C 
19.84
-3.55%
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¥5.04bn
FY2016FY2025
Net income
−CN¥888.1m
FY2016FY2025
Free cash flow
CN¥139.9m
FY2016FY2025
Shareholders' equity
CN¥10.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.04bn | CN¥4.58bn | CN¥7.95bn | CN¥12.04bn | CN¥3.02bn | CN¥1.79bn | CN¥2.28bn | CN¥2.52bn | CN¥2.02bn | CN¥1.40bn |
| Gross profit | CN¥780.3m | −CN¥199.6m | CN¥887.2m | CN¥7.23bn | CN¥1.37bn | CN¥48.4m | CN¥224.7m | CN¥270.9m | CN¥152.0m | CN¥94.8m |
| Research and development | CN¥11.2m | CN¥6.7m | CN¥10.4m | CN¥19.1m | CN¥8.6m | CN¥29.9m | CN¥21.5m | — | — | — |
| Operating income | −CN¥119.2m | −CN¥678.3m | CN¥245.0m | CN¥6.75bn | CN¥1.12bn | CN¥25.4m | CN¥5.7m | CN¥110.0m | CN¥24.2m | −CN¥97.4m |
| Net income | −CN¥888.1m | −CN¥621.6m | CN¥702.2m | CN¥5.55bn | CN¥865.8m | CN¥27.2m | −CN¥59.2m | CN¥108.4m | CN¥26.3m | CN¥23.4m |
| Diluted earnings per share | -1.02 | -0.68 | 0.77 | 6.09 | 1.17 | 0.04 | -0.11 | 0.20 | 0.05 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥22.48bn | CN¥21.75bn | CN¥20.75bn | CN¥18.43bn | CN¥7.30bn | CN¥4.86bn | CN¥4.88bn | CN¥4.15bn | CN¥2.93bn | CN¥2.52bn |
| Cash and short-term investments | CN¥2.88bn | CN¥1.82bn | CN¥2.92bn | CN¥6.58bn | CN¥1.15bn | CN¥379.4m | CN¥399.8m | CN¥372.0m | CN¥469.6m | CN¥123.1m |
| Total liabilities | CN¥10.83bn | CN¥9.42bn | CN¥7.48bn | CN¥5.43bn | CN¥2.17bn | CN¥1.54bn | CN¥2.24bn | CN¥1.45bn | CN¥829.0m | CN¥978.2m |
| Debt | CN¥8.53bn | CN¥5.72bn | CN¥4.67bn | CN¥3.45bn | CN¥888.1m | CN¥715.1m | CN¥1.11bn | CN¥697.6m | CN¥407.0m | CN¥453.4m |
| Shareholders' equity | CN¥10.25bn | CN¥12.03bn | CN¥12.96bn | CN¥12.73bn | CN¥5.11bn | CN¥3.22bn | CN¥2.54bn | CN¥2.29bn | CN¥2.02bn | CN¥1.42bn |
| Shares outstanding | 874m | 908m | 913m | 912m | 743m | 744m | 535m | 535m | 490m | 561m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.07bn | CN¥1.32bn | CN¥1.53bn | CN¥1.73bn | CN¥218.8m | −CN¥226.2m | CN¥18.8m | −CN¥20.9m | CN¥55.5m | CN¥50.1m |
| Capital spending | −CN¥930.2m | −CN¥2.28bn | −CN¥3.42bn | −CN¥1.04bn | −CN¥377.2m | −CN¥331.0m | −CN¥395.7m | −CN¥325.5m | −CN¥213.9m | −CN¥63.7m |
| Free cash flow | CN¥139.9m | −CN¥961.5m | −CN¥1.89bn | CN¥696.1m | −CN¥158.3m | −CN¥557.2m | −CN¥376.9m | −CN¥346.5m | −CN¥158.4m | −CN¥13.7m |
| Dividends paid | −CN¥199.0m | −CN¥431.4m | −CN¥767.5m | −CN¥187.3m | −CN¥25.5m | −CN¥76.0m | −CN¥39.7m | −CN¥50.2m | −CN¥33.4m | −CN¥31.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.07bn | CN¥3.28bn | CN¥1.97bn | CN¥1.48bn | CN¥927.7m | CN¥686.2m | CN¥1.08bn | CN¥919.3m |
| Gross profit | CN¥1.22bn | CN¥1.12bn | CN¥588.8m | CN¥374.3m | −CN¥522.5m | CN¥22.1m | −CN¥306.3m | CN¥57.4m |
| Operating income | CN¥1.08bn | CN¥1.00bn | CN¥190.8m | CN¥339.2m | −CN¥710.6m | −CN¥78.4m | −CN¥116.2m | −CN¥25.8m |
