J 
Jiangsu Maixinlin Aviation Science and Technology 688685.SS · CNY
Industrials · Shanghai · 🇨🇳 China
28.71
+1.95%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥576.8m
FY2017FY2025
Net income
CN¥55.9m
FY2017FY2025
Free cash flow
−CN¥77.1m
FY2017FY2025
Shareholders' equity
CN¥794.3m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥576.8m | CN¥476.8m | CN¥293.7m | CN¥324.0m | CN¥320.7m | CN¥288.6m | CN¥249.2m | CN¥183.4m | CN¥106.4m |
| Research and development | CN¥36.7m | CN¥30.1m | CN¥25.3m | CN¥20.5m | CN¥16.4m | CN¥16.5m | CN¥17.0m | CN¥14.9m | CN¥6.5m |
| Operating income | CN¥121.9m | CN¥69.3m | CN¥16.3m | CN¥49.0m | CN¥61.9m | CN¥60.8m | CN¥50.9m | CN¥23.0m | CN¥17.6m |
| Net income | CN¥55.9m | CN¥45.5m | CN¥15.2m | CN¥42.5m | CN¥51.0m | CN¥51.2m | CN¥42.2m | CN¥20.5m | CN¥16.2m |
| Diluted earnings per share | 0.36 | 0.30 | 0.08 | 0.29 | 0.36 | 0.45 | 0.37 | 0.13 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.75bn | CN¥2.17bn | CN¥867.7m | CN¥903.6m | CN¥866.4m | CN¥662.6m | CN¥638.6m | CN¥341.0m | CN¥298.8m |
| Cash and short-term investments | — | CN¥77.1m | CN¥94.5m | CN¥302.1m | CN¥334.1m | CN¥98.9m | CN¥170.6m | CN¥52.2m | CN¥65.0m |
| Total liabilities | CN¥1.89bn | CN¥1.37bn | CN¥165.0m | CN¥177.4m | CN¥181.0m | CN¥231.1m | CN¥261.6m | CN¥97.1m | CN¥76.9m |
| Debt | CN¥704.9m | CN¥787.8m | CN¥10.0m | CN¥21.3m | CN¥40.1m | CN¥93.3m | CN¥134.5m | CN¥36.3m | CN¥16.0m |
| Shareholders' equity | CN¥794.3m | CN¥741.1m | CN¥692.0m | CN¥709.6m | CN¥665.3m | CN¥414.3m | CN¥361.9m | CN¥231.5m | CN¥209.9m |
| Shares outstanding | 155m | 152m | 194m | 146m | 144m | 114m | 115m | 155m | 155m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥682.2m | −CN¥216.6m | CN¥26.8m | CN¥62.4m | CN¥118.3m | CN¥60.7m | CN¥51.1m | CN¥3.9m | CN¥10.9m |
| Capital spending | −CN¥759.3m | −CN¥613.5m | −CN¥176.3m | −CN¥76.6m | −CN¥38.0m | −CN¥81.4m | −CN¥145.1m | −CN¥53.7m | −CN¥28.4m |
| Free cash flow | −CN¥77.1m | −CN¥830.1m | −CN¥149.5m | −CN¥14.2m | CN¥80.3m | −CN¥20.7m | −CN¥94.0m | −CN¥49.8m | −CN¥17.5m |
| Dividends paid | −CN¥52.4m | −CN¥24.6m | −CN¥34.1m | −CN¥1.3m | −CN¥2.3m | −CN¥1.8m | −CN¥2.8m | −CN¥1.1m | −CN¥1.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥146.3m | CN¥121.8m | CN¥130.4m | CN¥159.0m | CN¥99.2m | CN¥188.2m | CN¥176.0m | CN¥114.8m |
| Operating income | CN¥25.2m | CN¥15.6m | −CN¥34.0m | CN¥18.3m | −CN¥2.3m | CN¥83.8m | CN¥33.0m | CN¥8.1m |
| Net income | CN¥8.1m | CN¥2.6m | −CN¥469,246 | CN¥15.3m | CN¥584,952 | CN¥40.5m | CN¥9.2m | CN¥7.5m |
| Diluted earnings per share | 0.05 | 0.02 | -0.00 | 0.10 | 0.00 | 0.26 | 0.06 | 0.05 |
| Cash from operations | — | — | — | CN¥224.0m | CN¥208.0m | −CN¥32.0m | — | CN¥22.0m |
| Capital spending | −CN¥322.0m | −CN¥132.0m | −CN¥165.0m | −CN¥44.0m | −CN¥206.0m | −CN¥342.0m | −CN¥191.0m | −CN¥44.0m |
| Free cash flow | — | — | — | CN¥180.0m | CN¥2.0m | −CN¥374.0m | — | −CN¥22.0m |
| Total assets | CN¥3.00bn | CN¥2.75bn | CN¥2.75bn | CN¥3.03bn | CN¥3.05bn | CN¥2.96bn | CN¥2.17bn | CN¥2.01bn |
| Cash and short-term investments | — | — | — | CN¥306.2m | CN¥366.4m | CN¥249.2m | CN¥77.1m | CN¥108.5m |
| Debt | CN¥593.1m | CN¥698.6m | CN¥704.9m | CN¥737.5m | CN¥1.46bn | CN¥1.34bn | CN¥780.1m | CN¥811.0m |
| Shareholders' equity | CN¥808.4m | CN¥801.0m | CN¥794.3m | CN¥826.3m | CN¥798.5m | CN¥796.6m | CN¥741.1m | CN¥721.6m |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.4% | 18.2% | 5.9% | 15.6% | 19.7% | 21.5% |
| Net margin | 9.7% | 9.6% | 5.2% | 13.1% | 15.9% | 17.7% |
| Return on equity | 7.0% | 6.1% | 2.2% | 6.0% | 7.7% | 12.4% |
| Return on assets | 2.0% | 2.1% | 1.8% | 4.7% | 5.9% | 7.7% |
| Free cash flow yield | 23.8% | 6.7% | 2.7% | 2.4% | 2.8% | 3.2% |
| Revenue growth | 21.0% | 62.3% | -9.4% | 1.0% | 11.1% | 15.8% |
| Earnings growth | 22.7% | 198.7% | -64.1% | -16.7% | -0.5% | 21.4% |
| Current ratio | 1.12x | 0.79x | 2.74x | 4.01x | 4.71x | 2.45x |
| Debt to equity | 0.89x | 1.05x | 0.01x | 0.03x | 0.06x | 0.23x |
| Equity ratio | 28.8% | 34.1% | 79.8% | 78.5% | 76.8% | 62.5% |
| Interest coverage | 2.63x | 4.97x | 29.58x | 37.63x | 27.23x | 34.54x |
| R&D as a share of sales | 6.4% | 6.3% | 8.6% | 6.3% | 5.1% | 5.7% |
| Buybacks as a share of market value | -1.8% | 21.7% | -33.0% | -1.6% | -26.1% | 1.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.2% | 14.9% | — |
| Operating income | 35.5% | 14.9% | — |
| Net income | 9.6% | 1.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 153.7 | 110.7 | 290.8 | 61.1 | 59.1 |
| Price to sales | 14.9 | 10.6 | 15.1 | 8.0 | 9.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 22 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.045 | 0.157 | 0.077 | 0.231 |
- 13-for-10 split · 20 Jun 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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