N 
1.84
-3.16%
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¥4.93bn
FY2016FY2025
Net income
−CN¥1.84bn
FY2016FY2025
Free cash flow
CN¥229.2m
FY2016FY2025
Shareholders' equity
CN¥1.38bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.93bn | CN¥2.12bn | CN¥4.77bn | CN¥6.92bn | CN¥3.20bn | CN¥3.31bn | CN¥2.31bn | CN¥2.34bn | CN¥1.71bn | CN¥2.90bn |
| Gross profit | CN¥926.2m | CN¥422.5m | CN¥735.9m | CN¥1.23bn | CN¥1.09bn | CN¥1.05bn | CN¥968.2m | CN¥977.2m | CN¥289.0m | CN¥601.3m |
| Operating income | CN¥434.4m | −CN¥1.21bn | CN¥54.9m | CN¥467.1m | CN¥776.6m | CN¥597.0m | CN¥582.7m | CN¥635.1m | CN¥230.8m | CN¥391.6m |
| Net income | −CN¥1.84bn | −CN¥938.2m | −CN¥134.4m | CN¥188.7m | CN¥369.7m | CN¥326.5m | CN¥298.1m | CN¥217.6m | CN¥54.2m | CN¥195.4m |
| Diluted earnings per share | -1.76 | -0.91 | -0.14 | 0.18 | 0.34 | 0.31 | 0.28 | 0.21 | 0.05 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥17.04bn | CN¥23.29bn | CN¥24.39bn | CN¥22.75bn | CN¥23.15bn | CN¥22.12bn | CN¥20.60bn | CN¥16.31bn | CN¥15.34bn | CN¥14.02bn |
| Cash and short-term investments | — | CN¥1.77bn | CN¥2.75bn | CN¥1.92bn | CN¥2.43bn | CN¥2.43bn | CN¥2.47bn | CN¥2.45bn | CN¥1.47bn | CN¥1.35bn |
| Total liabilities | CN¥15.53bn | CN¥19.90bn | CN¥20.03bn | CN¥18.11bn | CN¥18.64bn | CN¥17.87bn | CN¥16.56bn | CN¥12.64bn | CN¥11.49bn | CN¥10.05bn |
| Debt | CN¥8.19bn | CN¥8.17bn | CN¥12.02bn | CN¥9.07bn | CN¥8.45bn | CN¥8.84bn | CN¥9.49bn | CN¥7.50bn | CN¥7.86bn | CN¥6.80bn |
| Shareholders' equity | CN¥1.38bn | CN¥3.24bn | CN¥4.16bn | CN¥4.48bn | CN¥4.44bn | CN¥4.16bn | CN¥3.95bn | CN¥3.63bn | CN¥3.81bn | CN¥3.93bn |
| Shares outstanding | 1,050m | 1,030m | 995m | 1,050m | 1,076m | 1,050m | 1,050m | 1,050m | 1,054m | 1,052m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥240.1m | −CN¥354.8m | −CN¥1.06bn | −CN¥904.6m | CN¥2.81bn | −CN¥233.7m | −CN¥2.33bn | CN¥1.92bn | −CN¥1.37bn | −CN¥2.33bn |
| Capital spending | −CN¥10.9m | −CN¥9.3m | −CN¥2.0m | −CN¥1.2m | −CN¥6.0m | −CN¥17.1m | −CN¥9.6m | −CN¥7.1m | −CN¥2.6m | −CN¥9.0m |
| Free cash flow | CN¥229.2m | −CN¥364.1m | −CN¥1.06bn | −CN¥905.8m | CN¥2.80bn | −CN¥250.7m | −CN¥2.34bn | CN¥1.91bn | −CN¥1.37bn | −CN¥2.33bn |
| Dividends paid | −CN¥370.5m | −CN¥488.1m | −CN¥630.7m | −CN¥126.0m | −CN¥105.0m | −CN¥105.0m | −CN¥105.0m | −CN¥566.7m | −CN¥466.3m | −CN¥447.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥274.9m | CN¥506.7m | CN¥409.0m | CN¥648.8m | CN¥3.48bn | CN¥359.1m | CN¥802.5m | CN¥349.4m |
| Gross profit | CN¥45.5m | CN¥58.3m | CN¥164.1m | CN¥49.1m | CN¥543.2m | CN¥140.2m | CN¥167.0m | CN¥76.0m |
| Operating income | −CN¥9.3m | CN¥6.2m | −CN¥10.1m | CN¥6.4m | CN¥148.9m | CN¥13.9m | −CN¥1.06bn | −CN¥27.4m |
