F 
5.01
-2.15%
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¥324.4m
FY2016FY2025
Net income
−CN¥95.1m
FY2016FY2025
Free cash flow
−CN¥42.4m
FY2016FY2025
Shareholders' equity
CN¥927.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥324.4m | CN¥323.1m | CN¥693.2m | CN¥756.6m | CN¥506.3m | CN¥580.8m | CN¥702.2m | CN¥754.8m | CN¥1.19bn | CN¥1.55bn |
| Research and development | CN¥2.0m | CN¥2.4m | CN¥1.0m | CN¥3.4m | CN¥10.3m | — | CN¥13.1m | CN¥23.0m | CN¥11.3m | CN¥33.7m |
| Operating income | — | −CN¥83.7m | CN¥194.5m | CN¥298.3m | CN¥64.1m | CN¥98.7m | −CN¥185.8m | −CN¥1.29bn | CN¥80.5m | CN¥160.1m |
| Net income | −CN¥95.1m | −CN¥85.0m | CN¥190.0m | CN¥268.0m | CN¥54.6m | CN¥36.4m | −CN¥236.0m | −CN¥1.33bn | CN¥40.3m | CN¥122.9m |
| Diluted earnings per share | -0.33 | -0.22 | 0.57 | 0.80 | 0.16 | 0.13 | -0.78 | -3.65 | 0.11 | 0.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.53bn | CN¥1.58bn | CN¥1.67bn | CN¥1.13bn | CN¥1.37bn | CN¥1.52bn | CN¥2.58bn | CN¥2.79bn | CN¥4.16bn | CN¥4.32bn |
| Cash and short-term investments | — | CN¥278.4m | CN¥275.9m | CN¥248.2m | CN¥132.3m | CN¥139.6m | CN¥95.0m | CN¥166.6m | CN¥407.0m | CN¥469.1m |
| Total liabilities | CN¥569.4m | CN¥530.5m | CN¥537.6m | CN¥189.3m | CN¥685.9m | CN¥892.9m | CN¥1.97bn | CN¥1.95bn | CN¥1.95bn | CN¥2.16bn |
| Debt | CN¥23.0m | CN¥71.8m | CN¥191.9m | CN¥430,613 | CN¥523.2m | CN¥740.4m | CN¥1.22bn | CN¥1.31bn | CN¥1.24bn | CN¥1.20bn |
| Shareholders' equity | CN¥927.3m | CN¥1.02bn | CN¥1.10bn | CN¥909.0m | CN¥650.1m | CN¥596.5m | CN¥572.8m | CN¥810.5m | CN¥2.18bn | CN¥2.13bn |
| Shares outstanding | 284m | 383m | 336m | 333m | 343m | 287m | 304m | 365m | 364m | 483m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥17.5m | CN¥117.1m | CN¥349.7m | CN¥442.4m | CN¥164.3m | CN¥43.9m | CN¥70.9m | −CN¥147.0m | CN¥73.8m | CN¥229.3m |
| Capital spending | −CN¥24.9m | −CN¥3.8m | −CN¥528.2m | −CN¥3.5m | −CN¥2.0m | −CN¥2.3m | −CN¥6.9m | −CN¥54.3m | −CN¥116.7m | −CN¥242.9m |
| Free cash flow | −CN¥42.4m | CN¥113.4m | −CN¥178.5m | CN¥439.0m | CN¥162.3m | CN¥41.6m | CN¥64.1m | −CN¥201.2m | −CN¥42.9m | −CN¥13.6m |
| Dividends paid | −CN¥1.6m | −CN¥3.9m | −CN¥2.8m | −CN¥13.8m | −CN¥29.0m | −CN¥60.3m | −CN¥69.5m | −CN¥65.5m | −CN¥69.8m | −CN¥54.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥92.6m | CN¥58.4m | CN¥108.4m | CN¥84.4m | CN¥77.0m | CN¥54.7m | CN¥101.9m | CN¥85.3m |
| Operating income | −CN¥1.2m | −CN¥9.6m | −CN¥7.4m | −CN¥3.9m | CN¥1.5m | −CN¥20.8m | −CN¥46.3m | −CN¥17.3m |
