Z 
7.74
-0.26%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.52bn
FY2016FY2025
Net income
CN¥54.3m
FY2016FY2025
Free cash flow
CN¥35.8m
FY2016FY2025
Shareholders' equity
CN¥3.92bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.52bn | CN¥1.64bn | CN¥1.69bn | CN¥1.93bn | CN¥2.25bn | CN¥1.83bn | CN¥2.63bn | CN¥2.92bn | CN¥2.46bn | CN¥2.16bn |
| Gross profit | CN¥323.8m | CN¥192.7m | CN¥76.5m | CN¥7.5m | CN¥364.6m | CN¥434.3m | CN¥817.8m | CN¥1.09bn | CN¥772.0m | CN¥740.3m |
| Research and development | CN¥62.3m | CN¥63.7m | CN¥81.3m | CN¥90.1m | CN¥107.9m | CN¥97.1m | CN¥111.2m | CN¥126.6m | CN¥126.9m | CN¥119.1m |
| Operating income | CN¥14.7m | CN¥233.3m | −CN¥238.9m | −CN¥197.7m | CN¥187.9m | CN¥319.7m | CN¥525.2m | CN¥873.4m | CN¥512.1m | CN¥498.1m |
| Net income | CN¥54.3m | CN¥170.3m | −CN¥240.8m | −CN¥209.6m | CN¥136.4m | CN¥230.6m | CN¥434.5m | CN¥702.9m | CN¥397.4m | CN¥382.3m |
| Diluted earnings per share | 0.07 | 0.29 | -0.31 | -0.30 | 0.19 | 0.31 | 0.40 | 0.99 | 0.47 | 0.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.53bn | CN¥4.65bn | CN¥4.53bn | CN¥5.24bn | CN¥5.40bn | CN¥5.42bn | CN¥5.45bn | CN¥5.05bn | CN¥4.78bn | CN¥3.00bn |
| Cash and short-term investments | — | CN¥1.62bn | CN¥1.19bn | CN¥1.67bn | CN¥1.13bn | CN¥1.15bn | CN¥1.58bn | CN¥670.8m | CN¥943.1m | CN¥407.5m |
| Total liabilities | CN¥591.5m | CN¥717.4m | CN¥629.6m | CN¥1.04bn | CN¥883.1m | CN¥915.4m | CN¥852.2m | CN¥671.7m | CN¥653.4m | CN¥715.6m |
| Debt | — | CN¥120.6m | CN¥61.3m | CN¥267.6m | CN¥100.7m | CN¥79.0m | CN¥100.0m | — | CN¥59.3m | CN¥110.3m |
| Shareholders' equity | CN¥3.92bn | CN¥3.92bn | CN¥3.89bn | CN¥4.17bn | CN¥4.49bn | CN¥4.47bn | CN¥4.55bn | CN¥4.34bn | CN¥3.97bn | CN¥2.14bn |
| Shares outstanding | 783m | 588m | 770m | 701m | 736m | 736m | 1,093m | 712m | 841m | 546m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥49.2m | CN¥186.3m | −CN¥125.8m | −CN¥12.2m | −CN¥65.7m | CN¥122.5m | CN¥713.1m | CN¥406.1m | CN¥240.3m | CN¥532.9m |
| Capital spending | −CN¥13.4m | −CN¥28.9m | −CN¥62.5m | −CN¥97.4m | −CN¥61.2m | −CN¥59.1m | −CN¥71.0m | −CN¥27.7m | −CN¥105.1m | −CN¥92.4m |
| Free cash flow | CN¥35.8m | CN¥157.4m | −CN¥188.4m | −CN¥109.6m | −CN¥126.9m | CN¥63.4m | CN¥642.1m | CN¥378.5m | CN¥135.2m | CN¥440.4m |
| Dividends paid | −CN¥48.1m | −CN¥48.3m | −CN¥56.0m | −CN¥105.0m | −CN¥115.5m | −CN¥315.0m | −CN¥192.8m | −CN¥125.0m | −CN¥200.0m | −CN¥200.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥385.0m | CN¥411.4m | CN¥467.8m | CN¥346.7m | CN¥369.0m | CN¥340.3m | CN¥479.5m | CN¥391.9m |
| Gross profit | CN¥85.0m | CN¥65.2m | CN¥66.7m | CN¥46.8m | CN¥47.2m | CN¥28.7m | CN¥59.5m | CN¥67.5m |
| Operating income | CN¥41.7m | CN¥21.3m | CN¥25.1m | CN¥10.6m | CN¥29.3m | −CN¥25.2m | CN¥63.5m | CN¥29.0m |
