H 
3.05
0.00%
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¥1.38bn
FY2016FY2025
Net income
−CN¥1.03bn
FY2016FY2025
Free cash flow
CN¥13.7m
FY2016FY2025
Shareholders' equity
CN¥1.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.38bn | CN¥1.74bn | CN¥1.46bn | CN¥2.35bn | CN¥3.01bn | CN¥2.19bn | CN¥1.47bn | CN¥4.52bn | CN¥4.89bn | CN¥4.44bn |
| Research and development | CN¥98.7m | CN¥150.8m | CN¥183.1m | CN¥228.4m | CN¥281.7m | CN¥290.6m | CN¥356.4m | CN¥291.5m | CN¥121.3m | CN¥66.0m |
| Operating income | −CN¥692.4m | −CN¥927.1m | −CN¥1.61bn | −CN¥1.03bn | −CN¥400.9m | CN¥934.0m | −CN¥2.59bn | −CN¥4.59bn | CN¥457.0m | CN¥773.8m |
| Net income | −CN¥1.03bn | −CN¥1.13bn | −CN¥1.60bn | −CN¥1.22bn | −CN¥223.8m | CN¥611.4m | −CN¥2.59bn | −CN¥4.97bn | CN¥205.0m | CN¥395.7m |
| Diluted earnings per share | -0.37 | -0.41 | -0.58 | -0.44 | -0.08 | 0.22 | -0.94 | -1.80 | 0.07 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.68bn | CN¥5.89bn | CN¥7.35bn | CN¥9.26bn | CN¥11.50bn | CN¥12.13bn | CN¥14.62bn | CN¥19.09bn | CN¥21.02bn | CN¥18.94bn |
| Cash and short-term investments | — | CN¥500.3m | CN¥1.06bn | CN¥2.33bn | CN¥1.56bn | CN¥1.62bn | CN¥3.00bn | CN¥5.28bn | CN¥6.17bn | CN¥8.02bn |
| Total liabilities | CN¥4.56bn | CN¥4.58bn | CN¥4.90bn | CN¥5.20bn | CN¥6.14bn | CN¥6.57bn | CN¥9.68bn | CN¥11.55bn | CN¥8.18bn | CN¥5.85bn |
| Debt | — | CN¥1.56bn | CN¥2.57bn | CN¥3.74bn | CN¥4.40bn | CN¥4.91bn | CN¥7.13bn | CN¥8.86bn | CN¥5.24bn | CN¥4.31bn |
| Shareholders' equity | CN¥1.11bn | CN¥1.30bn | CN¥2.43bn | CN¥4.04bn | CN¥5.25bn | CN¥5.48bn | CN¥4.88bn | CN¥7.47bn | CN¥12.70bn | CN¥12.95bn |
| Shares outstanding | 2,768m | 2,768m | 2,766m | 2,765m | 2,809m | 2,767m | 2,766m | 2,767m | 2,765m | 2,766m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥106.6m | CN¥393.5m | −CN¥475.6m | CN¥1.53bn | CN¥620.8m | CN¥458.4m | −CN¥527.6m | −CN¥1.08bn | CN¥439.5m | −CN¥173.7m |
| Capital spending | −CN¥92.9m | −CN¥92.6m | −CN¥131.3m | −CN¥271.6m | −CN¥390.5m | −CN¥765.6m | −CN¥260.9m | −CN¥1.98bn | −CN¥6.69bn | −CN¥2.38bn |
| Free cash flow | CN¥13.7m | CN¥300.9m | −CN¥606.9m | CN¥1.26bn | CN¥230.3m | −CN¥307.2m | −CN¥788.5m | −CN¥3.07bn | −CN¥6.25bn | −CN¥2.55bn |
| Dividends paid | −CN¥74.0m | −CN¥118.6m | −CN¥146.2m | −CN¥149.7m | −CN¥267.5m | −CN¥338.1m | −CN¥431.2m | −CN¥484.6m | −CN¥622.4m | −CN¥198.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥310.4m | CN¥290.1m | CN¥339.6m | CN¥318.2m | CN¥379.2m | CN¥342.0m | CN¥422.8m | CN¥451.6m |
| Operating income | −CN¥174.0m | −CN¥116.1m | −CN¥175.9m | −CN¥246.6m | −CN¥243.9m | −CN¥190.4m | −CN¥250.3m | −CN¥232.9m |
| Net income | −CN¥227.9m | −CN¥222.1m | −CN¥310.1m | −CN¥245.2m | −CN¥243.5m | −CN¥233.0m | −CN¥281.3m | −CN¥284.6m |
