S 
1.44
-2.04%
Close of 9 Nov 2026, in HKD
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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¥61.88bn
FY2016FY2025
Net income
CN¥458.1m
FY2016FY2025
Free cash flow
−CN¥2.29bn
FY2016FY2025
Shareholders' equity
CN¥54.27bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥61.88bn | CN¥103.91bn | CN¥139.12bn | CN¥135.72bn | CN¥197.44bn | CN¥170.16bn | CN¥101.14bn | CN¥63.80bn | CN¥47.54bn | CN¥32.88bn |
| Gross profit | CN¥15.61bn | CN¥17.45bn | CN¥18.83bn | CN¥20.23bn | CN¥34.85bn | CN¥38.18bn | CN¥31.10bn | CN¥22.57bn | CN¥16.52bn | CN¥9.08bn |
| Operating income | CN¥8.27bn | CN¥7.88bn | CN¥7.25bn | CN¥7.08bn | CN¥20.09bn | CN¥25.14bn | CN¥21.35bn | CN¥16.50bn | CN¥11.07bn | CN¥5.17bn |
| Net income | CN¥458.1m | CN¥572.2m | CN¥1.02bn | CN¥326.9m | CN¥10.00bn | CN¥11.85bn | CN¥9.10bn | CN¥7.87bn | CN¥4.42bn | CN¥1.61bn |
| Diluted earnings per share | 0.07 | 0.08 | 0.15 | 0.05 | 1.62 | 1.91 | 1.54 | 1.28 | 0.78 | 0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥313.97bn | CN¥359.99bn | CN¥439.14bn | CN¥539.74bn | CN¥628.99bn | CN¥634.09bn | CN¥545.29bn | CN¥392.29bn | CN¥220.56bn | CN¥122.14bn |
| Cash and short-term investments | CN¥8.21bn | CN¥8.70bn | CN¥16.09bn | CN¥28.11bn | CN¥56.88bn | CN¥71.37bn | CN¥70.80bn | CN¥48.25bn | CN¥23.92bn | CN¥13.86bn |
| Total liabilities | CN¥215.59bn | CN¥258.92bn | CN¥333.74bn | CN¥431.42bn | CN¥515.54bn | CN¥539.21bn | CN¥477.96bn | CN¥339.04bn | CN¥191.88bn | CN¥104.47bn |
| Debt | CN¥66.93bn | CN¥58.84bn | CN¥64.01bn | CN¥79.50bn | CN¥103.67bn | CN¥105.40bn | CN¥88.05bn | CN¥81.50bn | CN¥49.38bn | CN¥27.21bn |
| Shareholders' equity | CN¥54.27bn | CN¥53.98bn | CN¥53.42bn | CN¥52.12bn | CN¥49.10bn | CN¥41.65bn | CN¥29.11bn | CN¥22.30bn | CN¥14.88bn | CN¥10.75bn |
| Shares outstanding | 7,044m | 7,044m | 7,044m | 6,540m | 6,191m | 6,210m | 5,899m | 6,154m | 5,658m | 5,658m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥2.25bn | −CN¥3.07bn | CN¥6.98bn | CN¥8.69bn | CN¥18.16bn | −CN¥7.72bn | CN¥43.85bn | CN¥373.8m | −CN¥15.81bn | CN¥6.49bn |
| Capital spending | −CN¥49.1m | −CN¥57.5m | −CN¥327.5m | −CN¥1.34bn | −CN¥1.71bn | −CN¥1.41bn | −CN¥659.1m | −CN¥582.4m | −CN¥819.7m | −CN¥662.9m |
| Free cash flow | −CN¥2.29bn | −CN¥3.13bn | CN¥6.66bn | CN¥7.35bn | CN¥16.45bn | −CN¥9.12bn | CN¥43.19bn | −CN¥208.7m | −CN¥16.63bn | CN¥5.83bn |
| Dividends paid | — | — | — | — | −CN¥2.97bn | −CN¥2.24bn | −CN¥2.06bn | −CN¥1.12bn | −CN¥329.5m | −CN¥329.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥20.28bn | CN¥36.06bn | CN¥25.82bn | CN¥64.31bn | CN¥39.60bn | CN¥89.59bn | CN¥49.53bn | CN¥85.23bn |
| Gross profit | CN¥6.09bn | CN¥9.33bn | CN¥6.29bn | CN¥9.50bn | CN¥7.95bn | CN¥10.19bn | CN¥8.64bn | CN¥10.15bn |
