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2.31
+0.87%
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¥18.75bn
FY2016FY2025
Net income
−CN¥1.88bn
FY2016FY2025
Free cash flow
−CN¥2.28bn
FY2016FY2025
Shareholders' equity
−CN¥1.79bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥18.75bn | CN¥18.67bn | CN¥22.97bn | CN¥23.04bn | CN¥30.88bn | CN¥23.11bn | CN¥20.61bn | CN¥20.11bn | CN¥16.76bn | CN¥9.89bn |
| Research and development | CN¥444.4m | CN¥701.0m | CN¥699.1m | CN¥477.1m | CN¥423.5m | CN¥217.0m | CN¥72.6m | CN¥30.9m | CN¥51.4m | CN¥38.5m |
| Operating income | −CN¥704.9m | −CN¥1.50bn | −CN¥757.2m | −CN¥1.20bn | CN¥1.48bn | CN¥425.8m | CN¥117.3m | CN¥847.9m | CN¥1.10bn | CN¥379.1m |
| Net income | −CN¥1.88bn | −CN¥1.75bn | −CN¥1.16bn | −CN¥1.36bn | CN¥1.18bn | CN¥330.2m | CN¥111.1m | CN¥700.5m | CN¥1.17bn | CN¥37.1m |
| Diluted earnings per share | -1.22 | -1.14 | -0.79 | -0.88 | 0.78 | 0.22 | 0.07 | 0.46 | 0.76 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥27.98bn | CN¥29.82bn | CN¥29.25bn | CN¥29.70bn | CN¥31.17bn | CN¥22.44bn | CN¥19.50bn | CN¥19.32bn | CN¥18.60bn | CN¥11.01bn |
| Cash and short-term investments | — | CN¥1.39bn | CN¥1.69bn | CN¥1.83bn | CN¥1.21bn | CN¥2.41bn | CN¥434.3m | CN¥746.3m | CN¥772.0m | CN¥797.9m |
| Total liabilities | CN¥29.70bn | CN¥29.69bn | CN¥27.41bn | CN¥26.71bn | CN¥26.78bn | CN¥17.94bn | CN¥15.35bn | CN¥15.28bn | CN¥15.26bn | CN¥8.81bn |
| Debt | CN¥1.74bn | CN¥9.85bn | CN¥9.68bn | CN¥10.29bn | CN¥9.63bn | CN¥6.25bn | CN¥5.98bn | CN¥5.97bn | CN¥6.32bn | CN¥5.91bn |
| Shareholders' equity | −CN¥1.79bn | CN¥62.9m | CN¥1.78bn | CN¥2.92bn | CN¥4.27bn | CN¥4.51bn | CN¥4.15bn | CN¥4.04bn | CN¥3.34bn | CN¥2.20bn |
| Shares outstanding | 1,538m | 1,537m | 1,463m | 1,552m | 1,523m | 1,490m | 1,499m | 1,536m | 1,529m | 1,585m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥1.77bn | CN¥1.59bn | −CN¥569.1m | CN¥654.4m | CN¥219.6m | CN¥2.25bn | CN¥484.1m | CN¥972.1m | CN¥2.58bn | CN¥603.6m |
| Capital spending | −CN¥506.7m | −CN¥1.75bn | −CN¥364.3m | −CN¥278.4m | −CN¥446.5m | −CN¥320.6m | −CN¥530.5m | −CN¥311.9m | −CN¥31.4m | −CN¥86.2m |
| Free cash flow | −CN¥2.28bn | −CN¥163.9m | −CN¥933.4m | CN¥376.0m | −CN¥226.9m | CN¥1.93bn | −CN¥46.4m | CN¥660.2m | CN¥2.55bn | CN¥517.4m |
| Dividends paid | −CN¥310.1m | −CN¥368.2m | −CN¥367.8m | −CN¥375.0m | −CN¥365.0m | −CN¥322.5m | −CN¥265.6m | −CN¥268.6m | −CN¥283.1m | −CN¥317.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.07bn | CN¥3.25bn | CN¥4.13bn | CN¥5.88bn | CN¥5.22bn | CN¥3.51bn | CN¥3.85bn | CN¥5.46bn |
| Operating income | CN¥243.4m | −CN¥219.1m | −CN¥693.3m | CN¥133.0m | −CN¥220.7m | −CN¥218.3m | −CN¥540.4m | −CN¥572.8m |
| Net income | −CN¥15.1m | −CN¥327.0m | −CN¥1.31bn | CN¥124.6m | −CN¥326.7m | −CN¥369.9m | −CN¥306.7m | −CN¥725.4m |
