T 
8.65
-2.70%
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¥918.7m
FY2016FY2025
Net income
−CN¥552.7m
FY2016FY2025
Free cash flow
−CN¥465.8m
FY2016FY2025
Shareholders' equity
CN¥4.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥918.7m | CN¥1.18bn | CN¥2.40bn | CN¥2.46bn | CN¥2.51bn | CN¥1.86bn | CN¥1.34bn | CN¥1.18bn | CN¥964.9m | CN¥2.78bn |
| Operating income | — | CN¥47.2m | CN¥58.1m | CN¥153.2m | CN¥229.7m | CN¥210.7m | CN¥169.0m | CN¥115.8m | CN¥171.6m | CN¥89.9m |
| Net income | −CN¥552.7m | CN¥12.5m | CN¥62.0m | CN¥117.2m | CN¥118.5m | CN¥111.2m | CN¥106.4m | CN¥104.2m | CN¥82.0m | CN¥74.9m |
| Diluted earnings per share | -0.58 | 0.01 | 0.10 | 0.14 | 0.13 | 0.14 | 0.13 | 0.13 | 0.10 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥10.16bn | CN¥11.82bn | CN¥13.51bn | CN¥13.94bn | CN¥14.59bn | CN¥14.52bn | CN¥13.93bn | CN¥11.87bn | CN¥11.06bn | CN¥9.27bn |
| Cash and short-term investments | — | CN¥1.26bn | CN¥563.7m | CN¥583.4m | CN¥854.3m | CN¥1.29bn | CN¥1.56bn | CN¥366.6m | CN¥1.95bn | CN¥1.51bn |
| Total liabilities | CN¥6.22bn | CN¥7.18bn | CN¥9.83bn | CN¥10.25bn | CN¥10.92bn | CN¥10.94bn | CN¥10.45bn | CN¥8.57bn | CN¥7.85bn | CN¥6.55bn |
| Debt | CN¥2.60bn | CN¥1.57bn | CN¥2.73bn | CN¥5.09bn | CN¥6.32bn | CN¥6.08bn | CN¥6.51bn | CN¥5.68bn | CN¥5.29bn | CN¥4.36bn |
| Shareholders' equity | CN¥4.29bn | CN¥4.85bn | CN¥3.82bn | CN¥3.78bn | CN¥3.69bn | CN¥3.59bn | CN¥3.49bn | CN¥3.31bn | CN¥3.21bn | CN¥2.56bn |
| Shares outstanding | 952m | 1,105m | 639m | 820m | 930m | 805m | 828m | 830m | 804m | 726m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥411.1m | −CN¥356.4m | −CN¥565.8m | CN¥1.02bn | −CN¥265.3m | CN¥774.5m | CN¥364.7m | −CN¥1.03bn | CN¥183.1m | −CN¥79.2m |
| Capital spending | −CN¥54.6m | −CN¥171.5m | −CN¥20.6m | −CN¥94.2m | −CN¥32.1m | −CN¥245.7m | −CN¥230.1m | −CN¥192.6m | −CN¥8.9m | −CN¥19.1m |
| Free cash flow | −CN¥465.8m | −CN¥527.9m | −CN¥586.4m | CN¥929.4m | −CN¥297.4m | CN¥528.8m | CN¥134.6m | −CN¥1.22bn | CN¥174.2m | −CN¥98.3m |
| Dividends paid | −CN¥214.8m | −CN¥293.4m | −CN¥287.0m | −CN¥14.8m | −CN¥8.2m | −CN¥12.3m | −CN¥12.3m | −CN¥390.4m | −CN¥282.7m | −CN¥372.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥155.6m | CN¥65.0m | CN¥82.0m | CN¥94.1m | CN¥207.7m | CN¥534.9m | CN¥959.9m | CN¥72.6m |
| Operating income | CN¥11.1m | −CN¥29.7m | −CN¥57.2m | −CN¥34.7m | −CN¥41.9m | −CN¥24.9m | CN¥231.8m | −CN¥31.1m |
| Net income | −CN¥15.7m | −CN¥53.0m | −CN¥440.2m | −CN¥48.4m | −CN¥29.7m | −CN¥34.4m | CN¥161.6m | −CN¥46.7m |
| Diluted earnings per share | -0.02 | -0.06 | -0.46 | -0.05 | -0.03 | -0.04 | 0.15 | -0.04 |
| Cash from operations | — | — | — | −CN¥33.0m | CN¥34.0m | −CN¥353.0m | — | −CN¥264.0m |
| Capital spending | — | — | — | — | −CN¥57.0m | — | −CN¥171.0m | — |
| Free cash flow | — | — | — | — | −CN¥23.0m | — | — | — |
| Total assets | CN¥10.50bn | CN¥10.20bn | CN¥10.16bn | CN¥10.69bn | CN¥11.06bn | CN¥11.31bn | CN¥11.82bn | CN¥14.59bn |
| Cash and short-term investments | — | — | — | CN¥433.0m | CN¥946.0m | CN¥984.9m | CN¥969.7m | CN¥914.5m |
| Debt | CN¥2.05bn | CN¥2.60bn | CN¥2.60bn | CN¥648.9m | CN¥2.05bn | CN¥1.92bn | CN¥1.57bn | CN¥2.65bn |
| Shareholders' equity | CN¥4.20bn | CN¥4.24bn | CN¥4.29bn | CN¥4.72bn | CN¥4.79bn | CN¥4.81bn | CN¥4.85bn | CN¥4.67bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -56.2% | 4.0% | 2.4% | 6.2% | 9.1% | 11.3% |
| Net margin | -60.2% | 1.1% | 2.6% | 4.8% | 4.7% | 6.0% |
| Return on equity | -12.9% | 0.3% | 1.6% | 3.1% | 3.2% | 3.1% |
| Return on assets | -5.4% | 0.1% | 0.5% | 0.8% | 0.8% | 0.8% |
| Free cash flow yield | -3.9% | -1.7% | -8.8% | 14.1% | -2.6% | 13.1% |
| Revenue growth | -22.3% | -50.6% | -2.5% | -2.3% | 34.9% | 38.7% |
| Earnings growth | -4504.1% | -79.8% | -47.1% | -1.0% | 6.5% | 4.6% |
| Current ratio | 1.99x | 1.61x | 1.41x | 1.54x | 1.92x | 2.16x |
| Debt to equity | 0.61x | 1.02x | 0.71x | 1.30x | 1.71x | 1.54x |
| Equity ratio | 42.3% | 41.0% | 28.3% | 27.1% | 25.3% | 24.7% |
| Interest coverage | -2.99x | 0.38x | 0.39x | 0.82x | 2.02x | 4.04x |
| Buybacks as a share of market value | 13.9% | -72.8% | 22.0% | 11.9% | -15.6% | 2.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -28.0% | -13.2% | 1.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | -25.7% | -5.2% | -1.2% | 1.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.3 | — | 113.0 | 126.9 | 221.9 | 50.5 | 45.1 | 47.8 | 114.6 | 115.7 |
| Price to sales | 12.8 | 10.1 | 2.9 | 6.1 | 10.5 | 3.0 | 3.6 | 4.2 | 9.7 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 2 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.016 | 0.018 | 0.01 | 0.015 | 0.015 | 0.01 |
- 1.269-for-1 split · 7 Mar 2007
- 7-for-5 split · 24 Oct 2002
- 11-for-10 split · 4 Jun 2002
- 6-for-5 split · 4 Jun 2001
- 7-for-5 split · 20 Aug 1997
- 29-for-25 split · 3 Jun 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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