V 
6.15
-4.35%
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¥8.14bn
FY2016FY2025
Net income
−CN¥2.39bn
FY2016FY2025
Free cash flow
CN¥1.85bn
FY2016FY2025
Shareholders' equity
CN¥3.27bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.14bn | CN¥7.93bn | CN¥5.93bn | CN¥7.48bn | CN¥6.21bn | CN¥3.43bn | CN¥2.69bn | CN¥1.78bn | CN¥159.2m |
| Research and development | CN¥1.04bn | CN¥1.15bn | CN¥1.19bn | CN¥1.11bn | CN¥1.11bn | CN¥658.6m | CN¥581.8m | CN¥521.2m | CN¥1.1m |
| Operating income | −CN¥1.93bn | −CN¥2.60bn | −CN¥5.05bn | −CN¥3.18bn | −CN¥1.78bn | CN¥953.5m | −CN¥738.8m | −CN¥1.33bn | −CN¥62.5m |
| Net income | −CN¥2.39bn | −CN¥2.51bn | −CN¥3.73bn | −CN¥2.07bn | −CN¥1.52bn | CN¥203.6m | CN¥64.0m | CN¥34.6m | CN¥26.2m |
| Diluted earnings per share | -1.71 | -1.81 | -2.71 | -1.51 | -1.11 | 0.15 | 0.05 | 0.03 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥47.11bn | CN¥38.09bn | CN¥39.09bn | CN¥40.02bn | CN¥38.67bn | CN¥38.52bn | CN¥37.15bn | CN¥36.87bn | CN¥1.36bn |
| Cash and short-term investments | — | CN¥5.90bn | CN¥6.69bn | CN¥6.49bn | CN¥4.02bn | CN¥3.47bn | CN¥4.32bn | CN¥8.50bn | CN¥117.4m |
| Total liabilities | CN¥40.13bn | CN¥30.34bn | CN¥28.28bn | CN¥24.82bn | CN¥21.11bn | CN¥19.04bn | CN¥17.94bn | CN¥17.72bn | CN¥603.3m |
| Debt | CN¥8.73bn | CN¥11.56bn | CN¥20.00bn | CN¥13.23bn | CN¥9.39bn | CN¥7.35bn | CN¥6.80bn | CN¥6.94bn | CN¥452.2m |
| Shareholders' equity | CN¥3.27bn | CN¥5.55bn | CN¥8.14bn | CN¥11.71bn | CN¥13.60bn | CN¥15.19bn | CN¥14.97bn | CN¥14.91bn | CN¥753.4m |
| Shares outstanding | 1,397m | 1,386m | 1,375m | 1,369m | 1,368m | 1,368m | 1,368m | 1,368m | 469m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥2.31bn | CN¥365.7m | CN¥2.17bn | CN¥2.85bn | CN¥2.28bn | CN¥755.4m | CN¥1.21bn | CN¥876.2m | −CN¥48.1m |
| Capital spending | −CN¥455.8m | −CN¥959.6m | −CN¥1.46bn | −CN¥1.15bn | −CN¥820.9m | −CN¥2.41bn | −CN¥3.49bn | −CN¥13.73bn | −CN¥870.9m |
| Free cash flow | CN¥1.85bn | −CN¥593.9m | CN¥704.0m | CN¥1.70bn | CN¥1.46bn | −CN¥1.66bn | −CN¥2.28bn | −CN¥12.85bn | −CN¥918.9m |
| Dividends paid | −CN¥811.8m | −CN¥930.3m | −CN¥965.4m | −CN¥850.7m | −CN¥788.5m | −CN¥762.7m | −CN¥768.4m | −CN¥904.8m | −CN¥16.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.13bn | CN¥1.87bn | CN¥2.09bn | CN¥1.93bn | CN¥2.31bn | CN¥1.81bn | CN¥2.08bn | CN¥1.91bn |
| Operating income | −CN¥580.1m | −CN¥51.9m | −CN¥569.5m | −CN¥443.0m | −CN¥491.8m | −CN¥630.0m | −CN¥811.6m | −CN¥539.4m |
| Net income | −CN¥892.4m | −CN¥626.2m | −CN¥765.8m | −CN¥561.2m | −CN¥531.6m | −CN¥530.4m | −CN¥708.4m | −CN¥620.4m |