| Net income | CN¥547.8m | CN¥464.0m | −CN¥135.8m | CN¥88.7m | −CN¥686.3m | −CN¥154.7m | −CN¥159.9m | −CN¥274.7m |
| Diluted earnings per share | 0.63 | 0.53 | -0.16 | 0.10 | -0.79 | -0.18 | -0.18 | -0.30 |
| Cash from operations | — | — | CN¥855.0m | −CN¥13.0m | −CN¥167.0m | CN¥346.0m | CN¥544.0m | CN¥360.0m |
| Capital spending | −CN¥163.0m | −CN¥157.0m | −CN¥175.0m | −CN¥138.0m | −CN¥97.0m | −CN¥519.0m | −CN¥287.0m | −CN¥649.0m |
| Free cash flow | — | — | CN¥680.0m | −CN¥151.0m | −CN¥264.0m | −CN¥173.0m | CN¥257.0m | −CN¥289.0m |
| Total assets | CN¥29.93bn | CN¥25.50bn | CN¥22.48bn | CN¥21.87bn | CN¥22.40bn | CN¥22.90bn | CN¥21.75bn | CN¥21.24bn |
| Cash and short-term investments | — | — | CN¥2.88bn | CN¥2.62bn | CN¥3.10bn | CN¥3.08bn | CN¥1.82bn | CN¥1.73bn |
| Debt | CN¥5.99bn | CN¥2.52bn | CN¥8.18bn | CN¥6.22bn | CN¥6.78bn | CN¥6.50bn | CN¥5.71bn | CN¥5.76bn |
| Shareholders' equity | CN¥11.28bn | CN¥10.73bn | CN¥10.25bn | CN¥10.50bn | CN¥10.76bn | CN¥11.51bn | CN¥12.03bn | CN¥12.13bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.5% | -4.4% | 11.2% | 60.1% | 45.4% | 2.7% |
| Operating margin | -2.4% | -14.8% | 3.1% | 56.1% | 37.2% | 1.4% |
| Net margin | -17.6% | -13.6% | 8.8% | 46.1% | 28.7% | 1.5% |
| Return on equity | -8.7% | -5.2% | 5.4% | 43.6% | 16.9% | 0.8% |
| Return on assets | -4.0% | -2.9% | 3.4% | 30.1% | 11.9% | 0.6% |
| Free cash flow yield | 8.4% | 14.6% | 20.0% | 11.2% | 3.0% | 0.5% |
| Revenue growth | 10.0% | -42.4% | -34.0% | 299.0% | 68.5% | -21.4% |
| Earnings growth | 42.9% | -188.5% | -87.4% | 541.3% | 3086.0% | -145.9% |
| Current ratio | 0.85x | 0.84x | 1.44x | 2.96x | 2.34x | 1.38x |
| Debt to equity | 0.80x | 0.47x | 0.36x | 0.27x | 0.17x | 0.21x |
| Equity ratio | 45.6% | 55.3% | 62.5% | 69.0% | 70.0% | 66.2% |
| Interest coverage | -0.49x | -2.72x | 1.29x | 84.82x | 22.80x | 0.32x |
| R&D as a share of sales | 0.2% | 0.1% | 0.1% | 0.2% | 0.3% | 1.7% |
| Buybacks as a share of market value | 3.8% | 0.6% | -0.1% | -22.7% | 0.1% | -39.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.2% | 23.0% | 13.3% |
| Operating income | — | — | -7.0% |
| Net income | — | — | 16.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.0% | 29.4% | 29.4% | 24.8% |
| Operating margin | -8.3% | 20.9% | 21.4% | 16.2% |
| Net margin | -15.7% | 16.0% | 16.4% | 12.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -33.9 | -20.1 | 29.6 | 6.2 | 49.7 | — | -71.8 | 36.0 | 276.6 | 277.3 |
| Price to sales | 6.0 | 2.7 | 2.6 | 2.8 | 14.3 | 10.2 | 1.9 | 1.6 | 3.6 | 4.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Apr 2024.
| FY2024 | FY2023 | FY2022 | FY2009 | |
|---|---|---|---|---|
| Paid in the year | 0.24 | 0.65 | 0.10 | 0.063 |
- 8-for-5 split · 6 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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