Q 
Qinghai Spring Medicinal Resources Technology Co 600381.SS · CNY
Health Care · Shanghai · 🇨🇳 China
4.18
+3.98%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥343.4m
FY2016FY2025
Net income
−CN¥37.3m
FY2016FY2025
Free cash flow
−CN¥33.0m
FY2016FY2025
Shareholders' equity
CN¥995.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥343.4m | CN¥270.3m | CN¥213.9m | CN¥160.2m | CN¥127.8m | CN¥124.3m | CN¥233.7m | CN¥333.0m | CN¥471.1m | CN¥708.1m |
| Research and development | CN¥10.6m | CN¥15.0m | CN¥11.6m | CN¥11.4m | CN¥9.5m | CN¥12.3m | CN¥4.5m | CN¥3.0m | CN¥2.4m | CN¥9.1m |
| Operating income | CN¥1.1m | −CN¥195.0m | −CN¥259.0m | −CN¥295.5m | −CN¥252.5m | −CN¥314.9m | −CN¥12.3m | CN¥20.9m | CN¥298.0m | CN¥244.6m |
| Net income | −CN¥37.3m | −CN¥198.8m | −CN¥267.9m | −CN¥287.5m | −CN¥248.6m | −CN¥319.5m | CN¥5.8m | CN¥68.4m | CN¥310.5m | CN¥245.0m |
| Diluted earnings per share | -0.10 | -0.34 | -0.47 | -0.50 | -0.41 | -0.53 | 0.01 | 0.16 | 0.97 | 0.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.04bn | CN¥1.16bn | CN¥1.36bn | CN¥1.56bn | CN¥1.85bn | CN¥2.21bn | CN¥2.41bn | CN¥2.44bn | CN¥2.43bn | CN¥2.21bn |
| Cash and short-term investments | — | CN¥208.0m | CN¥172.9m | CN¥169.3m | CN¥199.6m | CN¥212.5m | CN¥337.9m | CN¥520.8m | CN¥708.7m | CN¥680.9m |
| Total liabilities | CN¥44.9m | CN¥128.0m | CN¥92.0m | CN¥26.3m | CN¥27.6m | CN¥137.1m | CN¥20.1m | CN¥52.7m | CN¥113.6m | CN¥207.0m |
| Debt | — | CN¥11.8m | CN¥18.7m | CN¥4.9m | CN¥1.1m | CN¥1.2m | — | — | — | — |
| Shareholders' equity | CN¥995.2m | CN¥1.03bn | CN¥1.27bn | CN¥1.53bn | CN¥1.82bn | CN¥2.07bn | CN¥2.39bn | CN¥2.38bn | CN¥2.32bn | CN¥2.00bn |
| Shares outstanding | 382m | 588m | 571m | 580m | 603m | 607m | 548m | 418m | 322m | 447m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥26.4m | CN¥81.0m | CN¥23.9m | −CN¥31.8m | −CN¥63.9m | −CN¥78.0m | −CN¥236.3m | −CN¥184.0m | CN¥95.7m | CN¥345.0m |
| Capital spending | −CN¥6.5m | −CN¥4.9m | −CN¥13.5m | −CN¥822,895 | −CN¥121.8m | −CN¥197.6m | −CN¥5.3m | −CN¥43.5m | −CN¥20.7m | −CN¥25.4m |
| Free cash flow | −CN¥33.0m | CN¥76.0m | CN¥10.4m | −CN¥32.6m | −CN¥185.7m | −CN¥275.6m | −CN¥241.6m | −CN¥227.5m | CN¥75.0m | CN¥319.6m |
| Dividends paid | — | — | — | — | — | — | −CN¥1.9m | −CN¥11,112 | −CN¥1.9m | −CN¥11,111 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥15.3m | CN¥43.8m | CN¥130.9m | CN¥87.7m | CN¥41.3m | CN¥83.6m | CN¥72.2m | CN¥59.7m |
| Operating income | −CN¥27.9m | −CN¥16.4m | −CN¥1.4m | −CN¥3.1m | CN¥1.3m | CN¥5.8m | −CN¥113.3m | −CN¥29.0m |
| Net income | −CN¥19.8m | −CN¥16.3m | −CN¥34.5m | −CN¥4.1m | −CN¥7.6m | CN¥8.9m | −CN¥108.3m | −CN¥30.6m |
| Diluted earnings per share | -0.05 | -0.04 | -0.09 | -0.01 | -0.02 | 0.02 | -0.18 | -0.05 |
