T 
2.78
-1.07%
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¥6.10bn
FY2016FY2025
Net income
−CN¥1.30bn
FY2016FY2025
Free cash flow
CN¥540.6m
FY2016FY2025
Shareholders' equity
CN¥1.57bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.10bn | CN¥10.74bn | CN¥11.53bn | CN¥10.55bn | CN¥6.94bn | CN¥5.30bn | CN¥5.59bn | CN¥5.27bn | CN¥3.95bn | CN¥3.73bn |
| Gross profit | CN¥661.7m | CN¥1.46bn | CN¥768.8m | CN¥2.62bn | CN¥1.57bn | CN¥1.06bn | CN¥1.37bn | CN¥1.15bn | CN¥851.0m | CN¥863.9m |
| Operating income | CN¥146.8m | −CN¥169.8m | CN¥71.9m | CN¥1.20bn | CN¥864.1m | CN¥576.7m | CN¥760.0m | CN¥589.1m | CN¥350.7m | CN¥333.7m |
| Net income | −CN¥1.30bn | −CN¥1.02bn | −CN¥390.4m | CN¥700.6m | CN¥376.8m | CN¥328.8m | CN¥424.1m | CN¥420.4m | CN¥254.1m | CN¥230.3m |
| Diluted earnings per share | -1.51 | -1.18 | -0.45 | 0.81 | 0.44 | 0.38 | 0.49 | 0.49 | 0.29 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥22.40bn | CN¥28.34bn | CN¥35.30bn | CN¥40.31bn | CN¥41.27bn | CN¥33.96bn | CN¥28.95bn | CN¥21.73bn | CN¥21.57bn | CN¥19.12bn |
| Cash and short-term investments | — | CN¥3.77bn | CN¥4.91bn | CN¥5.58bn | CN¥7.56bn | CN¥7.21bn | CN¥4.55bn | CN¥2.22bn | CN¥2.94bn | CN¥2.60bn |
| Total liabilities | CN¥20.06bn | CN¥24.56bn | CN¥30.60bn | CN¥35.18bn | CN¥36.73bn | CN¥29.72bn | CN¥24.93bn | CN¥18.31bn | CN¥18.50bn | CN¥16.23bn |
| Debt | CN¥7.28bn | CN¥7.05bn | CN¥12.77bn | CN¥13.01bn | CN¥15.06bn | CN¥13.89bn | CN¥13.48bn | CN¥10.42bn | CN¥10.96bn | CN¥9.73bn |
| Shareholders' equity | CN¥1.57bn | CN¥2.88bn | CN¥3.90bn | CN¥4.39bn | CN¥4.16bn | CN¥3.91bn | CN¥3.69bn | CN¥3.39bn | CN¥3.05bn | CN¥2.86bn |
| Shares outstanding | 864m | 864m | 867m | 864m | 864m | 864m | 864m | 864m | 864m | 864m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥541.0m | −CN¥869.7m | CN¥1.02bn | CN¥1.40bn | CN¥669.4m | CN¥3.88bn | CN¥571.1m | CN¥870.1m | −CN¥140.5m | CN¥1.37bn |
| Capital spending | −CN¥378,396 | −CN¥1.9m | −CN¥2.8m | −CN¥6.8m | −CN¥7.9m | −CN¥6.5m | −CN¥9.5m | −CN¥9.6m | −CN¥28.2m | −CN¥4.4m |
| Free cash flow | CN¥540.6m | −CN¥871.7m | CN¥1.02bn | CN¥1.39bn | CN¥661.5m | CN¥3.87bn | CN¥561.6m | CN¥860.5m | −CN¥168.7m | CN¥1.36bn |
| Dividends paid | −CN¥789.7m | −CN¥895.7m | −CN¥1.15bn | −CN¥113.2m | −CN¥131.3m | −CN¥127.9m | −CN¥126.2m | −CN¥877.0m | −CN¥741.9m | −CN¥827.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥710.7m | CN¥919.6m | CN¥3.22bn | CN¥418.6m | CN¥1.39bn | CN¥1.07bn | CN¥8.15bn | CN¥554.7m |
| Gross profit | CN¥11.8m | CN¥1.1m | CN¥215.1m | CN¥17.6m | CN¥255.0m | CN¥176.7m | CN¥1.05bn | CN¥228.8m |
