Q 
3.99
+0.76%
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¥4.63bn
FY2016FY2025
Net income
−CN¥359.7m
FY2016FY2025
Free cash flow
−CN¥291.6m
FY2016FY2025
Shareholders' equity
CN¥1.20bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.63bn | CN¥4.33bn | CN¥4.66bn | CN¥3.91bn | CN¥3.92bn | CN¥4.42bn | CN¥4.12bn | CN¥3.75bn | CN¥4.00bn | CN¥4.93bn |
| Research and development | CN¥178.0m | CN¥193.6m | CN¥204.2m | CN¥202.4m | CN¥203.0m | CN¥205.2m | CN¥191.1m | CN¥123.1m | CN¥137.4m | CN¥113.7m |
| Operating income | −CN¥256.1m | −CN¥380.7m | −CN¥215.4m | −CN¥687.5m | −CN¥369.3m | −CN¥70.9m | −CN¥317.7m | CN¥21.5m | CN¥130.2m | CN¥60.9m |
| Net income | −CN¥359.7m | −CN¥355.8m | −CN¥176.1m | −CN¥601.9m | −CN¥320.3m | −CN¥31.2m | −CN¥272.4m | CN¥27.5m | CN¥109.3m | CN¥95.3m |
| Diluted earnings per share | -0.44 | -0.46 | -0.22 | -0.76 | -0.39 | -0.03 | -0.33 | 0.02 | 0.14 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.89bn | CN¥9.12bn | CN¥9.78bn | CN¥9.86bn | CN¥10.84bn | CN¥10.06bn | CN¥9.88bn | CN¥8.97bn | CN¥8.38bn | CN¥7.25bn |
| Cash and short-term investments | — | CN¥877.3m | CN¥1.51bn | CN¥1.35bn | CN¥1.57bn | CN¥1.23bn | CN¥1.39bn | CN¥1.45bn | CN¥586.7m | CN¥1.03bn |
| Total liabilities | CN¥7.56bn | CN¥7.39bn | CN¥7.70bn | CN¥7.48bn | CN¥7.71bn | CN¥6.54bn | CN¥6.25bn | CN¥5.11bn | CN¥5.57bn | CN¥4.55bn |
| Debt | CN¥288.6m | CN¥4.62bn | CN¥5.08bn | CN¥4.83bn | CN¥4.96bn | CN¥4.15bn | CN¥3.65bn | CN¥2.84bn | CN¥3.11bn | CN¥1.60bn |
| Shareholders' equity | CN¥1.20bn | CN¥1.60bn | CN¥2.13bn | CN¥2.39bn | CN¥2.97bn | CN¥3.33bn | CN¥3.39bn | CN¥3.67bn | CN¥2.75bn | CN¥2.64bn |
| Shares outstanding | 824m | 766m | 794m | 794m | 820m | 998m | 819m | 1,358m | 762m | 697m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥143.9m | CN¥12.4m | CN¥280.3m | CN¥336.7m | −CN¥86.6m | CN¥80.9m | −CN¥231.1m | −CN¥229.0m | −CN¥609.0m | CN¥29.4m |
| Capital spending | −CN¥147.7m | −CN¥457.6m | −CN¥242.6m | −CN¥162.3m | −CN¥174.5m | −CN¥511.9m | −CN¥896.2m | −CN¥357.1m | −CN¥1.53bn | −CN¥1.38bn |
| Free cash flow | −CN¥291.6m | −CN¥445.2m | CN¥37.7m | CN¥174.5m | −CN¥261.1m | −CN¥430.9m | −CN¥1.13bn | −CN¥586.1m | −CN¥2.14bn | −CN¥1.35bn |
| Dividends paid | −CN¥122.3m | −CN¥147.0m | −CN¥149.3m | −CN¥8.2m | −CN¥8.2m | −CN¥8.3m | −CN¥8.4m | −CN¥152.0m | −CN¥108.7m | −CN¥63.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.20bn | CN¥6.63bn | CN¥1.14bn | CN¥1.22bn | CN¥1.14bn | CN¥1.13bn | CN¥1.01bn | CN¥1.04bn |
| Operating income | CN¥731.0m | CN¥649.6m | −CN¥34.1m | −CN¥73.0m | −CN¥78.9m | −CN¥99.4m | −CN¥174.8m | −CN¥130.4m |
| Net income | CN¥100.7m | CN¥42.3m | −CN¥99.0m | −CN¥74.4m | −CN¥82.1m | −CN¥104.3m | −CN¥174.8m | −CN¥124.0m |