| Net income | CN¥27.9m | CN¥18.3m | CN¥39.9m | CN¥11.0m | CN¥24.2m | −CN¥20.8m | CN¥42.1m | CN¥28.1m |
| Diluted earnings per share | 0.04 | 0.02 | 0.05 | 0.01 | 0.03 | -0.03 | 0.07 | 0.05 |
| Cash from operations | — | — | — | CN¥45.0m | CN¥55.0m | −CN¥31.0m | — | CN¥18.0m |
| Capital spending | −CN¥3.0m | −CN¥2.0m | −CN¥5.0m | −CN¥1.0m | −CN¥4.0m | −CN¥2.0m | −CN¥11.0m | −CN¥5.0m |
| Free cash flow | — | — | — | CN¥44.0m | CN¥51.0m | −CN¥33.0m | — | CN¥13.0m |
| Total assets | CN¥4.36bn | CN¥4.45bn | CN¥4.53bn | CN¥4.48bn | CN¥4.51bn | CN¥4.46bn | CN¥4.65bn | CN¥4.51bn |
| Cash and short-term investments | — | — | — | CN¥1.64bn | CN¥1.61bn | CN¥1.58bn | CN¥1.62bn | CN¥1.43bn |
| Debt | — | — | — | CN¥170.8m | CN¥170.1m | CN¥120.1m | CN¥120.0m | CN¥120.0m |
| Shareholders' equity | CN¥3.87bn | CN¥3.94bn | CN¥3.92bn | CN¥3.88bn | CN¥3.87bn | CN¥3.90bn | CN¥3.92bn | CN¥3.88bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 21.2% | 11.8% | 4.5% | 0.4% | 16.2% | 23.7% | — |
| Operating margin | 4.3% | 14.2% | -14.1% | -10.5% | 8.4% | 17.2% | — |
| Net margin | 3.6% | 10.4% | -14.2% | -10.9% | 6.1% | 12.6% | — |
| Return on equity | 1.4% | 4.3% | -6.2% | -5.0% | 3.0% | 5.2% | — |
| Return on assets | 1.2% | 3.7% | -5.3% | -4.0% | 2.5% | 4.3% | — |
| Free cash flow yield | 0.8% | 3.7% | -0.8% | 1.2% | -0.1% | 2.5% | — |
| Revenue growth | -7.0% | -3.1% | -12.4% | -14.3% | 23.0% | -30.4% | — |
| Earnings growth | -68.1% | -170.7% | 14.9% | -253.6% | -40.8% | -46.9% | — |
| Current ratio | 6.75x | 5.14x | 5.15x | 3.46x | 4.45x | 4.38x | — |
| Debt to equity | — | 0.03x | 0.02x | 0.06x | 0.02x | 0.02x | 0.02x |
| Equity ratio | 86.7% | 84.3% | 85.8% | 79.7% | 83.1% | 82.4% | — |
| Interest coverage | 81.41x | 71.64x | -48.86x | -24.35x | 43.34x | 62.88x | — |
| R&D as a share of sales | 4.1% | 3.9% | 4.8% | 4.7% | 4.8% | 5.3% | — |
| Buybacks as a share of market value | -33.1% | 23.6% | -9.8% | 4.8% | -0.0% | 32.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.6% | -3.6% | -6.3% |
| Operating income | — | -46.0% | -33.4% |
| Net income | — | -25.1% | -22.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.3% | 8.8% | 12.9% | 25.2% |
| Operating margin | 7.8% | -2.8% | 2.9% | 15.0% |
| Net margin | 7.1% | -3.3% | 1.3% | 11.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 72.7 | 15.1 | -14.9 | -15.6 | 34.1 | 20.7 | 20.8 | 6.1 | 22.3 |
| Price to sales | 2.6 | 1.6 | 2.1 | 1.7 | 2.1 | 2.6 | 3.4 | 1.5 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 11 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.147 | 0.07 | 0.07 | 0.08 | 0.15 | 0.165 | 0.45 | 0.321 |
- 7-for-5 split · 13 Jun 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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