C 
2.28
-0.44%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.12bn
FY2016FY2025
Net income
−CN¥835.2m
FY2016FY2025
Free cash flow
CN¥138.5m
FY2016FY2025
Shareholders' equity
CN¥2.19bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.12bn | CN¥2.08bn | CN¥2.51bn | CN¥1.77bn | CN¥2.21bn | CN¥1.92bn | CN¥3.22bn | CN¥2.56bn | CN¥2.33bn | CN¥1.88bn |
| Gross profit | CN¥572.6m | CN¥470.7m | CN¥513.4m | CN¥537.5m | CN¥741.3m | CN¥726.8m | CN¥1.57bn | CN¥1.26bn | CN¥1.14bn | CN¥975.2m |
| Research and development | CN¥177.5m | CN¥324.1m | CN¥398.7m | CN¥206.4m | CN¥253.9m | CN¥261.5m | CN¥248.3m | CN¥214.3m | CN¥187.0m | CN¥120.4m |
| Operating income | — | −CN¥647.0m | −CN¥835.2m | −CN¥494.5m | CN¥12.5m | −CN¥80.1m | CN¥550.0m | CN¥444.4m | CN¥1.02bn | CN¥408.4m |
| Net income | −CN¥835.2m | −CN¥545.3m | −CN¥828.3m | −CN¥846.3m | −CN¥1.39bn | −CN¥894.4m | CN¥434.4m | CN¥325.1m | CN¥873.8m | CN¥521.9m |
| Diluted earnings per share | -0.31 | -0.20 | -0.31 | -0.31 | -0.51 | -0.33 | 0.16 | 0.12 | 0.31 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.72bn | CN¥9.96bn | CN¥10.66bn | CN¥11.25bn | CN¥12.38bn | CN¥12.83bn | CN¥12.04bn | CN¥10.47bn | CN¥10.68bn | CN¥8.19bn |
| Cash and short-term investments | — | CN¥822.8m | CN¥447.9m | CN¥584.8m | CN¥1.12bn | CN¥790.7m | CN¥1.31bn | CN¥1.23bn | CN¥1.03bn | CN¥1.16bn |
| Total liabilities | CN¥6.44bn | CN¥6.85bn | CN¥7.00bn | CN¥6.77bn | CN¥7.04bn | CN¥6.16bn | CN¥4.47bn | CN¥3.06bn | CN¥3.49bn | CN¥2.02bn |
| Debt | CN¥1.75bn | CN¥3.58bn | CN¥3.16bn | CN¥3.69bn | CN¥4.51bn | CN¥4.07bn | CN¥2.27bn | CN¥1.08bn | CN¥1.10bn | CN¥384.3m |
| Shareholders' equity | CN¥2.19bn | CN¥3.03bn | CN¥3.55bn | CN¥4.38bn | CN¥5.20bn | CN¥6.54bn | CN¥7.46bn | CN¥7.31bn | CN¥7.11bn | CN¥6.11bn |
| Shares outstanding | 2,716m | 2,756m | 2,672m | 2,773m | 2,749m | 2,694m | 2,659m | 2,765m | 2,810m | 2,549m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥176.8m | CN¥365.0m | CN¥31.1m | CN¥573.3m | CN¥458.8m | CN¥520.0m | CN¥5.3m | −CN¥590.6m | −CN¥53.0m | −CN¥56.1m |
| Capital spending | −CN¥38.3m | −CN¥35.1m | −CN¥160.9m | −CN¥193.7m | −CN¥389.2m | −CN¥217.5m | −CN¥174.7m | −CN¥117.6m | −CN¥57.2m | −CN¥60.3m |
| Free cash flow | CN¥138.5m | CN¥329.9m | −CN¥129.8m | CN¥379.7m | CN¥69.6m | CN¥302.5m | −CN¥169.3m | −CN¥708.2m | −CN¥110.1m | −CN¥116.4m |
| Dividends paid | −CN¥113.0m | −CN¥127.1m | −CN¥161.5m | −CN¥156.9m | −CN¥196.0m | −CN¥27.2m | −CN¥27.6m | −CN¥202.6m | −CN¥51.4m | −CN¥7.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥350.2m | CN¥240.9m | CN¥983.9m | CN¥564.3m | CN¥349.3m | CN¥222.9m | CN¥992.4m | CN¥562.7m |
| Gross profit | CN¥130.4m | CN¥77.9m | CN¥263.9m | CN¥135.9m | CN¥104.1m | CN¥68.8m | CN¥156.7m | CN¥139.0m |
| Operating income | CN¥22.9m | −CN¥30.5m | CN¥39.8m | CN¥18.0m | −CN¥57.7m | −CN¥35.3m | −CN¥421.9m | CN¥12.0m |
