S 
1.07
-0.93%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥48.96bn
FY2016FY2025
Net income
CN¥58.1m
FY2016FY2025
Free cash flow
CN¥1.98bn
FY2016FY2025
Shareholders' equity
CN¥12.63bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥48.96bn | CN¥56.79bn | CN¥62.63bn | CN¥71.37bn | CN¥138.90bn | CN¥252.30bn | CN¥269.23bn | CN¥233.37bn | CN¥187.93bn | CN¥148.59bn |
| Gross profit | CN¥9.23bn | CN¥12.45bn | CN¥11.69bn | CN¥5.10bn | CN¥8.97bn | CN¥27.30bn | CN¥38.49bn | CN¥36.74bn | CN¥26.55bn | CN¥21.46bn |
| Research and development | CN¥235.8m | CN¥202.3m | CN¥441.4m | CN¥965.1m | CN¥1.91bn | CN¥2.26bn | CN¥3.27bn | CN¥2.26bn | CN¥1.81bn | CN¥1.24bn |
| Operating income | CN¥2.43bn | CN¥836.5m | −CN¥718.7m | −CN¥11.86bn | −CN¥19.82bn | −CN¥4.84bn | CN¥14.67bn | CN¥1.86bn | CN¥4.45bn | −CN¥927.0m |
| Net income | CN¥58.1m | CN¥610.6m | −CN¥4.09bn | −CN¥16.22bn | −CN¥43.26bn | −CN¥4.27bn | CN¥9.84bn | CN¥13.33bn | CN¥4.21bn | CN¥704.4m |
| Diluted earnings per share | 0.01 | 0.07 | -0.44 | -1.74 | -4.65 | -0.47 | 1.06 | 1.44 | 0.44 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥109.85bn | CN¥119.04bn | CN¥121.75bn | CN¥139.92bn | CN¥170.74bn | CN¥212.08bn | CN¥236.86bn | CN¥199.47bn | CN¥157.28bn | CN¥137.17bn |
| Cash and short-term investments | — | CN¥26.69bn | CN¥28.82bn | CN¥29.92bn | CN¥32.17bn | CN¥41.79bn | CN¥45.87bn | CN¥63.76bn | CN¥36.82bn | CN¥29.44bn |
| Total liabilities | CN¥99.17bn | CN¥107.88bn | CN¥111.61bn | CN¥124.83bn | CN¥139.71bn | CN¥135.24bn | CN¥149.71bn | CN¥111.26bn | CN¥73.65bn | CN¥67.25bn |
| Debt | CN¥899.2m | CN¥57.59bn | CN¥66.07bn | CN¥76.07bn | CN¥68.21bn | CN¥41.93bn | CN¥42.83bn | CN¥42.64bn | CN¥15.27bn | CN¥14.27bn |
| Shareholders' equity | CN¥12.63bn | CN¥12.43bn | CN¥11.38bn | CN¥16.11bn | CN¥32.10bn | CN¥76.86bn | CN¥87.92bn | CN¥80.92bn | CN¥78.96bn | CN¥65.71bn |
| Shares outstanding | 9,265m | 9,056m | 9,310m | 9,310m | 9,304m | 9,150m | 9,314m | 9,228m | 9,505m | 9,122m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥2.36bn | CN¥4.59bn | CN¥3.17bn | −CN¥630.8m | −CN¥6.43bn | −CN¥1.62bn | −CN¥17.86bn | −CN¥13.87bn | −CN¥6.61bn | CN¥3.84bn |
| Capital spending | −CN¥378.7m | −CN¥473.5m | −CN¥347.4m | −CN¥564.5m | −CN¥2.76bn | −CN¥5.77bn | −CN¥9.16bn | −CN¥7.43bn | −CN¥2.36bn | −CN¥2.42bn |
| Free cash flow | CN¥1.98bn | CN¥4.11bn | CN¥2.82bn | −CN¥1.20bn | −CN¥9.19bn | −CN¥7.39bn | −CN¥27.03bn | −CN¥21.31bn | −CN¥8.97bn | CN¥1.42bn |
| Dividends paid | −CN¥1.09bn | −CN¥1.32bn | −CN¥1.41bn | −CN¥1.36bn | −CN¥1.57bn | −CN¥457.9m | −CN¥1.11bn | −CN¥2.02bn | −CN¥1.26bn | −CN¥1.10bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.38bn | CN¥9.18bn | CN¥10.83bn | CN¥12.15bn | CN¥13.00bn | CN¥12.89bn | CN¥18.77bn | CN¥12.24bn |
| Gross profit | CN¥1.41bn | CN¥1.73bn | CN¥1.56bn | CN¥2.25bn | CN¥2.64bn | CN¥2.63bn | CN¥4.22bn | CN¥2.63bn |
| Operating income | −CN¥500.7m | −CN¥257.2m | −CN¥917.9m | −CN¥397.5m | CN¥14.2m | CN¥99.2m | CN¥197.8m | CN¥782.8m |
