C 
3.19
-1.54%
Close of 9 Nov 2026, in CNY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥233.43bn
FY2016FY2025
Net income
−CN¥88.56bn
FY2016FY2025
Free cash flow
−CN¥4.18bn
FY2016FY2025
Shareholders' equity
CN¥116.91bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥233.43bn | CN¥343.18bn | CN¥465.74bn | CN¥503.84bn | CN¥452.80bn | CN¥419.11bn | CN¥367.89bn | CN¥297.68bn | CN¥242.90bn | CN¥240.48bn |
| Gross profit | CN¥22.09bn | CN¥34.91bn | CN¥70.96bn | CN¥98.52bn | CN¥98.82bn | CN¥122.57bn | CN¥133.34bn | CN¥111.58bn | CN¥82.82bn | CN¥70.73bn |
| Research and development | CN¥444.0m | CN¥507.8m | CN¥536.0m | CN¥685.9m | CN¥642.4m | CN¥665.7m | CN¥1.07bn | CN¥946.1m | CN¥613.3m | CN¥613.3m |
| Operating income | — | −CN¥45.64bn | CN¥34.65bn | CN¥54.76bn | CN¥52.53bn | CN¥79.96bn | CN¥76.61bn | CN¥67.50bn | CN¥55.20bn | CN¥41.56bn |
| Net income | −CN¥88.56bn | −CN¥49.48bn | CN¥12.16bn | CN¥22.69bn | CN¥22.52bn | CN¥41.52bn | CN¥38.87bn | CN¥33.77bn | CN¥28.05bn | CN¥21.02bn |
| Diluted earnings per share | -7.42 | -4.17 | 1.03 | 1.96 | 1.94 | 3.56 | 3.44 | 3.06 | 2.53 | 1.89 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.02trn | CN¥1.29trn | CN¥1.50trn | CN¥1.76trn | CN¥1.94trn | CN¥1.87trn | CN¥1.73trn | CN¥1.55trn | CN¥1.17trn | CN¥830.67bn |
| Cash and short-term investments | — | CN¥88.34bn | CN¥99.83bn | CN¥137.23bn | CN¥149.37bn | CN¥195.40bn | CN¥177.93bn | CN¥200.32bn | CN¥174.12bn | CN¥95.70bn |
| Total liabilities | CN¥784.76bn | CN¥947.41bn | CN¥1.10trn | CN¥1.35trn | CN¥1.55trn | CN¥1.52trn | CN¥1.46trn | CN¥1.32trn | CN¥978.67bn | CN¥669.00bn |
| Debt | — | CN¥380.06bn | CN¥341.66bn | CN¥338.16bn | CN¥292.79bn | CN¥285.31bn | CN¥281.50bn | CN¥262.87bn | CN¥193.96bn | CN¥132.47bn |
| Shareholders' equity | CN¥116.91bn | CN¥202.67bn | CN¥250.78bn | CN¥243.33bn | CN¥235.95bn | CN¥224.51bn | CN¥188.06bn | CN¥155.76bn | CN¥132.68bn | CN¥113.44bn |
| Shares outstanding | 11,931m | 11,858m | 11,858m | 11,558m | 11,625m | 11,647m | 11,307m | 11,044m | 11,069m | 11,120m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥988.1m | CN¥3.80bn | CN¥3.91bn | CN¥2.75bn | CN¥4.11bn | CN¥53.19bn | CN¥45.69bn | CN¥33.62bn | CN¥82.32bn | CN¥39.57bn |
| Capital spending | −CN¥3.20bn | −CN¥4.52bn | −CN¥8.44bn | −CN¥12.83bn | −CN¥9.58bn | −CN¥7.21bn | −CN¥6.24bn | −CN¥5.90bn | −CN¥2.36bn | −CN¥2.15bn |
| Free cash flow | −CN¥4.18bn | −CN¥719.8m | −CN¥4.53bn | −CN¥10.08bn | −CN¥5.46bn | CN¥45.98bn | CN¥39.44bn | CN¥27.72bn | CN¥79.96bn | CN¥37.42bn |
| Dividends paid | −CN¥12.57bn | −CN¥13.29bn | −CN¥22.13bn | −CN¥23.57bn | −CN¥26.85bn | −CN¥27.24bn | −CN¥25.68bn | −CN¥23.90bn | −CN¥15.93bn | −CN¥12.72bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥41.24bn | CN¥28.93bn | CN¥72.04bn | CN¥56.07bn | CN¥67.33bn | CN¥37.99bn | CN¥123.28bn | CN¥77.12bn |
| Gross profit | CN¥2.92bn | CN¥2.65bn | CN¥6.62bn | CN¥4.97bn | CN¥8.18bn | CN¥2.32bn | CN¥14.02bn | CN¥9.31bn |