| Net income | −CN¥23.0m | −CN¥30.4m | −CN¥748.0m | CN¥7.7m | −CN¥52.3m | −CN¥42.6m | −CN¥365.5m | −CN¥5.3m |
| Diluted earnings per share | -0.01 | -0.01 | -0.28 | 0.00 | -0.02 | -0.02 | -0.13 | -0.00 |
| Cash from operations | — | — | — | CN¥34.0m | −CN¥10.0m | −CN¥53.0m | CN¥487.0m | CN¥59.0m |
| Capital spending | — | −CN¥5.0m | −CN¥28.0m | −CN¥4.0m | −CN¥1.0m | −CN¥4.0m | −CN¥7.0m | −CN¥13.0m |
| Free cash flow | — | — | — | CN¥30.0m | −CN¥11.0m | −CN¥57.0m | CN¥480.0m | CN¥46.0m |
| Total assets | CN¥8.05bn | CN¥8.38bn | CN¥8.72bn | CN¥9.11bn | CN¥9.23bn | CN¥10.00bn | CN¥9.96bn | CN¥10.42bn |
| Cash and short-term investments | — | — | — | CN¥442.4m | CN¥505.9m | CN¥994.1m | CN¥822.8m | CN¥585.7m |
| Debt | CN¥846.1m | CN¥1.44bn | CN¥1.75bn | CN¥1.77bn | CN¥3.20bn | CN¥3.76bn | CN¥3.48bn | CN¥3.40bn |
| Shareholders' equity | CN¥2.13bn | CN¥2.16bn | CN¥2.19bn | CN¥2.93bn | CN¥2.93bn | CN¥2.99bn | CN¥3.03bn | CN¥3.38bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.0% | 22.6% | 20.4% | 30.3% | 33.5% | 37.9% |
| Operating margin | -33.4% | -13.4% | -13.8% | -27.9% | 0.6% | -4.2% |
| Net margin | -39.4% | -26.2% | -33.0% | -47.7% | -63.0% | -46.6% |
| Return on equity | -38.2% | -18.0% | -23.3% | -19.3% | -26.8% | -13.7% |
| Return on assets | -9.6% | -5.5% | -7.8% | -7.5% | -11.3% | -7.0% |
| Free cash flow yield | 3.3% | 6.0% | 3.0% | 11.5% | 12.8% | 11.4% |
| Revenue growth | 1.8% | -17.1% | 41.7% | -19.9% | 15.5% | -40.5% |
| Earnings growth | 53.2% | -34.2% | -2.1% | -39.3% | 55.9% | -305.9% |
| Current ratio | 0.92x | 0.82x | 0.76x | 0.86x | 1.10x | 1.35x |
| Debt to equity | 0.80x | 1.15x | 0.85x | 0.61x | 0.86x | 0.59x |
| Equity ratio | 25.1% | 30.4% | 33.3% | 38.9% | 42.0% | 51.0% |
| Interest coverage | -5.60x | -1.86x | -2.05x | -2.70x | 0.06x | -0.60x |
| R&D as a share of sales | 8.4% | 15.6% | 15.9% | 11.6% | 11.5% | 13.6% |
| Buybacks as a share of market value | 1.4% | -3.1% | 3.7% | -0.9% | -2.1% | -1.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.1% | 2.0% | 5.1% |
| Net income | -0.4% | -1.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.8% | 24.7% | 28.2% | 38.1% |
| Net margin | -32.9% | -36.0% | -42.3% | -12.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.3 | -14.7 | -7.6 | -7.5 | -5.8 | -7.7 | 22.2 | 33.1 | 28.1 | 45.5 |
| Price to sales | 3.6 | 3.8 | 2.5 | 3.6 | 3.6 | 3.6 | 3.0 | 4.2 | 10.6 | 12.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 May 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY1994 | FY1993 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.05 | 0.01 | 0.007 | 0.006 |
- 3-for-1 split · 24 Sept 2015
- 1.45-for-1 split · 13 Mar 2015
- 2-for-1 split · 28 May 2013
- 1-to-1 reverse split · 13 Dec 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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