B 
2.54
0.00%
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¥4.48bn
FY2016FY2025
Net income
−CN¥3.65bn
FY2016FY2025
Free cash flow
CN¥553.6m
FY2016FY2025
Shareholders' equity
CN¥6.20bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.48bn | CN¥5.55bn | CN¥8.60bn | CN¥16.54bn | CN¥25.88bn | CN¥14.98bn | CN¥14.07bn | CN¥20.49bn | CN¥20.81bn | CN¥20.78bn |
| Operating income | −CN¥79.0m | −CN¥903.7m | CN¥77.9m | CN¥1.20bn | CN¥1.76bn | CN¥693.5m | CN¥1.37bn | CN¥2.73bn | CN¥2.92bn | CN¥2.03bn |
| Net income | −CN¥3.65bn | −CN¥948.4m | CN¥33.8m | CN¥51.2m | CN¥70.1m | CN¥106.8m | CN¥518.3m | CN¥1.42bn | CN¥1.95bn | CN¥1.01bn |
| Diluted earnings per share | -1.64 | -0.43 | 0.02 | 0.02 | 0.03 | 0.05 | 0.11 | 0.64 | 0.87 | 0.45 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥54.37bn | CN¥59.56bn | CN¥63.70bn | CN¥67.50bn | CN¥75.22bn | CN¥88.22bn | CN¥85.83bn | CN¥74.43bn | CN¥54.15bn | CN¥48.52bn |
| Cash and short-term investments | — | CN¥5.16bn | CN¥6.39bn | CN¥7.34bn | CN¥7.91bn | CN¥9.36bn | CN¥9.03bn | CN¥10.45bn | CN¥7.49bn | CN¥6.88bn |
| Total liabilities | CN¥47.79bn | CN¥49.22bn | CN¥52.18bn | CN¥55.75bn | CN¥61.45bn | CN¥73.60bn | CN¥70.64bn | CN¥61.31bn | CN¥43.28bn | CN¥39.09bn |
| Debt | CN¥22.53bn | CN¥28.92bn | CN¥33.08bn | CN¥31.43bn | CN¥32.23bn | CN¥36.91bn | CN¥42.18bn | CN¥36.00bn | CN¥21.99bn | CN¥21.54bn |
| Shareholders' equity | CN¥6.20bn | CN¥9.83bn | CN¥10.81bn | CN¥10.80bn | CN¥12.52bn | CN¥13.91bn | CN¥14.34bn | CN¥12.69bn | CN¥10.39bn | CN¥8.82bn |
| Shares outstanding | 2,229m | 2,229m | 2,229m | 2,229m | 2,229m | 2,229m | 4,541m | 2,229m | 2,229m | 2,228m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥556.0m | −CN¥1.05bn | −CN¥767.7m | CN¥3.76bn | CN¥6.13bn | CN¥4.17bn | −CN¥4.79bn | −CN¥8.73bn | CN¥1.68bn | CN¥9.15bn |
| Capital spending | −CN¥2.4m | −CN¥85.5m | −CN¥134.8m | −CN¥89.6m | −CN¥147.6m | −CN¥809.1m | −CN¥76.4m | −CN¥56.0m | −CN¥48.0m | −CN¥139.8m |
| Free cash flow | CN¥553.6m | −CN¥1.14bn | −CN¥902.5m | CN¥3.67bn | CN¥5.98bn | CN¥3.36bn | −CN¥4.87bn | −CN¥8.79bn | CN¥1.63bn | CN¥9.01bn |
| Dividends paid | −CN¥1.19bn | −CN¥1.37bn | −CN¥1.44bn | −CN¥33.4m | −CN¥44.6m | −CN¥222.9m | −CN¥445.7m | −CN¥1.76bn | −CN¥1.39bn | −CN¥1.78bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥526.8m | CN¥1.11bn | CN¥668.2m | CN¥1.00bn | CN¥1.54bn | CN¥1.27bn | CN¥1.69bn | CN¥802.9m |
| Operating income | CN¥13.2m | −CN¥19.1m | CN¥100.3m | −CN¥151.5m | CN¥2.6m | −CN¥33.5m | −CN¥926.3m | −CN¥425.2m |
| Net income | −CN¥221.2m | −CN¥234.2m | −CN¥2.96bn | −CN¥294.9m | −CN¥197.7m | −CN¥200.1m | −CN¥572.7m | −CN¥383.9m |
