C 
4.00
-0.74%
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¥14.71bn
FY2016FY2025
Net income
−CN¥1.71bn
FY2016FY2025
Free cash flow
−CN¥289.4m
FY2016FY2025
Shareholders' equity
CN¥1.21bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.71bn | CN¥18.30bn | CN¥31.99bn | CN¥38.47bn | CN¥14.54bn | CN¥12.30bn | CN¥14.06bn | CN¥8.95bn | CN¥5.79bn | CN¥4.73bn |
| Gross profit | −CN¥1.2m | CN¥1.39bn | CN¥1.62bn | CN¥5.17bn | CN¥3.33bn | CN¥3.26bn | CN¥3.57bn | CN¥2.76bn | CN¥1.72bn | CN¥1.01bn |
| Research and development | CN¥412,811 | CN¥17.2m | CN¥3.8m | CN¥4.9m | — | — | — | — | — | — |
| Operating income | −CN¥897.8m | −CN¥5.69bn | −CN¥163.3m | CN¥3.79bn | CN¥2.79bn | CN¥2.93bn | CN¥2.76bn | CN¥1.54bn | CN¥1.32bn | CN¥58.0m |
| Net income | −CN¥1.71bn | −CN¥5.18bn | −CN¥1.67bn | CN¥1.02bn | CN¥739.2m | CN¥896.0m | CN¥1.12bn | CN¥809.9m | CN¥617.2m | CN¥115.9m |
| Diluted earnings per share | -2.29 | -6.93 | -2.41 | 1.47 | 1.07 | 1.28 | 1.88 | 1.65 | 1.06 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.38bn | CN¥107.70bn | CN¥122.64bn | CN¥137.31bn | CN¥141.96bn | CN¥99.50bn | CN¥47.49bn | CN¥40.23bn | CN¥32.72bn | CN¥23.95bn |
| Cash and short-term investments | — | CN¥8.65bn | CN¥12.01bn | CN¥10.48bn | CN¥12.37bn | CN¥11.53bn | CN¥7.89bn | CN¥6.20bn | CN¥5.01bn | CN¥3.37bn |
| Total liabilities | CN¥1.15bn | CN¥96.66bn | CN¥104.97bn | CN¥118.27bn | CN¥124.02bn | CN¥86.61bn | CN¥41.23bn | CN¥36.00bn | CN¥28.98bn | CN¥19.76bn |
| Debt | — | CN¥16.10bn | CN¥26.86bn | CN¥43.21bn | CN¥51.47bn | CN¥37.93bn | CN¥13.21bn | CN¥10.98bn | CN¥11.17bn | CN¥7.30bn |
| Shareholders' equity | CN¥1.21bn | −CN¥3.58bn | CN¥1.62bn | CN¥3.29bn | CN¥3.26bn | CN¥3.06bn | CN¥2.73bn | CN¥2.28bn | CN¥2.10bn | CN¥2.59bn |
| Shares outstanding | 747m | 747m | 695m | 695m | 692m | 702m | 596m | 492m | 584m | 580m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥277.7m | CN¥3.17bn | CN¥7.15bn | CN¥2.93bn | −CN¥4.45bn | −CN¥18.74bn | −CN¥4.61bn | CN¥5.80bn | −CN¥3.61bn | −CN¥2.02bn |
| Capital spending | −CN¥11.7m | −CN¥21.8m | −CN¥46.0m | −CN¥50.9m | −CN¥74.1m | −CN¥27.0m | −CN¥24.8m | −CN¥17.0m | −CN¥42.2m | −CN¥14.5m |
| Free cash flow | −CN¥289.4m | CN¥3.15bn | CN¥7.10bn | CN¥2.88bn | −CN¥4.53bn | −CN¥18.77bn | −CN¥4.64bn | CN¥5.78bn | −CN¥3.66bn | −CN¥2.04bn |
| Dividends paid | −CN¥873.6m | −CN¥1.75bn | −CN¥2.48bn | −CN¥27.8m | −CN¥34.8m | −CN¥53.5m | −CN¥89.2m | −CN¥1.24bn | −CN¥1.36bn | −CN¥254.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥429.2m | CN¥348.2m | CN¥413.8m | CN¥1.05bn | CN¥1.48bn | CN¥11.75bn | CN¥6.65bn | CN¥2.67bn |
| Gross profit | CN¥76.3m | CN¥57.0m | CN¥37.1m | −CN¥96.9m | −CN¥49.3m | CN¥92.7m | CN¥713.2m | CN¥265.5m |
| Operating income | CN¥36.9m | CN¥14.1m | −CN¥2.0m | −CN¥338.8m | −CN¥707.4m | −CN¥304.7m | −CN¥4.36bn | −CN¥87.7m |
