C 
1.00
-3.85%
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.
Revenue
CN¥21.54bn
FY2016FY2025
Net income
−CN¥3.13bn
FY2016FY2025
Free cash flow
−CN¥603.1m
FY2016FY2025
Shareholders' equity
CN¥4.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥21.54bn | CN¥31.50bn | CN¥40.09bn | CN¥55.87bn | CN¥47.64bn | CN¥36.66bn | CN¥40.26bn | CN¥38.10bn | CN¥37.50bn | CN¥21.23bn |
| Gross profit | CN¥750.1m | CN¥1.13bn | CN¥747.1m | CN¥1.24bn | CN¥2.03bn | CN¥1.24bn | CN¥2.88bn | CN¥3.00bn | CN¥2.78bn | CN¥1.97bn |
| Research and development | CN¥2.9m | CN¥3.9m | CN¥4.3m | CN¥4.9m | CN¥3.6m | CN¥2.6m | — | — | — | — |
| Operating income | CN¥191.2m | CN¥163.7m | CN¥356.1m | CN¥638.8m | CN¥952.2m | CN¥555.0m | CN¥918.1m | CN¥562.2m | CN¥1.52bn | CN¥1.00bn |
| Net income | −CN¥3.13bn | CN¥66.6m | CN¥294.3m | CN¥459.2m | CN¥819.4m | CN¥156.8m | CN¥413.4m | CN¥475.5m | CN¥715.1m | CN¥530.9m |
| Diluted earnings per share | -2.90 | 0.06 | 0.27 | 0.43 | 0.79 | 0.15 | 0.41 | 0.47 | 0.70 | 0.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥21.47bn | CN¥31.22bn | CN¥30.36bn | CN¥30.49bn | CN¥27.59bn | CN¥28.35bn | CN¥22.61bn | CN¥20.60bn | CN¥21.16bn | CN¥16.37bn |
| Cash and short-term investments | — | CN¥3.79bn | CN¥3.82bn | CN¥3.62bn | CN¥4.66bn | CN¥4.36bn | CN¥5.24bn | CN¥4.41bn | CN¥3.34bn | CN¥3.61bn |
| Total liabilities | CN¥16.81bn | CN¥23.29bn | CN¥22.41bn | CN¥22.96bn | CN¥20.74bn | CN¥22.23bn | CN¥16.42bn | CN¥14.89bn | CN¥15.93bn | CN¥11.75bn |
| Debt | CN¥1.00bn | CN¥4.37bn | CN¥9.67bn | CN¥2.80bn | CN¥3.44bn | CN¥3.33bn | CN¥3.15bn | CN¥5.60bn | CN¥8.00bn | CN¥7.82bn |
| Shareholders' equity | CN¥4.65bn | CN¥7.89bn | CN¥7.90bn | CN¥7.51bn | CN¥6.85bn | CN¥6.12bn | CN¥6.17bn | CN¥5.71bn | CN¥5.23bn | CN¥4.63bn |
| Shares outstanding | 1,079m | 1,075m | 1,082m | 1,062m | 1,031m | 1,016m | 1,016m | 1,016m | 1,020m | 1,012m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥548.2m | −CN¥789.0m | −CN¥576.5m | CN¥3.24bn | −CN¥571.4m | CN¥2.66bn | CN¥7.04bn | CN¥3.93bn | −CN¥2.06bn | −CN¥4.09bn |
| Capital spending | −CN¥54.9m | −CN¥284.2m | −CN¥309.0m | −CN¥3.0m | −CN¥11.3m | −CN¥10.3m | −CN¥21.1m | −CN¥29.6m | −CN¥5.5m | −CN¥14.8m |
| Free cash flow | −CN¥603.1m | −CN¥1.07bn | −CN¥885.4m | CN¥3.23bn | −CN¥582.7m | CN¥2.65bn | CN¥7.02bn | CN¥3.90bn | −CN¥2.07bn | −CN¥4.11bn |
| Dividends paid | −CN¥248.8m | −CN¥304.1m | −CN¥345.0m | −CN¥185.7m | −CN¥47.1m | −CN¥124.0m | −CN¥47.6m | −CN¥697.8m | −CN¥602.9m | −CN¥183.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥325.1m | CN¥478.2m | CN¥5.53bn | CN¥6.55bn | CN¥4.33bn | CN¥5.14bn | CN¥8.95bn | CN¥8.17bn |
| Gross profit | CN¥6.0m | −CN¥18.4m | CN¥27.8m | CN¥212.4m | CN¥133.0m | CN¥240.9m | CN¥207.1m | CN¥299.3m |
