C 
1.11
-1.77%
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¥8.60bn
FY2016FY2025
Net income
−CN¥22.86bn
FY2016FY2025
Free cash flow
−CN¥3.57bn
FY2016FY2025
Shareholders' equity
−CN¥17.74bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.60bn | CN¥23.77bn | CN¥35.91bn | CN¥31.94bn | CN¥43.18bn | CN¥101.21bn | CN¥105.21bn | CN¥83.80bn | CN¥59.64bn | CN¥53.82bn |
| Research and development | CN¥10.2m | CN¥9.8m | CN¥16.2m | CN¥11.5m | CN¥12.0m | CN¥19.9m | CN¥10.5m | CN¥13.6m | CN¥13.6m | CN¥13.6m |
| Operating income | −CN¥2.75bn | −CN¥4.95bn | −CN¥6.60bn | CN¥6.72bn | −CN¥41.99bn | CN¥8.01bn | CN¥22.55bn | CN¥17.87bn | CN¥12.96bn | CN¥8.82bn |
| Net income | −CN¥22.86bn | −CN¥4.82bn | −CN¥6.03bn | CN¥1.59bn | −CN¥39.03bn | CN¥3.67bn | CN¥14.61bn | CN¥11.75bn | CN¥8.84bn | CN¥6.49bn |
| Diluted earnings per share | -5.87 | -1.24 | -1.53 | 0.41 | -8.62 | 1.08 | 3.70 | 2.96 | 2.20 | 1.68 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥255.38bn | CN¥304.39bn | CN¥351.50bn | CN¥408.60bn | CN¥440.96bn | CN¥488.76bn | CN¥457.81bn | CN¥409.71bn | CN¥375.86bn | CN¥249.90bn |
| Cash and short-term investments | — | CN¥5.81bn | CN¥6.48bn | CN¥12.42bn | CN¥14.44bn | CN¥26.99bn | CN¥42.96bn | CN¥47.28bn | CN¥68.10bn | CN¥45.50bn |
| Total liabilities | CN¥260.22bn | CN¥285.15bn | CN¥329.64bn | CN¥384.27bn | CN¥417.14bn | CN¥397.33bn | CN¥384.13bn | CN¥355.00bn | CN¥304.83bn | CN¥211.87bn |
| Debt | CN¥106.89bn | CN¥135.56bn | CN¥166.77bn | CN¥196.33bn | CN¥203.62bn | CN¥192.57bn | CN¥177.65bn | CN¥135.41bn | CN¥102.31bn | CN¥69.15bn |
| Shareholders' equity | −CN¥17.74bn | CN¥4.09bn | CN¥7.16bn | CN¥9.37bn | CN¥6.31bn | CN¥61.98bn | CN¥50.04bn | CN¥43.78bn | CN¥37.10bn | CN¥25.36bn |
| Shares outstanding | 3,893m | 3,899m | 3,938m | 3,893m | 4,528m | 3,409m | 3,951m | 3,972m | 4,017m | 3,866m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥3.57bn | −CN¥2.42bn | −CN¥1.65bn | CN¥137.2m | −CN¥2.65bn | −CN¥23.16bn | −CN¥31.82bn | −CN¥7.43bn | −CN¥16.23bn | CN¥7.76bn |
| Capital spending | −CN¥463,993 | −CN¥41.2m | −CN¥42.6m | −CN¥716.5m | −CN¥1.16bn | −CN¥4.78bn | −CN¥4.34bn | −CN¥2.99bn | −CN¥4.93bn | −CN¥3.82bn |
| Free cash flow | −CN¥3.57bn | −CN¥2.46bn | −CN¥1.69bn | −CN¥579.3m | −CN¥3.81bn | −CN¥27.94bn | −CN¥36.16bn | −CN¥10.42bn | −CN¥21.16bn | CN¥3.94bn |
| Dividends paid | −CN¥134.0m | −CN¥32.5m | −CN¥111.8m | −CN¥257.7m | −CN¥1.24bn | −CN¥4.52bn | −CN¥3.60bn | −CN¥11.50bn | −CN¥7.51bn | −CN¥5.44bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥804.4m | CN¥852.7m | CN¥4.72bn | CN¥979.3m | CN¥1.73bn | CN¥1.18bn | CN¥9.85bn | CN¥8.00bn |
| Operating income | −CN¥333.8m | −CN¥429.0m | −CN¥742.8m | −CN¥999.5m | −CN¥4.80bn | −CN¥3.03bn | −CN¥2.65bn | CN¥3.12bn |
