D 
6.21
+5.08%
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¥421.0m
FY2016FY2025
Net income
−CN¥97.3m
FY2016FY2025
Free cash flow
−CN¥174.3m
FY2016FY2025
Shareholders' equity
CN¥157.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥421.0m | CN¥372.2m | CN¥163.3m | CN¥149.5m | CN¥176.3m | CN¥175.8m | CN¥775.8m | CN¥1.09bn | CN¥1.84bn | CN¥1.93bn |
| Gross profit | CN¥74.7m | CN¥53.1m | CN¥43.7m | CN¥32.7m | CN¥44.8m | CN¥42.5m | CN¥58.9m | CN¥2.1m | CN¥367.6m | CN¥206.6m |
| Operating income | −CN¥52.8m | −CN¥64.3m | −CN¥15.4m | −CN¥59.8m | −CN¥265.5m | CN¥170.4m | −CN¥379.9m | −CN¥425.8m | CN¥177.9m | CN¥77.1m |
| Net income | −CN¥97.3m | −CN¥77.6m | −CN¥37.2m | −CN¥50.2m | −CN¥215.9m | CN¥25.8m | −CN¥326.2m | −CN¥414.9m | CN¥13.1m | CN¥133.7m |
| Diluted earnings per share | -0.27 | -0.21 | -0.08 | -0.14 | -0.63 | 0.06 | -0.92 | -1.11 | 0.05 | 0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.01bn | CN¥1.02bn | CN¥956.3m | CN¥969.0m | CN¥1.04bn | CN¥1.34bn | CN¥4.51bn | CN¥5.59bn | CN¥6.04bn | CN¥6.94bn |
| Cash and short-term investments | — | CN¥117.4m | CN¥124.3m | CN¥107.7m | CN¥154.0m | CN¥169.1m | CN¥49.0m | CN¥365.1m | CN¥699.9m | CN¥1.23bn |
| Total liabilities | CN¥941.2m | CN¥845.3m | CN¥681.1m | CN¥648.4m | CN¥659.1m | CN¥667.5m | CN¥3.83bn | CN¥4.55bn | CN¥4.56bn | CN¥5.37bn |
| Debt | — | CN¥50.0m | CN¥362.3m | CN¥324.7m | CN¥308.0m | CN¥331.1m | CN¥643.7m | CN¥1.69bn | CN¥2.22bn | CN¥3.01bn |
| Shareholders' equity | CN¥157.2m | CN¥254.5m | CN¥332.1m | CN¥369.3m | CN¥419.5m | CN¥635.8m | CN¥610.1m | CN¥936.3m | CN¥1.35bn | CN¥1.39bn |
| Shares outstanding | 358m | 378m | 456m | 362m | 342m | 427m | 353m | 372m | 251m | 357m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥170.5m | −CN¥96.9m | −CN¥5.6m | −CN¥40.9m | −CN¥14.1m | −CN¥48.2m | −CN¥7.9m | CN¥57.4m | CN¥58.4m | CN¥209.7m |
| Capital spending | −CN¥3.8m | −CN¥533,915 | −CN¥680,844 | −CN¥2.6m | −CN¥4.9m | −CN¥4.3m | −CN¥3.1m | −CN¥3.7m | −CN¥1.8m | −CN¥25.8m |
| Free cash flow | −CN¥174.3m | −CN¥97.4m | −CN¥6.3m | −CN¥43.5m | −CN¥19.0m | −CN¥52.5m | −CN¥11.1m | CN¥53.7m | CN¥56.6m | CN¥183.9m |
| Dividends paid | −CN¥2.9m | −CN¥2.0m | −CN¥1.6m | −CN¥378,016 | −CN¥14.9m | −CN¥180.2m | −CN¥168.4m | −CN¥173.5m | −CN¥219.2m | −CN¥231.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥92.0m | CN¥113.3m | CN¥162.4m | CN¥81.1m | CN¥83.4m | CN¥94.1m | CN¥247.7m | CN¥49.1m |
| Gross profit | CN¥18.4m | CN¥22.7m | CN¥28.5m | CN¥16.0m | CN¥14.4m | CN¥15.9m | CN¥23.6m | CN¥11.7m |
| Operating income | −CN¥9.3m | −CN¥6.3m | −CN¥26.9m | −CN¥24.2m | −CN¥16.4m | −CN¥7.5m | −CN¥35.3m | −CN¥11.4m |