| Operating income | CN¥4.05bn | CN¥4.88bn | CN¥3.39bn | CN¥3.76bn | CN¥4.11bn | CN¥2.20bn | CN¥5.05bn | −CN¥1.4m |
| Net income | CN¥698.4m | −CN¥347.2m | CN¥805.3m | −CN¥544.9m | CN¥1.12bn | −CN¥642.7m | CN¥1.67bn | −CN¥1.76bn |
| Diluted earnings per share | 0.10 | -0.05 | 0.11 | -0.08 | 0.16 | -0.09 | 0.24 | -0.27 |
| Cash from operations | — | −CN¥887.0m | −CN¥1.36bn | −CN¥6.51bn | CN¥3.44bn | −CN¥3.34bn | CN¥6.78bn | −CN¥4.62bn |
| Capital spending | — | −CN¥7.0m | −CN¥56.0m | −CN¥40.0m | −CN¥97.0m | −CN¥63.0m | −CN¥253.0m | −CN¥73.0m |
| Free cash flow | — | −CN¥894.0m | −CN¥1.41bn | −CN¥6.55bn | CN¥3.34bn | −CN¥3.40bn | CN¥6.53bn | −CN¥4.69bn |
| Total assets | CN¥301.16bn | CN¥313.97bn | CN¥339.02bn | CN¥359.99bn | CN¥417.49bn | CN¥439.14bn | CN¥515.83bn | CN¥539.74bn |
| Cash and short-term investments | CN¥9.29bn | CN¥8.21bn | CN¥9.02bn | CN¥8.70bn | CN¥15.36bn | CN¥16.09bn | CN¥25.95bn | CN¥28.11bn |
| Debt | CN¥12.44bn | CN¥66.93bn | CN¥69.10bn | CN¥69.00bn | CN¥73.62bn | CN¥75.17bn | CN¥86.47bn | CN¥93.42bn |
| Shareholders' equity | CN¥55.49bn | CN¥54.27bn | CN¥54.69bn | CN¥53.98bn | CN¥54.53bn | CN¥53.42bn | CN¥53.31bn | CN¥52.12bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.2% | 16.8% | 13.5% | 14.9% | 17.7% | 22.4% |
| Operating margin | 13.4% | 7.6% | 5.2% | 5.2% | 10.2% | 14.8% |
| Net margin | 0.7% | 0.6% | 0.7% | 0.2% | 5.1% | 7.0% |
| Return on equity | 0.8% | 1.1% | 1.9% | 0.6% | 20.4% | 28.5% |
| Return on assets | 0.1% | 0.2% | 0.2% | 0.1% | 1.6% | 1.9% |
| Free cash flow yield | -18.4% | -25.3% | 61.3% | 90.6% | 189.4% | -60.0% |
| Revenue growth | -40.4% | -25.3% | 2.5% | -31.3% | 16.0% | 68.2% |
| Earnings growth | -19.9% | -44.1% | 213.3% | -96.7% | -15.6% | 30.3% |
| Current ratio | 0.53x | 0.90x | 0.92x | 0.96x | 1.06x | 1.10x |
| Debt to equity | 1.18x | 1.25x | 1.38x | 1.78x | 2.47x | 2.93x |
| Equity ratio | 17.3% | 15.0% | 12.2% | 9.7% | 7.8% | 6.6% |
| Interest coverage | 2.35x | 2.45x | 2.39x | 2.06x | 12.42x | 13.24x |
| Buybacks as a share of market value | 0.0% | 0.0% | -7.7% | -5.6% | 0.3% | -5.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -23.0% | -18.3% | 8.3% |
| Operating income | 5.3% | -19.9% | 8.9% |
| Net income | 11.9% | -47.8% | -9.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.9% | 16.4% | 18.0% | 21.4% |
| Operating margin | 9.7% | 6.9% | 9.4% | 12.3% |
| Net margin | 0.6% | 0.5% | 3.0% | 4.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.3 | 21.1 | 7.9 | 52.8 | 3.0 | 3.4 | 6.2 | 4.2 | 6.3 | 5.6 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.6 | 0.5 | 0.6 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jun 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.494 | 0.339 | 0.349 | 0.27 | 0.057 | 0.059 | 0.063 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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