L 
1.33
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¥4.43bn
FY2016FY2025
Net income
−CN¥2.59bn
FY2016FY2025
Free cash flow
CN¥1.73bn
FY2016FY2025
Shareholders' equity
CN¥7.07bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.43bn | CN¥9.12bn | CN¥9.00bn | CN¥14.25bn | CN¥19.55bn | CN¥17.79bn | CN¥21.43bn | CN¥20.21bn | CN¥17.87bn | CN¥14.59bn |
| Research and development | CN¥100.6m | CN¥125.7m | CN¥134.7m | CN¥101.2m | CN¥122.5m | CN¥74.8m | CN¥73.4m | CN¥54.7m | CN¥43.8m | CN¥22.4m |
| Operating income | −CN¥87.4m | −CN¥531.5m | −CN¥1.42bn | CN¥520.7m | CN¥948.5m | CN¥1.14bn | CN¥1.49bn | CN¥1.26bn | CN¥844.1m | CN¥500.0m |
| Net income | −CN¥2.59bn | −CN¥663.4m | −CN¥1.31bn | CN¥380.8m | CN¥667.3m | CN¥808.9m | CN¥1.02bn | CN¥922.2m | CN¥606.5m | CN¥348.4m |
| Diluted earnings per share | -1.51 | -0.40 | -0.85 | 0.26 | 0.44 | 0.54 | 0.68 | 0.83 | 0.47 | 0.30 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥49.77bn | CN¥55.43bn | CN¥57.84bn | CN¥66.65bn | CN¥67.03bn | CN¥62.54bn | CN¥59.45bn | CN¥51.48bn | CN¥37.29bn | CN¥27.43bn |
| Cash and short-term investments | — | CN¥1.30bn | CN¥1.65bn | CN¥2.85bn | CN¥2.97bn | CN¥3.35bn | CN¥3.93bn | CN¥4.19bn | CN¥1.77bn | CN¥2.45bn |
| Total liabilities | CN¥41.55bn | CN¥44.22bn | CN¥45.91bn | CN¥53.22bn | CN¥53.86bn | CN¥50.02bn | CN¥47.72bn | CN¥40.83bn | CN¥31.08bn | CN¥21.94bn |
| Debt | CN¥14.75bn | CN¥20.20bn | CN¥20.91bn | CN¥24.48bn | CN¥24.53bn | CN¥23.65bn | CN¥18.45bn | CN¥11.97bn | CN¥7.26bn | CN¥3.66bn |
| Shareholders' equity | CN¥7.07bn | CN¥10.10bn | CN¥10.80bn | CN¥12.28bn | CN¥12.06bn | CN¥11.37bn | CN¥10.63bn | CN¥9.70bn | CN¥5.88bn | CN¥5.27bn |
| Shares outstanding | 1,710m | 1,652m | 1,536m | 1,480m | 1,531m | 1,492m | 1,506m | 1,116m | 1,283m | 1,151m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.80bn | CN¥1.42bn | CN¥1.63bn | −CN¥1.71bn | −CN¥242.5m | CN¥317.7m | CN¥362.2m | −CN¥1.10bn | −CN¥415.4m | CN¥1.16bn |
| Capital spending | −CN¥70.4m | −CN¥49.9m | −CN¥39.9m | −CN¥45.8m | −CN¥72.2m | −CN¥346.9m | −CN¥51.2m | −CN¥28.7m | −CN¥100.2m | −CN¥164.9m |
| Free cash flow | CN¥1.73bn | CN¥1.37bn | CN¥1.59bn | −CN¥1.76bn | −CN¥314.7m | −CN¥29.1m | CN¥311.0m | −CN¥1.13bn | −CN¥515.7m | CN¥991.9m |
| Dividends paid | −CN¥887.6m | −CN¥1.16bn | −CN¥1.17bn | −CN¥64.2m | −CN¥76.5m | −CN¥109.9m | −CN¥91.8m | −CN¥612.7m | −CN¥368.5m | −CN¥242.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥676.5m | CN¥1.26bn | CN¥565.4m | CN¥1.21bn | CN¥1.26bn | CN¥1.39bn | CN¥2.26bn | CN¥1.91bn |
| Operating income | −CN¥80.0m | CN¥224.5m | −CN¥949.3m | −CN¥338.8m | −CN¥98.9m | CN¥246.4m | −CN¥246.7m | −CN¥106.4m |