| Diluted earnings per share | -0.01 | -0.21 | -0.85 | 0.08 | -0.21 | -0.24 | -0.20 | -0.47 |
| Cash from operations | — | — | — | CN¥774.0m | CN¥350.0m | −CN¥605.0m | −CN¥463.0m | CN¥826.0m |
| Capital spending | −CN¥107.0m | −CN¥83.0m | −CN¥229.0m | −CN¥84.0m | −CN¥20.0m | −CN¥172.0m | −CN¥864.0m | −CN¥155.0m |
| Free cash flow | — | — | — | CN¥690.0m | CN¥330.0m | −CN¥777.0m | −CN¥1.33bn | CN¥671.0m |
| Total assets | CN¥25.81bn | CN¥28.58bn | CN¥27.98bn | CN¥28.95bn | CN¥28.07bn | CN¥30.34bn | CN¥29.82bn | CN¥30.52bn |
| Cash and short-term investments | — | — | — | CN¥1.50bn | CN¥1.16bn | CN¥1.44bn | CN¥1.39bn | CN¥1.82bn |
| Debt | CN¥705.8m | CN¥1.35bn | CN¥1.74bn | CN¥12.27bn | CN¥8.61bn | CN¥9.13bn | CN¥7.69bn | CN¥6.85bn |
| Shareholders' equity | −CN¥516.6m | −CN¥2.10bn | −CN¥1.79bn | −CN¥476.3m | −CN¥590.9m | −CN¥283.0m | CN¥62.9m | CN¥359.1m |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -7.8% | -7.9% | -3.2% | -5.1% | 6.3% | 3.3% |
| Net margin | -10.0% | -9.4% | -5.1% | -5.9% | 3.8% | 1.4% |
| Return on equity | 105.0% | -2786.4% | -65.2% | -46.6% | 27.7% | 7.3% |
| Return on assets | -6.7% | -5.9% | -4.0% | -4.6% | 3.8% | 1.5% |
| Free cash flow yield | -34.7% | 91.7% | -5.9% | 25.4% | 18.5% | 72.9% |
| Revenue growth | 0.4% | -18.7% | -0.3% | -25.4% | 33.6% | 12.1% |
| Earnings growth | 7.2% | 50.7% | -14.6% | -215.3% | 257.7% | 197.1% |
| Current ratio | 0.19x | 0.26x | 0.29x | 0.34x | 0.41x | 0.48x |
| Debt to equity | -0.97x | 122.37x | 4.54x | 2.78x | 1.76x | 0.22x |
| Equity ratio | -6.4% | 0.2% | 6.1% | 9.8% | 13.7% | 20.1% |
| Interest coverage | -2.73x | -2.40x | -1.20x | -2.23x | 3.83x | 1.75x |
| R&D as a share of sales | 2.4% | 3.8% | 3.0% | 2.1% | 1.4% | 0.9% |
| Buybacks as a share of market value | -0.0% | -5.1% | 5.7% | -1.9% | -2.2% | 0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.6% | -4.1% | 5.9% |
| Operating income | -16.2% | — | -11.9% |
| Net income | 11.3% | — | -2.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -5.9% | -5.0% | -1.6% | -1.1% |
| Net margin | -9.7% | -7.4% | -3.4% | -2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.7 | -2.7 | -4.5 | -4.5 | 8.0 | 17.3 | 48.0 | 7.8 | 8.9 | 142.3 |
| Price to sales | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.6 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 May 2014.
| FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.008 | 0.035 | 0.10 | 0.11 | 0.025 | 0.025 | 0.019 | 0.054 |
- 2-for-1 split · 20 Apr 2018
- 13-for-10 split · 15 May 2008
- 1-to-1 reverse split · 17 Feb 2006
- 6-for-5 split · 31 May 2004
- 6-for-5 split · 27 May 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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