T 
2.01
-0.99%
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¥54.26bn
FY2016FY2025
Net income
−CN¥784.4m
FY2016FY2025
Free cash flow
−CN¥1.92bn
FY2016FY2025
Shareholders' equity
CN¥2.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥54.26bn | CN¥55.23bn | CN¥54.60bn | CN¥61.88bn | CN¥70.57bn | CN¥68.56bn | CN¥65.34bn | CN¥5.70bn | CN¥5.99bn | CN¥1.58bn |
| Gross profit | CN¥5.56bn | CN¥6.53bn | CN¥6.83bn | CN¥5.62bn | CN¥6.67bn | CN¥7.72bn | CN¥4.09bn | −CN¥1.18bn | −CN¥446.2m | CN¥15.9m |
| Research and development | CN¥1.29bn | CN¥1.32bn | CN¥1.32bn | CN¥1.24bn | CN¥1.32bn | CN¥1.95bn | CN¥1.39bn | CN¥116.1m | CN¥93.5m | CN¥251.4m |
| Operating income | CN¥4.8m | CN¥740.8m | CN¥1.05bn | CN¥687.3m | CN¥1.77bn | CN¥1.67bn | −CN¥8.35bn | −CN¥1.63bn | CN¥43.7m | −CN¥494.0m |
| Net income | −CN¥784.4m | CN¥93.5m | CN¥277.6m | CN¥86.7m | CN¥532.2m | CN¥745.8m | −CN¥5.36bn | −CN¥987.4m | CN¥11.6m | CN¥23.6m |
| Diluted earnings per share | -0.17 | 0.02 | 0.06 | 0.02 | 0.12 | 0.16 | -1.18 | -0.22 | 0.00 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥34.61bn | CN¥34.56bn | CN¥33.73bn | CN¥35.20bn | CN¥41.39bn | CN¥36.03bn | CN¥21.47bn | CN¥32.19bn | CN¥33.78bn | CN¥33.79bn |
| Cash and short-term investments | — | CN¥4.52bn | CN¥4.35bn | CN¥4.56bn | CN¥3.53bn | CN¥5.62bn | CN¥856.5m | CN¥2.24bn | CN¥1.87bn | CN¥1.67bn |
| Total liabilities | CN¥27.05bn | CN¥25.14bn | CN¥24.52bn | CN¥26.60bn | CN¥34.09bn | CN¥30.01bn | CN¥14.42bn | CN¥15.46bn | CN¥15.42bn | CN¥15.49bn |
| Debt | CN¥820.3m | CN¥4.37bn | CN¥3.11bn | CN¥7.53bn | CN¥6.71bn | CN¥3.73bn | CN¥6.61bn | CN¥9.33bn | CN¥9.64bn | CN¥10.53bn |
| Shareholders' equity | CN¥2.03bn | CN¥2.98bn | CN¥2.92bn | CN¥2.65bn | CN¥2.02bn | CN¥1.51bn | CN¥4.15bn | CN¥9.80bn | CN¥10.78bn | CN¥10.77bn |
| Shares outstanding | 4,530m | 4,534m | 4,530m | 4,539m | 4,521m | 4,526m | 4,531m | 4,428m | 4,507m | 4,543m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥1.02bn | −CN¥376.9m | CN¥2.79bn | CN¥4.56bn | −CN¥4.07bn | CN¥5.88bn | CN¥637.3m | CN¥1.37bn | CN¥736.1m | CN¥890.6m |
| Capital spending | −CN¥901.2m | −CN¥950.8m | −CN¥832.3m | −CN¥1.54bn | −CN¥1.94bn | −CN¥1.71bn | −CN¥564.7m | −CN¥1.08bn | −CN¥1.73bn | −CN¥5.68bn |
| Free cash flow | −CN¥1.92bn | −CN¥1.33bn | CN¥1.95bn | CN¥3.02bn | −CN¥6.01bn | CN¥4.17bn | CN¥72.6m | CN¥296.7m | −CN¥998.5m | −CN¥4.79bn |
| Dividends paid | −CN¥316.6m | −CN¥334.8m | −CN¥271.3m | −CN¥230.7m | −CN¥128.6m | −CN¥177.6m | −CN¥17.0m | −CN¥403.6m | −CN¥419.4m | −CN¥10.0m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.68bn | CN¥14.04bn | CN¥12.60bn | CN¥15.36bn | CN¥13.95bn | CN¥12.68bn | CN¥12.26bn | CN¥14.16bn |
| Gross profit | CN¥1.18bn | CN¥1.43bn | CN¥1.06bn | CN¥1.60bn | CN¥1.46bn | CN¥1.10bn | CN¥1.21bn | CN¥1.59bn |
| Operating income | −CN¥111.9m | CN¥69.7m | −CN¥273.9m | CN¥331.5m | −CN¥51.0m | −CN¥518.3m | −CN¥271.0m | CN¥245.9m |