| Net income | CN¥98.4m | CN¥28.9m | −CN¥15.2m | CN¥24.6m | CN¥30.7m | CN¥18.0m | CN¥11.4m | CN¥584.5m |
| Diluted earnings per share | 0.01 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.06 |
| Cash from operations | — | — | — | CN¥166.0m | CN¥570.0m | CN¥919.0m | CN¥1.71bn | CN¥728.0m |
| Capital spending | −CN¥92.0m | −CN¥40.0m | −CN¥137.0m | −CN¥114.0m | −CN¥50.0m | −CN¥75.0m | −CN¥183.0m | −CN¥127.0m |
| Free cash flow | — | — | — | CN¥52.0m | CN¥520.0m | CN¥844.0m | CN¥1.53bn | CN¥601.0m |
| Total assets | CN¥102.58bn | CN¥110.01bn | CN¥109.85bn | CN¥114.75bn | CN¥119.89bn | CN¥118.01bn | CN¥119.04bn | CN¥119.40bn |
| Cash and short-term investments | — | — | — | CN¥25.74bn | CN¥27.92bn | CN¥27.40bn | CN¥26.69bn | CN¥27.10bn |
| Debt | CN¥521.8m | CN¥617.6m | CN¥899.2m | CN¥38.91bn | CN¥28.72bn | CN¥28.11bn | CN¥27.71bn | CN¥28.60bn |
| Shareholders' equity | CN¥12.22bn | CN¥12.33bn | CN¥12.63bn | CN¥12.59bn | CN¥12.49bn | CN¥12.62bn | CN¥12.43bn | CN¥12.09bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.9% | 21.9% | 18.7% | 7.1% | 6.5% | 10.8% |
| Operating margin | 5.0% | 1.5% | -1.1% | -16.6% | -14.3% | -1.9% |
| Net margin | 0.1% | 1.1% | -6.5% | -22.7% | -31.1% | -1.7% |
| Return on equity | 0.5% | 4.9% | -36.0% | -100.7% | -134.8% | -5.6% |
| Return on assets | 0.1% | 0.5% | -3.4% | -11.6% | -25.3% | -2.0% |
| Free cash flow yield | 25.5% | 48.2% | 32.6% | -0.6% | -34.0% | 39.1% |
| Revenue growth | -13.8% | -9.3% | -12.3% | -48.6% | -44.9% | -6.3% |
| Earnings growth | -90.5% | -114.9% | -74.8% | -62.5% | 912.1% | -143.4% |
| Current ratio | 0.55x | 0.55x | 0.55x | 0.57x | 0.68x | 0.86x |
| Debt to equity | 0.07x | 3.64x | 4.85x | 3.69x | 2.06x | 0.44x |
| Equity ratio | 11.5% | 10.4% | 9.3% | 11.5% | 18.8% | 36.2% |
| Interest coverage | 0.87x | 0.24x | -0.19x | -2.74x | -4.89x | -1.85x |
| R&D as a share of sales | 0.5% | 0.4% | 0.7% | 1.4% | 1.4% | 0.9% |
| Buybacks as a share of market value | -2.3% | 2.7% | 0.0% | -0.1% | -1.7% | 1.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.8% | -28.0% | -9.7% |
| Net income | — | — | -23.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.5% | 16.0% | 11.8% | 13.6% |
| Operating margin | 3.1% | -3.9% | -5.4% | -0.9% |
| Net margin | 0.6% | -8.2% | -10.6% | -2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 270.9 | 30.6 | -4.0 | -1.3 | -0.9 | -16.5 | 9.6 | 6.8 | 27.7 | 148.3 |
| Price to sales | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.6 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Jul 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.12 | 0.10 | 0.07 | 0.06 | 0.05 | 0.05 | 0.15 |
- 3-for-2 split · 16 Apr 2010
- 3-for-2 split · 10 Apr 2009
- 2-for-1 split · 26 Sept 2008
- 2-for-1 split · 6 Apr 2007
- 2-for-1 split · 21 Sept 2006
- 9-for-5 split · 17 Oct 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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