| Net income | −CN¥18.7m | −CN¥12.6m | −CN¥40.2m | −CN¥22.5m | −CN¥21.6m | −CN¥13.0m | −CN¥36.3m | −CN¥14.9m |
| Diluted earnings per share | -0.05 | -0.04 | -0.11 | -0.06 | -0.06 | -0.04 | -0.10 | -0.04 |
| Cash from operations | — | — | — | −CN¥26.0m | −CN¥145.0m | — | −CN¥47.0m | −CN¥57.0m |
| Capital spending | — | — | −CN¥3.0m | — | — | — | — | — |
| Total assets | CN¥950.3m | CN¥983.4m | CN¥1.01bn | CN¥975.2m | CN¥975.3m | CN¥999.0m | CN¥1.02bn | CN¥1.00bn |
| Cash and short-term investments | — | — | — | CN¥102.2m | CN¥109.9m | CN¥117.4m | CN¥117.4m | CN¥134.5m |
| Debt | CN¥9.8m | — | — | CN¥65.2m | CN¥40.1m | CN¥40.1m | CN¥40.1m | CN¥30.1m |
| Shareholders' equity | CN¥125.8m | CN¥144.6m | CN¥157.2m | CN¥197.4m | CN¥219.9m | CN¥241.5m | CN¥254.5m | CN¥290.8m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 17.8% | 14.3% | 26.8% | 21.9% | 25.4% | 24.2% | — |
| Operating margin | -18.1% | -17.3% | -8.0% | -20.6% | -150.6% | 98.4% | — |
| Net margin | -23.1% | -20.9% | -22.8% | -33.6% | -122.4% | 14.7% | — |
| Return on equity | -61.9% | -30.5% | -11.2% | -13.6% | -51.5% | 4.1% | — |
| Return on assets | -9.7% | -7.6% | -3.9% | -5.2% | -20.8% | 1.9% | — |
| Free cash flow yield | -7.8% | -4.2% | -0.2% | -1.8% | -0.4% | -1.7% | — |
| Revenue growth | 13.1% | 127.9% | 9.3% | -15.2% | 0.3% | -77.3% | — |
| Earnings growth | 25.3% | 108.9% | -25.9% | -76.8% | -938.0% | -107.9% | — |
| Current ratio | 0.38x | 0.42x | 0.39x | 0.38x | 0.46x | 0.59x | — |
| Debt to equity | — | 0.16x | 1.07x | 0.86x | 0.82x | 0.45x | 0.88x |
| Equity ratio | 15.6% | 24.9% | 34.7% | 38.1% | 40.4% | 47.3% | — |
| Interest coverage | -2.05x | -1.95x | -0.45x | -1.06x | -8.82x | 1.03x | — |
| Buybacks as a share of market value | 5.3% | 17.1% | -26.1% | -5.6% | 19.8% | -20.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 41.2% | 19.1% | -17.2% |
| Operating income | -4.1% | — | -17.2% |
| Net income | 24.7% | — | -6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.1% | 18.5% | 20.0% | 13.1% |
| Operating margin | -14.8% | -17.4% | -19.7% | -12.0% |
| Net margin | -22.1% | -23.7% | -31.0% | -12.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -26.2 | -31.9 | -67.8 | -51.8 | -6.8 | 46.4 | -3.9 | -3.5 | 135.7 | 37.6 |
| Price to sales | 6.1 | 6.6 | 15.4 | 17.4 | 8.4 | 6.8 | 1.6 | 1.3 | 1.0 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jul 2017.
| FY2017 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.05 | 0.25 | 0.20 | 0.08 | 0.027 | 0.067 | 0.067 |
- 3-for-2 split · 16 Jun 2011
- 1-to-1 reverse split · 18 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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