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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¥180.47bn
FY2016FY2025
Net income
CN¥3.80bn
FY2016FY2025
Free cash flow
CN¥1.79bn
FY2016FY2025
Shareholders' equity
−CN¥1.00bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥180.47bn | CN¥252.76bn | CN¥401.01bn | CN¥501.44bn | CN¥609.43bn | CN¥539.28bn | CN¥566.14bn | CN¥441.67bn | CN¥264.37bn | CN¥178.37bn |
| Research and development | CN¥75.7m | CN¥301.0m | CN¥1.40bn | CN¥2.52bn | CN¥3.85bn | CN¥3.09bn | CN¥2.30bn | CN¥1.43bn | CN¥807.4m | CN¥807.4m |
| Operating income | CN¥21.46bn | −CN¥17.16bn | −CN¥162.05bn | CN¥7.51bn | CN¥70.37bn | CN¥81.80bn | CN¥107.96bn | CN¥89.74bn | CN¥50.80bn | CN¥25.78bn |
| Net income | CN¥3.80bn | −CN¥32.84bn | −CN¥178.40bn | −CN¥7.05bn | CN¥31.22bn | CN¥40.80bn | CN¥71.31bn | CN¥40.33bn | CN¥30.37bn | CN¥13.42bn |
| Diluted earnings per share | 0.14 | -1.20 | -6.52 | -0.30 | 1.36 | 1.88 | 3.31 | 1.83 | 1.36 | 0.63 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥946.22bn | CN¥1.21trn | CN¥1.51trn | CN¥2.03trn | CN¥2.27trn | CN¥2.35trn | CN¥2.22trn | CN¥1.90trn | CN¥1.22trn | CN¥689.25bn |
| Cash and short-term investments | CN¥14.20bn | CN¥17.55bn | CN¥21.93bn | CN¥162.76bn | CN¥187.77bn | CN¥202.44bn | CN¥299.34bn | CN¥280.05bn | CN¥188.65bn | CN¥107.15bn |
| Total liabilities | CN¥894.65bn | CN¥1.15trn | CN¥1.40trn | CN¥1.67trn | CN¥1.92trn | CN¥2.05trn | CN¥1.97trn | CN¥1.70trn | CN¥1.09trn | CN¥594.16bn |
| Debt | CN¥175.51bn | CN¥256.00bn | CN¥251.65bn | CN¥271.72bn | CN¥318.61bn | CN¥327.14bn | CN¥370.79bn | CN¥329.27bn | CN¥216.57bn | CN¥143.24bn |
| Shareholders' equity | −CN¥1.00bn | −CN¥8.37bn | CN¥30.23bn | CN¥237.25bn | CN¥231.55bn | CN¥204.02bn | CN¥177.03bn | CN¥141.36bn | CN¥109.14bn | CN¥81.71bn |
| Shares outstanding | 27,705m | 27,421m | 27,355m | 23,536m | 22,916m | 21,742m | 21,552m | 22,079m | 22,310m | 21,224m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.79bn | −CN¥3.28bn | −CN¥88.70bn | CN¥41.50bn | CN¥12.65bn | −CN¥25.20bn | CN¥17.09bn | CN¥34.23bn | CN¥28.06bn | CN¥48.08bn |
| Capital spending | −CN¥2 | −CN¥41.0m | −CN¥1.08bn | −CN¥2.27bn | −CN¥4.19bn | −CN¥4.74bn | −CN¥4.78bn | −CN¥4.26bn | −CN¥4.10bn | −CN¥2.88bn |
| Free cash flow | CN¥1.79bn | −CN¥3.32bn | −CN¥89.78bn | CN¥39.24bn | CN¥8.46bn | −CN¥29.94bn | CN¥12.31bn | CN¥29.97bn | CN¥23.96bn | CN¥45.20bn |
| Dividends paid | — | — | — | −CN¥1.02bn | −CN¥3.42bn | −CN¥12.30bn | −CN¥11.03bn | −CN¥14.58bn | −CN¥6.27bn | −CN¥3.50bn |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥50.65bn | CN¥95.92bn | CN¥84.55bn | CN¥150.65bn | CN¥102.10bn | CN¥174.71bn | CN¥263.68bn | CN¥307.67bn |
| Operating income | −CN¥14.91bn | −CN¥60.80bn | −CN¥15.4m | −CN¥8.67bn | −CN¥9.0m | −CN¥116.73bn | −CN¥52.68bn | CN¥975.8m |
