C 
1.19
+3.48%
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¥21.62bn
FY2016FY2025
Net income
−CN¥868.0m
FY2016FY2025
Free cash flow
−CN¥2.16bn
FY2016FY2025
Shareholders' equity
CN¥10.05bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥21.62bn | CN¥19.00bn | CN¥13.46bn | CN¥15.01bn | CN¥15.39bn | CN¥22.02bn | CN¥12.89bn | CN¥8.34bn | CN¥8.10bn | CN¥7.70bn |
| Gross profit | CN¥1.36bn | CN¥2.32bn | CN¥1.43bn | CN¥2.62bn | CN¥2.00bn | CN¥8.20bn | CN¥2.09bn | CN¥12.9m | CN¥68.3m | CN¥56.0m |
| Operating income | −CN¥105.7m | CN¥1.02bn | CN¥704.9m | CN¥747.5m | CN¥142.0m | CN¥7.12bn | CN¥1.38bn | −CN¥627.7m | CN¥615.4m | CN¥1.23bn |
| Net income | −CN¥868.0m | CN¥626.4m | −CN¥157.9m | CN¥415.1m | −CN¥535.0m | CN¥4.65bn | CN¥1.83bn | −CN¥730.5m | CN¥517.7m | CN¥1.11bn |
| Diluted earnings per share | -0.19 | 0.14 | -0.03 | 0.11 | -0.14 | 1.19 | 0.47 | -0.19 | 0.13 | 0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥25.28bn | CN¥23.69bn | CN¥18.89bn | CN¥21.41bn | CN¥20.98bn | CN¥23.93bn | CN¥18.76bn | CN¥11.94bn | CN¥10.37bn | CN¥9.67bn |
| Cash and short-term investments | CN¥709.7m | CN¥1.24bn | CN¥1.37bn | CN¥1.23bn | CN¥1.23bn | CN¥484.9m | CN¥733.7m | CN¥1.33bn | CN¥1.38bn | CN¥1.85bn |
| Total liabilities | CN¥14.98bn | CN¥12.53bn | CN¥8.13bn | CN¥11.79bn | CN¥10.96bn | CN¥12.78bn | CN¥11.60bn | CN¥6.38bn | CN¥4.61bn | CN¥4.50bn |
| Debt | CN¥11.71bn | CN¥6.52bn | CN¥5.47bn | CN¥7.48bn | CN¥6.60bn | CN¥8.73bn | CN¥8.00bn | CN¥4.07bn | CN¥2.74bn | CN¥2.67bn |
| Shareholders' equity | CN¥10.05bn | CN¥10.92bn | CN¥10.63bn | CN¥9.44bn | CN¥9.85bn | CN¥10.95bn | CN¥7.05bn | CN¥5.44bn | CN¥5.70bn | CN¥5.16bn |
| Shares outstanding | 4,582m | 4,582m | 4,585m | 3,902m | 3,902m | 3,902m | 3,902m | 3,902m | 3,902m | 3,902m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥191.6m | CN¥758.7m | CN¥2.36bn | −CN¥7.1m | CN¥3.59bn | CN¥3.45bn | −CN¥1.22bn | CN¥48.8m | CN¥682.3m | CN¥1.57bn |
| Capital spending | −CN¥2.36bn | −CN¥2.90bn | −CN¥1.14bn | −CN¥1.14bn | −CN¥1.74bn | −CN¥2.02bn | −CN¥1.13bn | −CN¥1.65bn | −CN¥1.16bn | −CN¥1.24bn |
| Free cash flow | −CN¥2.16bn | −CN¥2.15bn | CN¥1.21bn | −CN¥1.15bn | CN¥1.84bn | CN¥1.42bn | −CN¥2.35bn | −CN¥1.61bn | −CN¥475.0m | CN¥335.4m |
| Dividends paid | — | −CN¥80.3m | — | −CN¥667.5m | −CN¥778.4m | −CN¥667.3m | −CN¥667.3m | −CN¥667.3m | −CN¥667.3m | −CN¥4.56bn |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥10.03bn | CN¥11.19bn | CN¥10.43bn | CN¥13.68bn | CN¥5.32bn | CN¥6.69bn | CN¥6.77bn | CN¥8.79bn |
| Gross profit | −CN¥494.1m | CN¥148.9m | CN¥1.21bn | CN¥2.57bn | −CN¥252.5m | −CN¥386.5m | −CN¥24.5m | CN¥3.41bn |
| Operating income | −CN¥1.27bn | −CN¥652.3m | CN¥546.6m | CN¥1.71bn | −CN¥695.1m | −CN¥912.0m | −CN¥500.6m | CN¥3.06bn |
| Net income | −CN¥1.78bn | −CN¥1.24bn | CN¥368.6m | CN¥333.7m | CN¥292.6m | CN¥388.7m | −CN¥546.6m | CN¥952.8m |
