Z 
6.10
-0.33%
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¥458.6m
FY2016FY2025
Net income
−CN¥549.4m
FY2016FY2025
Free cash flow
−CN¥94.4m
FY2016FY2025
Shareholders' equity
CN¥1.32bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥458.6m | CN¥431.6m | CN¥420.0m | CN¥132.5m | CN¥198.7m | CN¥169.2m | CN¥425.3m | CN¥468.4m | CN¥549.6m | CN¥592.2m |
| Gross profit | CN¥79.6m | CN¥62.8m | CN¥45.5m | −CN¥133.0m | −CN¥43.7m | −CN¥21.3m | CN¥127.2m | CN¥147.6m | CN¥170.0m | CN¥233.8m |
| Operating income | −CN¥16.7m | −CN¥568.0m | −CN¥190.7m | −CN¥272.1m | −CN¥161.4m | −CN¥104.1m | CN¥31.5m | CN¥39.2m | CN¥88.4m | CN¥92.4m |
| Net income | −CN¥549.4m | −CN¥582.1m | −CN¥239.3m | −CN¥259.8m | −CN¥135.2m | −CN¥92.2m | CN¥11.1m | CN¥26.4m | CN¥67.4m | CN¥61.2m |
| Diluted earnings per share | -1.91 | -1.44 | -0.67 | -0.61 | -0.35 | -0.23 | 0.04 | 0.09 | 0.18 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.89bn | CN¥2.09bn | CN¥2.69bn | CN¥2.86bn | CN¥2.84bn | CN¥2.80bn | CN¥2.67bn | CN¥2.50bn | CN¥2.34bn | CN¥2.04bn |
| Cash and short-term investments | — | CN¥72.0m | CN¥91.5m | CN¥27.4m | CN¥12.3m | CN¥40.3m | CN¥130.9m | CN¥119.0m | CN¥183.5m | CN¥119.7m |
| Total liabilities | CN¥1.57bn | CN¥1.80bn | CN¥1.82bn | CN¥1.75bn | CN¥1.47bn | CN¥1.28bn | CN¥1.06bn | CN¥909.9m | CN¥775.0m | CN¥1.36bn |
| Debt | CN¥830.3m | CN¥895.8m | CN¥1.30bn | CN¥1.22bn | CN¥1.01bn | CN¥849.3m | CN¥576.9m | CN¥487.2m | CN¥144.0m | CN¥518.1m |
| Shareholders' equity | CN¥1.32bn | CN¥289.6m | CN¥868.5m | CN¥1.11bn | CN¥1.37bn | CN¥1.51bn | CN¥1.60bn | CN¥1.58bn | CN¥1.55bn | CN¥669.9m |
| Shares outstanding | 288m | 403m | 356m | 425m | 387m | 407m | 260m | 294m | 372m | 325m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥45.4m | CN¥90.1m | CN¥74.3m | −CN¥15.7m | −CN¥12.4m | −CN¥21.6m | CN¥155.8m | CN¥147.5m | CN¥122.3m | CN¥132.5m |
| Capital spending | −CN¥139.8m | −CN¥37.6m | −CN¥30.3m | −CN¥113.1m | −CN¥123.2m | −CN¥304.4m | −CN¥211.2m | −CN¥544.6m | −CN¥650.7m | −CN¥579.7m |
| Free cash flow | −CN¥94.4m | CN¥52.5m | CN¥44.0m | −CN¥128.8m | −CN¥135.6m | −CN¥326.1m | −CN¥55.4m | −CN¥397.1m | −CN¥528.3m | −CN¥447.2m |
| Dividends paid | −CN¥29.1m | −CN¥37.3m | −CN¥58.9m | −CN¥58.1m | −CN¥47.7m | −CN¥36.1m | −CN¥26.8m | −CN¥13.3m | −CN¥48.1m | −CN¥17.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥145.0m | CN¥66.9m | CN¥122.0m | CN¥142.8m | CN¥134.8m | CN¥59.0m | CN¥121.4m | CN¥136.2m |
| Gross profit | CN¥39.7m | CN¥6.8m | CN¥16.5m | CN¥37.0m | CN¥29.2m | −CN¥3.2m | CN¥6.9m | CN¥38.9m |
| Operating income | CN¥13.9m | −CN¥14.3m | −CN¥20.0m | CN¥16.7m | CN¥540,981 | −CN¥30.5m | −CN¥517.6m | CN¥5.6m |
