W 
11.68
+1.65%
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¥31.25bn
FY2016FY2025
Net income
−CN¥8.75bn
FY2016FY2025
Free cash flow
CN¥3.87bn
FY2016FY2025
Shareholders' equity
CN¥24.90bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥31.25bn | CN¥73.60bn | CN¥61.21bn | CN¥58.08bn | CN¥52.73bn | CN¥51.71bn | CN¥41.58bn | CN¥17.34bn | CN¥16.92bn | CN¥13.42bn |
| Gross profit | CN¥5.69bn | CN¥6.90bn | CN¥9.66bn | CN¥10.23bn | CN¥8.42bn | CN¥7.44bn | CN¥4.21bn | CN¥1.47bn | CN¥1.47bn | CN¥1.05bn |
| Research and development | CN¥1.66bn | CN¥2.96bn | CN¥3.06bn | CN¥3.39bn | CN¥2.69bn | CN¥2.22bn | CN¥1.32bn | CN¥732.1m | CN¥556.9m | CN¥358.9m |
| Operating income | CN¥1.79bn | CN¥970.3m | CN¥1.99bn | CN¥2.11bn | CN¥3.41bn | CN¥2.68bn | CN¥1.54bn | CN¥69.1m | CN¥380.6m | CN¥238.4m |
| Net income | −CN¥8.75bn | −CN¥2.83bn | CN¥1.18bn | CN¥1.46bn | CN¥2.61bn | CN¥2.42bn | CN¥1.25bn | CN¥61.0m | CN¥329.4m | CN¥48.0m |
| Diluted earnings per share | -7.15 | -2.28 | 0.95 | 1.17 | 2.11 | 2.04 | 1.95 | 0.08 | 0.52 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥41.94bn | CN¥74.98bn | CN¥76.97bn | CN¥76.69bn | CN¥72.58bn | CN¥59.89bn | CN¥65.13bn | CN¥16.94bn | CN¥10.92bn | CN¥12.88bn |
| Cash and short-term investments | — | CN¥9.60bn | CN¥7.35bn | CN¥9.54bn | CN¥13.20bn | CN¥10.08bn | CN¥9.21bn | CN¥1.90bn | CN¥936.0m | CN¥477.8m |
| Total liabilities | CN¥16.60bn | CN¥40.14bn | CN¥39.30bn | CN¥40.08bn | CN¥38.06bn | CN¥30.82bn | CN¥43.71bn | CN¥13.21bn | CN¥7.25bn | CN¥7.77bn |
| Debt | — | CN¥18.77bn | CN¥18.37bn | CN¥21.97bn | CN¥16.83bn | CN¥14.85bn | CN¥22.44bn | CN¥4.49bn | CN¥3.74bn | CN¥3.38bn |
| Shareholders' equity | CN¥24.90bn | CN¥34.37bn | CN¥37.17bn | CN¥35.90bn | CN¥33.70bn | CN¥29.06bn | CN¥21.19bn | CN¥3.59bn | CN¥3.54bn | CN¥4.33bn |
| Shares outstanding | 1,223m | 1,240m | 1,243m | 1,246m | 1,239m | 1,186m | 643m | 792m | 629m | 828m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.89bn | CN¥4.49bn | CN¥5.82bn | CN¥1.66bn | CN¥1.75bn | CN¥6.61bn | CN¥4.62bn | CN¥3.27bn | CN¥1.39bn | CN¥290.6m |
| Capital spending | −CN¥2.02bn | −CN¥3.05bn | −CN¥4.89bn | −CN¥6.93bn | −CN¥5.09bn | −CN¥2.22bn | −CN¥965.4m | −CN¥179.6m | −CN¥189.5m | −CN¥285.5m |
| Free cash flow | CN¥3.87bn | CN¥1.44bn | CN¥931.8m | −CN¥5.26bn | −CN¥3.34bn | CN¥4.39bn | CN¥3.65bn | CN¥3.09bn | CN¥1.20bn | CN¥5.1m |
| Dividends paid | −CN¥169.2m | −CN¥374.0m | −CN¥302.1m | −CN¥447.7m | −CN¥205.4m | −CN¥168.6m | −CN¥403.2m | −CN¥180.5m | −CN¥40.7m | −CN¥68.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥697.9m | CN¥816.4m | CN¥1.48bn | CN¥4.43bn | CN¥12.24bn | CN¥13.10bn | CN¥20.44bn | CN¥19.57bn |
| Gross profit | CN¥162.1m | CN¥227.4m | CN¥630.2m | CN¥1.57bn | CN¥1.66bn | CN¥1.83bn | CN¥1.58bn | CN¥2.17bn |
| Operating income | −CN¥99.8m | −CN¥9.9m | CN¥185.0m | CN¥639.6m | CN¥393.9m | CN¥474.9m | −CN¥138.8m | CN¥601.9m |