| Cash from operations | — | — | — | −CN¥8.0m | CN¥17.0m | −CN¥77.0m | CN¥61.0m | CN¥2.0m |
| Capital spending | −CN¥3.0m | −CN¥1.0m | −CN¥1.0m | −CN¥3.0m | — | — | −CN¥1.0m | −CN¥1.0m |
| Free cash flow | — | — | — | −CN¥11.0m | — | — | CN¥60.0m | CN¥1.0m |
| Total assets | CN¥996.8m | CN¥1.02bn | CN¥1.04bn | CN¥1.08bn | CN¥1.09bn | CN¥1.12bn | CN¥1.16bn | CN¥1.21bn |
| Cash and short-term investments | — | — | — | CN¥128.0m | CN¥142.0m | CN¥126.8m | CN¥208.0m | CN¥144.4m |
| Debt | — | — | — | CN¥4.6m | CN¥6.9m | CN¥8.1m | CN¥8.8m | CN¥11.1m |
| Shareholders' equity | CN¥959.1m | CN¥979.0m | CN¥995.2m | CN¥1.03bn | CN¥1.03bn | CN¥1.04bn | CN¥1.03bn | CN¥1.14bn |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -7.2% | -74.1% | -121.2% | -184.3% | -197.5% | -253.4% | — | — |
| Net margin | -10.9% | -73.5% | -125.2% | -179.5% | -194.6% | -257.1% | — | — |
| Return on equity | -3.7% | -19.2% | -21.2% | -18.8% | -13.7% | -15.4% | — | — |
| Return on assets | -3.6% | -17.1% | -19.7% | -18.4% | -13.5% | -14.5% | — | — |
| Free cash flow yield | -1.4% | 3.8% | 1.7% | -1.4% | 2.5% | 5.1% | — | — |
| Revenue growth | 27.1% | 26.4% | 33.5% | 25.4% | 2.8% | -46.8% | — | — |
| Earnings growth | -81.2% | -25.8% | -6.8% | 15.7% | -22.2% | -5602.0% | — | — |
| Current ratio | 14.76x | 4.96x | 9.23x | 37.56x | 40.25x | 9.28x | — | — |
| Debt to equity | — | 0.01x | 0.01x | 0.00x | 0.00x | — | 0.00x | 0.82x |
| Equity ratio | 95.3% | 88.7% | 93.1% | 98.3% | 98.5% | 93.8% | — | — |
| Interest coverage | -115.66x | -208.26x | -269.44x | -3222.78x | -2721.57x | -2021.39x | — | — |
| R&D as a share of sales | 3.1% | 5.5% | 5.4% | 7.1% | 7.5% | 9.9% | — | — |
| Buybacks as a share of market value | 35.0% | -2.9% | 1.6% | 3.8% | 0.6% | -10.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 28.9% | 22.5% | -13.1% |
| Operating income | — | — | -44.6% |
| Net income | -49.4% | -34.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -31.6% | -75.8% | -106.1% | -8.4% |
| Net margin | -38.5% | -80.1% | -109.7% | -8.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -45.4 | -10.8 | -16.5 | -24.8 | -20.4 | -16.4 | — | 35.1 | 11.0 | 28.1 |
| Price to sales | 4.9 | 7.9 | 20.6 | 44.6 | 39.8 | 42.0 | 12.6 | 7.2 | 7.3 | 9.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 May 2003.
| FY2003 | FY2002 | |
|---|---|---|
| Paid in the year | 0.077 | 0.074 |
- 8.052-to-1 reverse split · 27 Jun 2014
- 17-for-10 split · 15 May 2012
- 3-for-2 split · 25 Aug 2011
- 1.071-for-1 split · 27 Nov 2006
- 13-for-10 split · 12 May 2005
- 2-for-1 split · 19 Jul 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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