T 
2.20
+10.00%
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¥8.69bn
FY2016FY2025
Net income
−CN¥1.31bn
FY2016FY2025
Free cash flow
CN¥601.3m
FY2016FY2025
Shareholders' equity
CN¥2.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.69bn | CN¥9.64bn | CN¥10.23bn | CN¥9.57bn | CN¥10.51bn | CN¥10.76bn | CN¥6.01bn | CN¥4.52bn | CN¥3.06bn | CN¥2.37bn |
| Gross profit | CN¥1.93bn | CN¥1.63bn | −CN¥1.33bn | CN¥930.2m | −CN¥2.93bn | CN¥4.54bn | CN¥817.2m | CN¥432.0m | CN¥744.3m | CN¥755.5m |
| Research and development | CN¥36.5m | CN¥42.5m | CN¥46.5m | CN¥31.1m | CN¥86.7m | CN¥108.3m | CN¥99.0m | CN¥111.8m | CN¥82.9m | CN¥63.7m |
| Operating income | −CN¥53.2m | CN¥1.52bn | −CN¥2.40bn | CN¥510.2m | −CN¥4.05bn | CN¥3.35bn | CN¥228.2m | −CN¥477.8m | CN¥265.2m | CN¥396.0m |
| Net income | −CN¥1.31bn | CN¥1.46bn | −CN¥2.88bn | CN¥489.5m | −CN¥4.46bn | CN¥3.24bn | CN¥100.4m | −CN¥572.0m | CN¥262.1m | CN¥372.9m |
| Diluted earnings per share | -0.59 | 0.67 | -1.58 | 0.28 | -2.44 | 1.75 | 0.07 | -0.35 | 0.20 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.06bn | CN¥13.66bn | CN¥17.19bn | CN¥19.55bn | CN¥18.49bn | CN¥15.50bn | CN¥7.53bn | CN¥6.23bn | CN¥4.44bn | CN¥2.49bn |
| Cash and short-term investments | — | CN¥150.4m | CN¥1.25bn | CN¥970.5m | CN¥1.87bn | CN¥2.13bn | CN¥869.8m | CN¥478.6m | CN¥429.5m | CN¥172.5m |
| Total liabilities | CN¥9.63bn | CN¥9.92bn | CN¥14.91bn | CN¥15.57bn | CN¥14.78bn | CN¥6.70bn | CN¥4.64bn | CN¥3.83bn | CN¥1.40bn | CN¥1.07bn |
| Debt | CN¥421.4m | CN¥4.45bn | CN¥4.78bn | CN¥7.36bn | CN¥7.95bn | CN¥2.39bn | CN¥2.20bn | CN¥1.82bn | CN¥469.4m | CN¥577.6m |
| Shareholders' equity | CN¥2.37bn | CN¥3.68bn | CN¥2.22bn | CN¥3.91bn | CN¥3.45bn | CN¥8.78bn | CN¥2.88bn | CN¥2.38bn | CN¥3.03bn | CN¥1.40bn |
| Shares outstanding | 2,222m | 2,174m | 1,829m | 1,734m | 1,827m | 1,853m | 1,405m | 1,621m | 1,285m | 1,297m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥910.9m | −CN¥964.1m | CN¥264.4m | CN¥658.3m | −CN¥555.7m | CN¥4.45bn | CN¥531.9m | CN¥190.0m | CN¥334.8m | CN¥513.0m |
| Capital spending | −CN¥309.5m | −CN¥315.8m | −CN¥600.1m | −CN¥1.10bn | −CN¥2.32bn | −CN¥5.05bn | −CN¥1.24bn | −CN¥1.71bn | −CN¥986.9m | −CN¥659.1m |
| Free cash flow | CN¥601.3m | −CN¥1.28bn | −CN¥335.7m | −CN¥439.2m | −CN¥2.87bn | −CN¥601.6m | −CN¥703.1m | −CN¥1.52bn | −CN¥652.1m | −CN¥146.0m |
| Dividends paid | −CN¥131.0m | −CN¥160.5m | −CN¥176.7m | −CN¥281.7m | −CN¥788.2m | −CN¥115.0m | −CN¥84.0m | −CN¥139.3m | −CN¥114.3m | −CN¥78.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.79bn | CN¥1.87bn | CN¥1.97bn | CN¥2.03bn | CN¥2.25bn | CN¥2.44bn | CN¥2.50bn | CN¥2.83bn |
| Gross profit | −CN¥24.0m | CN¥133.2m | −CN¥263.6m | CN¥192.0m | CN¥429.1m | CN¥385.9m | CN¥516.3m | CN¥707.1m |
| Operating income | −CN¥230.2m | −CN¥56.0m | −CN¥404.8m | −CN¥101.8m | CN¥309.5m | CN¥208.6m | CN¥193.3m | CN¥585.3m |
