T 
3.75
+2.18%
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¥24.21bn
FY2016FY2025
Net income
−CN¥1.19bn
FY2016FY2025
Free cash flow
CN¥587.4m
FY2016FY2025
Shareholders' equity
CN¥4.73bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥24.21bn | CN¥24.34bn | CN¥26.95bn | CN¥26.54bn | CN¥21.74bn | CN¥18.53bn | CN¥15.36bn | CN¥15.42bn | CN¥13.74bn | CN¥10.88bn |
| Gross profit | CN¥1.97bn | CN¥2.08bn | CN¥361.6m | CN¥1.86bn | CN¥870.8m | CN¥2.46bn | CN¥1.47bn | CN¥1.25bn | CN¥1.43bn | CN¥1.03bn |
| Research and development | CN¥131.6m | CN¥101.8m | CN¥132.4m | CN¥141.4m | CN¥143.1m | CN¥206.2m | CN¥163.8m | CN¥92.6m | CN¥57.5m | CN¥78.8m |
| Operating income | −CN¥335.3m | CN¥286.1m | −CN¥1.31bn | CN¥205.3m | −CN¥994.8m | CN¥1.11bn | CN¥354.7m | CN¥287.7m | CN¥459.1m | CN¥291.9m |
| Net income | −CN¥1.19bn | CN¥355.4m | −CN¥1.53bn | CN¥135.2m | −CN¥1.15bn | CN¥950.3m | CN¥202.4m | CN¥136.9m | CN¥310.3m | CN¥201.0m |
| Diluted earnings per share | -0.84 | 0.24 | -1.07 | 0.12 | -1.02 | 1.07 | 0.23 | 0.16 | 0.39 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥16.49bn | CN¥17.99bn | CN¥17.01bn | CN¥18.43bn | CN¥14.54bn | CN¥10.28bn | CN¥7.28bn | CN¥6.53bn | CN¥6.03bn | CN¥4.71bn |
| Cash and short-term investments | — | CN¥2.32bn | CN¥2.10bn | CN¥1.88bn | CN¥1.40bn | CN¥1.10bn | CN¥748.6m | CN¥637.3m | CN¥552.8m | CN¥521.0m |
| Total liabilities | CN¥10.96bn | CN¥11.40bn | CN¥11.03bn | CN¥11.00bn | CN¥8.42bn | CN¥4.42bn | CN¥3.48bn | CN¥2.58bn | CN¥2.11bn | CN¥1.74bn |
| Debt | CN¥3.02bn | CN¥5.32bn | CN¥7.79bn | CN¥6.60bn | CN¥5.15bn | CN¥2.49bn | CN¥2.02bn | CN¥1.18bn | CN¥780.2m | CN¥583.0m |
| Shareholders' equity | CN¥4.73bn | CN¥5.89bn | CN¥5.50bn | CN¥6.80bn | CN¥5.51bn | CN¥5.34bn | CN¥3.33bn | CN¥3.41bn | CN¥3.43bn | CN¥2.53bn |
| Shares outstanding | 1,420m | 1,452m | 1,424m | 1,152m | 1,120m | 890m | 863m | 834m | 805m | 751m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥914.8m | CN¥936.4m | CN¥535.6m | CN¥99.7m | −CN¥378.8m | CN¥1.05bn | CN¥542.1m | CN¥562.8m | CN¥417.6m | CN¥355.8m |
| Capital spending | −CN¥327.4m | −CN¥383.9m | −CN¥1.11bn | −CN¥2.10bn | −CN¥3.49bn | −CN¥2.11bn | −CN¥831.3m | −CN¥679.5m | −CN¥349.1m | −CN¥236.2m |
| Free cash flow | CN¥587.4m | CN¥552.5m | −CN¥577.9m | −CN¥2.00bn | −CN¥3.87bn | −CN¥1.06bn | −CN¥289.2m | −CN¥116.7m | CN¥68.6m | CN¥119.6m |
| Dividends paid | −CN¥235.3m | −CN¥313.1m | −CN¥371.8m | −CN¥258.3m | −CN¥156.6m | −CN¥192.3m | −CN¥82.9m | −CN¥202.7m | −CN¥118.7m | −CN¥88.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.50bn | CN¥5.38bn | CN¥5.63bn | CN¥6.12bn | CN¥6.49bn | CN¥5.97bn | CN¥7.27bn | CN¥6.23bn |
| Gross profit | CN¥128.4m | CN¥100.1m | −CN¥106.7m | CN¥334.7m | CN¥437.7m | CN¥328.5m | CN¥538.7m | CN¥711.4m |
