R 
1.86
-1.06%
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¥5.56bn
FY2016FY2025
Net income
−CN¥1.15bn
FY2016FY2025
Free cash flow
CN¥1.36bn
FY2016FY2025
Shareholders' equity
CN¥4.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.56bn | CN¥23.98bn | CN¥22.33bn | CN¥14.16bn | CN¥18.18bn | CN¥11.18bn | CN¥6.66bn | CN¥3.97bn | CN¥4.26bn | CN¥1.73bn |
| Gross profit | CN¥484.3m | CN¥937.5m | CN¥2.31bn | CN¥2.83bn | CN¥3.34bn | CN¥2.97bn | CN¥2.77bn | CN¥1.35bn | CN¥1.06bn | CN¥420.0m |
| Research and development | CN¥6.3m | CN¥10.6m | CN¥22.1m | CN¥38.1m | CN¥34.9m | CN¥68.7m | — | — | — | — |
| Operating income | CN¥153.0m | −CN¥1.53bn | CN¥911.5m | CN¥1.26bn | CN¥1.65bn | CN¥2.29bn | CN¥2.14bn | CN¥711.0m | CN¥655.7m | CN¥197.0m |
| Net income | −CN¥1.15bn | −CN¥1.73bn | CN¥357.5m | CN¥630.9m | CN¥1.09bn | CN¥1.74bn | CN¥1.89bn | CN¥608.5m | CN¥541.8m | CN¥148.9m |
| Diluted earnings per share | -0.36 | -0.55 | 0.11 | 0.20 | 0.34 | 0.55 | 0.59 | 0.19 | 0.17 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.71bn | CN¥19.01bn | CN¥48.32bn | CN¥73.34bn | CN¥83.41bn | CN¥67.77bn | CN¥40.01bn | CN¥24.32bn | CN¥13.20bn | CN¥11.11bn |
| Cash and short-term investments | — | CN¥2.23bn | CN¥4.61bn | CN¥8.40bn | CN¥9.83bn | CN¥8.68bn | CN¥7.00bn | CN¥1.79bn | CN¥827.8m | CN¥793.2m |
| Total liabilities | CN¥6.58bn | CN¥12.54bn | CN¥38.66bn | CN¥62.55bn | CN¥68.61bn | CN¥57.24bn | CN¥33.26bn | CN¥19.55bn | CN¥8.96bn | CN¥7.43bn |
| Debt | CN¥979.4m | CN¥2.35bn | CN¥4.90bn | CN¥11.10bn | CN¥17.07bn | CN¥15.98bn | CN¥8.92bn | CN¥4.99bn | CN¥3.15bn | CN¥2.00bn |
| Shareholders' equity | CN¥4.67bn | CN¥5.82bn | CN¥8.57bn | CN¥9.18bn | CN¥9.13bn | CN¥8.21bn | CN¥6.70bn | CN¥4.75bn | CN¥4.22bn | CN¥3.68bn |
| Shares outstanding | 3,184m | 3,176m | 3,183m | 3,182m | 3,183m | 3,191m | 3,185m | 3,184m | 3,191m | 3,183m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.36bn | CN¥2.00bn | CN¥2.43bn | CN¥10.48bn | −CN¥403.5m | −CN¥10.73bn | CN¥467.8m | −CN¥2.72bn | −CN¥261.8m | CN¥181.5m |
| Capital spending | −CN¥1.3m | −CN¥1.0m | −CN¥1.4m | −CN¥6.9m | −CN¥7.2m | −CN¥9.2m | −CN¥6.0m | −CN¥11.4m | −CN¥5.1m | −CN¥2.5m |
| Free cash flow | CN¥1.36bn | CN¥1.99bn | CN¥2.43bn | CN¥10.47bn | −CN¥410.8m | −CN¥10.74bn | CN¥461.8m | −CN¥2.73bn | −CN¥266.9m | CN¥179.0m |
| Dividends paid | −CN¥154.3m | −CN¥465.6m | −CN¥984.2m | −CN¥509.4m | −CN¥111.4m | −CN¥318.4m | −CN¥593.4m | −CN¥360.7m | −CN¥141.8m | −CN¥216.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥503.9m | CN¥529.6m | CN¥1.02bn | CN¥644.4m | CN¥1.28bn | CN¥2.62bn | CN¥6.81bn | CN¥3.28bn |
| Gross profit | CN¥39.3m | CN¥30.0m | CN¥22.9m | −CN¥1.5m | CN¥254.4m | CN¥208.5m | −CN¥198.7m | CN¥189.8m |
| Operating income | −CN¥23.6m | −CN¥25.2m | CN¥37.9m | −CN¥109.4m | −CN¥24.0m | CN¥27.7m | −CN¥1.97bn | −CN¥75.6m |