| Operating income | −CN¥56.8m | −CN¥65.4m | −CN¥78.9m | CN¥29.5m | CN¥34.5m | CN¥166.9m | CN¥27.0m | −CN¥31.4m |
| Net income | −CN¥759.0m | −CN¥302.3m | −CN¥3.21bn | CN¥17.8m | CN¥22.8m | CN¥34.1m | −CN¥58.7m | −CN¥36.0m |
| Diluted earnings per share | -0.70 | -0.28 | -2.97 | 0.02 | 0.02 | 0.03 | -0.05 | -0.03 |
| Cash from operations | — | — | — | CN¥223.0m | CN¥328.0m | −CN¥439.0m | — | −CN¥74.0m |
| Capital spending | −CN¥1.0m | — | −CN¥4.0m | −CN¥22.0m | −CN¥2.0m | −CN¥25.0m | −CN¥83.0m | −CN¥47.0m |
| Free cash flow | — | — | — | CN¥201.0m | CN¥326.0m | −CN¥464.0m | — | −CN¥121.0m |
| Total assets | CN¥18.65bn | CN¥19.86bn | CN¥21.47bn | CN¥30.85bn | CN¥29.23bn | CN¥30.91bn | CN¥31.22bn | CN¥34.92bn |
| Cash and short-term investments | — | — | — | CN¥2.29bn | CN¥2.79bn | CN¥2.69bn | CN¥3.79bn | CN¥3.50bn |
| Debt | CN¥628.5m | CN¥996.3m | CN¥1.00bn | CN¥7.02bn | CN¥4.13bn | CN¥4.55bn | CN¥4.16bn | CN¥3.65bn |
| Shareholders' equity | CN¥3.48bn | CN¥4.29bn | CN¥4.65bn | CN¥7.88bn | CN¥7.90bn | CN¥7.92bn | CN¥7.89bn | CN¥7.87bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 2.9% | 3.6% | 1.9% | 2.2% | 4.3% | 3.4% |
| Operating margin | -12.7% | 1.5% | 1.8% | 1.8% | 2.7% | 1.5% |
| Net margin | -14.5% | 0.2% | 0.7% | 0.8% | 1.7% | 0.4% |
| Return on equity | -67.4% | 0.8% | 3.7% | 6.1% | 12.0% | 2.6% |
| Return on assets | -14.6% | 0.2% | 1.0% | 1.5% | 3.0% | 0.6% |
| Free cash flow yield | -38.1% | -39.1% | -20.6% | 254.0% | -45.3% | 218.9% |
| Revenue growth | -31.6% | -21.4% | -28.2% | 17.3% | 29.9% | -8.9% |
| Earnings growth | -4800.7% | -77.4% | -35.9% | -44.0% | 422.5% | -62.1% |
| Current ratio | 0.66x | 0.82x | 0.75x | 0.72x | 0.85x | 0.87x |
| Debt to equity | 0.22x | 0.53x | 1.18x | 0.25x | 0.40x | 0.17x |
| Equity ratio | 21.6% | 25.3% | 26.0% | 24.6% | 24.8% | 21.6% |
| Interest coverage | -7.60x | 1.51x | 1.99x | 2.76x | 3.68x | 1.57x |
| R&D as a share of sales | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.4% | 0.6% | -1.8% | -3.1% | -1.4% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -27.2% | -10.1% | 8.6% |
| Operating income | -33.1% | -19.2% | -6.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 3.5% | 2.6% | 3.1% | 5.1% |
| Operating margin | 0.7% | 0.9% | 1.2% | 1.9% |
| Net margin | -5.8% | -1.6% | -0.6% | 0.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.2 | 69.4 | 22.4 | 13.1 | 9.0 | 33.8 | 17.2 | 15.1 | 14.9 | 25.8 |
| Price to sales | 0.2 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 23 Oct 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.035 | 0.115 | 0.133 | 0.177 | 0.047 | 0.122 | 0.047 | 0.07 |
- 1-to-1 reverse split · 24 Jan 2006
- 6-for-5 split · 19 Oct 2001
- 8-for-5 split · 10 May 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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