C 
0.27
-11.48%
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¥20.02bn
FY2016FY2025
Net income
−CN¥755.0m
FY2016FY2025
Free cash flow
−CN¥665.8m
FY2016FY2025
Shareholders' equity
CN¥2.02bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥20.02bn | CN¥25.80bn | CN¥33.25bn | CN¥33.37bn | CN¥27.45bn | CN¥23.53bn | CN¥18.88bn | CN¥12.89bn | CN¥8.95bn | CN¥7.29bn |
| Gross profit | CN¥1.15bn | CN¥1.82bn | CN¥2.42bn | CN¥2.93bn | CN¥3.23bn | CN¥2.37bn | CN¥1.81bn | CN¥1.25bn | CN¥954.6m | CN¥672.4m |
| Operating income | −CN¥715.6m | −CN¥2.79bn | CN¥762.9m | CN¥1.31bn | CN¥1.98bn | CN¥1.33bn | CN¥950.6m | CN¥531.2m | CN¥453.4m | CN¥283.8m |
| Net income | −CN¥755.0m | −CN¥2.64bn | CN¥163.3m | CN¥606.7m | CN¥1.36bn | CN¥874.0m | CN¥641.4m | CN¥422.6m | CN¥321.1m | CN¥177.1m |
| Diluted earnings per share | -0.56 | -1.96 | 0.12 | 0.47 | 1.08 | 0.70 | 0.55 | 0.36 | 0.29 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.52bn | CN¥13.37bn | CN¥16.56bn | CN¥16.58bn | CN¥11.42bn | CN¥9.05bn | CN¥6.90bn | CN¥4.86bn | CN¥3.46bn | CN¥3.02bn |
| Cash and short-term investments | CN¥2.02bn | CN¥3.09bn | CN¥3.40bn | CN¥2.73bn | CN¥3.05bn | CN¥2.96bn | CN¥1.31bn | CN¥1.01bn | CN¥634.9m | CN¥496.3m |
| Total liabilities | CN¥5.38bn | CN¥9.93bn | CN¥10.40bn | CN¥11.42bn | CN¥6.62bn | CN¥5.15bn | CN¥4.84bn | CN¥3.23bn | CN¥2.19bn | CN¥1.97bn |
| Debt | CN¥2.46bn | CN¥4.08bn | CN¥5.03bn | CN¥5.64bn | CN¥2.58bn | CN¥2.21bn | CN¥1.92bn | CN¥1.17bn | CN¥816.9m | CN¥784.6m |
| Shareholders' equity | CN¥2.02bn | CN¥3.30bn | CN¥6.00bn | CN¥4.98bn | CN¥4.60bn | CN¥3.76bn | CN¥1.99bn | CN¥1.61bn | CN¥1.23bn | CN¥1.01bn |
| Shares outstanding | 1,346m | 1,346m | 1,348m | 1,283m | 1,262m | 1,245m | 1,158m | 1,158m | 1,098m | 1,088m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥528.1m | CN¥1.01bn | CN¥951.1m | CN¥1.34bn | CN¥2.11bn | CN¥1.39bn | CN¥1.08bn | CN¥334.9m | CN¥333.1m | CN¥349.6m |
| Capital spending | −CN¥137.7m | −CN¥129.2m | −CN¥404.9m | −CN¥330.0m | −CN¥422.5m | −CN¥370.8m | −CN¥462.5m | −CN¥331.2m | −CN¥207.8m | −CN¥173.6m |
| Free cash flow | −CN¥665.8m | CN¥877.7m | CN¥546.2m | CN¥1.01bn | CN¥1.69bn | CN¥1.02bn | CN¥621.2m | CN¥3.7m | CN¥125.3m | CN¥176.0m |
| Dividends paid | −CN¥58.4m | −CN¥51.7m | −CN¥197.1m | −CN¥1.16bn | −CN¥536.7m | −CN¥480.9m | −CN¥196.6m | −CN¥173.6m | −CN¥125.5m | −CN¥58.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.28bn | CN¥9.89bn | CN¥10.13bn | CN¥13.39bn | CN¥12.41bn | CN¥16.85bn | CN¥16.41bn | CN¥18.63bn |
| Gross profit | CN¥389.2m | CN¥673.0m | CN¥475.7m | CN¥878.7m | CN¥939.1m | CN¥1.25bn | CN¥1.17bn | CN¥1.38bn |
| Operating income | −CN¥77.8m | CN¥153.5m | −CN¥869.1m | −CN¥2.97bn | CN¥164.3m | CN¥408.2m | CN¥308.7m | CN¥475.8m |
