C 
8.71
-1.58%
Close of 9 Nov 2026, in CNY
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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.
Net income
−CN¥3.39bn
FY2016FY2025
Free cash flow
−CN¥5.34bn
FY2016FY2025
Shareholders' equity
CN¥7.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | −CN¥1.30bn | CN¥358.2m | CN¥1.60bn | CN¥2.74bn | CN¥345.9m | CN¥256.8m | CN¥268.1m | CN¥316.2m | CN¥430.3m | CN¥293.8m |
| Research and development | CN¥412.6m | CN¥348.3m | CN¥481.9m | CN¥505.2m | CN¥71.7m | CN¥60.9m | CN¥109.7m | CN¥98.4m | CN¥76.6m | CN¥51.8m |
| Operating income | −CN¥3.47bn | CN¥392.9m | CN¥190.4m | CN¥474.5m | CN¥95.1m | CN¥170.3m | CN¥123.6m | CN¥4.2m | CN¥137.7m | −CN¥45.0m |
| Net income | −CN¥3.39bn | CN¥146.4m | CN¥161.8m | CN¥305.1m | CN¥80.0m | CN¥143.5m | CN¥137.8m | CN¥65.4m | CN¥30.4m | −CN¥42.9m |
| Diluted earnings per share | -2.25 | 0.10 | 0.11 | 0.41 | 0.10 | 0.20 | 0.18 | 0.09 | 0.04 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥45.16bn | CN¥48.10bn | CN¥48.08bn | CN¥7.53bn | CN¥7.85bn | CN¥9.05bn | CN¥9.20bn | CN¥10.53bn | CN¥10.95bn | CN¥11.18bn |
| Cash and short-term investments | — | CN¥11.62bn | CN¥7.23bn | CN¥1.28bn | CN¥2.20bn | CN¥2.36bn | CN¥2.35bn | CN¥1.29bn | CN¥1.47bn | CN¥2.44bn |
| Total liabilities | CN¥36.05bn | CN¥36.26bn | CN¥36.72bn | CN¥3.18bn | CN¥3.57bn | CN¥4.80bn | CN¥5.20bn | CN¥6.31bn | CN¥6.88bn | CN¥7.14bn |
| Debt | CN¥10.39bn | CN¥17.25bn | CN¥18.83bn | CN¥675.2m | CN¥1.02bn | CN¥2.09bn | CN¥3.24bn | CN¥3.29bn | CN¥4.31bn | CN¥4.42bn |
| Shareholders' equity | CN¥7.80bn | CN¥11.00bn | CN¥10.89bn | CN¥4.02bn | CN¥3.96bn | CN¥3.92bn | CN¥3.88bn | CN¥3.72bn | CN¥3.65bn | CN¥3.62bn |
| Shares outstanding | 1,507m | 1,507m | 1,507m | 736m | 782m | 707m | 756m | 694m | 812m | 477m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥236.5m | CN¥244.3m | −CN¥1.94bn | −CN¥265.2m | CN¥327.6m | CN¥656.3m | CN¥256.1m | −CN¥333.9m | −CN¥1.05bn | −CN¥702.1m |
| Capital spending | −CN¥5.10bn | −CN¥5.33bn | −CN¥7.11bn | −CN¥24.5m | −CN¥122.8m | −CN¥100.0m | −CN¥180.9m | −CN¥121.0m | −CN¥117.4m | −CN¥927.1m |
| Free cash flow | −CN¥5.34bn | −CN¥5.09bn | −CN¥9.06bn | −CN¥289.7m | CN¥204.8m | CN¥556.3m | CN¥75.1m | −CN¥454.9m | −CN¥1.17bn | −CN¥1.63bn |
| Dividends paid | −CN¥516.2m | −CN¥558.6m | −CN¥582.3m | −CN¥124.1m | −CN¥44.2m | −CN¥42.0m | −CN¥14.7m | −CN¥252.7m | −CN¥210.6m | −CN¥212.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | −CN¥118.8m | CN¥83.5m | −CN¥1.49bn | −CN¥472.8m | −CN¥69.4m | CN¥28.0m | −CN¥516.7m | CN¥315.0m |
| Operating income | −CN¥325.8m | −CN¥154.1m | −CN¥1.90bn | −CN¥723.0m | −CN¥288.9m | −CN¥200.5m | CN¥409.4m | CN¥143.1m |
| Net income | −CN¥323.4m | −CN¥197.6m | −CN¥1.95bn | −CN¥859.5m | −CN¥264.6m | −CN¥309.6m | CN¥217.0m | CN¥11.1m |