| Net income | −CN¥2.99bn | −CN¥1.70bn | −CN¥13.03bn | −CN¥3.00bn | −CN¥4.13bn | −CN¥2.70bn | −CN¥2.58bn | CN¥2.61bn |
| Diluted earnings per share | -0.77 | -0.44 | -3.35 | -0.77 | -1.06 | -0.69 | -0.66 | 0.67 |
| Cash from operations | — | — | — | −CN¥507.0m | −CN¥529.0m | −CN¥2.69bn | — | −CN¥1.79bn |
| Capital spending | −CN¥2.0m | −CN¥3.0m | — | — | — | — | −CN¥31.0m | −CN¥8.0m |
| Free cash flow | — | — | — | — | — | — | — | −CN¥1.80bn |
| Total assets | CN¥252.43bn | CN¥253.30bn | CN¥255.38bn | CN¥274.52bn | CN¥278.12bn | CN¥302.18bn | CN¥304.39bn | CN¥323.80bn |
| Cash and short-term investments | — | — | — | CN¥2.42bn | CN¥3.00bn | CN¥3.64bn | CN¥5.81bn | CN¥4.62bn |
| Debt | CN¥105.16bn | CN¥106.71bn | CN¥106.89bn | CN¥31.93bn | CN¥114.78bn | CN¥133.88bn | CN¥135.56bn | CN¥144.97bn |
| Shareholders' equity | −CN¥21.77bn | −CN¥19.08bn | −CN¥17.74bn | −CN¥4.74bn | −CN¥1.82bn | CN¥2.03bn | CN¥4.09bn | CN¥5.84bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -211.7% | -15.5% | -7.9% | -14.1% | -45.0% | 16.1% |
| Net margin | -265.7% | -20.3% | -16.8% | 5.0% | -90.4% | 3.6% |
| Return on equity | 128.8% | -117.6% | -84.2% | 17.0% | -618.8% | 5.9% |
| Return on assets | -9.0% | -1.6% | -1.7% | 0.4% | -8.9% | 0.7% |
| Free cash flow yield | -74.0% | -49.2% | -32.8% | 17.7% | -26.4% | -434.9% |
| Revenue growth | -63.8% | -33.8% | 12.4% | -26.0% | -57.3% | -3.8% |
| Earnings growth | 374.5% | -20.1% | -479.6% | -104.1% | -1164.8% | -74.9% |
| Current ratio | 1.58x | 1.88x | 1.98x | 1.54x | 1.08x | 1.54x |
| Debt to equity | -6.02x | 33.10x | 23.29x | 20.95x | 28.44x | 2.23x |
| Equity ratio | -6.9% | 1.3% | 2.0% | 2.3% | 1.4% | 12.7% |
| Interest coverage | -1.99x | -0.43x | -0.31x | -0.33x | -1.08x | 2.08x |
| R&D as a share of sales | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.2% | 1.0% | -1.1% | 14.0% | -32.8% | 13.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -35.4% | -38.9% | -13.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -23.8% | -7.6% | -17.0% | 4.7% |
| Net margin | -85.5% | -32.0% | -27.6% | -3.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.4 | -2.2 | -1.1 | 6.2 | -0.4 | 12.0 | 6.0 | 6.6 | 11.0 | 10.9 |
| Price to sales | 1.0 | 0.4 | 0.2 | 0.3 | 0.4 | 0.4 | 0.8 | 0.9 | 1.6 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.012 | 0.009 | 0.007 | 0.508 | 0.415 | 0.006 | 0.058 | 0.098 |
- 13-for-10 split · 10 Jul 2020
- 2-for-1 split · 4 May 2015
- 3-for-2 split · 10 Oct 2013
- 8-for-5 split · 1 Jun 2011
- 1.524-for-1 split · 11 Jul 2006
- 1-to-1 reverse split · 12 Jun 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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