C 
1.47
+8.09%
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¥14.67bn
FY2016FY2025
Net income
−CN¥1.31bn
FY2016FY2025
Free cash flow
−CN¥1.92bn
FY2016FY2025
Shareholders' equity
CN¥9.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.67bn | CN¥15.44bn | CN¥15.67bn | CN¥14.32bn | CN¥8.24bn | CN¥7.01bn | CN¥6.42bn | CN¥5.77bn | CN¥5.57bn | CN¥5.66bn |
| Gross profit | CN¥4.02bn | CN¥4.02bn | CN¥3.64bn | CN¥3.80bn | CN¥2.97bn | CN¥2.86bn | CN¥2.45bn | CN¥1.80bn | CN¥1.67bn | CN¥1.87bn |
| Operating income | CN¥2.61bn | CN¥2.61bn | CN¥855.4m | CN¥1.17bn | CN¥2.31bn | CN¥2.20bn | CN¥2.10bn | CN¥892.8m | CN¥335.1m | CN¥606.4m |
| Net income | −CN¥1.31bn | −CN¥1.65bn | CN¥204.0m | CN¥655.1m | CN¥1.19bn | CN¥896.8m | CN¥397.4m | −CN¥577.8m | −CN¥1.14bn | −CN¥864.3m |
| Diluted earnings per share | -0.17 | -0.21 | 0.03 | 0.08 | 0.17 | 0.14 | 0.06 | -0.10 | -0.19 | -0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥42.62bn | CN¥39.53bn | CN¥36.56bn | CN¥33.57bn | CN¥27.57bn | CN¥18.13bn | CN¥18.31bn | CN¥18.57bn | CN¥19.47bn | CN¥20.74bn |
| Cash and short-term investments | CN¥7.67bn | CN¥3.56bn | CN¥2.29bn | CN¥2.50bn | CN¥2.20bn | CN¥1.38bn | CN¥1.14bn | CN¥866.3m | CN¥830.6m | CN¥1.26bn |
| Total liabilities | CN¥31.18bn | CN¥26.57bn | CN¥22.77bn | CN¥20.01bn | CN¥14.63bn | CN¥8.77bn | CN¥9.92bn | CN¥10.94bn | CN¥11.21bn | CN¥12.44bn |
| Debt | CN¥21.58bn | CN¥16.90bn | CN¥13.52bn | CN¥13.54bn | CN¥9.06bn | CN¥5.86bn | CN¥6.82bn | CN¥7.15bn | CN¥7.43bn | CN¥6.81bn |
| Shareholders' equity | CN¥9.66bn | CN¥11.10bn | CN¥13.04bn | CN¥13.12bn | CN¥12.65bn | CN¥9.20bn | CN¥8.25bn | CN¥7.51bn | CN¥8.12bn | CN¥8.18bn |
| Shares outstanding | 7,835m | 7,827m | 7,919m | 7,893m | 7,185m | 6,459m | 6,408m | 6,075m | 6,097m | 5,301m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥2.37bn | CN¥2.80bn | CN¥6.35bn | CN¥1.84bn | CN¥2.18bn | CN¥2.26bn | CN¥2.39bn | CN¥1.64bn | CN¥583.3m | CN¥1.32bn |
| Capital spending | −CN¥4.29bn | −CN¥5.15bn | −CN¥5.04bn | −CN¥4.73bn | −CN¥2.32bn | −CN¥1.73bn | −CN¥1.82bn | −CN¥1.85bn | −CN¥1.87bn | −CN¥2.04bn |
| Free cash flow | −CN¥1.92bn | −CN¥2.35bn | CN¥1.30bn | −CN¥2.89bn | −CN¥146.2m | CN¥529.2m | CN¥570.8m | −CN¥208.8m | −CN¥1.28bn | −CN¥715.8m |
| Dividends paid | −CN¥108.4m | −CN¥40.6m | −CN¥130.4m | −CN¥238.0m | −CN¥166.0m | −CN¥166.0m | −CN¥166.0m | −CN¥166.0m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.57bn | CN¥7.60bn | CN¥7.07bn | CN¥7.96bn | CN¥7.48bn | CN¥7.95bn | CN¥7.73bn | CN¥7.76bn |
| Gross profit | CN¥377.5m | CN¥2.16bn | CN¥1.87bn | CN¥2.07bn | CN¥1.95bn | CN¥1.87bn | CN¥1.77bn | CN¥1.88bn |
| Operating income | −CN¥310.0m | CN¥1.38bn | CN¥1.23bn | CN¥1.31bn | CN¥1.30bn | CN¥1.08bn | CN¥1.12bn | CN¥1.16bn |