| Net income | −CN¥675.8m | −CN¥129.0m | −CN¥2.33bn | −CN¥326.8m | −CN¥122.2m | CN¥192.6m | −CN¥347.0m | −CN¥113.3m |
| Diluted earnings per share | -0.40 | -0.08 | -1.36 | -0.19 | -0.07 | 0.11 | -0.21 | -0.07 |
| Cash from operations | — | — | — | CN¥220.0m | CN¥126.0m | CN¥22.0m | — | −CN¥146.0m |
| Capital spending | −CN¥1.0m | −CN¥11.0m | −CN¥61.0m | — | −CN¥1.0m | −CN¥7.0m | −CN¥16.0m | −CN¥2.0m |
| Free cash flow | — | — | — | — | CN¥125.0m | CN¥15.0m | — | −CN¥148.0m |
| Total assets | CN¥47.61bn | CN¥48.30bn | CN¥49.77bn | CN¥52.62bn | CN¥53.02bn | CN¥53.57bn | CN¥55.43bn | CN¥55.53bn |
| Cash and short-term investments | — | — | — | CN¥1.21bn | CN¥993.0m | CN¥1.09bn | CN¥1.30bn | CN¥1.05bn |
| Debt | CN¥14.70bn | CN¥14.74bn | CN¥14.75bn | CN¥6.32bn | CN¥20.18bn | CN¥20.17bn | CN¥20.19bn | CN¥21.39bn |
| Shareholders' equity | CN¥6.28bn | CN¥6.95bn | CN¥7.07bn | CN¥9.81bn | CN¥10.14bn | CN¥10.29bn | CN¥10.10bn | CN¥10.46bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -15.2% | 10.7% | 1.1% | 14.8% | 12.5% | 7.7% |
| Net margin | -58.3% | -7.3% | -14.6% | 2.7% | 3.4% | 4.5% |
| Return on equity | -36.6% | -6.6% | -12.1% | 3.1% | 5.5% | 7.1% |
| Return on assets | -5.2% | -1.2% | -2.3% | 0.6% | 1.0% | 1.3% |
| Free cash flow yield | 77.5% | 63.3% | 76.9% | -80.0% | -7.9% | 31.6% |
| Revenue growth | -51.4% | 1.3% | -36.8% | -27.1% | 9.9% | -17.0% |
| Earnings growth | 289.7% | -49.4% | -444.2% | -42.9% | -17.5% | -20.8% |
| Current ratio | 0.82x | 1.03x | 1.12x | 1.45x | 1.52x | 0.92x |
| Debt to equity | 2.09x | 2.00x | 1.93x | 1.79x | 2.03x | 1.97x |
| Equity ratio | 14.2% | 18.2% | 18.7% | 18.4% | 18.0% | 18.2% |
| Interest coverage | -0.39x | 0.63x | 0.07x | 1.32x | 1.63x | 5.58x |
| R&D as a share of sales | 2.3% | 1.4% | 1.5% | 0.7% | 0.6% | 0.4% |
| Buybacks as a share of market value | -3.6% | -7.5% | -3.7% | 3.3% | -2.6% | 0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -32.2% | -24.3% | -12.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.6% | -4.1% | 0.8% | 3.0% |
| Net margin | -24.0% | -11.4% | -3.6% | 0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.8 | -9.3 | -4.6 | 24.4 | 15.8 | 9.7 | 10.8 | 8.2 | 20.0 | 38.1 |
| Price to sales | 1.0 | 0.7 | 0.7 | 0.7 | 0.5 | 0.4 | 0.5 | 0.4 | 0.7 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jul 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.042 | 0.05 | 0.072 | 0.06 | 0.035 | 0.035 | 0.02 | 0.03 |
- 8-for-5 split · 13 Jun 2006
- 1-to-1 reverse split · 15 Nov 2005
- 3-for-2 split · 18 May 2005
- 3-for-2 split · 15 Oct 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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