H 
0.21
+1.93%
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¥1.81bn
FY2016FY2025
Net income
−CN¥1.11bn
FY2016FY2025
Free cash flow
−CN¥528.4m
FY2016FY2025
Shareholders' equity
CN¥3.20bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.81bn | CN¥2.12bn | CN¥2.12bn | CN¥924.7m | CN¥2.87bn | CN¥1.36bn | CN¥3.27bn | CN¥2.09bn | CN¥1.96bn | CN¥1.92bn |
| Operating income | −CN¥580.7m | −CN¥484.0m | CN¥119.3m | −CN¥996.2m | CN¥1.96bn | −CN¥1.08bn | CN¥524.2m | CN¥229.2m | CN¥446.9m | CN¥546.1m |
| Net income | −CN¥1.11bn | −CN¥862.6m | −CN¥230.0m | −CN¥1.63bn | CN¥985.2m | −CN¥1.69bn | CN¥29.2m | CN¥46.1m | CN¥326.3m | CN¥234.4m |
| Diluted earnings per share | -0.11 | -0.11 | -0.03 | -0.20 | 0.12 | -0.42 | 0.01 | 0.01 | 0.04 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.59bn | CN¥12.06bn | CN¥13.44bn | CN¥11.91bn | CN¥13.66bn | CN¥19.15bn | CN¥19.67bn | CN¥18.78bn | CN¥14.15bn | CN¥10.73bn |
| Cash and short-term investments | CN¥1.35bn | CN¥159.2m | CN¥2.11bn | CN¥1.58bn | CN¥3.74bn | CN¥2.81bn | CN¥2.90bn | CN¥2.24bn | CN¥1.52bn | CN¥1.02bn |
| Total liabilities | CN¥8.89bn | CN¥9.94bn | CN¥10.50bn | CN¥8.79bn | CN¥9.20bn | CN¥15.65bn | CN¥14.45bn | CN¥13.57bn | CN¥8.99bn | CN¥5.81bn |
| Debt | CN¥6.74bn | CN¥6.19bn | CN¥6.30bn | CN¥5.27bn | CN¥5.25bn | CN¥9.25bn | CN¥8.57bn | CN¥7.98bn | CN¥4.73bn | CN¥2.90bn |
| Shareholders' equity | CN¥3.20bn | CN¥2.01bn | CN¥2.82bn | CN¥3.06bn | CN¥4.39bn | CN¥3.41bn | CN¥5.10bn | CN¥5.08bn | CN¥5.02bn | CN¥4.70bn |
| Shares outstanding | 10,248m | 8,124m | 8,104m | 8,114m | 8,000m | 4,000m | 4,000m | 4,000m | 8,000m | 8,000m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥251.9m | CN¥141.8m | CN¥622.2m | CN¥1.4m | CN¥257.8m | CN¥137.1m | CN¥1.41bn | CN¥194.5m | CN¥1.24bn | CN¥499.6m |
| Capital spending | −CN¥276.5m | −CN¥572.3m | −CN¥1.56bn | −CN¥836.8m | −CN¥185.5m | −CN¥227.1m | −CN¥586.1m | −CN¥2.49bn | −CN¥1.68bn | −CN¥609.2m |
| Free cash flow | −CN¥528.4m | −CN¥430.5m | −CN¥938.8m | −CN¥835.3m | CN¥72.2m | −CN¥90.0m | CN¥826.4m | −CN¥2.29bn | −CN¥440.0m | −CN¥109.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥616.3m | CN¥1.01bn | CN¥800.3m | CN¥1.19bn | CN¥932.6m | CN¥1.25bn | CN¥873.1m | CN¥624.1m |
| Operating income | −CN¥232.7m | −CN¥403.4m | −CN¥177.3m | −CN¥529.5m | CN¥213.8m | −CN¥160.8m | −CN¥17.1m | −CN¥600.5m |
| Net income | −CN¥382.4m | −CN¥770.5m | −CN¥344.2m | −CN¥764.4m | −CN¥98.2m | −CN¥126.3m | −CN¥103.8m | −CN¥998.9m |
| Diluted earnings per share | -0.03 | -0.08 | -0.03 | -0.09 | -0.01 | -0.02 | -0.01 | -0.12 |
| Cash from operations | — | −CN¥387.0m | −CN¥230.0m | −CN¥27.0m | CN¥169.0m | CN¥352.0m | CN¥269.0m | CN¥187.0m |
| Capital spending | — | −CN¥253.0m | −CN¥18.0m | −CN¥423.0m | −CN¥144.0m | −CN¥995.0m | −CN¥543.0m | −CN¥366.0m |
| Free cash flow | — | −CN¥640.0m | −CN¥248.0m | −CN¥450.0m | CN¥25.0m | −CN¥643.0m | −CN¥274.0m | −CN¥179.0m |
| Total assets | CN¥11.66bn | CN¥12.59bn | CN¥11.80bn | CN¥12.06bn | CN¥13.02bn | CN¥13.44bn | CN¥12.41bn | CN¥11.91bn |
| Cash and short-term investments | CN¥619.9m | CN¥1.35bn | CN¥198.5m | CN¥159.2m | CN¥1.60bn | CN¥2.10bn | CN¥2.08bn | CN¥1.58bn |
| Debt | CN¥1.62bn | CN¥6.97bn | CN¥7.09bn | CN¥7.22bn | CN¥7.10bn | CN¥7.35bn | CN¥6.67bn | CN¥6.14bn |
| Shareholders' equity | CN¥2.81bn | CN¥3.20bn | CN¥1.67bn | CN¥2.01bn | CN¥2.72bn | CN¥2.82bn | CN¥2.91bn | CN¥3.06bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -34.3% | -15.4% | 4.6% | -142.2% | -3.9% | -78.6% |
| Net margin | -61.7% | -40.7% | -10.9% | -176.0% | 34.3% | -124.3% |
| Return on equity | -34.8% | -42.9% | -8.2% | -53.2% | 22.4% | -49.6% |
| Return on assets | -8.9% | -7.2% | -1.7% | -13.7% | 7.2% | -8.8% |
| Free cash flow yield | 1.1% | 39.5% | 121.0% | 46.4% | 24.9% | 40.9% |
| Revenue growth | -14.8% | 0.1% | 129.1% | -67.8% | 110.6% | -58.3% |
| Earnings growth | 29.2% | 275.0% | -85.9% | -265.2% | -158.2% | -5888.0% |
| Current ratio | 0.42x | 0.14x | 0.93x | 1.08x | 1.07x | 0.69x |
| Debt to equity | 2.11x | 3.44x | 2.56x | 1.97x | 1.38x | 3.14x |
| Equity ratio | 25.4% | 16.7% | 21.0% | 25.7% | 32.1% | 17.8% |
| Interest coverage | -1.66x | -0.91x | 0.31x | -3.88x | -0.20x | -1.53x |
| Buybacks as a share of market value | -26.1% | -0.2% | 0.1% | -1.4% | -100.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.0% | 5.8% | 0.9% |
| Operating income | -16.5% | -11.7% | — |
| Net income | -11.9% | -8.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -27.1% | -27.9% | -9.5% | 5.9% |
| Net margin | -50.4% | -55.0% | -40.6% | -16.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.7 | -4.6 | -29.0 | -6.9 | 5.2 | -0.1 | 17.1 | 17.2 | 5.4 | 7.9 |
| Price to sales | 2.3 | 1.9 | 3.1 | 12.2 | 1.8 | 0.2 | 0.1 | 0.4 | 0.9 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 10 Nov 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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