B 
6.37
+2.25%
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¥1.25bn
FY2016FY2025
Net income
−CN¥1.46bn
FY2016FY2025
Free cash flow
CN¥78.4m
FY2016FY2025
Shareholders' equity
CN¥3.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.25bn | CN¥1.46bn | CN¥1.61bn | CN¥2.01bn | CN¥3.12bn | CN¥1.61bn | CN¥3.12bn | CN¥2.78bn | CN¥2.00bn | CN¥1.90bn |
| Operating income | −CN¥965.5m | −CN¥650.3m | −CN¥369.0m | CN¥102.1m | CN¥568.4m | CN¥219.4m | CN¥509.2m | CN¥268.2m | CN¥250.9m | −CN¥27.6m |
| Net income | −CN¥1.46bn | −CN¥866.9m | −CN¥552.6m | −CN¥75.5m | CN¥362.7m | CN¥190.7m | CN¥314.9m | CN¥264.1m | CN¥199.4m | CN¥101.8m |
| Diluted earnings per share | -1.07 | -0.61 | -0.41 | -0.04 | 0.29 | 0.14 | 0.23 | 0.19 | 0.20 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.18bn | CN¥13.65bn | CN¥15.58bn | CN¥15.90bn | CN¥15.69bn | CN¥11.35bn | CN¥11.85bn | CN¥10.40bn | CN¥9.18bn | CN¥10.92bn |
| Cash and short-term investments | — | CN¥1.49bn | CN¥2.42bn | CN¥2.87bn | CN¥2.30bn | CN¥1.69bn | CN¥2.90bn | CN¥3.58bn | CN¥2.93bn | CN¥2.90bn |
| Total liabilities | CN¥7.38bn | CN¥8.39bn | CN¥9.38bn | CN¥9.17bn | CN¥10.05bn | CN¥5.90bn | CN¥6.64bn | CN¥5.51bn | CN¥4.53bn | CN¥7.51bn |
| Debt | CN¥640.9m | CN¥4.71bn | CN¥6.43bn | CN¥6.31bn | CN¥6.41bn | CN¥3.39bn | CN¥3.58bn | CN¥3.02bn | CN¥2.46bn | CN¥504.9m |
| Shareholders' equity | CN¥3.82bn | CN¥5.28bn | CN¥6.21bn | CN¥6.73bn | CN¥5.64bn | CN¥5.44bn | CN¥5.21bn | CN¥4.88bn | CN¥4.65bn | CN¥3.40bn |
| Shares outstanding | 1,368m | 1,415m | 1,358m | 1,839m | 1,248m | 1,368m | 1,368m | 1,368m | 996m | 1,368m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥138.5m | −CN¥440.7m | −CN¥15.0m | CN¥1.08bn | CN¥1.44bn | −CN¥355.9m | CN¥730.3m | CN¥654.4m | −CN¥2.07bn | CN¥91.3m |
| Capital spending | −CN¥60.1m | −CN¥90.8m | −CN¥141.4m | −CN¥96.2m | −CN¥610.7m | −CN¥115.6m | −CN¥282.3m | −CN¥355.0m | −CN¥344.1m | −CN¥216.2m |
| Free cash flow | CN¥78.4m | −CN¥531.6m | −CN¥156.4m | CN¥981.7m | CN¥824.6m | −CN¥471.5m | CN¥448.0m | CN¥299.4m | −CN¥2.41bn | −CN¥124.9m |
| Dividends paid | −CN¥219.8m | −CN¥349.0m | −CN¥280.5m | −CN¥189.1m | −CN¥207.4m | −CN¥120.4m | −CN¥151.9m | −CN¥109.0m | −CN¥42.5m | −CN¥16.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥180.9m | CN¥277.4m | CN¥280.3m | CN¥299.4m | CN¥147.6m | CN¥525.4m | CN¥501.5m | CN¥319.6m |
| Operating income | −CN¥72.3m | −CN¥29.4m | CN¥4.1m | −CN¥45.6m | −CN¥63.2m | −CN¥1.17bn | −CN¥509.3m | −CN¥213.6m |
| Net income | −CN¥124.6m | −CN¥44.3m | −CN¥354.9m | −CN¥53.9m | −CN¥100.4m | −CN¥955.2m | −CN¥512.5m | −CN¥215.8m |
| Diluted earnings per share | -0.09 | -0.03 | -0.26 | -0.04 | -0.07 | -0.70 | -0.36 | -0.15 |
| Cash from operations | — | — | — | CN¥152.0m | −CN¥65.0m | CN¥28.0m | — | CN¥65.0m |
| Capital spending | −CN¥1.0m | −CN¥14.0m | −CN¥3.0m | −CN¥23.0m | −CN¥13.0m | −CN¥19.0m | −CN¥6.0m | −CN¥15.0m |
| Free cash flow | — | — | — | CN¥129.0m | −CN¥78.0m | CN¥9.0m | — | CN¥50.0m |
| Total assets | CN¥10.44bn | CN¥11.01bn | CN¥11.18bn | CN¥11.95bn | CN¥12.50bn | CN¥12.67bn | CN¥13.65bn | CN¥14.53bn |
| Cash and short-term investments | — | — | — | CN¥1.36bn | CN¥1.43bn | CN¥1.52bn | CN¥1.49bn | CN¥1.72bn |
| Debt | CN¥494.9m | CN¥727.0m | CN¥640.9m | CN¥1.06bn | CN¥2.54bn | CN¥2.58bn | CN¥2.67bn | CN¥2.46bn |
| Shareholders' equity | CN¥3.70bn | CN¥3.80bn | CN¥3.82bn | CN¥4.19bn | CN¥4.23bn | CN¥4.33bn | CN¥5.28bn | CN¥5.82bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -77.1% | -44.5% | -22.9% | 5.1% | 18.2% | 13.6% | — |
| Net margin | -116.9% | -59.3% | -34.4% | -3.8% | 11.6% | 11.8% | — |
| Return on equity | -38.3% | -16.4% | -8.9% | -1.1% | 6.4% | 3.5% | — |
| Return on assets | -13.1% | -6.4% | -3.5% | -0.5% | 2.3% | 1.7% | — |
| Free cash flow yield | 2.2% | -3.7% | 1.4% | 9.6% | 24.7% | — | -26.1% |
| Revenue growth | -14.3% | -9.1% | -20.1% | -35.6% | 94.0% | -48.3% | — |
| Earnings growth | 68.9% | 56.9% | 631.9% | -120.8% | 90.2% | -39.4% | — |
| Current ratio | 0.83x | 1.59x | 1.25x | 1.22x | 1.34x | 1.35x | — |
| Debt to equity | 0.17x | 0.51x | 0.62x | 0.56x | 0.48x | 0.42x | — |
| Equity ratio | 34.2% | 38.7% | 39.9% | 42.4% | 36.0% | 48.0% | — |
| Interest coverage | -4.25x | -2.12x | -1.20x | 0.40x | 2.46x | 1.82x | — |
| Buybacks as a share of market value | 3.4% | -4.2% | 26.2% | -47.4% | -25.3% | — | -2819.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.6% | -4.9% | -1.3% |
| Net income | 168.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -59.5% | -29.7% | -9.9% | -0.2% |
| Net margin | -85.9% | -46.7% | -21.7% | -6.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -7.1 | -10.0 | -17.7 | -291.7 |
| Price to sales | 8.3 | 5.9 | 6.1 | 10.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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