| Operating income | CN¥300.0m | −CN¥1.03bn | −CN¥262.8m | −CN¥11.23bn | −CN¥2.16bn | −CN¥6.66bn | −CN¥30.98bn | −CN¥6.94bn |
| Net income | −CN¥9.00bn | −CN¥5.95bn | −CN¥60.54bn | −CN¥16.07bn | −CN¥5.70bn | −CN¥6.25bn | −CN¥31.54bn | −CN¥8.09bn |
| Diluted earnings per share | -0.75 | -0.50 | -5.07 | -1.35 | -0.48 | -0.52 | -2.66 | -0.68 |
| Cash from operations | — | — | — | −CN¥1.48bn | CN¥2.75bn | −CN¥5.79bn | CN¥8.65bn | CN¥328.0m |
| Capital spending | −CN¥48.0m | −CN¥463.0m | −CN¥540.0m | −CN¥1.44bn | −CN¥411.0m | −CN¥801.0m | −CN¥406.0m | −CN¥1.65bn |
| Free cash flow | — | — | — | −CN¥2.92bn | CN¥2.34bn | −CN¥6.59bn | CN¥8.24bn | −CN¥1.32bn |
| Total assets | CN¥959.76bn | CN¥997.41bn | CN¥1.02trn | CN¥1.14trn | CN¥1.19trn | CN¥1.24trn | CN¥1.29trn | CN¥1.36trn |
| Cash and short-term investments | — | — | — | CN¥65.69bn | CN¥74.02bn | CN¥75.52bn | CN¥88.34bn | CN¥79.76bn |
| Debt | CN¥139.51bn | CN¥159.77bn | CN¥168.48bn | CN¥151.39bn | CN¥217.44bn | CN¥228.67bn | CN¥218.97bn | CN¥219.50bn |
| Shareholders' equity | CN¥102.18bn | CN¥110.54bn | CN¥116.91bn | CN¥175.76bn | CN¥191.44bn | CN¥196.73bn | CN¥202.67bn | CN¥234.12bn |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 9.5% | 10.2% | 15.2% | 19.6% | 21.8% | 29.2% | — |
| Operating margin | — | -13.3% | 7.4% | 10.9% | 11.6% | 19.1% | 20.8% |
| Net margin | -37.9% | -14.4% | 2.6% | 4.5% | 5.0% | 9.9% | — |
| Return on equity | -75.8% | -24.4% | 4.8% | 9.3% | 9.5% | 18.5% | — |
| Return on assets | -8.7% | -3.8% | 0.8% | 1.3% | 1.2% | 2.2% | — |
| Free cash flow yield | 6.1% | 23.2% | 34.5% | 44.6% | 39.0% | 171.7% | — |
| Revenue growth | -32.0% | -26.3% | -7.6% | 11.3% | 8.0% | 13.9% | — |
| Earnings growth | 79.0% | -506.8% | -46.4% | 0.7% | -45.7% | 6.8% | — |
| Current ratio | 1.23x | 1.28x | 1.40x | 1.31x | 1.22x | 1.17x | — |
| Debt to equity | 1.44x | 1.08x | 1.03x | 1.04x | 0.94x | 0.89x | — |
| Equity ratio | 11.5% | 15.8% | 16.7% | 13.8% | 12.2% | 12.0% | — |
| Interest coverage | — | -7.27x | 7.15x | 9.30x | 6.68x | 9.13x | 8.28x |
| R&D as a share of sales | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | — |
| Buybacks as a share of market value | -0.6% | 0.0% | -2.6% | 0.6% | 0.2% | -3.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.6% | -11.0% | 1.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.9% | 14.6% | 18.5% | 24.0% |
| Net margin | -23.9% | -6.7% | -1.6% | 2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.6 | -1.7 | 10.2 | 9.3 | 10.2 | 8.1 | 9.4 | 7.8 | 12.3 | 10.9 |
| Price to sales | 0.2 | 0.3 | 0.3 | 0.4 | 0.5 | 0.8 | 1.0 | 0.9 | 1.4 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Aug 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.68 | 0.976 | 1.25 | 1.017 | 1.045 | 0.90 | 0.79 | 0.72 |
- 8-for-5 split · 16 Jun 2008
- 3-for-2 split · 16 May 2007
- 3-for-2 split · 29 Jun 2005
- 3-for-2 split · 26 May 2004
- 2-for-1 split · 23 May 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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