M 
2.26
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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¥4.82bn
FY2016FY2025
Net income
CN¥650.0m
FY2016FY2025
Free cash flow
CN¥1.10bn
FY2016FY2025
Shareholders' equity
CN¥5.70bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.82bn | CN¥3.73bn | CN¥73.56bn | CN¥85.57bn | CN¥85.66bn | CN¥52.48bn | CN¥41.14bn | CN¥30.12bn | CN¥17.72bn | CN¥11.99bn |
| Gross profit | CN¥1.59bn | CN¥1.33bn | CN¥8.48bn | CN¥13.14bn | CN¥15.68bn | CN¥11.66bn | CN¥13.01bn | CN¥9.85bn | CN¥4.90bn | CN¥2.73bn |
| Operating income | CN¥964.4m | CN¥820.8m | CN¥4.31bn | CN¥7.94bn | CN¥9.32bn | CN¥6.53bn | CN¥7.90bn | CN¥6.70bn | CN¥3.64bn | CN¥1.95bn |
| Net income | CN¥650.0m | −CN¥2.06bn | CN¥913.6m | CN¥2.01bn | CN¥4.35bn | CN¥4.33bn | CN¥4.31bn | CN¥3.21bn | CN¥1.91bn | CN¥1.01bn |
| Diluted earnings per share | 0.46 | -1.44 | 0.65 | 1.49 | 3.52 | 3.52 | 3.50 | 2.96 | 1.62 | 0.85 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.20bn | CN¥11.30bn | CN¥234.27bn | CN¥292.80bn | CN¥335.32bn | CN¥283.75bn | CN¥249.71bn | CN¥177.32bn | CN¥112.98bn | CN¥57.89bn |
| Cash and short-term investments | CN¥2.17bn | CN¥1.20bn | CN¥20.52bn | CN¥32.46bn | CN¥42.81bn | CN¥19.74bn | CN¥21.15bn | CN¥19.76bn | CN¥20.44bn | CN¥9.68bn |
| Total liabilities | CN¥5.34bn | CN¥5.40bn | CN¥176.03bn | CN¥234.33bn | CN¥279.75bn | CN¥243.54bn | CN¥218.58bn | CN¥153.73bn | CN¥100.81bn | CN¥54.79bn |
| Debt | CN¥912.3m | CN¥833.7m | CN¥38.17bn | CN¥48.61bn | CN¥56.55bn | CN¥58.88bn | CN¥54.90bn | CN¥49.51bn | CN¥38.25bn | CN¥24.36bn |
| Shareholders' equity | CN¥5.70bn | CN¥5.69bn | CN¥29.41bn | CN¥28.90bn | CN¥27.33bn | CN¥22.07bn | CN¥19.65bn | CN¥16.16bn | CN¥10.18bn | CN¥2.27bn |
| Shares outstanding | 1,407m | 1,429m | 1,414m | 1,345m | 1,235m | 1,231m | 1,231m | 1,084m | 1,180m | 1,180m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.13bn | −CN¥2.26bn | CN¥4.22bn | CN¥3.54bn | CN¥3.73bn | −CN¥2.03bn | CN¥595.6m | −CN¥16.62bn | −CN¥7.36bn | −CN¥5.55bn |
| Capital spending | −CN¥33.2m | −CN¥107.9m | −CN¥232.6m | −CN¥240.6m | −CN¥184.8m | −CN¥47.6m | −CN¥290.5m | −CN¥141.7m | −CN¥83.3m | −CN¥216.5m |
| Free cash flow | CN¥1.10bn | −CN¥2.37bn | CN¥3.99bn | CN¥3.30bn | CN¥3.54bn | −CN¥2.08bn | CN¥305.1m | −CN¥16.76bn | −CN¥7.44bn | −CN¥5.77bn |
| Dividends paid | −CN¥637.7m | −CN¥470.5m | −CN¥554.7m | −CN¥468.4m | −CN¥1.90bn | −CN¥1.81bn | −CN¥1.28bn | −CN¥1.28bn | −CN¥1.28bn | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.16bn | CN¥2.50bn | CN¥2.32bn | −CN¥24.88bn | CN¥25.13bn | CN¥14.61bn | CN¥43.27bn | CN¥21.63bn |
| Gross profit | CN¥681.2m | CN¥872.4m | CN¥714.4m | −CN¥1.15bn | CN¥2.32bn | CN¥1.35bn | CN¥4.29bn | CN¥2.15bn |
| Operating income | CN¥456.3m | CN¥504.4m | CN¥460.0m | CN¥545.6m | CN¥351.3m | CN¥204.2m | CN¥2.24bn | CN¥1.26bn |