| Net income | −CN¥271.7m | CN¥59.7m | −CN¥814.7m | −CN¥2.61bn | −CN¥31.4m | CN¥117.9m | CN¥45.4m | CN¥207.1m |
| Diluted earnings per share | -0.20 | 0.04 | -0.61 | -1.94 | -0.02 | 0.09 | 0.03 | 0.16 |
| Cash from operations | — | −CN¥803.0m | CN¥301.0m | CN¥326.0m | CN¥680.0m | CN¥453.0m | CN¥497.0m | CN¥515.0m |
| Capital spending | — | −CN¥56.0m | −CN¥92.0m | −CN¥34.0m | −CN¥94.0m | −CN¥152.0m | −CN¥252.0m | −CN¥206.0m |
| Free cash flow | — | −CN¥859.0m | CN¥209.0m | CN¥292.0m | CN¥586.0m | CN¥301.0m | CN¥245.0m | CN¥309.0m |
| Total assets | CN¥6.53bn | CN¥7.52bn | CN¥8.20bn | CN¥13.37bn | CN¥16.61bn | CN¥16.56bn | CN¥16.74bn | CN¥16.58bn |
| Cash and short-term investments | CN¥1.65bn | CN¥2.02bn | CN¥1.04bn | CN¥3.09bn | CN¥3.26bn | CN¥3.40bn | CN¥3.79bn | CN¥2.73bn |
| Debt | CN¥2.31bn | CN¥2.46bn | CN¥2.53bn | CN¥4.75bn | CN¥5.21bn | CN¥5.87bn | CN¥6.43bn | CN¥6.57bn |
| Shareholders' equity | CN¥1.71bn | CN¥2.02bn | CN¥2.28bn | CN¥3.30bn | CN¥5.90bn | CN¥6.00bn | CN¥5.88bn | CN¥4.98bn |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.7% | 7.0% | 7.3% | 8.8% | 11.8% | 10.1% |
| Operating margin | 1.0% | -10.8% | 2.4% | 3.9% | 6.9% | 5.9% |
| Net margin | -3.8% | -10.2% | 0.5% | 1.8% | 4.9% | 3.7% |
| Return on equity | -37.3% | -79.9% | 2.7% | 12.2% | 29.5% | 23.3% |
| Return on assets | -10.0% | -19.7% | 1.0% | 3.7% | 11.9% | 9.7% |
| Free cash flow yield | -100.0% | 249.9% | 297.8% | 386.4% | 594.2% | 418.3% |
| Revenue growth | -9.6% | -22.4% | -0.3% | 21.5% | 16.7% | 24.7% |
| Earnings growth | -66.7% | -1714.8% | -73.1% | -55.3% | 55.3% | 36.3% |
| Current ratio | 1.17x | 1.05x | 1.43x | 1.21x | 1.36x | 1.67x |
| Debt to equity | 1.22x | 1.03x | 0.74x | 1.02x | 0.36x | 0.29x |
| Equity ratio | 26.9% | 24.7% | 36.2% | 30.0% | 40.3% | 41.5% |
| Interest coverage | 1.79x | -10.01x | 2.47x | 4.08x | 12.18x | 9.54x |
| Buybacks as a share of market value | 0.0% | 0.2% | -5.1% | -1.6% | -1.4% | -7.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.7% | -3.2% | 13.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.5% | 7.4% | 8.5% | 8.8% |
| Operating margin | -7.6% | -1.3% | 1.1% | 2.0% |
| Net margin | -7.4% | -2.3% | -0.2% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.0 | -1.0 | 34.0 | 29.3 | 32.4 | 38.7 | 16.0 | 7.0 | 7.2 | 6.0 |
| Price to sales | 0.1 | 0.1 | 0.2 | 0.5 | 1.6 | 1.4 | 0.5 | 0.2 | 0.3 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 3 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.034 | 0.045 | 0.036 | 0.011 | 0.098 | 0.005 | 0.004 | 0.16 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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