M 
2.22
-2.20%
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¥77.52bn
FY2016FY2025
Net income
−CN¥208.8m
FY2016FY2025
Free cash flow
CN¥2.24bn
FY2016FY2025
Shareholders' equity
CN¥24.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥77.52bn | CN¥81.82bn | CN¥98.94bn | CN¥102.15bn | CN¥113.85bn | CN¥81.61bn | CN¥78.26bn | CN¥81.95bn | CN¥73.23bn | CN¥48.28bn |
| Gross profit | CN¥3.76bn | −CN¥1.69bn | CN¥557.6m | CN¥1.71bn | CN¥10.14bn | CN¥6.94bn | CN¥6.59bn | CN¥11.35bn | CN¥9.49bn | CN¥4.69bn |
| Research and development | CN¥1.06bn | CN¥1.10bn | CN¥1.23bn | CN¥1.17bn | CN¥1.15bn | CN¥1.81bn | CN¥846.5m | CN¥801.2m | CN¥255.0m | CN¥57.4m |
| Operating income | CN¥708.3m | −CN¥4.32bn | −CN¥1.68bn | −CN¥1.04bn | CN¥7.37bn | CN¥3.03bn | CN¥2.57bn | CN¥7.56bn | CN¥6.57bn | CN¥1.82bn |
| Net income | −CN¥208.8m | −CN¥4.66bn | −CN¥1.33bn | −CN¥857.6m | CN¥5.33bn | CN¥1.98bn | CN¥1.13bn | CN¥5.94bn | CN¥4.13bn | CN¥1.23bn |
| Diluted earnings per share | -0.03 | -0.60 | -0.17 | -0.11 | 0.68 | 0.26 | 0.15 | 0.77 | 0.54 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥81.85bn | CN¥78.96bn | CN¥84.55bn | CN¥96.89bn | CN¥91.21bn | CN¥80.71bn | CN¥86.32bn | CN¥76.87bn | CN¥72.19bn | CN¥66.25bn |
| Cash and short-term investments | CN¥11.77bn | CN¥6.43bn | CN¥5.57bn | CN¥7.16bn | CN¥12.40bn | CN¥7.38bn | CN¥11.64bn | CN¥11.85bn | CN¥6.52bn | CN¥5.87bn |
| Total liabilities | CN¥44.81bn | CN¥51.64bn | CN¥52.27bn | CN¥63.56bn | CN¥53.80bn | CN¥48.10bn | CN¥55.48bn | CN¥44.88bn | CN¥44.95bn | CN¥44.17bn |
| Debt | CN¥26.97bn | CN¥17.17bn | CN¥16.59bn | CN¥20.21bn | CN¥17.26bn | CN¥19.29bn | CN¥20.22bn | CN¥18.02bn | CN¥17.04bn | CN¥19.90bn |
| Shareholders' equity | CN¥24.03bn | CN¥23.26bn | CN¥27.77bn | CN¥29.19bn | CN¥32.75bn | CN¥28.39bn | CN¥26.93bn | CN¥28.17bn | CN¥23.90bn | CN¥19.76bn |
| Shares outstanding | 7,701m | 7,702m | 7,701m | 7,701m | 7,834m | 7,703m | 7,689m | 7,702m | 7,700m | 7,705m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.23bn | CN¥960.9m | CN¥1.99bn | CN¥6.64bn | CN¥16.77bn | CN¥2.77bn | CN¥7.87bn | CN¥13.87bn | CN¥4.49bn | CN¥4.62bn |
| Capital spending | −CN¥1.99bn | −CN¥1.68bn | −CN¥6.40bn | −CN¥8.34bn | −CN¥7.59bn | −CN¥7.03bn | −CN¥4.85bn | −CN¥2.57bn | −CN¥1.48bn | −CN¥2.13bn |
| Free cash flow | CN¥2.24bn | −CN¥721.5m | −CN¥4.41bn | −CN¥1.70bn | CN¥9.19bn | −CN¥4.26bn | CN¥3.01bn | CN¥11.30bn | CN¥3.01bn | CN¥2.49bn |
| Dividends paid | −CN¥449.8m | −CN¥582.6m | −CN¥676.7m | −CN¥2.72bn | −CN¥1.00bn | −CN¥616.1m | −CN¥2.39bn | −CN¥2.57bn | −CN¥928.5m | −CN¥962.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥19.51bn | CN¥17.72bn | CN¥19.95bn | CN¥19.50bn | CN¥18.65bn | CN¥19.42bn | CN¥20.30bn | CN¥18.51bn |
| Gross profit | CN¥1.24bn | CN¥549.7m | CN¥1.13bn | CN¥1.10bn | CN¥968.2m | CN¥525.1m | −CN¥1.47bn | −CN¥737.3m |