| Net income | −CN¥216.9m | −CN¥189.3m | −CN¥10.26bn | CN¥1.04bn | CN¥212.3m | CN¥261.4m | −CN¥3.25bn | CN¥274.1m |
| Diluted earnings per share | -0.18 | -0.15 | -8.39 | 0.85 | 0.17 | 0.21 | -2.62 | 0.22 |
| Cash from operations | — | — | — | CN¥1.20bn | CN¥1.74bn | CN¥2.52bn | CN¥985.0m | CN¥918.0m |
| Capital spending | −CN¥40.0m | −CN¥17.0m | −CN¥48.0m | −CN¥485.0m | −CN¥840.0m | −CN¥641.0m | −CN¥766.0m | −CN¥670.0m |
| Free cash flow | — | — | — | CN¥714.0m | CN¥897.0m | CN¥1.88bn | CN¥219.0m | CN¥248.0m |
| Total assets | CN¥40.79bn | CN¥40.94bn | CN¥41.94bn | CN¥54.38bn | CN¥66.03bn | CN¥70.74bn | CN¥74.98bn | CN¥78.14bn |
| Cash and short-term investments | — | — | — | CN¥6.46bn | CN¥3.92bn | CN¥10.71bn | CN¥9.60bn | CN¥8.65bn |
| Debt | CN¥8.21bn | CN¥8.69bn | CN¥8.61bn | CN¥265.5m | CN¥8.86bn | CN¥14.18bn | CN¥18.13bn | CN¥17.23bn |
| Shareholders' equity | CN¥24.41bn | CN¥24.41bn | CN¥24.90bn | CN¥35.50bn | CN¥34.64bn | CN¥34.56bn | CN¥34.37bn | CN¥37.53bn |
Financial ratios
Data as of 19 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.2% | 9.4% | 15.8% | 17.6% | 16.0% | 14.4% |
| Operating margin | 5.7% | 1.3% | 3.2% | 3.6% | 6.5% | 5.2% |
| Net margin | -28.0% | -3.8% | 1.9% | 2.5% | 5.0% | 4.7% |
| Return on equity | -35.1% | -8.2% | 3.2% | 4.1% | 7.7% | 8.3% |
| Return on assets | -20.9% | -3.8% | 1.5% | 1.9% | 3.6% | 4.0% |
| Free cash flow yield | 38.6% | 36.3% | 51.5% | 41.2% | 33.0% | 44.5% |
| Revenue growth | -57.5% | 20.2% | 5.4% | 10.1% | 2.0% | 24.4% |
| Earnings growth | 208.8% | -339.8% | -19.0% | -44.2% | 8.1% | 92.7% |
| Current ratio | 1.22x | 1.12x | 1.08x | 1.12x | 1.28x | 1.16x |
| Debt to equity | 0.35x | 0.53x | 0.47x | 0.50x | 0.44x | 0.31x |
| Equity ratio | 59.4% | 45.8% | 48.3% | 46.8% | 46.4% | 48.5% |
| Interest coverage | 3.29x | 1.38x | 2.56x | 2.70x | 6.03x | 4.06x |
| R&D as a share of sales | 5.3% | 4.0% | 5.0% | 5.8% | 5.1% | 4.3% |
| Buybacks as a share of market value | 1.4% | 0.2% | 0.3% | -0.6% | -4.5% | -84.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.7% | -9.6% | 45.9% |
| Operating income | -5.3% | -7.7% | — |
| Net income | — | — | 50.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.0% | 14.5% | 14.7% | 13.5% |
| Operating margin | 2.6% | 3.1% | 3.9% | 3.6% |
| Net margin | -11.0% | -4.0% | -1.2% | -0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.2 | -17.0 | 44.5 | 44.9 | 61.4 | 48.6 | 47.4 | 274.3 | 64.4 | 369.4 |
| Price to sales | 1.5 | 0.7 | 0.9 | 1.1 | 3.0 | 2.3 | 1.4 | 1.0 | 1.3 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Aug 2024.
| FY2024 | FY2022 | FY2021 | FY2020 | FY2018 | |
|---|---|---|---|---|---|
| Paid in the year | 0.125 | 0.204 | 0.165 | 0.15 | 0.02 |
- 1-to-1 reverse split · 8 Jul 2008
- 2-for-1 split · 3 Apr 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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