L 
1.52
-1.30%
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¥3.66bn
FY2016FY2025
Net income
−CN¥178.3m
FY2016FY2025
Free cash flow
CN¥2.3m
FY2016FY2025
Shareholders' equity
CN¥647.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.66bn | CN¥4.19bn | CN¥5.14bn | CN¥5.95bn | CN¥7.10bn | CN¥6.90bn | CN¥7.36bn | CN¥7.15bn | CN¥5.80bn | CN¥8.74bn |
| Gross profit | CN¥165.2m | CN¥263.2m | CN¥302.0m | CN¥342.7m | CN¥719.4m | CN¥415.6m | CN¥523.7m | CN¥230.2m | CN¥11.7m | CN¥73.2m |
| Research and development | — | — | — | — | — | — | — | CN¥6.7m | CN¥7.7m | CN¥1.5m |
| Operating income | −CN¥79.3m | CN¥91.6m | −CN¥217.6m | −CN¥47.3m | CN¥217.0m | −CN¥617.0m | −CN¥165.6m | CN¥656.9m | −CN¥545.5m | CN¥316.7m |
| Net income | −CN¥178.3m | CN¥38.6m | −CN¥198.8m | −CN¥172.7m | CN¥41.3m | −CN¥755.6m | −CN¥252.7m | CN¥341.1m | −CN¥570.8m | CN¥66.6m |
| Diluted earnings per share | -0.09 | 0.02 | -0.10 | -0.09 | 0.02 | -0.39 | -0.13 | 0.17 | -0.29 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.83bn | CN¥3.31bn | CN¥3.31bn | CN¥3.79bn | CN¥4.19bn | CN¥5.22bn | CN¥7.36bn | CN¥8.35bn | CN¥9.94bn | CN¥9.65bn |
| Cash and short-term investments | — | CN¥383.0m | CN¥211.2m | CN¥307.7m | CN¥366.3m | CN¥392.8m | CN¥1.40bn | CN¥1.05bn | CN¥1.43bn | CN¥1.41bn |
| Total liabilities | CN¥2.08bn | CN¥2.35bn | CN¥2.37bn | CN¥2.55bn | CN¥2.74bn | CN¥3.54bn | CN¥4.95bn | CN¥5.71bn | CN¥7.54bn | CN¥6.91bn |
| Debt | CN¥718.8m | CN¥1.32bn | CN¥1.41bn | CN¥1.53bn | CN¥1.85bn | CN¥2.44bn | CN¥3.68bn | CN¥3.42bn | CN¥4.98bn | CN¥4.25bn |
| Shareholders' equity | CN¥647.8m | CN¥820.9m | CN¥783.7m | CN¥996.4m | CN¥1.18bn | CN¥1.10bn | CN¥1.88bn | CN¥2.15bn | CN¥1.81bn | CN¥2.39bn |
| Shares outstanding | 1,944m | 1,882m | 1,961m | 1,932m | 1,918m | 1,947m | 1,962m | 1,952m | 1,943m | 1,953m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥65.8m | CN¥73.8m | CN¥66.0m | CN¥138.8m | CN¥429.7m | CN¥396.2m | −CN¥654.2m | CN¥305.0m | −CN¥468.4m | −CN¥480.6m |
| Capital spending | −CN¥63.5m | −CN¥50.3m | −CN¥71.9m | −CN¥88.6m | −CN¥142.4m | −CN¥85.0m | −CN¥118.6m | −CN¥179.8m | −CN¥123.6m | −CN¥276.0m |
| Free cash flow | CN¥2.3m | CN¥23.5m | −CN¥6.0m | CN¥50.2m | CN¥287.3m | CN¥311.2m | −CN¥772.7m | CN¥125.2m | −CN¥592.0m | −CN¥756.6m |
| Dividends paid | −CN¥57.0m | −CN¥71.3m | −CN¥63.8m | −CN¥66.2m | −CN¥127.7m | −CN¥170.5m | −CN¥185.7m | −CN¥231.2m | −CN¥194.8m | −CN¥228.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥663.7m | CN¥733.7m | CN¥963.8m | CN¥914.9m | CN¥1.39bn | CN¥925.5m | CN¥1.09bn | CN¥862.4m |
| Gross profit | CN¥63.2m | CN¥47.7m | CN¥55.3m | CN¥41.0m | CN¥3.8m | CN¥65.0m | CN¥66.4m | CN¥72.5m |
| Operating income | CN¥12.3m | −CN¥5.7m | −CN¥9.4m | −CN¥36.1m | −CN¥61.1m | −CN¥8.4m | CN¥89.8m | −CN¥9.7m |
| Net income | CN¥3.7m | −CN¥22.3m | −CN¥89.3m | −CN¥29.7m | −CN¥47.4m | −CN¥12.0m | CN¥94.8m | −CN¥17.3m |
| Diluted earnings per share | 0.00 | -0.01 | -0.05 | -0.02 | -0.02 | -0.01 | 0.05 | -0.01 |