| Net income | CN¥21.5m | −CN¥250.6m | −CN¥1.06bn | −CN¥1.38bn | −CN¥265.9m | −CN¥39.7m | CN¥243.7m | CN¥63.8m |
| Diluted earnings per share | 0.00 | -0.03 | -0.14 | -0.18 | -0.03 | -0.01 | 0.03 | 0.01 |
| Cash from operations | — | CN¥2.12bn | CN¥570.0m | CN¥2.34bn | CN¥462.0m | CN¥3.80bn | CN¥2.54bn | CN¥343.0m |
| Capital spending | — | −CN¥2.44bn | −CN¥1.95bn | −CN¥3.21bn | −CN¥1.93bn | −CN¥3.14bn | −CN¥1.84bn | −CN¥2.87bn |
| Free cash flow | — | −CN¥322.0m | −CN¥1.38bn | −CN¥875.0m | −CN¥1.47bn | CN¥662.0m | CN¥699.0m | −CN¥2.53bn |
| Total assets | CN¥42.96bn | CN¥42.62bn | CN¥38.88bn | CN¥39.53bn | CN¥37.51bn | CN¥36.56bn | CN¥33.88bn | CN¥33.57bn |
| Cash and short-term investments | CN¥8.25bn | CN¥7.67bn | CN¥4.54bn | CN¥3.56bn | CN¥4.25bn | CN¥2.29bn | CN¥2.77bn | CN¥2.50bn |
| Debt | CN¥9.09bn | CN¥25.13bn | CN¥22.46bn | CN¥19.68bn | CN¥18.68bn | CN¥15.74bn | CN¥16.42bn | CN¥15.77bn |
| Shareholders' equity | CN¥9.63bn | CN¥9.66bn | CN¥9.94bn | CN¥11.10bn | CN¥12.49bn | CN¥13.04bn | CN¥13.23bn | CN¥13.12bn |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.4% | 26.0% | 23.2% | 26.6% | 36.0% | 40.8% |
| Operating margin | 17.8% | 16.9% | 5.5% | 8.1% | 28.1% | 31.4% |
| Net margin | -9.0% | -10.7% | 1.3% | 4.6% | 14.4% | 12.8% |
| Return on equity | -13.6% | -14.9% | 1.6% | 5.0% | 9.4% | 9.8% |
| Return on assets | -3.1% | -4.2% | 0.6% | 2.0% | 4.3% | 4.9% |
| Free cash flow yield | 51.1% | 61.0% | 86.3% | 49.9% | 37.6% | 37.1% |
| Revenue growth | -4.9% | -1.5% | 9.5% | 73.7% | 17.6% | 9.2% |
| Earnings growth | -20.3% | -908.8% | -68.9% | -44.8% | 32.3% | 125.6% |
| Current ratio | 0.96x | 0.94x | 0.81x | 0.94x | 0.88x | 0.62x |
| Debt to equity | 2.35x | 1.54x | 1.05x | 1.12x | 0.77x | 0.71x |
| Equity ratio | 22.7% | 28.1% | 35.7% | 39.1% | 45.9% | 50.7% |
| Interest coverage | 3.62x | 4.24x | 1.45x | 2.47x | 8.04x | 6.82x |
| Buybacks as a share of market value | -0.1% | 1.2% | -0.3% | -9.9% | -11.2% | -0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | 15.9% | 10.1% |
| Operating income | 30.9% | 3.5% | 6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.7% | 25.8% | 28.3% | 29.7% |
| Operating margin | 17.4% | 12.1% | 15.6% | 16.4% |
| Net margin | -9.8% | -3.5% | -0.0% | -1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.7 | -4.1 | 26.1 | 10.7 | 6.5 | 11.3 | 16.6 | -7.2 | -6.8 | -10.5 |
| Price to sales | 0.8 | 0.4 | 0.3 | 0.5 | 0.9 | 1.4 | 1.0 | 0.7 | 1.4 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 16 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2015 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.013 | 0.005 | 0.016 | 0.031 | 0.024 | 0.01 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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