C 
2.76
-3.50%
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¥207.16bn
FY2016FY2025
Net income
−CN¥3.90bn
FY2016FY2025
Free cash flow
CN¥9.51bn
FY2016FY2025
Shareholders' equity
CN¥128.91bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥207.16bn | CN¥181.30bn | CN¥244.86bn | CN¥272.43bn | CN¥318.79bn | CN¥296.75bn | CN¥284.44bn | CN¥255.04bn | CN¥148.66bn | CN¥118.28bn |
| Gross profit | CN¥38.73bn | CN¥32.71bn | CN¥43.62bn | CN¥46.41bn | CN¥76.56bn | CN¥77.82bn | CN¥85.25bn | CN¥75.81bn | CN¥41.05bn | CN¥31.21bn |
| Research and development | — | — | — | — | — | — | CN¥2.45bn | CN¥2.45bn | CN¥2.45bn | CN¥2.45bn |
| Operating income | CN¥5.15bn | CN¥14.73bn | CN¥14.71bn | CN¥17.78bn | CN¥42.47bn | CN¥45.26bn | CN¥50.96bn | CN¥34.37bn | CN¥28.29bn | CN¥10.43bn |
| Net income | −CN¥3.90bn | CN¥2.90bn | CN¥5.14bn | CN¥10.27bn | CN¥19.91bn | CN¥15.79bn | CN¥16.20bn | CN¥10.54bn | CN¥4.52bn | CN¥1.85bn |
| Diluted earnings per share | -0.51 | 0.34 | 0.61 | 1.22 | 2.36 | 1.87 | 1.92 | 1.25 | 0.22 | 0.34 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥570.23bn | CN¥575.43bn | CN¥569.47bn | CN¥561.98bn | CN¥538.77bn | CN¥531.60bn | CN¥542.06bn | CN¥508.61bn | CN¥404.42bn | CN¥396.91bn |
| Cash and short-term investments | CN¥35.35bn | CN¥38.39bn | CN¥43.52bn | CN¥40.84bn | CN¥41.37bn | CN¥41.79bn | — | CN¥32.76bn | CN¥30.65bn | CN¥33.38bn |
| Total liabilities | CN¥353.09bn | CN¥348.84bn | CN¥344.07bn | CN¥337.95bn | CN¥330.71bn | CN¥339.19bn | CN¥363.16bn | CN¥349.70bn | CN¥304.96bn | CN¥308.89bn |
| Debt | CN¥227.58bn | CN¥194.48bn | CN¥187.03bn | CN¥176.45bn | CN¥170.13bn | CN¥178.40bn | CN¥106.45bn | CN¥208.39bn | CN¥227.42bn | CN¥237.63bn |
| Shareholders' equity | CN¥128.91bn | CN¥139.13bn | CN¥143.46bn | CN¥143.45bn | CN¥138.24bn | CN¥126.82bn | CN¥120.04bn | CN¥109.54bn | CN¥94.34bn | CN¥82.45bn |
| Shares outstanding | 7,593m | 8,435m | 8,435m | 8,435m | 8,435m | 8,435m | 8,435m | 8,435m | 20,124m | 5,399m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥26.23bn | CN¥23.20bn | CN¥33.81bn | CN¥30.69bn | CN¥58.34bn | CN¥74.82bn | CN¥47.15bn | CN¥56.53bn | CN¥25.94bn | CN¥17.93bn |
| Capital spending | −CN¥16.72bn | −CN¥21.80bn | −CN¥25.68bn | −CN¥36.19bn | −CN¥43.02bn | −CN¥32.44bn | −CN¥20.87bn | −CN¥21.07bn | −CN¥10.80bn | −CN¥13.38bn |
| Free cash flow | CN¥9.51bn | CN¥1.40bn | CN¥8.13bn | −CN¥5.50bn | CN¥15.32bn | CN¥42.38bn | CN¥26.27bn | CN¥35.46bn | CN¥15.14bn | CN¥4.54bn |
| Dividends paid | −CN¥1.40bn | −CN¥1.93bn | −CN¥3.71bn | −CN¥7.60bn | −CN¥5.59bn | −CN¥4.60bn | −CN¥18.65bn | −CN¥982.5m | −CN¥270.4m | −CN¥232.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥93.60bn | CN¥98.50bn | CN¥108.66bn | CN¥97.83bn | CN¥83.47bn | CN¥43.12bn | CN¥57.21bn | CN¥66.64bn |
| Gross profit | CN¥15.18bn | CN¥17.64bn | CN¥21.09bn | CN¥19.46bn | CN¥13.25bn | CN¥7.01bn | CN¥12.70bn | CN¥14.80bn |
| Operating income | CN¥2.00bn | CN¥6.25bn | −CN¥1.11bn | CN¥8.14bn | CN¥1.37bn | CN¥776.0m | CN¥5.12bn | CN¥5.97bn |
