Y 
2.96
+0.68%
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¥53.51bn
FY2016FY2025
Net income
−CN¥2.55bn
FY2016FY2025
Free cash flow
−CN¥1.10bn
FY2016FY2025
Shareholders' equity
CN¥1.86bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥53.51bn | CN¥67.57bn | CN¥78.64bn | CN¥90.09bn | CN¥91.06bn | CN¥93.20bn | CN¥84.88bn | CN¥70.52bn | CN¥58.59bn | CN¥49.23bn |
| Gross profit | CN¥10.61bn | CN¥13.64bn | CN¥16.50bn | CN¥17.37bn | CN¥16.63bn | CN¥19.47bn | CN¥18.08bn | CN¥15.43bn | CN¥12.04bn | CN¥9.83bn |
| Research and development | CN¥45.5m | CN¥183.0m | CN¥318.3m | CN¥481.9m | CN¥428.1m | — | — | — | — | — |
| Operating income | −CN¥1.93bn | −CN¥1.43bn | −CN¥1.48bn | −CN¥3.30bn | −CN¥4.83bn | CN¥2.28bn | CN¥1.99bn | CN¥745.7m | CN¥1.94bn | CN¥1.45bn |
| Net income | −CN¥2.55bn | −CN¥1.47bn | −CN¥1.33bn | −CN¥2.76bn | −CN¥3.94bn | CN¥1.79bn | CN¥1.56bn | CN¥1.48bn | CN¥1.82bn | CN¥1.24bn |
| Diluted earnings per share | -0.29 | -0.16 | -0.15 | -0.31 | -0.42 | 0.21 | 0.19 | 0.18 | 0.22 | 0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥30.46bn | CN¥42.75bn | CN¥52.05bn | CN¥62.14bn | CN¥71.31bn | CN¥56.16bn | CN¥52.35bn | CN¥39.63bn | CN¥32.87bn | CN¥29.44bn |
| Cash and short-term investments | — | CN¥7.29bn | CN¥6.58bn | CN¥8.51bn | CN¥10.72bn | CN¥12.25bn | CN¥8.15bn | CN¥7.89bn | CN¥6.48bn | CN¥9.54bn |
| Total liabilities | CN¥28.82bn | CN¥38.42bn | CN¥46.12bn | CN¥54.49bn | CN¥60.23bn | CN¥35.76bn | CN¥31.90bn | CN¥20.19bn | CN¥12.46bn | CN¥10.20bn |
| Debt | CN¥818.9m | CN¥20.44bn | CN¥28.10bn | CN¥33.72bn | CN¥38.87bn | CN¥13.89bn | CN¥10.81bn | CN¥3.69bn | — | — |
| Shareholders' equity | CN¥1.86bn | CN¥4.44bn | CN¥5.94bn | CN¥7.47bn | CN¥10.66bn | CN¥19.35bn | CN¥20.11bn | CN¥19.35bn | CN¥19.99bn | CN¥19.20bn |
| Shares outstanding | 8,925m | 8,925m | 8,925m | 8,989m | 9,464m | 8,739m | 8,448m | 8,436m | 8,429m | 7,290m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥645.7m | CN¥2.19bn | CN¥4.57bn | CN¥5.86bn | CN¥5.83bn | CN¥6.14bn | CN¥416.3m | CN¥1.76bn | CN¥2.64bn | CN¥1.93bn |
| Capital spending | −CN¥1.74bn | −CN¥475.3m | −CN¥671.4m | −CN¥1.20bn | −CN¥2.01bn | −CN¥2.09bn | −CN¥3.11bn | −CN¥3.03bn | −CN¥2.26bn | −CN¥1.44bn |
| Free cash flow | −CN¥1.10bn | CN¥1.72bn | CN¥3.90bn | CN¥4.66bn | CN¥3.82bn | CN¥4.05bn | −CN¥2.69bn | −CN¥1.27bn | CN¥385.4m | CN¥488.5m |
| Dividends paid | −CN¥89.5m | −CN¥146.8m | −CN¥181.9m | −CN¥181.5m | −CN¥173.6m | −CN¥1.23bn | −CN¥1.05bn | −CN¥1.48bn | −CN¥1.16bn | −CN¥610.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥10.42bn | CN¥13.37bn | CN¥11.07bn | CN¥12.49bn | CN¥12.47bn | CN¥17.48bn | CN¥13.02bn | CN¥16.77bn |
| Gross profit | CN¥2.31bn | CN¥3.04bn | CN¥1.90bn | CN¥2.48bn | CN¥2.40bn | CN¥3.76bn | CN¥2.27bn | CN¥3.29bn |
| Operating income | CN¥8.1m | CN¥441.3m | −CN¥1.33bn | −CN¥678.3m | −CN¥892.0m | CN¥247.5m | −CN¥1.37bn | −CN¥592.1m |