| Diluted earnings per share | -0.39 | -0.27 | 0.08 | 0.07 | 0.06 | 0.08 | -0.12 | 0.24 |
| Cash from operations | −CN¥1.42bn | CN¥89.0m | CN¥115.0m | CN¥1.51bn | −CN¥756.0m | CN¥1.04bn | CN¥1.14bn | CN¥1.32bn |
| Capital spending | −CN¥760.0m | −CN¥1.32bn | −CN¥1.18bn | −CN¥2.30bn | −CN¥579.0m | −CN¥641.0m | −CN¥486.0m | −CN¥661.0m |
| Free cash flow | −CN¥2.18bn | −CN¥1.23bn | −CN¥1.06bn | −CN¥782.0m | −CN¥1.33bn | CN¥401.0m | CN¥650.0m | CN¥664.0m |
| Total assets | CN¥26.68bn | CN¥25.28bn | CN¥24.63bn | CN¥23.69bn | CN¥19.83bn | CN¥18.89bn | CN¥19.06bn | CN¥21.41bn |
| Cash and short-term investments | CN¥1.10bn | CN¥709.7m | CN¥739.8m | CN¥1.24bn | CN¥743.2m | CN¥1.37bn | CN¥610.1m | CN¥1.23bn |
| Debt | CN¥9.07bn | CN¥11.71bn | CN¥9.96bn | CN¥7.59bn | CN¥6.58bn | CN¥5.84bn | CN¥5.85bn | CN¥8.70bn |
| Shareholders' equity | CN¥8.22bn | CN¥10.05bn | CN¥11.29bn | CN¥10.92bn | CN¥10.91bn | CN¥10.63bn | CN¥10.29bn | CN¥9.44bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 6.3% | 12.2% | 10.6% | 17.4% | 13.0% | 37.3% | — | — | — |
| Operating margin | -0.5% | 5.3% | -0.4% | 12.3% | 0.9% | 32.3% | — | — | — |
| Net margin | -4.0% | 3.3% | -1.2% | 2.8% | -3.5% | 21.1% | — | — | — |
| Return on equity | -8.6% | 5.7% | -1.5% | 4.4% | -5.4% | 42.5% | — | — | — |
| Return on assets | -3.4% | 2.6% | -0.8% | 1.9% | -2.5% | 19.4% | — | — | — |
| Free cash flow yield | 43.8% | 63.0% | 60.2% | 22.9% | 107.7% | 110.5% | — | — | — |
| Revenue growth | 13.8% | 41.1% | -10.3% | -2.5% | -30.1% | 70.8% | — | — | — |
| Earnings growth | -238.6% | -496.7% | -138.0% | -177.6% | -111.5% | 153.9% | — | — | — |
| Current ratio | 0.60x | 0.75x | 0.82x | 0.80x | 0.89x | 1.05x | — | — | — |
| Debt to equity | 1.13x | 0.66x | 0.51x | 0.88x | 0.74x | 0.89x | — | — | — |
| Equity ratio | 39.8% | 46.1% | 56.3% | 44.1% | 46.9% | 45.8% | — | — | — |
| Interest coverage | -0.62x | 7.05x | -0.34x | 8.97x | 0.99x | 39.14x | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.1% | 0.0% |
| Buybacks as a share of market value | 0.0% | 0.1% | -17.5% | 0.0% | 0.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.9% | -0.4% | 13.9% |
| Operating income | — | — | -9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.0% | 11.2% | 16.8% | 13.6% |
| Operating margin | 2.2% | 3.4% | 9.0% | 8.0% |
| Net margin | -0.6% | 0.0% | 3.9% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.2 | 8.8 | -47.3 | 18.2 | -18.8 | 2.0 | 4.1 | -6.7 | 10.3 | 4.6 |
| Price to sales | 0.3 | 0.3 | 0.6 | 0.5 | 0.7 | 0.4 | 0.6 | 0.6 | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 2022.
| FY2022 | FY2021 | FY2020 | |
|---|---|---|---|
| Paid in the year | 0.18 | 0.206 | 0.166 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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