E 
EGing Photovoltaic Technology Co 600537.SS · CNY
Information Technology · Shanghai · 🇨🇳 China
1.99
-2.93%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.93bn
FY2016FY2025
Net income
−CN¥527.8m
FY2016FY2025
Free cash flow
CN¥18.5m
FY2016FY2025
Shareholders' equity
−CN¥79.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.93bn | CN¥3.48bn | CN¥8.10bn | CN¥9.88bn | CN¥4.08bn | CN¥4.10bn | CN¥3.56bn | CN¥3.55bn | CN¥4.14bn | CN¥5.17bn |
| Gross profit | CN¥319.3m | −CN¥415.3m | CN¥542.3m | CN¥492.5m | −CN¥42.0m | CN¥46.7m | CN¥312.2m | CN¥453.7m | CN¥529.6m | CN¥1.07bn |
| Research and development | CN¥20.3m | CN¥38.5m | CN¥79.9m | CN¥82.4m | CN¥85.6m | CN¥119.5m | CN¥112.6m | CN¥119.0m | CN¥133.6m | CN¥179.3m |
| Operating income | −CN¥355.2m | −CN¥2.28bn | CN¥121.3m | CN¥125.2m | −CN¥631.6m | −CN¥595.9m | −CN¥306.9m | CN¥117.0m | CN¥41.3m | CN¥429.6m |
| Net income | −CN¥527.8m | −CN¥2.09bn | CN¥67.6m | CN¥127.3m | −CN¥602.6m | −CN¥652.4m | −CN¥303.0m | CN¥68.6m | CN¥48.7m | CN¥359.2m |
| Diluted earnings per share | -0.43 | -1.82 | 0.08 | 0.12 | -0.50 | -0.53 | -0.45 | 0.05 | 0.04 | 0.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.43bn | CN¥6.15bn | CN¥11.51bn | CN¥11.80bn | CN¥7.96bn | CN¥7.51bn | CN¥6.43bn | CN¥6.68bn | CN¥6.60bn | CN¥7.09bn |
| Cash and short-term investments | — | CN¥1.16bn | CN¥3.28bn | CN¥4.29bn | CN¥3.01bn | CN¥1.99bn | CN¥1.78bn | CN¥1.59bn | CN¥1.67bn | CN¥1.39bn |
| Total liabilities | CN¥4.52bn | CN¥5.65bn | CN¥8.57bn | CN¥8.93bn | CN¥5.29bn | CN¥4.84bn | CN¥3.11bn | CN¥3.03bn | CN¥3.00bn | CN¥4.06bn |
| Debt | CN¥37.8m | CN¥553.5m | CN¥639.0m | CN¥735.0m | CN¥418.2m | CN¥281.0m | CN¥389.9m | CN¥255.6m | CN¥45.5m | CN¥732.3m |
| Shareholders' equity | −CN¥79.8m | CN¥434.6m | CN¥2.52bn | CN¥2.47bn | CN¥2.30bn | CN¥2.67bn | CN¥3.32bn | CN¥3.65bn | CN¥3.60bn | CN¥3.03bn |
| Shares outstanding | 1,216m | 1,148m | 886m | 1,031m | 1,211m | 1,239m | 674m | 1,310m | 1,280m | 1,125m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥122.4m | CN¥32.2m | CN¥34.7m | CN¥373.5m | −CN¥93.9m | CN¥443.6m | −CN¥93.2m | CN¥431.1m | CN¥231.7m | CN¥440.2m |
| Capital spending | −CN¥103.9m | −CN¥170.4m | −CN¥656.0m | −CN¥482.3m | −CN¥733.9m | −CN¥468.0m | −CN¥116.9m | −CN¥271.1m | −CN¥235.2m | −CN¥249.0m |
| Free cash flow | CN¥18.5m | −CN¥138.2m | −CN¥621.2m | −CN¥108.9m | −CN¥827.8m | −CN¥24.4m | −CN¥210.0m | CN¥160.0m | −CN¥3.5m | CN¥191.2m |
| Dividends paid | −CN¥16.5m | −CN¥15.3m | −CN¥15.8m | −CN¥13.6m | −CN¥35.8m | −CN¥29.7m | −CN¥23.5m | −CN¥16.7m | −CN¥185.3m | −CN¥101.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥169.3m | CN¥170.0m | CN¥371.8m | CN¥374.7m | CN¥572.9m | CN¥608.2m | CN¥768.9m | CN¥520.1m |
| Gross profit | −CN¥46.0m | CN¥5.2m | −CN¥418,385 | CN¥47.2m | −CN¥27.9m | CN¥9.0m | −CN¥145.8m | CN¥3.5m |
| Operating income | −CN¥49.6m | −CN¥59.5m | −CN¥60.3m | −CN¥63.8m | −CN¥79.6m | −CN¥31.9m | −CN¥1.74bn | −CN¥80.3m |
