T 
3.22
-0.92%
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¥74.50bn
FY2016FY2025
Net income
−CN¥7.29bn
FY2016FY2025
Free cash flow
CN¥7.02bn
FY2016FY2025
Shareholders' equity
CN¥75.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥74.50bn | CN¥87.00bn | CN¥107.38bn | CN¥132.58bn | CN¥170.03bn | CN¥162.15bn | CN¥9.69bn | CN¥7.93bn | CN¥7.08bn | CN¥5.00bn |
| Gross profit | CN¥13.37bn | CN¥14.54bn | CN¥17.39bn | CN¥21.28bn | CN¥42.40bn | CN¥45.88bn | CN¥3.55bn | CN¥2.87bn | CN¥2.05bn | CN¥1.07bn |
| Research and development | CN¥1.24bn | CN¥1.90bn | CN¥2.38bn | CN¥1.91bn | CN¥1.80bn | CN¥757.3m | CN¥73.3m | CN¥189.6m | CN¥3.9m | CN¥3.9m |
| Operating income | CN¥2.73bn | CN¥21.8m | CN¥2.58bn | CN¥6.60bn | CN¥20.42bn | CN¥23.52bn | CN¥2.40bn | CN¥1.66bn | CN¥403.4m | −CN¥19.7m |
| Net income | −CN¥7.29bn | −CN¥598.4m | CN¥1.97bn | CN¥4.54bn | CN¥12.55bn | CN¥12.99bn | CN¥1.64bn | CN¥1.24bn | CN¥264.9m | CN¥99.8m |
| Diluted earnings per share | -1.03 | -0.07 | 0.23 | 0.52 | 1.49 | 12.38 | 1.56 | 1.18 | 0.30 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥275.96bn | CN¥288.07bn | CN¥294.72bn | CN¥288.84bn | CN¥285.20bn | CN¥258.81bn | CN¥15.28bn | CN¥17.04bn | CN¥18.47bn | CN¥18.47bn |
| Cash and short-term investments | — | CN¥13.09bn | CN¥15.64bn | CN¥11.72bn | CN¥15.39bn | CN¥16.08bn | CN¥840.3m | CN¥1.56bn | CN¥1.86bn | CN¥1.27bn |
| Total liabilities | CN¥184.43bn | CN¥188.61bn | CN¥194.18bn | CN¥191.53bn | CN¥193.76bn | CN¥165.23bn | CN¥5.14bn | CN¥7.85bn | CN¥10.20bn | CN¥11.69bn |
| Debt | CN¥63.93bn | CN¥89.17bn | CN¥92.98bn | CN¥75.94bn | CN¥70.20bn | CN¥69.67bn | CN¥2.28bn | CN¥3.64bn | CN¥5.54bn | CN¥6.70bn |
| Shareholders' equity | CN¥75.29bn | CN¥82.73bn | CN¥84.15bn | CN¥81.81bn | CN¥76.14bn | CN¥76.48bn | CN¥9.65bn | CN¥8.41bn | CN¥7.35bn | CN¥5.86bn |
| Shares outstanding | 7,110m | 8,021m | 8,663m | 8,662m | 8,398m | 1,049m | 1,049m | 1,049m | 880m | 880m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥12.26bn | CN¥12.46bn | CN¥16.95bn | CN¥15.25bn | CN¥28.43bn | CN¥39.14bn | CN¥2.68bn | CN¥1.72bn | CN¥1.17bn | CN¥578.9m |
| Capital spending | −CN¥5.24bn | −CN¥9.14bn | −CN¥10.57bn | −CN¥15.52bn | −CN¥20.02bn | −CN¥126.5m | −CN¥174.2m | −CN¥40.6m | −CN¥47.5m | −CN¥45.2m |
| Free cash flow | CN¥7.02bn | CN¥3.33bn | CN¥6.38bn | −CN¥272.0m | CN¥8.40bn | CN¥39.02bn | CN¥2.50bn | CN¥1.68bn | CN¥1.12bn | CN¥533.7m |
| Dividends paid | −CN¥2.73bn | −CN¥4.08bn | −CN¥5.58bn | −CN¥15.36bn | −CN¥16.11bn | −CN¥11.57bn | −CN¥582.8m | −CN¥348.7m | −CN¥418.5m | −CN¥474.7m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥16.95bn | CN¥17.83bn | CN¥12.33bn | CN¥19.56bn | CN¥18.96bn | CN¥21.03bn | CN¥14.95bn | CN¥25.54bn |
| Gross profit | CN¥1.79bn | CN¥2.46bn | CN¥1.31bn | CN¥3.38bn | CN¥3.32bn | CN¥4.62bn | CN¥2.05bn | CN¥6.33bn |
| Operating income | −CN¥752.7m | −CN¥53.6m | −CN¥1.17bn | CN¥882.0m | CN¥424.7m | CN¥1.00bn | −CN¥1.60bn | CN¥3.95bn |