| Diluted earnings per share | 0.12 | 0.05 | -0.12 | -0.09 | -0.10 | -0.13 | -0.23 | -0.16 |
| Cash from operations | — | — | — | CN¥26.0m | −CN¥156.0m | CN¥23.0m | −CN¥94.0m | CN¥40.0m |
| Capital spending | −CN¥496.0m | −CN¥377.0m | — | −CN¥59.0m | −CN¥133.0m | −CN¥61.0m | −CN¥205.0m | −CN¥50.0m |
| Free cash flow | — | — | — | −CN¥33.0m | −CN¥289.0m | −CN¥38.0m | −CN¥299.0m | −CN¥10.0m |
| Total assets | CN¥36.19bn | CN¥35.31bn | CN¥8.89bn | CN¥9.23bn | CN¥9.23bn | CN¥9.17bn | CN¥9.12bn | CN¥9.25bn |
| Cash and short-term investments | — | — | — | CN¥1.11bn | CN¥1.07bn | CN¥1.04bn | CN¥877.3m | CN¥1.14bn |
| Debt | CN¥4.72bn | CN¥3.33bn | CN¥288.6m | CN¥5.09bn | CN¥4.70bn | CN¥4.86bn | CN¥4.62bn | CN¥4.85bn |
| Shareholders' equity | CN¥6.19bn | CN¥5.29bn | CN¥1.20bn | CN¥1.32bn | CN¥1.40bn | CN¥1.49bn | CN¥1.60bn | CN¥1.73bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -4.2% | -4.5% | -0.3% | -12.8% | -5.1% | 2.2% |
| Net margin | -7.8% | -8.2% | -3.8% | -15.4% | -8.2% | -0.7% |
| Return on equity | -30.0% | -22.3% | -8.3% | -25.1% | -10.8% | -0.9% |
| Return on assets | -4.0% | -3.9% | -1.8% | -6.1% | -3.0% | -0.3% |
| Free cash flow yield | 0.1% | 14.5% | 15.6% | 14.9% | 2.5% | 14.1% |
| Revenue growth | 6.8% | -6.9% | 19.1% | -0.4% | -11.2% | 7.2% |
| Earnings growth | 1.1% | 102.0% | -70.7% | 87.9% | 927.7% | -88.6% |
| Current ratio | 0.42x | 0.55x | 0.67x | 0.62x | 0.76x | 0.81x |
| Debt to equity | 0.24x | 2.90x | 2.38x | 2.02x | 1.60x | 1.25x |
| Equity ratio | 13.5% | 17.5% | 21.8% | 24.3% | 27.4% | 33.1% |
| Interest coverage | -1.30x | -1.06x | -0.06x | -2.67x | -1.16x | 0.58x |
| R&D as a share of sales | 3.8% | 4.5% | 4.4% | 5.2% | 5.2% | 4.6% |
| Buybacks as a share of market value | -7.6% | 3.5% | 0.1% | 3.1% | 17.8% | -21.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.8% | 0.9% | 4.5% |
| Operating income | -28.0% | 29.3% | — |
| Net income | -15.8% | 63.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -7.1% | -8.8% | -7.7% | -4.4% |
| Net margin | -8.0% | -8.5% | -7.1% | -4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.2 | -9.6 | -20.1 | -5.5 | -10.9 | -136.1 | -14.2 | 182.7 | 44.0 | 58.0 |
| Price to sales | 1.2 | 0.8 | 0.8 | 0.8 | 0.9 | 1.0 | 0.9 | 1.3 | 1.2 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 15 Jul 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 |
- 1-to-1 reverse split · 5 Dec 2005
- 9-for-5 split · 4 Apr 2005
- 6-for-5 split · 19 Aug 2003
- 11-for-10 split · 1 Jul 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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