| Net income | −CN¥67.0m | −CN¥65.5m | −CN¥314.0m | −CN¥61.2m | −CN¥99.4m | −CN¥53.1m | −CN¥1.52bn | −CN¥102.3m |
| Diluted earnings per share | -0.06 | -0.05 | -0.26 | -0.05 | -0.08 | -0.04 | -1.32 | -0.09 |
| Cash from operations | — | — | — | CN¥33.0m | CN¥123.0m | −CN¥95.0m | — | CN¥155.0m |
| Capital spending | — | −CN¥2.0m | −CN¥59.0m | — | −CN¥19.0m | −CN¥25.0m | −CN¥27.0m | −CN¥39.0m |
| Free cash flow | — | — | — | — | CN¥104.0m | −CN¥120.0m | — | CN¥116.0m |
| Total assets | CN¥3.82bn | CN¥3.96bn | CN¥4.43bn | CN¥5.32bn | CN¥5.87bn | CN¥6.13bn | CN¥6.15bn | CN¥8.10bn |
| Cash and short-term investments | — | — | — | CN¥912.7m | CN¥1.24bn | CN¥1.17bn | CN¥1.16bn | CN¥1.23bn |
| Debt | CN¥162.0m | CN¥58.3m | CN¥37.8m | CN¥832.0m | CN¥303.9m | CN¥496.5m | CN¥493.5m | CN¥440.5m |
| Shareholders' equity | −CN¥212.5m | −CN¥145.3m | −CN¥79.8m | CN¥224.8m | CN¥286.0m | CN¥386.2m | CN¥434.6m | CN¥1.95bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.6% | -11.9% | 6.7% | 5.0% | -1.0% | 1.1% |
| Operating margin | -18.1% | -65.4% | 2.8% | 2.1% | -15.5% | -14.5% |
| Net margin | -27.4% | -60.1% | 0.8% | 1.3% | -14.8% | -15.9% |
| Return on equity | 661.4% | -480.9% | 2.7% | 5.2% | -26.2% | -24.4% |
| Return on assets | -11.9% | -34.0% | 0.6% | 1.1% | -7.6% | -8.7% |
| Free cash flow yield | 10.8% | 10.3% | 45.3% | 48.3% | 30.7% | 42.8% |
| Revenue growth | -44.6% | -57.1% | -18.0% | 141.9% | -0.4% | 15.1% |
| Earnings growth | -74.8% | -3192.5% | -46.9% | -121.1% | -7.6% | 115.3% |
| Current ratio | 0.84x | 0.93x | 0.98x | 1.07x | 1.24x | 0.96x |
| Debt to equity | -0.47x | 1.14x | 0.22x | 0.29x | 0.11x | 0.11x |
| Equity ratio | -1.8% | 7.1% | 21.9% | 20.9% | 28.9% | 35.6% |
| Interest coverage | -2.61x | -15.09x | 2.08x | 2.57x | -17.46x | -21.14x |
| R&D as a share of sales | 1.1% | 1.1% | 1.0% | 0.8% | 2.1% | 2.9% |
| Buybacks as a share of market value | -5.9% | -29.6% | 14.1% | 14.8% | 2.3% | -83.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -42.0% | -14.0% | -8.9% |
| Operating income | — | -9.8% | — |
| Net income | — | -4.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -1.8% | 4.0% | 3.0% | 8.0% |
| Operating margin | -48.7% | -10.2% | -11.4% | -5.9% |
| Net margin | -48.4% | -10.4% | -11.7% | -6.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.6 | -1.7 | 72.2 | 45.2 | -9.5 | -9.6 | -6.9 | 54.0 | 126.5 | 23.3 |
| Price to sales | 2.6 | 1.0 | 0.6 | 0.6 | 1.4 | 1.5 | 0.6 | 1.0 | 1.5 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Jun 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.013 | 0.153 | 0.10 | 0.055 | 0.025 | 0.025 | 0.03 |
- 2-for-1 split · 30 May 2016
- 1-to-1 reverse split · 15 Dec 2005
- 7-for-5 split · 9 Jun 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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