R 
1.05
-0.94%
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¥26.71bn
FY2016FY2025
Net income
−CN¥9.43bn
FY2016FY2025
Free cash flow
−CN¥715.8m
FY2016FY2025
Shareholders' equity
CN¥5.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥26.71bn | CN¥38.01bn | CN¥58.96bn | CN¥31.79bn | CN¥47.24bn | CN¥71.51bn | CN¥70.91bn | CN¥56.37bn | CN¥38.70bn | CN¥30.62bn |
| Gross profit | CN¥2.20bn | CN¥3.44bn | CN¥9.62bn | CN¥747.2m | CN¥9.23bn | CN¥19.89bn | CN¥21.33bn | CN¥17.74bn | CN¥11.42bn | CN¥9.51bn |
| Research and development | — | — | CN¥0 | CN¥1 | CN¥0 | CN¥0 | CN¥0 | — | — | — |
| Operating income | — | −CN¥5.15bn | CN¥2.92bn | −CN¥3.69bn | CN¥2.20bn | CN¥11.05bn | CN¥13.30bn | CN¥11.07bn | −CN¥21.59bn | −CN¥16.82bn |
| Net income | −CN¥9.43bn | −CN¥8.44bn | CN¥385.0m | −CN¥18.44bn | −CN¥5.00bn | CN¥7.50bn | CN¥9.12bn | CN¥7.56bn | CN¥5.76bn | CN¥4.15bn |
| Diluted earnings per share | -2.17 | -1.96 | 0.09 | -4.20 | -1.17 | 1.75 | 2.11 | 1.72 | 1.30 | 0.95 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥130.26bn | CN¥161.76bn | CN¥205.86bn | CN¥249.57bn | CN¥292.78bn | CN¥288.61bn | CN¥254.59bn | CN¥227.76bn | CN¥191.73bn | CN¥145.74bn |
| Cash and short-term investments | — | CN¥2.82bn | CN¥5.38bn | CN¥9.40bn | CN¥20.03bn | CN¥31.60bn | CN¥30.36bn | CN¥30.43bn | CN¥23.69bn | CN¥19.53bn |
| Total liabilities | CN¥122.03bn | CN¥144.44bn | CN¥179.49bn | CN¥224.52bn | CN¥247.36bn | CN¥236.85bn | CN¥209.92bn | CN¥191.40bn | CN¥162.35bn | CN¥120.54bn |
| Debt | CN¥12.90bn | CN¥14.69bn | CN¥44.08bn | CN¥44.13bn | CN¥58.65bn | CN¥69.52bn | CN¥65.96bn | CN¥62.31bn | CN¥59.89bn | CN¥50.92bn |
| Shareholders' equity | CN¥5.65bn | CN¥14.86bn | CN¥23.59bn | CN¥23.28bn | CN¥39.84bn | CN¥46.34bn | CN¥40.89bn | CN¥33.58bn | CN¥27.51bn | CN¥23.67bn |
| Shares outstanding | 4,348m | 4,308m | 4,348m | 4,386m | 4,281m | 4,291m | 4,318m | 4,388m | 4,424m | 4,357m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥690.5m | −CN¥1.70bn | −CN¥1.48bn | CN¥2.24bn | CN¥16.92bn | CN¥1.37bn | CN¥2.12bn | CN¥17.51bn | CN¥2.27bn | −CN¥3.69bn |
| Capital spending | −CN¥25.2m | −CN¥94.6m | −CN¥30.6m | −CN¥125.8m | −CN¥932.5m | −CN¥304.6m | −CN¥637.0m | −CN¥1.50bn | −CN¥428.1m | −CN¥85.1m |
| Free cash flow | −CN¥715.8m | −CN¥1.79bn | −CN¥1.51bn | CN¥2.12bn | CN¥15.98bn | CN¥1.06bn | CN¥1.48bn | CN¥16.01bn | CN¥1.85bn | −CN¥3.78bn |
| Dividends paid | −CN¥118.5m | −CN¥409.3m | −CN¥935.9m | −CN¥197.6m | −CN¥6.93bn | −CN¥8.28bn | −CN¥8.13bn | −CN¥6.59bn | −CN¥6.13bn | −CN¥4.48bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.07bn | CN¥3.10bn | CN¥6.33bn | CN¥6.21bn | CN¥7.19bn | CN¥6.99bn | CN¥9.17bn | CN¥9.09bn |
| Gross profit | CN¥300.0m | CN¥145.9m | CN¥534.3m | CN¥1.11bn | CN¥9.7m | CN¥543.9m | −CN¥134.2m | CN¥630.3m |