| Diluted earnings per share | -0.08 | -0.08 | -0.11 | -0.09 | -0.09 | -0.08 | -0.10 | -0.10 |
| Cash from operations | — | — | — | CN¥30.0m | −CN¥86.0m | CN¥16.0m | CN¥133.0m | CN¥59.0m |
| Capital spending | −CN¥19.0m | −CN¥17.0m | −CN¥37.0m | −CN¥25.0m | −CN¥11.0m | −CN¥18.0m | −CN¥23.0m | −CN¥29.0m |
| Free cash flow | — | — | — | CN¥5.0m | −CN¥97.0m | −CN¥2.0m | CN¥110.0m | CN¥30.0m |
| Total assets | CN¥5.53bn | CN¥5.48bn | CN¥5.68bn | CN¥5.40bn | CN¥5.22bn | CN¥5.48bn | CN¥5.89bn | CN¥6.40bn |
| Cash and short-term investments | — | — | — | CN¥667.7m | CN¥299.1m | CN¥300.6m | CN¥500.3m | CN¥734.6m |
| Debt | CN¥110.0m | — | — | CN¥2.81bn | CN¥1.26bn | CN¥1.26bn | CN¥1.56bn | CN¥1.72bn |
| Shareholders' equity | CN¥539.7m | CN¥840.0m | CN¥1.11bn | CN¥571.9m | CN¥818.5m | CN¥1.06bn | CN¥1.30bn | CN¥1.58bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -50.2% | -53.3% | -110.5% | -43.7% | -13.3% | 42.6% | — |
| Net margin | -74.8% | -65.0% | -110.2% | -52.0% | -7.4% | 27.9% | — |
| Return on equity | -93.2% | -87.1% | -66.0% | -30.3% | -4.3% | 11.1% | — |
| Return on assets | -18.2% | -19.2% | -21.8% | -13.2% | -1.9% | 5.0% | — |
| Free cash flow yield | 2.2% | 5.3% | -3.7% | 19.5% | 10.8% | 13.2% | — |
| Revenue growth | -20.7% | 19.5% | -38.1% | -22.0% | 37.4% | 48.8% | — |
| Earnings growth | -8.7% | -29.6% | 31.2% | 446.6% | -136.6% | -123.6% | — |
| Current ratio | 0.44x | 0.26x | 0.42x | 0.74x | 0.58x | 0.45x | — |
| Debt to equity | — | 1.21x | 1.25x | 0.82x | 0.81x | 0.90x | 1.20x |
| Equity ratio | 19.5% | 22.0% | 33.1% | 43.6% | 45.7% | 45.2% | — |
| Interest coverage | -4.50x | -4.15x | -7.74x | -4.52x | -1.53x | 2.93x | — |
| R&D as a share of sales | 7.2% | 8.7% | 12.6% | 9.7% | 9.3% | 13.2% | — |
| Buybacks as a share of market value | 0.0% | -0.1% | -0.1% | 1.6% | -1.5% | -0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.3% | -8.9% | -12.8% |
| Operating income | -12.3% | — | — |
| Net income | -5.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -51.9% | -61.4% | -30.7% | -28.7% |
| Net margin | -69.3% | -72.1% | -37.9% | -34.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -13.1 | -11.1 | -6.7 | -4.3 | -30.9 | 13.2 | -2.9 | -1.0 | 66.7 | 66.7 |
| Price to sales | 9.8 | 7.2 | 7.4 | 2.2 | 2.3 | 3.7 | 5.1 | 1.1 | 2.8 | 6.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 May 2018.
| FY2018 | FY2017 | FY2013 | FY2012 | FY2011 | FY1997 | FY1995 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.163 | 0.214 | 0.292 | 0.169 | 0.017 | 0.101 |
- 8-for-5 split · 31 May 2017
- 1.112-for-1 split · 25 Sept 2014
- 1-to-1 reverse split · 25 Mar 2011
- 1-to-1 reverse split · 9 Apr 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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