| Net income | −CN¥33.7m | CN¥286.9m | −CN¥1.84bn | −CN¥469.3m | −CN¥388.1m | CN¥147.6m | −CN¥1.39bn | −CN¥353.2m |
| Diluted earnings per share | -0.00 | 0.03 | -0.21 | -0.05 | -0.04 | 0.02 | -0.16 | -0.04 |
| Cash from operations | — | — | — | −CN¥68.0m | CN¥635.0m | CN¥576.0m | −CN¥1.58bn | CN¥835.0m |
| Capital spending | −CN¥218.0m | −CN¥663.0m | −CN¥699.0m | −CN¥501.0m | −CN¥247.0m | −CN¥292.0m | −CN¥127.0m | −CN¥92.0m |
| Free cash flow | — | — | — | −CN¥569.0m | CN¥388.0m | CN¥284.0m | −CN¥1.71bn | CN¥743.0m |
| Total assets | CN¥27.63bn | CN¥29.05bn | CN¥30.46bn | CN¥31.62bn | CN¥33.96bn | CN¥39.34bn | CN¥42.75bn | CN¥44.88bn |
| Cash and short-term investments | — | — | — | CN¥5.04bn | CN¥6.08bn | CN¥7.01bn | CN¥7.29bn | CN¥8.44bn |
| Debt | CN¥698.8m | CN¥819.4m | CN¥818.9m | CN¥4.85bn | CN¥4.49bn | CN¥5.46bn | CN¥4.94bn | CN¥4.90bn |
| Shareholders' equity | CN¥2.17bn | CN¥2.14bn | CN¥1.86bn | CN¥3.69bn | CN¥4.17bn | CN¥4.56bn | CN¥4.44bn | CN¥5.79bn |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.8% | 20.2% | 21.0% | 19.3% | 18.3% | 20.9% |
| Operating margin | -3.6% | -2.1% | -1.9% | -3.7% | -5.3% | 2.5% |
| Net margin | -4.8% | -2.2% | -1.7% | -3.1% | -4.3% | 1.9% |
| Return on equity | -137.3% | -33.0% | -22.4% | -37.0% | -37.0% | 9.3% |
| Return on assets | -8.4% | -3.4% | -2.6% | -4.4% | -5.5% | 3.2% |
| Free cash flow yield | 8.7% | 9.7% | 19.1% | 25.5% | 26.9% | 30.6% |
| Revenue growth | -20.8% | -14.1% | -12.7% | -1.1% | -2.3% | 9.8% |
| Earnings growth | 74.2% | 10.3% | -51.9% | -29.9% | -319.8% | 14.8% |
| Current ratio | 0.55x | 0.76x | 0.77x | 0.84x | 0.84x | 0.95x |
| Debt to equity | 0.44x | 1.11x | 0.92x | 1.17x | 1.12x | 0.72x |
| Equity ratio | 6.1% | 10.4% | 11.4% | 12.0% | 14.9% | 34.5% |
| Interest coverage | -2.68x | -1.15x | -1.03x | -1.89x | -2.62x | 4.78x |
| R&D as a share of sales | 0.1% | 0.3% | 0.4% | 0.5% | 0.5% | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.7% | 5.0% | -8.3% | -3.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.9% | -10.5% | 2.4% |
| Operating income | -16.3% | — | — |
| Net income | -2.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.0% | 20.1% | 19.9% | 20.3% |
| Operating margin | -2.8% | -2.8% | -2.3% | -0.5% |
| Net margin | -3.3% | -2.8% | -2.2% | -0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.4 | -38.6 | -18.9 | -11.9 | -9.7 | 35.0 | 40.7 | 44.9 | 46.9 | 28.8 |
| Price to sales | 0.8 | 0.8 | 0.3 | 0.4 | 0.4 | 0.7 | 0.8 | 0.9 | 1.4 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.02 | 0.13 | 0.11 | 0.15 | 0.12 | 0.075 | 0.06 |
- 2-for-1 split · 3 Jun 2016
- 2-for-1 split · 14 Apr 2014
- 2-for-1 split · 10 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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