| Cash from operations | — | — | — | CN¥30.0m | −CN¥65.0m | CN¥74.0m | −CN¥44.0m | CN¥70.0m |
| Capital spending | −CN¥5.0m | −CN¥8.0m | −CN¥28.0m | −CN¥3.0m | −CN¥6.0m | −CN¥25.0m | −CN¥21.0m | −CN¥4.0m |
| Free cash flow | — | — | — | CN¥27.0m | −CN¥71.0m | CN¥49.0m | −CN¥65.0m | CN¥66.0m |
| Total assets | CN¥2.61bn | CN¥2.72bn | CN¥2.83bn | CN¥2.88bn | CN¥2.99bn | CN¥3.11bn | CN¥3.31bn | CN¥3.14bn |
| Cash and short-term investments | — | — | — | CN¥226.5m | CN¥263.4m | CN¥312.6m | CN¥383.0m | CN¥214.0m |
| Debt | CN¥715.1m | CN¥718.8m | CN¥718.8m | CN¥588.7m | CN¥1.10bn | CN¥1.17bn | CN¥1.24bn | CN¥1.15bn |
| Shareholders' equity | CN¥629.2m | CN¥625.5m | CN¥647.8m | CN¥731.0m | CN¥760.7m | CN¥808.9m | CN¥820.9m | CN¥727.4m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 4.5% | 6.3% | 5.9% | 5.8% | 10.1% | 6.0% | — | — | — | — | — | — | — |
| Operating margin | -3.1% | 2.6% | -1.9% | -0.8% | 4.5% | -6.4% | — | — | — | — | — | — | — |
| Net margin | -4.9% | 0.9% | -3.9% | -2.9% | 0.6% | -11.0% | — | — | — | — | — | — | — |
| Return on equity | -27.5% | 4.7% | -25.4% | -17.3% | 3.5% | -68.7% | — | — | — | — | — | — | — |
| Return on assets | -6.3% | 1.2% | -6.0% | -4.6% | 1.0% | -14.5% | — | — | — | — | — | — | — |
| Free cash flow yield | — | 2.4% | 2.1% | 4.4% | 13.8% | 12.6% | -20.6% | — | — | — | — | — | — |
| Revenue growth | -12.7% | -18.4% | -13.6% | -16.2% | 2.9% | -6.3% | — | — | — | — | — | — | — |
| Earnings growth | -562.0% | -119.4% | 15.1% | -517.8% | -105.5% | 199.0% | — | — | — | — | — | — | — |
| Current ratio | 1.16x | 1.24x | 1.16x | 1.24x | 1.34x | 1.07x | — | — | — | — | — | — | — |
| Debt to equity | 1.11x | 1.51x | 1.80x | 1.81x | 1.53x | 1.98x | — | — | — | — | — | — | — |
| Equity ratio | 22.9% | 24.8% | 23.6% | 26.3% | 28.0% | 21.1% | — | — | — | — | — | — | — |
| Interest coverage | -1.76x | 1.38x | -1.18x | -0.53x | 2.84x | -2.54x | — | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -3.3% | 4.1% | -1.5% | -0.7% | 1.5% | 0.7% | — | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.0% | -11.9% | -6.5% |
| Operating income | 18.8% | -33.7% | -6.2% |
| Net income | 1.1% | -25.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.5% | 5.7% | 6.7% | 4.6% |
| Operating margin | 0.2% | -1.3% | -2.0% | -0.8% |
| Net margin | -1.8% | -2.7% | -3.7% | -2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -20.8 | 104.3 | -18.3 | -21.1 | 91.4 | -4.7 | -15.8 | 10.8 | -9.2 | 116.7 |
| Price to sales | 1.0 | 1.0 | 0.7 | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.9 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 May 2001.
| FY2001 | FY1992 | |
|---|---|---|
| Paid in the year | 0.009 | 0.002 |
- 6-for-5 split · 22 Jul 2009
- 9-for-5 split · 1 Jul 2002
- 1.23-for-1 split · 17 May 2001
- 3-for-2 split · 8 Mar 2000
- 17-for-10 split · 5 May 1999
- 6-for-5 split · 3 Jul 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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