| Net income | −CN¥6.9m | −CN¥12.4m | −CN¥75.3m | −CN¥2.2m | CN¥1.3m | −CN¥18.9m | −CN¥45.9m | −CN¥18.6m |
| Diluted earnings per share | -0.02 | -0.04 | -0.27 | -0.01 | 0.00 | -0.07 | -0.12 | -0.05 |
| Cash from operations | — | — | — | −CN¥19.0m | CN¥25.0m | −CN¥16.0m | CN¥115.0m | CN¥5.0m |
| Capital spending | −CN¥8.0m | −CN¥6.0m | −CN¥19.0m | — | — | −CN¥3.0m | −CN¥1.0m | — |
| Free cash flow | — | — | — | — | — | −CN¥19.0m | CN¥114.0m | — |
| Total assets | CN¥1.48bn | CN¥1.48bn | CN¥1.53bn | CN¥1.47bn | CN¥1.53bn | CN¥1.52bn | CN¥1.58bn | CN¥1.50bn |
| Cash and short-term investments | — | — | — | CN¥215.1m | CN¥260.1m | CN¥235.0m | CN¥278.4m | CN¥155.3m |
| Debt | CN¥23.0m | CN¥23.0m | CN¥23.0m | CN¥31.1m | CN¥49.8m | CN¥49.8m | CN¥69.8m | CN¥69.9m |
| Shareholders' equity | CN¥909.9m | CN¥910.3m | CN¥927.3m | CN¥1.00bn | CN¥1.01bn | CN¥996.2m | CN¥1.02bn | CN¥1.07bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -28.9% | -24.5% | 27.6% | 37.2% | 16.3% | 17.0% | — |
| Net margin | -29.3% | -26.3% | 27.4% | 35.4% | 10.8% | 6.3% | — |
| Return on equity | -10.3% | -8.4% | 17.2% | 29.5% | 8.4% | 6.1% | — |
| Return on assets | -6.2% | -5.4% | 11.4% | 23.8% | 4.0% | 2.4% | — |
| Free cash flow yield | 0.5% | 6.1% | 50.5% | 25.9% | 9.4% | 3.1% | — |
| Revenue growth | 0.4% | -53.4% | -8.4% | 49.4% | -12.8% | -17.3% | — |
| Earnings growth | 11.8% | -144.7% | -29.1% | 390.6% | 50.1% | -115.4% | — |
| Current ratio | 1.57x | 1.90x | 2.58x | 5.43x | 1.51x | 1.27x | — |
| Debt to equity | 0.02x | 0.07x | 0.17x | 0.00x | 0.80x | 1.24x | — |
| Equity ratio | 60.7% | 64.5% | 66.0% | 80.6% | 47.6% | 39.3% | — |
| Interest coverage | -52.70x | -19.67x | 171.24x | 21.34x | 2.87x | 1.45x | — |
| R&D as a share of sales | 0.6% | 0.7% | 0.2% | 0.4% | 2.0% | — | 1.9% |
| Buybacks as a share of market value | 25.8% | -13.9% | -0.7% | 2.9% | -19.7% | 5.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -24.6% | -11.0% | -9.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | -27.8% | 13.2% | 11.6% | -11.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -22.0 | -24.3 | 14.3 | 10.3 | 57.7 | 31.1 | -6.2 | -1.6 | 162.3 | 66.3 |
| Price to sales | 6.5 | 6.4 | 3.9 | 3.6 | 6.2 | 1.9 | 2.1 | 2.9 | 5.5 | 5.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jul 2008.
| FY2008 | FY2004 | FY2001 | FY1999 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.06 | 0.20 | 0.265 |
- 1-to-1 reverse split · 1 Sept 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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