| Net income | CN¥2.3m | CN¥306.0m | −CN¥527.0m | CN¥10.9m | −CN¥2.0m | −CN¥31.2m | −CN¥517.4m | −CN¥3.6m |
| Diluted earnings per share | 0.01 | 1.06 | -1.83 | 0.04 | -0.01 | -0.11 | -1.28 | -0.01 |
| Cash from operations | — | — | — | CN¥40.0m | CN¥31.0m | −CN¥30.0m | — | CN¥49.0m |
| Capital spending | — | −CN¥50.0m | −CN¥92.0m | −CN¥23.0m | −CN¥7.0m | −CN¥16.0m | — | −CN¥5.0m |
| Free cash flow | — | — | — | CN¥17.0m | CN¥24.0m | −CN¥46.0m | — | CN¥44.0m |
| Total assets | CN¥2.50bn | CN¥2.60bn | CN¥2.89bn | CN¥2.10bn | CN¥2.09bn | CN¥2.08bn | CN¥2.09bn | CN¥2.59bn |
| Cash and short-term investments | — | — | — | CN¥77.8m | CN¥69.8m | CN¥46.8m | CN¥72.0m | CN¥64.2m |
| Debt | CN¥156.0m | CN¥242.1m | CN¥830.3m | CN¥586.2m | CN¥848.4m | CN¥908.5m | CN¥870.7m | CN¥968.0m |
| Shareholders' equity | CN¥1.82bn | CN¥1.82bn | CN¥1.32bn | CN¥267.8m | CN¥256.6m | CN¥258.6m | CN¥289.6m | CN¥806.2m |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.3% | 14.5% | 10.8% | -100.4% | -22.0% | -12.6% |
| Operating margin | -111.0% | -120.6% | -31.3% | -162.8% | -68.1% | -60.0% |
| Net margin | -119.8% | -134.9% | -57.0% | -196.1% | -68.0% | -54.5% |
| Return on equity | -41.7% | -201.0% | -27.6% | -23.4% | -9.9% | -6.1% |
| Return on assets | -19.0% | -27.9% | -8.9% | -9.1% | -4.8% | -3.3% |
| Free cash flow yield | 9.7% | 4.8% | 4.4% | 3.5% | 4.3% | 10.5% |
| Revenue growth | 6.3% | 2.8% | 217.0% | -33.3% | 17.4% | -60.2% |
| Earnings growth | -5.6% | 143.2% | -7.9% | 92.2% | 46.6% | -934.0% |
| Current ratio | 2.84x | 0.14x | 0.20x | 0.10x | 0.21x | 0.48x |
| Debt to equity | 0.63x | 3.01x | 1.47x | 1.08x | 0.73x | 0.52x |
| Equity ratio | 45.6% | 13.9% | 32.3% | 38.7% | 48.1% | 54.1% |
| Interest coverage | -16.51x | -10.53x | -2.15x | -3.61x | -4.67x | -22.74x |
| Buybacks as a share of market value | 28.6% | -13.1% | 16.2% | -10.0% | 5.0% | -56.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 51.3% | 22.1% | -3.8% |
| Operating income | -60.5% | -30.6% | — |
| Net income | 28.4% | 42.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.0% | 3.8% | -0.6% | 21.2% |
| Operating margin | -65.7% | -72.6% | -72.5% | -20.0% |
| Net margin | -127.1% | -113.0% | -102.6% | -34.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.1 | -4.3 | -9.7 | -14.7 | -16.3 | -21.3 | 122.5 | 54.0 | 47.2 | 64.9 |
| Price to sales | 4.9 | 5.8 | 5.5 | 28.8 | 11.1 | 11.6 | 3.2 | 3.0 | 5.8 | 6.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2017.
| FY2017 | FY2003 | |
|---|---|---|
| Paid in the year | 0.084 | 0.025 |
- 1-to-1 reverse split · 8 Jun 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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