B 
2.68
0.00%
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¥30.10bn
FY2016FY2025
Net income
−CN¥6.62bn
FY2016FY2025
Free cash flow
CN¥7.63bn
FY2016FY2025
Shareholders' equity
CN¥9.91bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥30.10bn | CN¥24.21bn | CN¥47.76bn | CN¥47.92bn | CN¥67.80bn | CN¥44.23bn | CN¥47.65bn | CN¥39.74bn | CN¥36.69bn | CN¥29.88bn |
| Gross profit | CN¥4.10bn | −CN¥1.92bn | CN¥3.78bn | CN¥7.91bn | CN¥11.95bn | CN¥12.00bn | CN¥17.18bn | CN¥12.35bn | CN¥12.14bn | CN¥10.00bn |
| Research and development | CN¥3.7m | CN¥11.4m | CN¥13.3m | CN¥9.7m | CN¥6.4m | — | CN¥2.5m | — | — | — |
| Operating income | CN¥1.15bn | −CN¥4.65bn | −CN¥760.2m | CN¥4.52bn | CN¥6.43bn | CN¥6.67bn | CN¥10.91bn | CN¥7.55bn | CN¥5.26bn | CN¥5.32bn |
| Net income | −CN¥6.62bn | −CN¥8.14bn | −CN¥6.34bn | −CN¥460.9m | CN¥263.7m | CN¥3.14bn | CN¥2.76bn | CN¥3.17bn | CN¥2.32bn | CN¥1.90bn |
| Diluted earnings per share | -2.57 | -3.16 | -2.46 | -0.18 | 0.10 | 1.22 | 1.07 | 1.23 | 0.90 | 0.74 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥194.79bn | CN¥229.87bn | CN¥253.23bn | CN¥278.30bn | CN¥314.32bn | CN¥327.84bn | CN¥303.37bn | CN¥291.41bn | CN¥240.46bn | CN¥181.42bn |
| Cash and short-term investments | — | CN¥18.84bn | CN¥22.95bn | CN¥20.53bn | CN¥31.40bn | CN¥35.55bn | CN¥25.24bn | CN¥32.74bn | CN¥22.65bn | CN¥26.86bn |
| Total liabilities | CN¥152.14bn | CN¥178.81bn | CN¥193.37bn | CN¥211.26bn | CN¥247.29bn | CN¥263.67bn | CN¥245.47bn | CN¥237.74bn | CN¥193.79bn | CN¥144.97bn |
| Debt | CN¥74.83bn | CN¥91.75bn | CN¥103.16bn | CN¥119.08bn | CN¥127.66bn | CN¥136.89bn | CN¥123.56bn | CN¥121.47bn | CN¥102.60bn | CN¥78.68bn |
| Shareholders' equity | CN¥9.91bn | CN¥13.57bn | CN¥17.97bn | CN¥27.81bn | CN¥30.63bn | CN¥31.59bn | CN¥29.49bn | CN¥30.89bn | CN¥30.72bn | CN¥27.76bn |
| Shares outstanding | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m | 2,580m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥7.88bn | CN¥7.38bn | CN¥5.67bn | CN¥4.42bn | CN¥7.40bn | CN¥5.59bn | CN¥1.72bn | CN¥11.64bn | −CN¥20.45bn | −CN¥8.51bn |
| Capital spending | −CN¥255.7m | −CN¥190.9m | −CN¥298.2m | −CN¥580.7m | −CN¥773.1m | −CN¥634.0m | −CN¥581.1m | −CN¥478.7m | −CN¥94.2m | −CN¥54.9m |
| Free cash flow | CN¥7.63bn | CN¥7.19bn | CN¥5.37bn | CN¥3.84bn | CN¥6.63bn | CN¥4.96bn | CN¥1.14bn | CN¥11.16bn | −CN¥20.55bn | −CN¥8.56bn |
| Dividends paid | −CN¥4.30bn | −CN¥4.66bn | −CN¥258.0m | −CN¥258.0m | −CN¥8.04bn | −CN¥1.03bn | −CN¥7.84bn | −CN¥7.56bn | −CN¥5.76bn | −CN¥5.18bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.71bn | CN¥4.92bn | CN¥6.91bn | CN¥5.15bn | CN¥14.15bn | CN¥3.89bn | CN¥9.75bn | CN¥5.67bn |
| Gross profit | CN¥356.2m | CN¥383.3m | CN¥1.54bn | CN¥321.6m | CN¥1.95bn | CN¥282.8m | −CN¥2.92bn | CN¥165.1m |
| Operating income | −CN¥79.3m | −CN¥25.6m | CN¥559.3m | −CN¥87.0m | CN¥891.8m | −CN¥1.14bn | −CN¥3.76bn | −CN¥2.61bn |