| Diluted earnings per share | -0.64 | -0.45 | -0.55 | -0.40 | -0.38 | -0.38 | -0.51 | -0.45 |
| Cash from operations | — | — | — | CN¥889.0m | CN¥814.0m | CN¥706.0m | −CN¥220.0m | −CN¥669.0m |
| Capital spending | −CN¥443.0m | −CN¥432.0m | −CN¥137.0m | −CN¥153.0m | −CN¥27.0m | −CN¥137.0m | −CN¥524.0m | −CN¥92.0m |
| Free cash flow | — | — | — | CN¥736.0m | CN¥787.0m | CN¥569.0m | −CN¥744.0m | −CN¥761.0m |
| Total assets | CN¥48.08bn | CN¥46.62bn | CN¥47.11bn | CN¥39.16bn | CN¥38.08bn | CN¥37.56bn | CN¥38.09bn | CN¥38.32bn |
| Cash and short-term investments | — | — | — | CN¥7.34bn | CN¥6.74bn | CN¥7.01bn | CN¥5.90bn | CN¥6.79bn |
| Debt | CN¥10.75bn | CN¥10.29bn | CN¥8.73bn | CN¥17.50bn | CN¥12.51bn | CN¥13.31bn | CN¥11.36bn | CN¥10.87bn |
| Shareholders' equity | CN¥1.76bn | CN¥2.61bn | CN¥3.27bn | CN¥4.02bn | CN¥4.49bn | CN¥5.02bn | CN¥5.55bn | CN¥6.17bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -23.7% | -32.8% | -85.2% | -42.6% | -28.7% | 27.8% |
| Net margin | -29.3% | -31.6% | -62.9% | -27.6% | -24.5% | 5.9% |
| Return on equity | -73.1% | -45.1% | -45.8% | -17.6% | -11.2% | 1.3% |
| Return on assets | -5.1% | -6.6% | -9.5% | -5.2% | -3.9% | 0.5% |
| Free cash flow yield | 29.5% | 14.3% | 39.4% | 43.6% | 33.9% | 34.6% |
| Revenue growth | 2.7% | 33.8% | -20.7% | 20.3% | 80.9% | 27.7% |
| Earnings growth | -4.6% | -32.8% | 80.3% | 35.9% | -846.9% | 217.9% |
| Current ratio | 0.50x | 0.53x | 0.51x | 0.58x | 0.58x | 0.58x |
| Debt to equity | 2.67x | 2.05x | 2.22x | 0.86x | 0.67x | 0.43x |
| Equity ratio | 6.9% | 14.6% | 20.8% | 29.3% | 35.2% | 39.4% |
| Interest coverage | -2.30x | -2.66x | -5.27x | -3.45x | -2.32x | 1.31x |
| R&D as a share of sales | 12.8% | 14.5% | 20.1% | 14.9% | 17.9% | 19.2% |
| Buybacks as a share of market value | -0.8% | -0.8% | -0.5% | -0.1% | -0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.9% | 18.9% | 34.2% |
| Operating income | -15.3% | — | 13.8% |
| Net income | 5.0% | — | 14.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -28.2% | -43.3% | -34.7% | -37.3% |
| Net margin | -30.5% | -36.3% | -30.7% | -28.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.0 | -5.7 | -4.1 | -4.2 | -8.3 | 76.6 | 339.7 | 300.9 | — | 312.1 |
| Price to sales | 1.5 | 1.8 | 2.6 | 1.2 | 2.0 | 4.5 | 8.1 | 5.9 | 247.6 | 51.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 May 2015.
| FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|
| Paid in the year | 0.007 | 0.007 | 0.02 | 0.051 | 0.029 |
- 3-for-2 split · 20 May 2015
- 13-for-10 split · 30 May 2012
- 9-for-5 split · 26 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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