| Diluted earnings per share | -0.21 | -0.13 | -1.30 | -0.57 | -0.18 | -0.21 | 0.14 | 0.01 |
| Cash from operations | — | — | — | −CN¥498.0m | −CN¥2.54bn | −CN¥786.0m | — | — |
| Capital spending | −CN¥565.0m | −CN¥169.0m | −CN¥3.96bn | −CN¥346.0m | −CN¥482.0m | −CN¥315.0m | −CN¥3.51bn | −CN¥582.0m |
| Free cash flow | — | — | — | −CN¥844.0m | −CN¥3.02bn | −CN¥1.10bn | — | — |
| Total assets | CN¥46.11bn | CN¥46.24bn | CN¥45.16bn | CN¥47.59bn | CN¥45.99bn | CN¥47.75bn | CN¥48.10bn | CN¥49.57bn |
| Cash and short-term investments | — | — | — | CN¥6.40bn | CN¥6.98bn | CN¥10.40bn | CN¥11.62bn | CN¥7.31bn |
| Debt | CN¥12.05bn | CN¥14.21bn | CN¥10.39bn | CN¥5.47bn | CN¥13.94bn | CN¥17.66bn | CN¥16.84bn | CN¥20.87bn |
| Shareholders' equity | CN¥7.28bn | CN¥7.61bn | CN¥7.80bn | CN¥9.71bn | CN¥10.39bn | CN¥10.69bn | CN¥11.00bn | CN¥10.73bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -12.6% | 4.3% | 11.1% | 14.6% | 14.4% | 13.7% |
| Operating margin | -33.6% | 4.7% | 1.3% | 2.5% | 3.9% | 9.1% |
| Net margin | -32.7% | 1.7% | 1.1% | 1.6% | 3.3% | 7.7% |
| Return on equity | -43.4% | 1.3% | 1.5% | 7.6% | 2.0% | 3.7% |
| Return on assets | -7.5% | 0.3% | 0.3% | 4.1% | 1.0% | 1.6% |
| Free cash flow yield | 36.9% | 42.3% | 39.3% | -3.7% | 6.6% | 12.2% |
| Revenue growth | 22.9% | -41.9% | -23.0% | 680.5% | 28.5% | -43.7% |
| Earnings growth | -2412.9% | -9.5% | -47.0% | 281.1% | -44.2% | 4.1% |
| Current ratio | 1.16x | 1.58x | 1.35x | 1.96x | 1.73x | 1.96x |
| Debt to equity | 1.33x | 1.53x | 1.33x | 0.17x | 0.05x | 0.41x |
| Equity ratio | 17.3% | 22.9% | 22.7% | 53.4% | 50.4% | 43.3% |
| Interest coverage | -7.53x | 0.84x | 0.39x | 1.08x | 1.16x | 1.19x |
| R&D as a share of sales | 4.0% | 4.1% | 3.3% | 2.7% | 3.0% | 3.2% |
| Buybacks as a share of market value | 0.0% | 0.0% | -104.6% | 5.8% | -10.6% | 6.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.0% | 40.7% | 7.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -5.0% | 6.5% | 7.1% | 7.2% |
| Operating margin | -16.4% | -4.6% | -3.8% | -2.3% |
| Net margin | -17.3% | -5.3% | -4.5% | -2.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.2 | 144.5 | 172.6 | 28.7 | 143.0 | 67.3 | 73.4 | 73.9 | 348.0 | -192.7 |
| Price to sales | 1.7 | 2.5 | 1.9 | 0.5 | 4.8 | 5.2 | 3.0 | 1.5 | 2.5 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 23 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.033 | 0.045 | 0.06 | 0.06 | 0.057 | 0.02 | 0.015 |
- 6-for-5 split · 28 Jun 2011
- 11-for-10 split · 10 Jun 2010
- 1-to-1 reverse split · 12 Apr 2006
- 11-for-10 split · 7 Jul 2003
- 6-for-5 split · 25 Jul 2002
- 8-for-5 split · 3 Nov 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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