| Net income | −CN¥1.65bn | −CN¥1.70bn | −CN¥1.49bn | −CN¥6.23bn | −CN¥258.8m | CN¥572.0m | −CN¥1.49bn | CN¥3.15bn |
| Diluted earnings per share | -0.23 | -0.24 | -0.21 | -0.88 | -0.04 | 0.08 | -0.21 | 0.39 |
| Cash from operations | — | — | — | — | CN¥2.95bn | CN¥4.10bn | −CN¥2.16bn | CN¥9.08bn |
| Capital spending | −CN¥1.77bn | −CN¥1.10bn | −CN¥1.11bn | — | −CN¥1.75bn | −CN¥1.56bn | −CN¥2.02bn | −CN¥1.98bn |
| Free cash flow | — | — | — | — | CN¥1.20bn | CN¥2.54bn | −CN¥4.18bn | CN¥7.10bn |
| Total assets | CN¥281.69bn | CN¥280.10bn | CN¥282.10bn | CN¥275.96bn | CN¥289.73bn | CN¥291.10bn | CN¥293.17bn | CN¥288.07bn |
| Cash and short-term investments | — | — | — | — | CN¥11.78bn | CN¥12.94bn | CN¥14.89bn | CN¥13.09bn |
| Debt | CN¥79.44bn | CN¥72.56bn | CN¥70.94bn | CN¥63.93bn | CN¥58.70bn | CN¥90.01bn | CN¥96.33bn | CN¥87.52bn |
| Shareholders' equity | CN¥70.63bn | CN¥72.09bn | CN¥73.91bn | CN¥75.29bn | CN¥81.79bn | CN¥81.86bn | CN¥81.43bn | CN¥82.73bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.8% | 16.7% | 16.2% | 16.1% | 24.9% | 28.3% |
| Operating margin | 3.7% | 0.0% | 4.5% | 5.0% | 16.0% | 14.5% |
| Net margin | -9.8% | -0.7% | 1.8% | 3.4% | 7.4% | 8.0% |
| Return on equity | -9.7% | -0.7% | 2.3% | 5.6% | 16.5% | 17.0% |
| Return on assets | -2.6% | -0.2% | 0.7% | 1.6% | 4.4% | 5.0% |
| Free cash flow yield | 66.9% | 73.2% | 86.3% | 96.5% | 156.8% | 1017.6% |
| Revenue growth | -14.4% | -19.0% | -19.0% | -22.0% | 4.9% | 1573.7% |
| Earnings growth | 1118.4% | -130.5% | -56.7% | -63.8% | -3.4% | 694.0% |
| Current ratio | 0.48x | 0.53x | 0.56x | 0.51x | 0.52x | 0.54x |
| Debt to equity | 0.85x | 1.06x | 1.09x | 0.91x | 0.90x | 0.46x |
| Equity ratio | 27.3% | 28.7% | 28.6% | 28.3% | 26.7% | 29.6% |
| Interest coverage | 0.83x | 0.01x | 1.22x | 1.36x | 5.44x | 4.48x |
| R&D as a share of sales | 1.7% | 2.2% | 2.2% | 1.4% | 1.1% | 0.5% |
| Buybacks as a share of market value | 11.4% | 7.4% | -0.0% | -3.1% | -700.8% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.5% | -14.4% | 30.9% |
| Operating income | -25.5% | -35.0% | — |
| Net income | — | — | 30.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.3% | 16.6% | 21.1% | 21.5% |
| Operating margin | 1.7% | 3.0% | 7.6% | 7.7% |
| Net margin | -4.9% | -0.3% | 3.3% | 3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.2 | -75.9 | 29.4 | 16.3 | 10.3 | 1.2 | 7.6 | 6.0 | 34.5 | 62.2 |
| Price to sales | 0.5 | 0.5 | 0.5 | 0.6 | 0.8 | 0.1 | 1.3 | 0.9 | 1.3 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.114 | 0.27 | 0.33 | 0.48 | 0.51 | 0.38 | 0.08 | 0.036 |
- 9-for-5 split · 16 May 2012
- 3-for-2 split · 23 May 2008
- 1-to-1 reverse split · 26 May 2006
- 6-for-5 split · 28 Jul 2004
- 6-for-5 split · 25 Oct 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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