| Diluted earnings per share | -0.10 | -0.11 | -1.33 | -0.13 | -0.09 | -0.09 | -0.26 | -0.17 |
| Cash from operations | — | — | — | −CN¥41.0m | CN¥270.0m | −CN¥47.0m | — | CN¥243.0m |
| Capital spending | — | — | — | −CN¥1.0m | — | — | −CN¥8.0m | −CN¥1.0m |
| Free cash flow | — | — | — | −CN¥42.0m | — | — | — | CN¥242.0m |
| Total assets | CN¥51.83bn | CN¥52.44bn | CN¥54.37bn | CN¥57.70bn | CN¥57.74bn | CN¥58.97bn | CN¥59.56bn | CN¥63.24bn |
| Cash and short-term investments | — | — | — | CN¥5.26bn | CN¥5.00bn | CN¥4.90bn | CN¥5.16bn | CN¥5.34bn |
| Debt | CN¥18.45bn | CN¥22.28bn | CN¥22.53bn | CN¥2.33bn | CN¥30.25bn | CN¥30.79bn | CN¥28.85bn | CN¥30.32bn |
| Shareholders' equity | CN¥5.74bn | CN¥5.96bn | CN¥6.20bn | CN¥9.14bn | CN¥9.44bn | CN¥9.63bn | CN¥9.83bn | CN¥10.43bn |
Financial ratios
Data as of 6 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -56.8% | -16.3% | 0.9% | 6.9% | 6.3% | 5.2% |
| Net margin | -81.6% | -17.1% | 0.4% | 0.3% | 0.3% | 0.7% |
| Return on equity | -59.0% | -9.6% | 0.3% | 0.5% | 0.6% | 0.8% |
| Return on assets | -6.7% | -1.6% | 0.1% | 0.1% | 0.1% | 0.1% |
| Free cash flow yield | 8.0% | -13.9% | -9.1% | 55.3% | 90.2% | 71.6% |
| Revenue growth | -19.4% | -35.5% | -48.0% | -36.1% | 72.7% | 6.5% |
| Earnings growth | 285.3% | -2902.7% | -33.9% | -26.9% | -34.4% | -79.4% |
| Current ratio | 3.23x | 2.75x | 2.41x | 2.19x | 1.58x | 1.52x |
| Debt to equity | 3.63x | 2.93x | 3.05x | 2.90x | 2.16x | 2.19x |
| Equity ratio | 11.4% | 16.5% | 17.0% | 16.0% | 16.7% | 15.8% |
| Interest coverage | -2.79x | -0.91x | 0.08x | 1.37x | 1.96x | 1.18x |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 50.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -35.3% | -21.5% | -9.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.8% | 0.8% | 3.6% | 7.7% |
| Net margin | -45.9% | -12.8% | -5.7% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.4 | -8.7 | 141.6 | 107.1 | 76.0 | 53.2 | 30.8 | 5.5 | 6.0 | 11.7 |
| Price to sales | 1.9 | 1.5 | 0.6 | 0.3 | 0.2 | 0.4 | 1.1 | 0.4 | 0.6 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Jul 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.005 | 0.01 | 0.015 | 0.02 | 0.10 | 0.20 | 0.154 | 0.089 |
- 13-for-10 split · 6 Jun 2018
- 13-for-10 split · 30 Jun 2017
- 11-for-10 split · 12 May 2010
- 13-for-10 split · 18 May 2007
- 1-to-1 reverse split · 22 Dec 2005
- 3-for-2 split · 10 Jun 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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