| Net income | −CN¥572.1m | −CN¥55.3m | −CN¥1.86bn | −CN¥55.7m | CN¥63.2m | CN¥3.0m | −CN¥764.2m | −CN¥31.2m |
| Diluted earnings per share | -0.54 | -0.05 | -1.77 | -0.05 | 0.06 | 0.00 | -0.74 | -0.03 |
| Cash from operations | — | — | — | CN¥2.0m | CN¥336.0m | −CN¥159.0m | — | −CN¥166.0m |
| Capital spending | — | — | — | −CN¥10.0m | — | — | −CN¥5.0m | −CN¥3.0m |
| Free cash flow | — | — | — | −CN¥8.0m | — | — | — | −CN¥169.0m |
| Total assets | CN¥15.28bn | CN¥16.28bn | CN¥17.04bn | CN¥19.46bn | CN¥20.19bn | CN¥22.91bn | CN¥23.29bn | CN¥23.49bn |
| Cash and short-term investments | — | — | — | CN¥1.44bn | CN¥1.58bn | CN¥1.44bn | CN¥1.77bn | CN¥1.75bn |
| Debt | CN¥8.11bn | CN¥8.28bn | CN¥8.19bn | CN¥1.99bn | CN¥8.92bn | CN¥8.60bn | CN¥8.13bn | CN¥6.92bn |
| Shareholders' equity | CN¥712.4m | CN¥1.33bn | CN¥1.38bn | CN¥3.22bn | CN¥3.35bn | CN¥3.25bn | CN¥3.24bn | CN¥4.06bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.8% | 19.9% | 15.4% | 17.8% | 34.2% | 31.8% |
| Operating margin | -38.6% | -51.9% | 0.9% | 5.8% | 18.3% | 18.3% |
| Net margin | -37.4% | -44.3% | -2.8% | 2.7% | 11.6% | 9.9% |
| Return on equity | -133.6% | -28.9% | -3.2% | 4.2% | 8.3% | 7.8% |
| Return on assets | -10.8% | -4.0% | -0.6% | 0.8% | 1.6% | 1.5% |
| Free cash flow yield | 11.9% | -16.7% | -52.9% | -42.8% | 130.1% | -10.3% |
| Revenue growth | 132.8% | -55.6% | -31.0% | 116.4% | -3.3% | 43.3% |
| Earnings growth | 96.6% | 598.1% | -171.2% | -49.0% | 13.2% | 9.5% |
| Current ratio | 2.00x | 1.73x | 1.75x | 1.84x | 1.57x | 1.65x |
| Debt to equity | 5.93x | 2.51x | 2.88x | 1.49x | 1.89x | 2.12x |
| Equity ratio | 8.1% | 13.9% | 17.0% | 19.7% | 19.2% | 18.8% |
| Interest coverage | -15.60x | -8.51x | 0.28x | 4.25x | 2.87x | 3.30x |
| Buybacks as a share of market value | -1.9% | -3.6% | 5.3% | 2.4% | -2.5% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.7% | 8.3% | -1.5% |
| Operating income | -2.4% | -6.2% | 5.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.1% | 17.7% | 21.6% | 22.9% |
| Operating margin | -11.0% | -1.4% | 4.4% | 8.0% |
| Net margin | -39.5% | -14.6% | -8.1% | -2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.5 | -2.6 | -21.7 | 21.3 | 9.0 | 10.2 | 11.8 | 14.2 | 94.3 | 30.4 |
| Price to sales | 0.6 | 1.1 | 0.6 | 0.6 | 1.0 | 1.0 | 1.5 | 1.3 | 3.0 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.12 | 0.10 | 0.10 | 0.10 | 0.05 | 0.06 | 0.05 |
- 2-for-1 split · 23 Sept 2008
- 3-for-2 split · 13 Sept 2006
- 1-to-1 reverse split · 23 Jan 2006
- 3-for-2 split · 26 Apr 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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