| Net income | −CN¥17.94bn | CN¥26.03bn | −CN¥22.23bn | −CN¥19.99bn | −CN¥12.84bn | −CN¥127.27bn | −CN¥59.57bn | −CN¥7.65bn |
| Diluted earnings per share | -0.43 | 0.94 | -0.80 | -0.73 | -0.47 | -4.65 | -2.18 | -0.33 |
| Cash from operations | — | −CN¥9.98bn | −CN¥341.0m | −CN¥3.10bn | −CN¥185.0m | −CN¥79.52bn | CN¥3.94bn | CN¥35.38bn |
| Capital spending | — | — | — | −CN¥17.0m | −CN¥24.0m | −CN¥372.0m | −CN¥644.0m | −CN¥965.0m |
| Free cash flow | — | — | — | −CN¥3.11bn | −CN¥209.0m | −CN¥79.89bn | CN¥3.30bn | CN¥34.42bn |
| Total assets | CN¥868.49bn | CN¥946.22bn | CN¥1.06trn | CN¥1.04trn | CN¥1.21trn | CN¥1.29trn | CN¥1.89trn | CN¥2.03trn |
| Cash and short-term investments | CN¥28.55bn | CN¥14.20bn | CN¥15.18bn | CN¥15.06bn | CN¥17.19bn | CN¥18.82bn | CN¥131.39bn | CN¥162.76bn |
| Debt | CN¥118.50bn | CN¥175.51bn | CN¥299.44bn | CN¥256.00bn | CN¥251.67bn | CN¥251.65bn | CN¥301.19bn | CN¥316.58bn |
| Shareholders' equity | −CN¥14.19bn | −CN¥1.00bn | −CN¥30.38bn | −CN¥7.18bn | CN¥13.91bn | CN¥25.95bn | CN¥180.67bn | CN¥237.25bn |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 11.9% | -6.8% | -40.4% | 1.5% | 11.5% | 15.2% |
| Net margin | 2.1% | -13.0% | -44.5% | -1.4% | 5.1% | 7.6% |
| Return on equity | -379.6% | 457.0% | -687.6% | -3.0% | 13.5% | 20.0% |
| Return on assets | 0.4% | -3.2% | -13.8% | -0.3% | 1.4% | 1.7% |
| Free cash flow yield | 30.8% | -65.6% | -1527.4% | 886.7% | 350.3% | -448.8% |
| Revenue growth | -38.7% | -37.0% | -6.8% | -17.7% | 13.0% | -4.7% |
| Earnings growth | -109.9% | -81.6% | 2847.8% | -122.6% | -23.5% | -42.8% |
| Current ratio | 1.01x | 0.97x | 1.03x | 1.25x | 1.24x | 1.17x |
| Debt to equity | -172.45x | -35.31x | 9.63x | 1.33x | 1.60x | 1.86x |
| Equity ratio | -0.1% | -0.7% | 2.0% | 11.7% | 10.2% | 8.7% |
| Interest coverage | 3.32x | -3.29x | -31.15x | 1.20x | 153.26x | 147.81x |
| R&D as a share of sales | 0.0% | 0.1% | 0.4% | 0.5% | 0.6% | 0.6% |
| Buybacks as a share of market value | -1.0% | -0.2% | -16.2% | -2.7% | -5.4% | -0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -28.9% | -19.7% | 3.2% |
| Operating income | 41.9% | -23.5% | 1.3% |
| Net income | — | -37.8% | -9.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 1.0% | -11.2% | 0.1% | 7.3% |
| Net margin | -6.7% | -16.1% | -5.7% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 2.6 | -0.3 | -0.1 | -7.7 | 4.4 | 4.9 | 3.3 | 4.5 | 8.8 | 5.5 |
| Price to sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.4 | 0.4 | 0.4 | 1.0 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.001 | 0.066 | 0.006 | 0.006 | 0.005 | 0.003 | 0.002 | 0.002 |
- 1.049-for-1 split · 2 May 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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