| Operating income | CN¥586.9m | CN¥39.9m | −CN¥210.2m | CN¥412.6m | CN¥187.6m | −CN¥75.0m | −CN¥2.16bn | −CN¥1.32bn |
| Net income | −CN¥112.3m | CN¥42.4m | −CN¥292.4m | CN¥158.4m | CN¥69.3m | −CN¥144.1m | −CN¥2.12bn | −CN¥1.39bn |
| Diluted earnings per share | -0.01 | 0.01 | -0.04 | 0.02 | 0.01 | -0.02 | -0.28 | -0.18 |
| Cash from operations | — | — | −CN¥142.0m | CN¥3.38bn | CN¥676.0m | CN¥264.0m | −CN¥1.59bn | CN¥1.44bn |
| Capital spending | −CN¥573.0m | −CN¥429.0m | −CN¥443.0m | −CN¥105.0m | −CN¥897.0m | −CN¥542.0m | −CN¥726.0m | −CN¥162.0m |
| Free cash flow | — | — | −CN¥585.0m | CN¥3.27bn | −CN¥221.0m | −CN¥278.0m | −CN¥2.31bn | CN¥1.28bn |
| Total assets | CN¥80.78bn | CN¥81.52bn | CN¥81.85bn | CN¥83.20bn | CN¥82.32bn | CN¥78.53bn | CN¥78.96bn | CN¥81.39bn |
| Cash and short-term investments | — | — | CN¥11.77bn | CN¥10.39bn | CN¥8.44bn | CN¥6.94bn | CN¥6.43bn | CN¥6.91bn |
| Debt | CN¥1.37bn | CN¥1.54bn | CN¥26.63bn | CN¥26.33bn | CN¥18.79bn | CN¥22.87bn | CN¥16.83bn | CN¥30.27bn |
| Shareholders' equity | CN¥23.96bn | CN¥24.07bn | CN¥24.03bn | CN¥24.06bn | CN¥23.90bn | CN¥23.12bn | CN¥23.26bn | CN¥25.23bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 4.9% | -2.1% | 0.6% | 1.7% | 8.9% | 8.5% |
| Operating margin | 0.9% | -5.3% | -1.7% | -1.0% | 6.5% | 3.7% |
| Net margin | -0.3% | -5.7% | -1.3% | -0.8% | 4.7% | 2.4% |
| Return on equity | -0.9% | -20.0% | -4.8% | -2.9% | 16.3% | 7.0% |
| Return on assets | -0.3% | -5.9% | -1.6% | -0.9% | 5.8% | 2.5% |
| Free cash flow yield | 32.4% | 13.8% | 43.8% | 78.1% | 124.9% | 51.1% |
| Revenue growth | -5.2% | -17.3% | -3.1% | -10.3% | 39.5% | 4.3% |
| Earnings growth | -95.5% | 251.1% | 54.8% | -116.1% | 168.9% | 75.7% |
| Current ratio | 0.60x | 0.43x | 0.50x | 0.73x | 0.92x | 0.87x |
| Debt to equity | 1.11x | 0.72x | 0.74x | 1.17x | 0.91x | 1.02x |
| Equity ratio | 29.4% | 29.5% | 32.8% | 30.1% | 35.9% | 35.2% |
| Interest coverage | 1.47x | -7.08x | -3.22x | -2.21x | 10.98x | 4.57x |
| R&D as a share of sales | 1.4% | 1.3% | 1.2% | 1.1% | 1.0% | 2.2% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | 1.7% | -1.7% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.8% | -1.0% | 5.6% |
| Operating income | — | -25.2% | — |
| Net income | -37.6% | — | -26.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 1.3% | 1.2% | 3.9% | 5.8% |
| Operating margin | -2.3% | -1.8% | 0.7% | 2.0% |
| Net margin | -3.1% | -2.0% | 0.0% | 0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -155.3 | -5.1 | -15.8 | -25.2 | 5.4 | 10.3 | 20.9 | 4.5 | 7.7 | 17.8 |
| Price to sales | 0.4 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jul 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.35 | 0.13 | 0.08 | 0.31 | 0.215 | 0.05 | 0.04 |
- 1-to-1 reverse split · 31 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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