn | CN¥973.7m | CN¥747.8m | CN¥774.2m | CN¥562.6m | CN¥446.6m | CN¥349.8m |
| Diluted earnings per share | 1.87 | 2.08 | 2.10 | 1.99 | 1.67 | 1.34 | 1.42 | 1.03 | 0.81 | 0.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.29bn | CN¥11.88bn | CN¥11.55bn | CN¥10.47bn | CN¥9.23bn | CN¥8.14bn | CN¥4.26bn | CN¥2.66bn | CN¥2.19bn | CN¥1.82bn |
| Cash and short-term investments | — | CN¥4.04bn | CN¥4.52bn | CN¥1.14bn | CN¥776.7m | CN¥413.4m | CN¥257.0m | CN¥58.5m | CN¥26.9m | CN¥56.2m |
| Total liabilities | CN¥3.27bn | CN¥3.18bn | CN¥2.89bn | CN¥2.56bn | CN¥1.83bn | CN¥1.55bn | CN¥1.62bn | CN¥690.7m | CN¥497.8m | CN¥176.5m |
| Debt | — | CN¥253.0m | CN¥367.9m | CN¥132.5m | CN¥236.1m | CN¥200.1m | CN¥794.9m | CN¥96.9m | CN¥39.0m | — |
| Shareholders' equity | CN¥8.93bn | CN¥8.62bn | CN¥8.54bn | CN¥7.78bn | CN¥7.28bn | CN¥6.48bn | CN¥2.56bn | CN¥1.93bn | CN¥1.67bn | CN¥1.64bn |
| Shares outstanding | 571m | 574m | 581m | 586m | 584m | 558m | 544m | 548m | 554m | 497m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.34bn | CN¥1.31bn | CN¥1.47bn | CN¥1.56bn | CN¥1.46bn | CN¥994.7m | CN¥842.9m | CN¥653.7m | CN¥481.7m | CN¥415.8m |
| Capital spending | −CN¥604.3m | −CN¥664.4m | −CN¥900.4m | −CN¥938.3m | −CN¥1.07bn | −CN¥1.12bn | −CN¥762.1m | −CN¥410.2m | −CN¥455.2m | −CN¥237.4m |
| Free cash flow | CN¥737.4m | CN¥644.9m | CN¥569.4m | CN¥620.1m | CN¥395.4m | −CN¥120.7m | CN¥80.8m | CN¥243.6m | CN¥26.6m | CN¥178.4m |
| Dividends paid | −CN¥726.7m | −CN¥623.4m | −CN¥479.1m | −CN¥418.9m | −CN¥383.3m | −CN¥387.5m | −CN¥336.0m | −CN¥305.9m | −CN¥424.8m | −CN¥3.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.07bn | CN¥992.2m | CN¥1.10bn | CN¥1.07bn | CN¥1.06bn | CN¥995.9m | CN¥1.09bn | CN¥1.17bn |
| Gross profit | CN¥722.7m | CN¥661.2m | CN¥746.7m | CN¥699.9m | CN¥650.6m | CN¥648.1m | CN¥662.6m | CN¥796.4m |
| Operating income | CN¥285.5m | CN¥250.9m | CN¥261.9m | CN¥275.4m | CN¥272.3m | CN¥303.5m | CN¥181.4m | CN¥375.0m |
| Net income | CN¥260.7m | CN¥236.4m | CN¥208.5m | CN¥288.5m | CN¥301.1m | CN¥269.9m | CN¥238.3m | CN¥336.7m |
| Diluted earnings per share | 0.46 | 0.41 | 0.36 | 0.50 | 0.53 | 0.47 | 0.41 | 0.59 |
| Cash from operations | — | — | — | CN¥435.0m | CN¥243.0m | CN¥166.0m | — | CN¥453.0m |
| Capital spending | −CN¥93.0m | −CN¥133.0m | −CN¥139.0m | −CN¥138.0m | −CN¥179.0m | −CN¥146.0m | −CN¥123.0m | −CN¥158.0m |
| Free cash flow | — | — | — | CN¥297.0m | CN¥64.0m | CN¥20.0m | — | CN¥295.0m |
| Total assets | CN¥11.78bn | CN¥12.24bn | CN¥12.29bn | CN¥11.73bn | CN¥11.65bn | CN¥11.97bn | CN¥11.88bn | CN¥11.39bn |
| Cash and short-term investments | — | — | — | CN¥882.9m | CN¥888.1m | CN¥463.9m | CN¥469.0m | CN¥832.2m |
| Debt | — | — | — | CN¥829.9m | CN¥113.7m | CN¥322.0m | CN¥232.4m | CN¥253.7m |
| Shareholders' equity | CN¥8.67bn | CN¥9.16bn | CN¥8.93bn | CN¥8.75bn | CN¥8.46bn | CN¥8.88bn | CN¥8.62bn | CN¥8.40bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 65.6% | 64.6% | 63.7% | 58.5% | 59.0% | 59.2% | — |
| Operating margin | 29.1% | 25.8% | 30.7% | 29.2% | 28.6% | 28.8% | — |
| Net margin | 25.3% | 26.7% | 27.4% | 26.3% | 25.9% | 25.1% | — |
| Return on equity | 12.0% | 13.9% | 14.3% | 15.0% | 13.4% | 11.5% | — |
| Return on assets | 8.7% | 10.1% | 10.5% | 11.1% | 10.5% | 9.2% | — |
| Free cash flow yield | 10.1% | 10.2% | 12.1% | 12.7% | 12.9% | 11.2% | — |
| Revenue growth | -5.5% | 0.6% | 0.0% | 17.9% | 26.5% | 11.1% | — |
| Earnings growth | -10.6% | -1.9% | 4.3% | 19.9% | 30.2% | -3.4% | — |
| Current ratio | 2.40x | 2.46x | 2.66x | 2.89x | 3.81x | 4.05x | — |
| Debt to equity | — | 0.03x | 0.04x | 0.11x | 0.01x | 0.03x | 0.31x |
| Equity ratio | 72.6% | 72.6% | 73.9% | 74.3% | 78.8% | 79.6% | — |
| Interest coverage | 88.16x | 50.37x | 53.85x | 59.11x | 82.66x | 28.54x | — |
| R&D as a share of sales | 13.1% | 16.4% | 14.8% | 12.8% | 12.8% | 11.5% | — |
| Buybacks as a share of market value | 0.5% | 1.2% | 0.9% | -0.4% | -4.7% | -2.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.6% | 7.3% | 19.4% |
| Operating income | -1.7% | 7.5% | 14.7% |
| Net income | -2.9% | 7.4% | 14.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 65.1% | 63.1% | 62.0% | 63.3% |
| Operating margin | 27.4% | 28.7% | 28.7% | 30.3% |
| Net margin | 26.0% | 26.4% | 26.2% | 27.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.0 | 21.0 | 27.2 | 31.1 | 33.0 | 83.3 | 52.1 | 36.6 | 51.5 | 61.3 |
| Price to sales | 4.8 | 5.6 | 7.5 | 8.2 | 8.5 | 20.9 | 15.1 | 10.7 | 16.4 | 21.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 1 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.31 | 1.26 | 1.052 | 0.80 | 0.72 | 0.654 | 0.692 | 0.615 |
- 13-for-10 split · 27 May 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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