C 
3.79
-0.52%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥13.53bn
FY2016FY2025
Net income
−CN¥66.2m
FY2016FY2025
Free cash flow
−CN¥514.2m
FY2016FY2025
Shareholders' equity
CN¥13.32bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥13.53bn | CN¥17.39bn | CN¥14.46bn | CN¥14.66bn | CN¥12.16bn | CN¥10.07bn | CN¥7.37bn | CN¥6.56bn | CN¥5.46bn | CN¥5.38bn |
| Gross profit | CN¥2.63bn | CN¥1.77bn | CN¥1.25bn | CN¥709.0m | CN¥161.9m | CN¥1.36bn | CN¥1.18bn | CN¥653.9m | CN¥144.6m | CN¥940.4m |
| Research and development | CN¥20.1m | CN¥24.1m | CN¥55.4m | CN¥16.2m | CN¥10.7m | CN¥13.3m | CN¥1.9m | CN¥1.8m | CN¥2.7m | CN¥2.7m |
| Operating income | CN¥456.5m | CN¥1.48bn | CN¥927.0m | CN¥562.1m | −CN¥83.7m | CN¥1.44bn | CN¥1.01bn | CN¥309.1m | −CN¥132.8m | CN¥753.3m |
| Net income | −CN¥66.2m | CN¥715.2m | CN¥349.1m | CN¥122.9m | −CN¥25.4m | CN¥1.00bn | CN¥573.0m | CN¥208.7m | −CN¥121.6m | CN¥398.8m |
| Diluted earnings per share | -0.02 | 0.24 | 0.13 | 0.04 | -0.01 | 0.39 | 0.52 | 0.19 | -0.11 | 0.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥41.19bn | CN¥40.36bn | CN¥37.60bn | CN¥30.83bn | CN¥23.35bn | CN¥20.72bn | CN¥9.74bn | CN¥9.49bn | CN¥9.36bn | CN¥9.19bn |
| Cash and short-term investments | — | CN¥230.5m | CN¥607.0m | CN¥285.1m | CN¥1.08bn | CN¥170.1m | CN¥154.6m | CN¥100.3m | CN¥170.6m | CN¥26.3m |
| Total liabilities | CN¥27.55bn | CN¥26.40bn | CN¥27.31bn | CN¥20.98bn | CN¥13.81bn | CN¥11.22bn | CN¥5.32bn | CN¥5.83bn | CN¥5.95bn | CN¥5.54bn |
| Debt | CN¥11.64bn | CN¥20.54bn | CN¥21.42bn | CN¥15.41bn | CN¥9.81bn | CN¥7.55bn | CN¥3.16bn | CN¥4.13bn | CN¥4.64bn | CN¥3.79bn |
| Shareholders' equity | CN¥13.32bn | CN¥13.61bn | CN¥9.95bn | CN¥9.59bn | CN¥9.45bn | CN¥9.39bn | CN¥4.17bn | CN¥3.48bn | CN¥3.24bn | CN¥3.48bn |
| Shares outstanding | 3,474m | 2,992m | 2,748m | 2,799m | 2,592m | 2,550m | 1,108m | 1,109m | 1,108m | 1,108m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.01bn | CN¥3.93bn | CN¥2.35bn | CN¥676.0m | CN¥655.8m | CN¥577.8m | CN¥1.65bn | CN¥904.7m | CN¥580.1m | CN¥760.9m |
| Capital spending | −CN¥3.53bn | −CN¥5.31bn | −CN¥6.90bn | −CN¥8.33bn | −CN¥1.74bn | −CN¥699.8m | −CN¥580.4m | −CN¥499.3m | −CN¥448.2m | −CN¥462.5m |
| Free cash flow | −CN¥514.2m | −CN¥1.38bn | −CN¥4.55bn | −CN¥7.65bn | −CN¥1.08bn | −CN¥122.1m | CN¥1.07bn | CN¥405.5m | CN¥131.9m | CN¥298.4m |
| Dividends paid | −CN¥726.7m | −CN¥693.6m | −CN¥584.1m | −CN¥368.0m | −CN¥207.0m | −CN¥177.3m | −CN¥66.5m | −CN¥217.5m | −CN¥291.8m | −CN¥326.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.14bn | CN¥3.72bn | CN¥3.01bn | CN¥3.91bn | CN¥3.28bn | CN¥3.33bn | CN¥4.46bn | CN¥4.98bn |
| Gross profit | CN¥231.8m | CN¥340.1m | −CN¥231.9m | CN¥434.6m | CN¥387.1m | CN¥138.4m | CN¥20.3m | CN¥785.3m |
| Operating income | CN¥180.1m | CN¥278.3m | −CN¥311.3m | CN¥339.6m | CN¥342.5m | −CN¥53.6m | −CN¥264.7m | CN¥749.2m |