| Net income | CN¥14.9m | CN¥3.4m | −CN¥49.3m | CN¥6.01bn | −CN¥686.8m | −CN¥493.1m | −CN¥3.65bn | −CN¥550.8m |
| Diluted earnings per share | 0.02 | 0.00 | -0.07 | 8.04 | -0.92 | -0.66 | -4.88 | -0.74 |
| Cash from operations | — | — | — | −CN¥389.0m | CN¥410.0m | −CN¥105.0m | CN¥2.21bn | CN¥245.0m |
| Capital spending | −CN¥1.0m | −CN¥66.0m | −CN¥5.0m | −CN¥3.0m | −CN¥1.0m | −CN¥2.0m | −CN¥6.0m | −CN¥2.0m |
| Free cash flow | — | — | — | −CN¥392.0m | CN¥409.0m | −CN¥107.0m | CN¥2.21bn | CN¥243.0m |
| Total assets | CN¥2.50bn | CN¥2.33bn | CN¥2.38bn | CN¥2.26bn | CN¥96.62bn | CN¥98.31bn | CN¥107.70bn | CN¥116.92bn |
| Cash and short-term investments | — | — | — | CN¥1.08bn | CN¥8.84bn | CN¥9.73bn | CN¥8.65bn | CN¥9.94bn |
| Debt | — | — | — | CN¥32.1m | CN¥35.58bn | CN¥39.96bn | CN¥16.10bn | CN¥50.07bn |
| Shareholders' equity | CN¥1.23bn | CN¥1.21bn | CN¥1.21bn | CN¥1.25bn | −CN¥4.76bn | −CN¥4.07bn | −CN¥3.58bn | CN¥520.3m |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | -0.0% | 7.6% | 5.1% | 13.4% | 22.9% | 26.5% | — |
| Operating margin | -4.8% | -31.8% | -6.8% | 7.7% | 17.5% | 23.4% | — |
| Net margin | -11.6% | -28.3% | -5.2% | 2.7% | 5.1% | 7.3% | — |
| Return on equity | -141.5% | 144.7% | -103.6% | 31.0% | 22.7% | 29.3% | — |
| Return on assets | -71.9% | -4.8% | -1.4% | 0.7% | 0.5% | 0.9% | — |
| Free cash flow yield | -8.1% | 97.5% | 235.7% | 97.8% | -144.0% | -607.6% | — |
| Revenue growth | -19.6% | -42.8% | -16.8% | 164.5% | 18.2% | -12.5% | — |
| Earnings growth | -67.0% | 209.6% | -263.7% | 38.3% | -17.5% | -20.1% | — |
| Current ratio | 1.86x | 1.66x | 1.92x | 1.76x | 1.70x | 2.18x | — |
| Debt to equity | — | -4.50x | 16.62x | 7.78x | 15.44x | 10.55x | 6.33x |
| Equity ratio | 50.8% | -3.3% | 1.3% | 2.4% | 2.3% | 3.1% | — |
| Interest coverage | -0.71x | -48.92x | -2.11x | 3.85x | 2.59x | 2.56x | — |
| R&D as a share of sales | 0.0% | 0.1% | 0.0% | 0.0% | — | — | — |
| Buybacks as a share of market value | 0.0% | -7.4% | 0.0% | -0.4% | 1.3% | -17.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -27.4% | 3.6% | 29.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.2% | 7.9% | 11.3% | 14.6% |
| Operating margin | -19.9% | -2.9% | 2.1% | 5.1% |
| Net margin | -20.9% | -7.3% | -4.5% | -1.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.4 | -1.2 | -4.1 | 12.2 | 6.0 | 5.2 | 2.9 | 2.9 | 6.5 | 41.6 |
| Price to sales | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.4 | 0.2 | 0.3 | 0.7 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.04 | 0.05 | 0.085 | 0.122 | 0.289 | 0.011 | 0.011 |
- 6-for-5 split · 27 Jun 2019
- 3-for-2 split · 22 Jun 2018
- 1-to-1 reverse split · 29 Apr 2010
- 1-to-1 reverse split · 17 Apr 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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