| Net income | −CN¥196.5m | −CN¥116.7m | −CN¥282.9m | −CN¥182.8m | −CN¥109.4m | −CN¥322.4m | −CN¥169.8m | CN¥13.5m |
| Diluted earnings per share | -0.04 | -0.03 | -0.06 | -0.04 | -0.02 | -0.07 | -0.04 | 0.00 |
| Cash from operations | — | — | — | — | −CN¥1.51bn | −CN¥1.35bn | −CN¥409.0m | CN¥1.16bn |
| Capital spending | −CN¥232.0m | −CN¥182.0m | −CN¥202.0m | −CN¥268.0m | −CN¥311.0m | −CN¥126.0m | −CN¥194.0m | −CN¥248.0m |
| Free cash flow | — | — | — | — | −CN¥1.82bn | −CN¥1.47bn | −CN¥603.0m | CN¥912.0m |
| Total assets | CN¥42.63bn | CN¥39.81bn | CN¥37.85bn | CN¥34.61bn | CN¥37.34bn | CN¥36.05bn | CN¥35.11bn | CN¥34.56bn |
| Cash and short-term investments | — | — | — | — | CN¥3.38bn | CN¥3.68bn | CN¥4.42bn | CN¥4.52bn |
| Debt | CN¥1.47bn | CN¥1.39bn | CN¥1.12bn | CN¥820.3m | CN¥12.32bn | CN¥6.51bn | CN¥5.51bn | CN¥4.19bn |
| Shareholders' equity | CN¥1.42bn | CN¥1.67bn | CN¥1.80bn | CN¥2.03bn | CN¥2.31bn | CN¥2.45bn | CN¥2.84bn | CN¥2.98bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.2% | 11.8% | 12.5% | 9.1% | 9.4% | 11.3% |
| Operating margin | 0.0% | 1.3% | 2.6% | 1.1% | 2.5% | 2.4% |
| Net margin | -1.4% | 0.2% | 0.5% | 0.1% | 0.8% | 1.1% |
| Return on equity | -38.7% | 3.1% | 9.5% | 3.3% | 26.3% | 49.4% |
| Return on assets | -2.3% | 0.3% | 0.8% | 0.2% | 1.3% | 2.1% |
| Free cash flow yield | -1.2% | 5.8% | 36.7% | 61.7% | -21.6% | 76.9% |
| Revenue growth | -1.8% | 1.2% | -11.8% | -12.3% | 2.9% | 4.9% |
| Earnings growth | -938.9% | -66.3% | 220.2% | -83.7% | -28.6% | -113.9% |
| Current ratio | 1.09x | 1.12x | 1.15x | 1.11x | 1.07x | 1.17x |
| Debt to equity | 0.41x | 1.41x | 1.00x | 1.69x | 2.44x | 1.16x |
| Equity ratio | 5.9% | 8.6% | 8.7% | 7.5% | 4.9% | 4.2% |
| Interest coverage | 0.01x | 1.41x | 3.10x | 1.73x | 4.83x | 1.93x |
| R&D as a share of sales | 2.4% | 2.4% | 2.4% | 2.0% | 1.9% | 2.8% |
| Buybacks as a share of market value | 0.1% | -0.1% | 0.2% | -0.4% | 0.1% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.3% | -4.6% | 46.9% |
| Operating income | -80.8% | -68.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.0% | 10.9% | 10.7% | 9.3% |
| Operating margin | 0.7% | 1.1% | 1.6% | -1.0% |
| Net margin | -0.6% | -0.1% | 0.3% | -1.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -14.7 | 134.8 | 43.7 | 103.1 | 25.6 | 14.3 | -1.8 | -6.6 | — | — |
| Price to sales | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.1 | 1.1 | 1.8 | 9.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Aug 2005.
| FY2005 | FY2003 | FY2002 | FY2001 | FY2000 | |
|---|---|---|---|---|---|
| Paid in the year | 0.025 | 0.04 | 0.05 | 0.05 | 0.05 |
- 2-for-1 split · 24 Jun 2016
- 1-to-1 reverse split · 9 May 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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