| Operating income | −CN¥65.7m | −CN¥55.0m | CN¥3.9m | −CN¥44.7m | −CN¥34.5m | −CN¥23.9m | −CN¥471.1m | CN¥181.0m |
| Net income | −CN¥374.5m | −CN¥157.1m | −CN¥1.08bn | −CN¥95.2m | −CN¥62.5m | −CN¥61.8m | −CN¥1.12bn | CN¥129.0m |
| Diluted earnings per share | -0.43 | -0.18 | -1.25 | -0.11 | -0.07 | -0.07 | -1.30 | 0.15 |
| Cash from operations | — | — | — | CN¥207.0m | CN¥520.0m | −CN¥12.0m | — | −CN¥584.0m |
| Total assets | CN¥20.24bn | CN¥20.77bn | CN¥22.40bn | CN¥25.35bn | CN¥26.03bn | CN¥27.30bn | CN¥28.34bn | CN¥37.22bn |
| Cash and short-term investments | — | — | — | CN¥2.29bn | CN¥3.07bn | CN¥3.33bn | CN¥3.77bn | CN¥3.98bn |
| Debt | CN¥5.94bn | CN¥7.81bn | CN¥7.28bn | CN¥4.25bn | CN¥7.68bn | CN¥7.72bn | CN¥7.05bn | CN¥4.75bn |
| Shareholders' equity | CN¥1.04bn | CN¥1.42bn | CN¥1.57bn | CN¥2.66bn | CN¥2.75bn | CN¥2.81bn | CN¥2.88bn | CN¥4.00bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.9% | 13.6% | 6.7% | 24.8% | 22.7% | 20.0% |
| Operating margin | -14.4% | -1.2% | 0.6% | 11.3% | 10.4% | 8.9% |
| Net margin | -21.3% | -9.5% | -3.4% | 6.6% | 5.4% | 6.2% |
| Return on equity | -82.6% | -35.5% | -10.0% | 16.0% | 9.1% | 8.4% |
| Return on assets | -5.8% | -3.6% | -1.1% | 1.7% | 0.9% | 1.0% |
| Free cash flow yield | 20.3% | -32.5% | 38.2% | 52.5% | 25.4% | 145.4% |
| Revenue growth | -43.3% | -6.8% | 9.2% | 52.0% | 30.9% | -5.1% |
| Earnings growth | 27.6% | 161.3% | -155.7% | 85.9% | 14.6% | -22.5% |
| Current ratio | 1.62x | 1.56x | 1.50x | 1.45x | 1.39x | 1.68x |
| Debt to equity | 4.62x | 2.45x | 3.28x | 2.97x | 3.62x | 2.62x |
| Equity ratio | 7.0% | 10.1% | 11.0% | 10.9% | 10.1% | 11.5% |
| Interest coverage | -2.28x | -0.66x | 0.50x | 9.46x | 5.02x | 13.67x |
| Buybacks as a share of market value | 0.0% | 0.4% | -0.4% | -0.1% | 0.1% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.7% | 2.8% | 7.4% |
| Operating income | -50.3% | -23.9% | -3.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.6% | 14.2% | 15.9% | 18.1% |
| Operating margin | -0.1% | 3.2% | 5.2% | 6.8% |
| Net margin | -13.8% | -5.2% | -2.6% | 0.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -2.6 | -8.4 | 4.5 | 7.1 | 8.2 | 7.5 | 7.1 | 14.5 | 19.9 |
| Price to sales | 0.5 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 | 0.6 | 0.6 | 0.9 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Aug 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.119 | 0.131 | 0.152 | 0.148 | 0.146 | 0.089 | 0.08 | 0.08 |
- 6-for-5 split · 17 May 2012
- 1-to-1 reverse split · 11 May 2006
- 6-for-5 split · 24 Jun 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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