| Net income | CN¥68.3m | CN¥104.7m | −CN¥407.4m | CN¥246.4m | CN¥168.4m | −CN¥73.6m | −CN¥193.0m | CN¥460.3m |
| Diluted earnings per share | 0.02 | 0.03 | -0.12 | 0.07 | 0.05 | -0.02 | -0.06 | 0.15 |
| Cash from operations | — | — | — | CN¥1.19bn | CN¥781.0m | CN¥890.0m | CN¥508.0m | CN¥1.46bn |
| Capital spending | −CN¥497.0m | −CN¥694.0m | −CN¥728.0m | −CN¥910.0m | −CN¥867.0m | −CN¥1.02bn | −CN¥1.68bn | −CN¥1.27bn |
| Free cash flow | — | — | — | CN¥280.0m | −CN¥86.0m | −CN¥129.0m | −CN¥1.17bn | CN¥195.0m |
| Total assets | CN¥40.60bn | CN¥41.25bn | CN¥41.19bn | CN¥40.73bn | CN¥40.20bn | CN¥40.15bn | CN¥40.36bn | CN¥39.14bn |
| Cash and short-term investments | — | — | — | CN¥320.0m | CN¥274.9m | CN¥356.5m | CN¥230.5m | CN¥451.0m |
| Debt | CN¥10.22bn | CN¥11.13bn | CN¥11.64bn | CN¥7.57bn | CN¥19.39bn | CN¥20.68bn | CN¥19.97bn | CN¥22.97bn |
| Shareholders' equity | CN¥13.54bn | CN¥13.45bn | CN¥13.32bn | CN¥13.80bn | CN¥13.77bn | CN¥13.57bn | CN¥13.61bn | CN¥10.84bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.5% | 10.2% | 8.6% | 4.8% | 1.3% | 13.5% |
| Operating margin | 3.4% | 8.5% | 6.4% | 3.8% | -0.7% | 14.3% |
| Net margin | -0.5% | 4.1% | 2.4% | 0.8% | -0.2% | 9.9% |
| Return on equity | -0.5% | 5.3% | 3.5% | 1.3% | -0.3% | 10.7% |
| Return on assets | -0.2% | 1.8% | 0.9% | 0.4% | -0.1% | 4.8% |
| Free cash flow yield | 47.3% | 77.6% | 84.6% | 80.8% | 23.2% | 12.6% |
| Revenue growth | -22.2% | 20.3% | -1.4% | 20.5% | 20.8% | 36.8% |
| Earnings growth | -109.3% | 104.9% | 184.1% | -584.7% | -102.5% | 74.8% |
| Current ratio | 0.27x | 0.48x | 0.38x | 0.37x | 0.46x | 0.31x |
| Debt to equity | 0.87x | 1.47x | 2.09x | 1.57x | 1.03x | 0.60x |
| Equity ratio | 32.3% | 33.7% | 26.5% | 31.1% | 40.5% | 45.3% |
| Interest coverage | 1.05x | 2.73x | 2.21x | 1.72x | -0.24x | 3.58x |
| R&D as a share of sales | 0.1% | 0.1% | 0.4% | 0.1% | 0.1% | 0.1% |
| Buybacks as a share of market value | -16.1% | -8.9% | 1.8% | -8.0% | -1.6% | -130.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.6% | 6.1% | 8.3% |
| Operating income | -6.7% | -20.5% | -8.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.2% | 10.6% | 9.6% | 11.3% |
| Operating margin | 6.3% | 5.7% | 5.8% | 7.0% |
| Net margin | 2.1% | 1.9% | 2.5% | 3.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -224.2 | 19.9 | 34.9 | 105.5 | -749.4 | 10.2 | 9.0 | 18.6 | -35.2 | 16.8 |
| Price to sales | 1.1 | 0.8 | 0.8 | 0.9 | 1.6 | 1.0 | 0.7 | 0.6 | 0.8 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 15 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.072 | 0.039 | 0.014 | 0.05 | 0.16 | 0.06 | 0.09 | 0.13 |
- 2-for-1 split · 23 Jun 2016
- 1-to-1 reverse split · 31 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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