| Net income | −CN¥759.5m | −CN¥8.77bn | CN¥4.88bn | CN¥4.65bn | −CN¥1.75bn | −CN¥1.57bn | CN¥949.1m | CN¥1.11bn |
| Diluted earnings per share | -0.10 | -1.16 | 0.64 | 0.55 | -0.21 | -0.19 | 0.11 | 0.13 |
| Cash from operations | −CN¥5.30bn | CN¥8.91bn | CN¥17.32bn | CN¥15.62bn | CN¥8.98bn | −CN¥6.98bn | CN¥7.13bn | CN¥7.13bn |
| Capital spending | −CN¥3.23bn | −CN¥12.30bn | −CN¥4.42bn | −CN¥5.54bn | −CN¥4.92bn | −CN¥5.62bn | −CN¥7.54bn | −CN¥7.54bn |
| Free cash flow | −CN¥8.53bn | −CN¥3.39bn | CN¥12.89bn | CN¥10.08bn | CN¥4.06bn | −CN¥12.59bn | −CN¥409.0m | −CN¥409.0m |
| Total assets | CN¥583.96bn | CN¥570.23bn | CN¥589.09bn | CN¥494.01bn | CN¥499.67bn | CN¥586.18bn | CN¥569.47bn | CN¥591.79bn |
| Cash and short-term investments | CN¥41.99bn | CN¥35.35bn | CN¥35.74bn | CN¥32.96bn | CN¥31.32bn | CN¥38.21bn | CN¥43.52bn | CN¥52.70bn |
| Debt | CN¥130.83bn | CN¥227.58bn | CN¥242.35bn | CN¥194.48bn | CN¥201.36bn | CN¥45.70bn | CN¥217.86bn | CN¥46.81bn |
| Shareholders' equity | CN¥107.86bn | CN¥128.91bn | CN¥135.55bn | CN¥119.44bn | CN¥116.75bn | CN¥141.97bn | CN¥143.46bn | CN¥145.85bn |
Financial ratios
Data as of 19 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 18.7% | 18.0% | 17.8% | 17.0% | 23.8% | 26.2% | — | — | — | — |
| Operating margin | 4.2% | 4.3% | 6.0% | 6.5% | 13.2% | 15.2% | — | — | — | — |
| Net margin | -1.9% | 1.6% | 2.1% | 3.8% | 6.2% | 5.3% | — | — | — | — |
| Return on equity | -3.0% | 2.4% | 3.6% | 7.2% | 14.4% | 12.4% | — | — | — | — |
| Return on assets | -0.7% | 0.6% | 0.9% | 1.8% | 3.7% | 3.0% | — | — | — | — |
| Free cash flow yield | 149.9% | 164.6% | 186.9% | 210.1% | 318.4% | 336.9% | — | — | — | — |
| Revenue growth | -1.9% | -13.8% | -10.1% | -15.1% | 8.2% | 0.6% | — | — | — | — |
| Earnings growth | -215.3% | -34.3% | -49.9% | -48.4% | 26.1% | 11.6% | — | — | — | — |
| Current ratio | 0.75x | 0.79x | 0.84x | 0.83x | 0.82x | 0.79x | — | — | — | — |
| Debt to equity | 1.75x | 1.61x | 1.50x | 1.42x | 1.41x | 1.61x | — | — | — | — |
| Equity ratio | 22.6% | 24.2% | 25.2% | 25.5% | 25.7% | 23.9% | — | — | — | — |
| Interest coverage | 1.53x | 1.50x | 2.12x | 2.25x | 4.49x | 4.86x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.9% | 1.0% | 1.1% | 2.1% |
| Buybacks as a share of market value | 10.0% | -0.0% | 0.0% | -0.0% | 0.0% | 0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.7% | -6.9% | 5.9% |
| Operating income | -33.8% | -35.3% | -11.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.4% | 17.8% | 20.8% | 23.6% |
| Operating margin | 5.1% | 5.8% | 9.2% | 11.5% |
| Net margin | -0.3% | 1.6% | 3.3% | 3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.8 | 9.1 | 4.8 | 4.6 | 3.6 | 4.4 | 4.0 | 3.8 | 27.4 | 9.7 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.8 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 20 years. Last went ex-dividend on 4 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.171 | 0.17 | 0.282 | 0.43 | 0.814 | 0.566 | 0.382 | 0.205 |
- 2-for-1 split · 29 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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