| Operating income | −CN¥144.7m | −CN¥584.6m | −CN¥914.1m | CN¥373.4m | −CN¥1.98bn | −CN¥393.1m | −CN¥6.64bn | −CN¥884.5m |
| Net income | −CN¥368.1m | −CN¥658.7m | −CN¥6.33bn | −CN¥231.4m | −CN¥1.97bn | −CN¥895.3m | −CN¥7.02bn | −CN¥1.11bn |
| Diluted earnings per share | -0.08 | -0.15 | -1.46 | -0.05 | -0.45 | -0.21 | -1.63 | -0.26 |
| Cash from operations | — | — | — | −CN¥187.0m | CN¥87.0m | −CN¥479.0m | — | −CN¥202.0m |
| Capital spending | −CN¥2.0m | −CN¥3.0m | −CN¥15.0m | −CN¥5.0m | −CN¥2.0m | −CN¥2.0m | −CN¥9.0m | −CN¥7.0m |
| Free cash flow | — | — | — | −CN¥192.0m | CN¥85.0m | −CN¥481.0m | — | −CN¥209.0m |
| Total assets | CN¥124.65bn | CN¥127.71bn | CN¥130.26bn | CN¥143.25bn | CN¥148.37bn | CN¥157.01bn | CN¥161.76bn | CN¥182.80bn |
| Cash and short-term investments | — | — | — | CN¥2.17bn | CN¥2.39bn | CN¥2.47bn | CN¥2.82bn | CN¥3.32bn |
| Debt | CN¥12.46bn | CN¥12.92bn | CN¥12.90bn | CN¥26.73bn | CN¥14.96bn | CN¥13.75bn | CN¥13.63bn | CN¥15.10bn |
| Shareholders' equity | CN¥5.10bn | CN¥5.07bn | CN¥5.65bn | CN¥11.88bn | CN¥12.05bn | CN¥13.99bn | CN¥14.86bn | CN¥22.24bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 8.2% | 9.1% | 16.3% | 2.4% | 19.5% | 27.8% | — |
| Operating margin | -25.6% | -13.7% | 8.1% | -189.1% | -93.2% | -61.7% | — |
| Net margin | -35.3% | -22.2% | 0.7% | -58.0% | -10.6% | 10.5% | — |
| Return on equity | -166.8% | -56.8% | 1.6% | -79.2% | -12.6% | 16.2% | — |
| Return on assets | -7.2% | -5.2% | 0.2% | -7.4% | -1.7% | 2.6% | — |
| Free cash flow yield | -12.0% | -29.3% | -26.3% | 42.6% | 328.3% | 30.7% | — |
| Revenue growth | -29.7% | -35.5% | 85.4% | -32.7% | -33.9% | 0.8% | — |
| Earnings growth | 11.7% | -2293.1% | -102.1% | 268.5% | -166.7% | -17.8% | — |
| Current ratio | 1.05x | 1.11x | 1.21x | 1.11x | 1.24x | 1.42x | — |
| Debt to equity | 2.28x | 0.92x | 1.03x | 1.80x | 0.73x | 1.02x | — |
| Equity ratio | 4.3% | 9.2% | 11.5% | 9.3% | 13.6% | 16.1% | — |
| Interest coverage | -2.96x | -2.29x | 2.34x | -26.12x | -22.24x | -32.52x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.9% | 0.9% | 0.9% | -2.5% | 0.2% | 0.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.6% | -17.9% | 1.3% |
| Net income | -20.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.7% | 10.3% | 16.5% | 22.6% |
| Net margin | -27.6% | -23.1% | -12.2% | -0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.8 | -0.8 | 19.3 | -0.5 | -3.7 | 3.7 | 4.7 | 4.6 | 7.3 | 8.3 |
| Price to sales | 0.3 | 0.2 | 0.1 | 0.3 | 0.4 | 0.4 | 0.6 | 0.6 | 1.1 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jul 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.35 | 0.48 | 0.45 | 0.42 | 0.40 | 0.25 | 0.10 | 0.10 |
- 2-for-1 split · 18 Apr 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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