| Net income | CN¥291.8m | CN¥295.0m | CN¥355.0m | −CN¥2.83bn | CN¥375.9m | CN¥218.4m | CN¥152.8m | CN¥76.4m |
| Diluted earnings per share | 0.20 | 0.21 | 0.25 | -1.98 | 0.26 | 0.15 | 0.11 | 0.05 |
| Cash from operations | — | CN¥605.0m | CN¥568.0m | CN¥1.59bn | −CN¥3.85bn | −CN¥2.24bn | CN¥2.55bn | CN¥1.27bn |
| Capital spending | — | −CN¥11.0m | −CN¥23.0m | −CN¥41.0m | −CN¥66.0m | −CN¥38.0m | −CN¥149.0m | −CN¥74.0m |
| Free cash flow | — | CN¥594.0m | CN¥545.0m | CN¥1.55bn | −CN¥3.92bn | −CN¥2.28bn | CN¥2.40bn | CN¥1.20bn |
| Total assets | CN¥10.36bn | CN¥11.20bn | CN¥11.03bn | CN¥9.72bn | CN¥179.00bn | CN¥208.03bn | CN¥201.58bn | CN¥234.27bn |
| Cash and short-term investments | CN¥1.83bn | CN¥2.17bn | CN¥974.6m | CN¥1.03bn | CN¥11.56bn | CN¥18.07bn | CN¥17.65bn | CN¥25.60bn |
| Debt | CN¥86.9m | CN¥912.3m | CN¥276.0m | CN¥833.7m | CN¥37.20bn | CN¥10.62bn | CN¥38.17bn | CN¥14.28bn |
| Shareholders' equity | CN¥5.72bn | CN¥5.70bn | CN¥5.63bn | CN¥4.90bn | CN¥25.20bn | CN¥29.29bn | CN¥25.31bn | CN¥29.41bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.9% | 35.7% | 11.5% | 15.4% | 18.3% | 22.2% |
| Operating margin | 20.7% | 22.2% | 6.1% | 9.4% | 11.8% | 14.4% |
| Net margin | 13.5% | -55.2% | 1.2% | 2.3% | 5.1% | 8.2% |
| Return on equity | 11.4% | -42.0% | 3.6% | 6.9% | 15.9% | 19.6% |
| Return on assets | 5.8% | -21.2% | 0.5% | 0.7% | 1.3% | 1.5% |
| Free cash flow yield | 30.4% | -64.2% | 115.6% | 103.1% | 116.2% | -68.8% |
| Revenue growth | 11.4% | -94.9% | -0.1% | -0.1% | 40.4% | 27.6% |
| Earnings growth | -127.2% | -325.3% | -47.1% | -53.9% | -13.5% | 0.5% |
| Current ratio | 5.36x | 1.11x | 1.30x | 1.29x | 1.26x | 1.30x |
| Debt to equity | 0.12x | 0.13x | 1.51x | 1.95x | 2.40x | 2.66x |
| Equity ratio | 51.0% | 50.4% | 12.6% | 9.9% | 8.1% | 7.8% |
| Interest coverage | 103.86x | 6.55x | 140.30x | 27.31x | 113.24x | 50.10x |
| Buybacks as a share of market value | 1.6% | -1.0% | -5.2% | -8.8% | -0.4% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -61.7% | -38.0% | -6.7% |
| Operating income | -50.5% | -31.8% | -2.7% |
| Net income | -31.3% | -31.6% | 3.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.1% | 14.6% | 17.0% | 20.3% |
| Operating margin | 20.9% | 8.4% | 9.8% | 12.3% |
| Net margin | -16.5% | 0.9% | 3.3% | 5.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.8 | -1.8 | 3.0 | 2.9 | 1.2 | 1.8 | 2.5 | 1.9 |
| Price to sales | 1.1 | 1.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.3 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 1 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.42 | 0.36 | 0.80 | 0.016 | 0.016 | 0.016 | 0.012 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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