| Operating income | −CN¥200.4m | −CN¥209.2m | −CN¥406.7m | −CN¥291.4m | CN¥29.5m | −CN¥18.5m | CN¥54.5m | CN¥245.5m |
| Net income | −CN¥421.0m | −CN¥625.4m | −CN¥822.2m | −CN¥304.9m | CN¥17.1m | −CN¥77.1m | CN¥101.7m | CN¥249.1m |
| Diluted earnings per share | -0.30 | -0.44 | -0.58 | -0.21 | 0.01 | -0.05 | 0.07 | 0.17 |
| Cash from operations | — | — | — | CN¥174.0m | CN¥537.0m | CN¥123.0m | — | CN¥399.0m |
| Capital spending | −CN¥40.0m | −CN¥73.0m | −CN¥70.0m | −CN¥88.0m | −CN¥94.0m | −CN¥74.0m | −CN¥16.0m | −CN¥143.0m |
| Free cash flow | — | — | — | CN¥86.0m | CN¥443.0m | CN¥49.0m | — | CN¥256.0m |
| Total assets | CN¥16.06bn | CN¥16.78bn | CN¥16.49bn | CN¥17.90bn | CN¥18.20bn | CN¥18.29bn | CN¥17.99bn | CN¥17.99bn |
| Cash and short-term investments | — | — | — | CN¥2.23bn | CN¥2.49bn | CN¥2.40bn | CN¥2.32bn | CN¥1.91bn |
| Debt | CN¥3.32bn | CN¥3.40bn | CN¥3.02bn | CN¥4.13bn | CN¥4.52bn | CN¥4.90bn | CN¥4.97bn | CN¥5.29bn |
| Shareholders' equity | CN¥3.73bn | CN¥4.16bn | CN¥4.73bn | CN¥5.49bn | CN¥5.80bn | CN¥5.79bn | CN¥5.89bn | CN¥5.84bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 4.1% | 8.6% | 1.3% | 7.0% | 4.0% | 13.3% |
| Operating margin | -3.9% | 2.5% | -4.8% | 1.8% | -4.4% | 6.5% |
| Net margin | -4.9% | 1.5% | -5.7% | 0.5% | -5.3% | 5.1% |
| Return on equity | -25.1% | 6.0% | -27.8% | 2.0% | -20.8% | 17.8% |
| Return on assets | -7.2% | 2.0% | -9.0% | 0.7% | -7.9% | 9.2% |
| Free cash flow yield | 24.1% | 25.1% | 31.9% | 52.5% | 76.5% | 97.6% |
| Revenue growth | -0.5% | -9.7% | 1.5% | 22.1% | 17.4% | 20.7% |
| Earnings growth | -434.0% | -123.3% | -1228.8% | -111.8% | -220.7% | 369.6% |
| Current ratio | 0.84x | 1.12x | 1.05x | 1.08x | 1.31x | 1.36x |
| Debt to equity | 0.64x | 0.84x | 1.30x | 0.65x | 0.71x | 0.47x |
| Equity ratio | 28.7% | 32.7% | 32.3% | 36.9% | 37.9% | 51.9% |
| Interest coverage | -4.29x | 1.82x | -3.75x | 1.56x | -4.75x | 11.19x |
| R&D as a share of sales | 0.5% | 0.4% | 0.5% | 0.5% | 0.7% | 1.1% |
| Buybacks as a share of market value | 2.1% | -1.9% | -23.6% | -2.9% | -25.8% | -3.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.0% | 5.5% | 9.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.4% | 6.2% | 6.8% | 7.6% |
| Operating margin | -0.1% | -1.1% | -0.7% | 0.3% |
| Net margin | -1.7% | -2.2% | -1.7% | -0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.3 | 20.8 | -7.0 | 60.4 | -7.3 | 7.4 | 38.2 | 34.5 | 20.1 | 31.5 |
| Price to sales | 0.3 | 0.3 | 0.4 | 0.3 | 0.4 | 0.4 | 0.5 | 0.3 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2023.
| FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.037 | 0.13 | 0.23 | 0.10 | 0.15 | 0.10 | 0.087 | 0.087 |
- 3-for-2 split · 6 Jun 2017
- 3-for-2 split · 22 May 2013
- 2-for-1 split · 5 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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