| Net income | −CN¥1.08bn | −CN¥755.0m | −CN¥3.52bn | −CN¥1.27bn | −CN¥759.3m | −CN¥1.08bn | −CN¥3.86bn | −CN¥2.33bn |
| Diluted earnings per share | -0.42 | -0.29 | -1.36 | -0.49 | -0.29 | -0.42 | -1.50 | -0.91 |
| Cash from operations | — | — | — | −CN¥1.98bn | CN¥2.46bn | CN¥4.62bn | CN¥9.85bn | CN¥2.02bn |
| Capital spending | −CN¥74.0m | −CN¥61.0m | −CN¥80.0m | −CN¥67.0m | −CN¥37.0m | −CN¥69.0m | −CN¥56.0m | −CN¥27.0m |
| Free cash flow | — | — | — | −CN¥2.04bn | CN¥2.43bn | CN¥4.55bn | CN¥9.80bn | CN¥2.00bn |
| Total assets | CN¥182.66bn | CN¥188.67bn | CN¥194.79bn | CN¥206.93bn | CN¥208.89bn | CN¥222.68bn | CN¥229.87bn | CN¥235.05bn |
| Cash and short-term investments | — | — | — | CN¥16.62bn | CN¥15.42bn | CN¥16.65bn | CN¥18.84bn | CN¥13.70bn |
| Debt | CN¥75.52bn | CN¥76.52bn | CN¥74.83bn | CN¥23.12bn | CN¥84.36bn | CN¥84.65bn | CN¥91.36bn | CN¥97.98bn |
| Shareholders' equity | CN¥5.15bn | CN¥7.37bn | CN¥9.91bn | CN¥6.52bn | CN¥11.62bn | CN¥12.44bn | CN¥13.57bn | CN¥17.44bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 13.6% | -7.9% | 7.9% | 16.5% | 17.6% | 27.1% | — |
| Operating margin | 3.8% | -19.2% | -1.6% | 9.4% | 9.5% | 15.1% | — |
| Net margin | -22.0% | -33.6% | -13.3% | -1.0% | 0.4% | 7.1% | — |
| Return on equity | -66.8% | -60.0% | -35.3% | -1.7% | 0.9% | 9.9% | — |
| Return on assets | -3.4% | -3.5% | -2.5% | -0.2% | 0.1% | 1.0% | — |
| Free cash flow yield | 95.6% | 89.0% | 70.1% | 58.7% | 96.1% | 73.1% | — |
| Revenue growth | 24.3% | -49.3% | -0.3% | -29.3% | 53.3% | -7.2% | — |
| Earnings growth | -18.6% | 28.4% | 1275.1% | -274.8% | -91.6% | 13.8% | — |
| Current ratio | 2.22x | 2.31x | 2.37x | 2.17x | 2.06x | 1.91x | — |
| Debt to equity | 7.55x | 6.73x | 5.72x | 3.62x | 4.15x | 3.42x | — |
| Equity ratio | 5.1% | 5.9% | 7.1% | 10.0% | 9.7% | 9.6% | — |
| Interest coverage | 0.33x | -1.30x | -0.20x | 1.26x | 1.64x | 1.74x | — |
| 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 | 0.0% | -0.0% | 0.0% | 0.0% | -0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.4% | -7.4% | 2.5% |
| Operating income | -36.6% | -29.6% | -11.4% |
| Net income | 143.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.0% | 9.3% | 14.4% | 22.4% |
| Operating margin | -6.4% | 0.2% | 5.1% | 10.5% |
| Net margin | -27.2% | -14.4% | -6.9% | -1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.6 | -0.8 | -1.2 | -31.8 | 55.4 | 4.8 | 7.5 | 5.9 | 10.3 | 16.0 |
| Price to sales | 0.6 | 0.3 | 0.2 | 0.3 | 0.2 | 0.3 | 0.4 | 0.5 | 0.7 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.10 | 0.40 | 0.40 | 0.40 | 0.60 | 0.35 | 0.25 |
- 3-for-2 split · 20 May 2013
- 13-for-10 split · 22 Apr 2011
- 3-for-2 split · 15 Jun 2006
- 1-to-1 reverse split · 16 Feb 2006
- 8-for-5 split · 20 May 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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