C 
0.43
+1.18%
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¥23.35bn
FY2016FY2025
Net income
−CN¥740.4m
FY2016FY2025
Free cash flow
−CN¥361.0m
FY2016FY2025
Shareholders' equity
CN¥5.61bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥23.35bn | CN¥15.62bn | CN¥16.58bn | CN¥16.32bn | CN¥20.97bn | CN¥17.20bn | CN¥14.72bn | CN¥12.41bn | CN¥12.64bn | CN¥12.47bn |
| Gross profit | CN¥1.37bn | CN¥699.7m | CN¥964.0m | CN¥1.08bn | CN¥2.04bn | CN¥1.51bn | CN¥1.27bn | CN¥882.1m | CN¥1.19bn | CN¥898.0m |
| Operating income | −CN¥553.6m | −CN¥190.1m | −CN¥37.6m | −CN¥1.39bn | CN¥1.23bn | CN¥874.6m | CN¥743.6m | CN¥502.1m | CN¥548.7m | CN¥66.0m |
| Net income | −CN¥740.4m | −CN¥291.1m | −CN¥252.2m | −CN¥1.63bn | CN¥784.9m | CN¥478.9m | CN¥598.5m | CN¥797.2m | CN¥1.18bn | −CN¥432.2m |
| Diluted earnings per share | -0.49 | -0.20 | -0.17 | -1.08 | 0.51 | 0.32 | 0.40 | 0.52 | 0.76 | -0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥15.05bn | CN¥12.25bn | CN¥12.63bn | CN¥12.60bn | CN¥15.45bn | CN¥14.40bn | CN¥13.32bn | CN¥12.85bn | CN¥11.75bn | CN¥11.19bn |
| Cash and short-term investments | CN¥2.28bn | CN¥1.12bn | CN¥1.24bn | CN¥1.38bn | CN¥2.03bn | CN¥2.12bn | CN¥1.74bn | CN¥1.58bn | CN¥2.03bn | CN¥3.54bn |
| Total liabilities | CN¥9.16bn | CN¥6.99bn | CN¥6.03bn | CN¥5.57bn | CN¥6.07bn | CN¥5.60bn | CN¥4.78bn | CN¥4.78bn | CN¥4.37bn | CN¥4.82bn |
| Debt | CN¥6.91bn | CN¥4.74bn | CN¥3.11bn | CN¥2.99bn | CN¥3.53bn | CN¥3.34bn | CN¥3.03bn | CN¥2.14bn | CN¥1.82bn | CN¥1.86bn |
| Shareholders' equity | CN¥5.61bn | CN¥5.17bn | CN¥6.50bn | CN¥6.93bn | CN¥9.29bn | CN¥8.73bn | CN¥8.48bn | CN¥8.02bn | CN¥7.33bn | CN¥6.34bn |
| Shares outstanding | 1,523m | 1,484m | 1,487m | 1,500m | 1,538m | 1,512m | 1,505m | 1,528m | 1,547m | 1,570m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥307.4m | −CN¥166.8m | CN¥357.4m | CN¥910.8m | CN¥905.0m | CN¥932.3m | CN¥275.0m | CN¥307.9m | CN¥125.2m | CN¥101.1m |
| Capital spending | −CN¥668.4m | −CN¥612.5m | −CN¥352.3m | −CN¥447.2m | −CN¥861.0m | −CN¥223.8m | −CN¥496.7m | −CN¥780.0m | −CN¥366.1m | −CN¥561.5m |
| Free cash flow | −CN¥361.0m | −CN¥779.4m | CN¥5.0m | CN¥463.6m | CN¥44.0m | CN¥708.5m | −CN¥221.7m | −CN¥472.1m | −CN¥240.9m | −CN¥460.5m |
| Dividends paid | — | −CN¥49.7m | −CN¥88.7m | −CN¥327.7m | −CN¥118.4m | −CN¥121.2m | −CN¥182.0m | −CN¥187.7m | −CN¥187.7m | −CN¥184.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.18bn | CN¥12.12bn | CN¥11.24bn | CN¥8.15bn | CN¥7.47bn | CN¥8.47bn | CN¥9.46bn | CN¥9.77bn |
| Gross profit | CN¥1.21bn | CN¥720.7m | CN¥652.7m | CN¥333.5m | CN¥366.3m | CN¥382.7m | CN¥677.9m | CN¥452.3m |
| Operating income | CN¥296,506 | −CN¥649.0m | CN¥107.1m | −CN¥153.7m | CN¥14.1m | −CN¥338.4m | CN¥350.7m | −CN¥559.4m |