| Net income | −CN¥128.2m | −CN¥28.5m | −CN¥1.08bn | −CN¥100.7m | CN¥17.1m | CN¥19.3m | −CN¥2.05bn | −CN¥146.0m |
| Diluted earnings per share | -0.04 | -0.01 | -0.34 | -0.03 | 0.01 | 0.01 | -0.65 | -0.05 |
| Cash from operations | — | — | — | CN¥342.0m | CN¥206.0m | CN¥361.0m | — | CN¥517.0m |
| Capital spending | — | — | — | −CN¥342.0m | — | — | — | — |
| Free cash flow | — | — | — | CN¥0 | — | — | — | — |
| Total assets | CN¥10.59bn | CN¥11.19bn | CN¥11.71bn | CN¥14.02bn | CN¥14.41bn | CN¥16.11bn | CN¥19.01bn | CN¥28.89bn |
| Cash and short-term investments | — | — | — | CN¥1.56bn | CN¥1.60bn | CN¥2.04bn | CN¥2.23bn | CN¥2.42bn |
| Debt | CN¥906.0m | CN¥930.8m | CN¥979.4m | CN¥593.9m | CN¥1.66bn | CN¥2.17bn | CN¥2.35bn | CN¥2.34bn |
| Shareholders' equity | CN¥4.52bn | CN¥4.64bn | CN¥4.67bn | CN¥5.75bn | CN¥5.85bn | CN¥5.84bn | CN¥5.82bn | CN¥7.87bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 8.7% | 3.9% | 10.3% | 20.0% | 18.3% | 26.6% |
| Operating margin | -19.9% | -5.7% | 4.7% | 10.0% | 9.4% | 22.3% |
| Net margin | -20.6% | -7.2% | 1.6% | 4.5% | 6.0% | 15.6% |
| Return on equity | -24.5% | -29.8% | 4.2% | 6.9% | 11.9% | 21.2% |
| Return on assets | -9.8% | -9.1% | 0.7% | 0.9% | 1.3% | 2.6% |
| Free cash flow yield | 20.8% | 30.5% | 37.1% | 160.0% | -6.0% | -163.1% |
| Revenue growth | -76.8% | 7.4% | 57.8% | -22.1% | 62.7% | 67.8% |
| Earnings growth | -33.8% | -584.2% | -43.3% | -41.9% | -37.7% | -7.7% |
| Current ratio | 1.81x | 1.62x | 1.29x | 1.27x | 1.34x | 1.39x |
| Debt to equity | 0.21x | 0.40x | 0.57x | 0.91x | 1.36x | 1.95x |
| Equity ratio | 39.9% | 30.6% | 17.7% | 12.5% | 11.0% | 12.1% |
| Interest coverage | -15.13x | -8.05x | 6.98x | 8.76x | 5.97x | 11.47x |
| R&D as a share of sales | 0.1% | 0.0% | 0.1% | 0.3% | 0.2% | 0.6% |
| Buybacks as a share of market value | -0.3% | 0.2% | -0.1% | 0.0% | 0.3% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.7% | -13.0% | 17.3% |
| Operating income | -50.5% | -41.8% | 2.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.8% | 9.9% | 13.5% | 16.6% |
| Operating margin | -4.7% | 1.2% | 5.0% | 7.6% |
| Net margin | -9.7% | -2.9% | 1.0% | 3.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.1 | -4.1 | 21.8 | 14.9 | 7.2 | 5.3 | 4.7 | 12.1 | 19.9 | 112.4 |
| Price to sales | 1.0 | 0.3 | 0.3 | 0.7 | 0.4 | 0.8 | 1.3 | 1.9 | 2.5 | 9.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Aug 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.32 | 0.32 | 0.16 | 0.035 | 0.10 | 0.02 | 0.03 | 0.05 |
- 1-to-1 reverse split · 6 Nov 2008
- 8-for-5 split · 28 May 2003
- 1.227-for-1 split · 28 Jun 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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