S 
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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¥7.94bn
FY2017FY2025
Net income
CN¥236.1m
FY2017FY2025
Free cash flow
−CN¥56.3m
FY2017FY2025
Shareholders' equity
CN¥6.01bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.94bn | CN¥6.97bn | CN¥7.01bn | CN¥8.30bn | CN¥9.20bn | CN¥4.62bn | CN¥2.83bn | CN¥1.84bn | CN¥1.11bn |
| Gross profit | CN¥1.46bn | CN¥1.53bn | CN¥1.67bn | CN¥1.87bn | CN¥2.90bn | CN¥1.28bn | CN¥720.3m | CN¥424.0m | CN¥233.3m |
| Operating income | CN¥339.0m | −CN¥603.6m | −CN¥412.4m | −CN¥850.2m | CN¥1.91bn | CN¥797.8m | CN¥343.5m | CN¥172.8m | CN¥137.6m |
| Net income | CN¥236.1m | −CN¥451.2m | −CN¥435.1m | −CN¥561.2m | CN¥1.49bn | CN¥596.8m | CN¥269.9m | CN¥98.3m | CN¥43.0m |
| Diluted earnings per share | 0.08 | -0.15 | -0.14 | -0.18 | 0.48 | 0.24 | 0.12 | 0.03 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.46bn | CN¥12.33bn | CN¥13.56bn | CN¥14.55bn | CN¥15.68bn | CN¥12.96bn | CN¥2.27bn | CN¥1.64bn | CN¥2.07bn |
| Cash and short-term investments | CN¥4.71bn | CN¥4.71bn | CN¥5.05bn | CN¥5.44bn | CN¥6.69bn | CN¥9.57bn | CN¥1.09bn | CN¥371.9m | CN¥407.8m |
| Total liabilities | CN¥5.36bn | CN¥6.14bn | CN¥6.30bn | CN¥5.50bn | CN¥5.58bn | CN¥3.22bn | CN¥1.77bn | CN¥1.62bn | CN¥2.14bn |
| Debt | CN¥117.2m | CN¥120.8m | CN¥118.4m | CN¥144.9m | CN¥120.9m | CN¥41.3m | CN¥35.0m | CN¥654.2m | CN¥1.34bn |
| Shareholders' equity | CN¥6.01bn | CN¥6.01bn | CN¥7.03bn | CN¥8.85bn | CN¥9.90bn | CN¥9.68bn | CN¥367.3m | CN¥24.6m | −CN¥73.7m |
| Shares outstanding | 3,057m | 3,057m | 3,057m | 3,057m | 3,093m | 2,482m | 2,310m | 3,000m | 3,000m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥35.7m | CN¥186.2m | CN¥1.00bn | −CN¥459.7m | −CN¥450.5m | CN¥1.02bn | CN¥706.9m | CN¥158.3m | CN¥83.1m |
| Capital spending | −CN¥92.0m | −CN¥61.4m | −CN¥103.8m | −CN¥146.5m | −CN¥170.3m | −CN¥40.5m | −CN¥25.9m | −CN¥21.8m | −CN¥24.1m |
| Free cash flow | −CN¥56.3m | CN¥124.7m | CN¥900.2m | −CN¥606.3m | −CN¥620.7m | CN¥983.3m | CN¥681.0m | CN¥136.6m | CN¥59.0m |
| Dividends paid | −CN¥510.1m | −CN¥448.2m | −CN¥1.28bn | −CN¥444.4m | −CN¥209.6m | −CN¥1.6m | −CN¥180.0m | −CN¥180.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.70bn | CN¥3.81bn | CN¥4.13bn | CN¥3.49bn | CN¥3.48bn | CN¥3.61bn | CN¥3.95bn | CN¥3.65bn |
| Gross profit | CN¥766.2m | CN¥559.0m | CN¥898.4m | CN¥638.8m | CN¥888.4m | CN¥820.4m | CN¥986.9m | CN¥556.4m |
| Operating income | CN¥165.4m | CN¥125.1m | CN¥214.0m | CN¥62.5m | −CN¥666.2m | −CN¥845.1m | CN¥538.9m | CN¥496.0m |
| Net income | CN¥142.7m | CN¥94.2m | CN¥141.9m | CN¥21.0m | −CN¥472.2m | −CN¥775.0m | CN¥395.8m | CN¥313.1m |
| Diluted earnings per share | 0.05 | 0.03 | 0.05 | 0.01 | -0.15 | -0.25 | 0.13 | 0.10 |
| Cash from operations | — | CN¥808.0m | −CN¥861.0m | CN¥678.0m | −CN¥492.0m | CN¥996.0m | CN¥7.0m | CN¥715.0m |
| Capital spending | — | −CN¥55.0m | −CN¥39.0m | −CN¥36.0m | −CN¥24.0m | −CN¥15.0m | −CN¥88.0m | −CN¥76.0m |
| Free cash flow | — | CN¥753.0m | −CN¥900.0m | CN¥642.0m | −CN¥516.0m | CN¥981.0m | −CN¥81.0m | CN¥639.0m |
| Total assets | CN¥10.82bn | CN¥11.46bn | CN¥11.57bn | CN¥10.59bn | CN¥10.26bn | CN¥13.56bn | CN¥14.57bn | CN¥14.55bn |
| Cash and short-term investments | CN¥3.83bn | CN¥4.71bn | CN¥3.35bn | CN¥4.04bn | CN¥3.36bn | CN¥5.05bn | CN¥4.81bn | CN¥5.44bn |
| Debt | CN¥20.2m | CN¥117.2m | CN¥122.9m | CN¥120.8m | CN¥126.1m | CN¥21.5m | CN¥151.6m | CN¥168.8m |
| Shareholders' equity | CN¥6.07bn | CN¥6.01bn | CN¥5.91bn | CN¥5.17bn | CN¥5.15bn | CN¥7.03bn | CN¥8.77bn | CN¥8.85bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.4% | 21.9% | 23.8% | 22.5% | 31.5% | 27.6% |
| Operating margin | 4.6% | -7.6% | -4.9% | -9.5% | 19.9% | 17.7% |
| Net margin | 3.0% | -6.5% | -6.2% | -6.8% | 16.1% | 12.9% |
| Return on equity | 3.9% | -8.7% | -7.2% | -6.3% | 15.0% | 6.2% |
| Return on assets | 2.1% | -4.3% | -3.7% | -3.9% | 9.5% | 4.6% |
| Free cash flow yield | 1.4% | 8.4% | 38.9% | -17.8% | -17.3% | 56.9% |
| Revenue growth | -2.2% | -0.6% | -1.6% | -9.8% | 71.0% | 63.5% |
| Earnings growth | -144.9% | 3.7% | -9.7% | -137.8% | 113.9% | 121.1% |
| Current ratio | 1.66x | 1.48x | 1.67x | 2.03x | 2.25x | 3.73x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 52.4% | 48.8% | 51.8% | 60.9% | 63.1% | 74.7% |
| Interest coverage | 56.54x | -85.31x | -51.00x | -112.80x | 224.70x | 390.70x |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.0% | 1.2% | -24.6% | -7.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | 11.5% | — |
| Operating income | — | -15.7% | — |
| Net income | — | -16.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.0% | 21.6% | 24.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 15.7 | -9.7 | -11.4 | -19.8 | 14.3 | 62.2 |
| Price to sales | 0.5 | 0.6 | 0.7 | 1.3 | 2.3 | 8.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 27 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.156 | 0.157 | 0.387 | 0.146 | 0.07 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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