| Net income | −CN¥835.4m | −CN¥707.5m | −CN¥1.57bn | −CN¥92.5m | CN¥225.1m | CN¥126.9m | CN¥117.1m | CN¥500.4m |
| Diluted earnings per share | -0.38 | -0.32 | -0.71 | -0.04 | 0.10 | 0.06 | 0.05 | 0.23 |
| Cash from operations | — | — | — | CN¥202.0m | CN¥164.0m | CN¥324.0m | — | CN¥293.0m |
| Capital spending | −CN¥11.0m | −CN¥37.0m | −CN¥62.0m | −CN¥106.0m | −CN¥85.0m | −CN¥55.0m | −CN¥108.0m | −CN¥54.0m |
| Free cash flow | — | — | — | CN¥96.0m | CN¥79.0m | CN¥269.0m | — | CN¥239.0m |
| Total assets | CN¥10.34bn | CN¥11.12bn | CN¥12.06bn | CN¥13.49bn | CN¥13.60bn | CN¥13.74bn | CN¥13.66bn | CN¥13.87bn |
| Cash and short-term investments | — | — | — | CN¥215.8m | CN¥233.8m | CN¥370.8m | CN¥150.4m | CN¥112.2m |
| Debt | CN¥410.7m | CN¥368.1m | CN¥421.4m | CN¥3.62bn | CN¥3.30bn | CN¥3.42bn | CN¥3.32bn | CN¥3.13bn |
| Shareholders' equity | CN¥823.3m | CN¥1.66bn | CN¥2.37bn | CN¥3.94bn | CN¥4.03bn | CN¥3.80bn | CN¥3.68bn | CN¥3.56bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 8.6% | 16.9% | -12.9% | 9.7% | -27.8% | 42.2% |
| Operating margin | -11.1% | 19.3% | -23.3% | 10.8% | -38.2% | 31.8% |
| Net margin | -15.1% | 15.1% | -28.2% | 5.1% | -42.5% | 30.1% |
| Return on equity | -55.3% | 39.7% | -130.1% | 12.5% | -129.2% | 37.0% |
| Return on assets | -10.9% | 10.7% | -16.8% | 2.5% | -24.1% | 20.9% |
| Free cash flow yield | 27.1% | -14.7% | 23.3% | 49.9% | 47.5% | 252.7% |
| Revenue growth | -9.9% | -5.7% | 6.9% | -8.9% | -2.4% | 79.2% |
| Earnings growth | -189.8% | -150.6% | -689.1% | -111.0% | -237.5% | 3132.0% |
| Current ratio | 0.28x | 0.28x | 0.29x | 0.37x | 0.40x | 1.14x |
| Debt to equity | 0.18x | 0.90x | 1.49x | 1.13x | 1.14x | 0.37x |
| Equity ratio | 19.6% | 26.9% | 12.9% | 20.0% | 18.7% | 56.6% |
| Interest coverage | -2.70x | 4.59x | -4.70x | 1.85x | -10.51x | 20.47x |
| R&D as a share of sales | 0.4% | 0.4% | 0.5% | 0.3% | 0.8% | 1.0% |
| Buybacks as a share of market value | -2.2% | -18.9% | -5.5% | 5.1% | 1.4% | -31.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.2% | -4.2% | 15.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.4% | 8.3% | 8.1% | 10.3% |
| Operating margin | 8.0% | -1.1% | -1.9% | -0.8% |
| Net margin | 0.8% | -5.9% | -5.8% | -4.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.7 | 4.2 | -2.3 | 21.6 | -2.6 | 6.0 | 125.5 | -13.8 | 19.4 | 20.1 |
| Price to sales | 0.7 | 0.6 | 0.7 | 1.1 | 1.1 | 1.8 | 2.1 | 1.7 | 1.7 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 May 2021.
| FY2021 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.429 | 0.048 | 0.06 | 0.043 | 0.022 | 0.022 | 0.022 | 0.022 |
- 7-for-5 split · 20 May 2021
- 3-for-2 split · 1 Jun 2018
- 11-for-5 split · 17 May 2016
- 3-for-2 split · 30 Apr 2010
- 2-for-1 split · 15 May 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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