| Net income | −CN¥11.8m | −CN¥726.7m | −CN¥13.8m | −CN¥214.8m | −CN¥76.3m | −CN¥453.4m | CN¥234.6m | −CN¥831.3m |
| Diluted earnings per share | -0.01 | -0.48 | -0.01 | -0.14 | -0.05 | -0.30 | 0.16 | -0.55 |
| Cash from operations | — | −CN¥110.0m | CN¥332.0m | −CN¥292.0m | CN¥145.0m | −CN¥106.0m | CN¥523.0m | CN¥190.0m |
| Capital spending | — | −CN¥246.0m | −CN¥456.0m | −CN¥432.0m | −CN¥207.0m | −CN¥265.0m | −CN¥145.0m | −CN¥131.0m |
| Free cash flow | — | −CN¥356.0m | −CN¥124.0m | −CN¥724.0m | −CN¥62.0m | −CN¥371.0m | CN¥378.0m | CN¥59.0m |
| Total assets | CN¥16.26bn | CN¥15.05bn | CN¥13.84bn | CN¥12.25bn | CN¥10.60bn | CN¥10.84bn | CN¥12.37bn | CN¥10.80bn |
| Cash and short-term investments | CN¥2.51bn | CN¥2.28bn | CN¥1.28bn | CN¥1.12bn | CN¥1.22bn | CN¥1.07bn | CN¥1.50bn | CN¥1.19bn |
| Debt | CN¥6.59bn | CN¥6.91bn | CN¥5.60bn | CN¥4.74bn | CN¥3.37bn | CN¥3.11bn | CN¥3.21bn | CN¥2.99bn |
| Shareholders' equity | CN¥5.62bn | CN¥5.61bn | CN¥6.03bn | CN¥5.17bn | CN¥5.48bn | CN¥5.57bn | CN¥7.13bn | CN¥5.95bn |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.9% | 4.5% | 5.8% | 6.6% | 9.7% | 8.8% |
| Operating margin | -1.0% | -0.1% | -0.3% | -8.5% | 5.9% | 5.1% |
| Net margin | -3.2% | -1.9% | -1.5% | -10.0% | 3.7% | 2.8% |
| Return on equity | -13.2% | -5.6% | -4.5% | -27.4% | 8.4% | 5.5% |
| Return on assets | -4.9% | -2.4% | -2.3% | -15.1% | 5.1% | 3.3% |
| Free cash flow yield | 127.8% | 69.8% | 111.0% | 180.5% | 229.0% | 152.5% |
| Revenue growth | 28.2% | -5.8% | 1.6% | -9.2% | 21.9% | 16.8% |
| Earnings growth | 118.2% | 15.4% | -84.5% | -341.8% | 63.9% | -20.0% |
| Current ratio | 1.18x | 1.21x | 1.47x | 1.52x | 1.63x | 1.48x |
| Debt to equity | 0.95x | 0.70x | 0.41x | 0.37x | 0.34x | 0.36x |
| Equity ratio | 37.3% | 42.2% | 51.4% | 55.1% | 60.1% | 60.6% |
| Interest coverage | -0.80x | -0.12x | -0.35x | -11.43x | 8.08x | 5.61x |
| Buybacks as a share of market value | -2.6% | 0.2% | 0.9% | 2.4% | -1.7% | -0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.7% | 6.3% | 6.5% |
| Operating income | -26.4% | — | — |
| Net income | -23.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.3% | 5.7% | 7.0% | 7.6% |
| Operating margin | -1.9% | -3.0% | -0.1% | 1.5% |
| Net margin | -2.6% | -4.1% | -1.5% | 0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.8 | -2.5 | -3.0 | -1.0 | 8.4 | 9.8 | 8.5 | 4.9 | 6.5 | -8.7 |
| Price to sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 | 0.3 | 0.3 | 0.3 | 0.6 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.037 | 0.066 | 0.002 | 0.079 | 0.075 | 0.12 | 0.13 | 0.12 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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