C 
3.31
-1.19%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥799.4m
FY2016FY2025
Net income
CN¥28.0m
FY2016FY2025
Free cash flow
−CN¥130.4m
FY2016FY2025
Shareholders' equity
CN¥897.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥799.4m | CN¥653.3m | CN¥582.1m | CN¥306.5m | CN¥939.9m | CN¥1.61bn | CN¥6.04bn | CN¥8.18bn | CN¥8.05bn | CN¥6.64bn |
| Gross profit | CN¥147.2m | CN¥147.0m | CN¥122.2m | CN¥45.6m | CN¥158.7m | CN¥292.1m | CN¥1.23bn | CN¥1.48bn | CN¥1.44bn | CN¥1.20bn |
| Research and development | — | CN¥392,284 | CN¥360,512 | CN¥763,415 | CN¥12.4m | CN¥33.3m | CN¥15.7m | CN¥17.6m | CN¥20.5m | CN¥6.3m |
| Operating income | CN¥102.7m | −CN¥55.2m | CN¥539.5m | −CN¥303.9m | −CN¥409.7m | −CN¥367.7m | CN¥205.5m | CN¥302.3m | CN¥483.1m | CN¥354.9m |
| Net income | CN¥28.0m | −CN¥103.0m | CN¥607.4m | −CN¥1.04bn | −CN¥689.8m | −CN¥698.3m | CN¥125.6m | CN¥194.1m | CN¥220.7m | CN¥212.6m |
| Diluted earnings per share | 0.02 | -0.06 | 0.48 | -1.29 | -0.86 | -0.87 | 0.16 | 0.24 | 0.27 | 0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.93bn | CN¥1.84bn | CN¥2.36bn | CN¥2.47bn | CN¥3.43bn | CN¥4.45bn | CN¥6.51bn | CN¥6.10bn | CN¥6.08bn | CN¥5.40bn |
| Cash and short-term investments | — | CN¥770.9m | CN¥455.9m | CN¥61.1m | CN¥435.9m | CN¥709.0m | CN¥843.6m | CN¥1.53bn | CN¥2.42bn | CN¥1.47bn |
| Total liabilities | CN¥875.7m | CN¥984.9m | CN¥1.22bn | CN¥3.13bn | CN¥2.99bn | CN¥3.15bn | CN¥3.93bn | CN¥3.71bn | CN¥3.89bn | CN¥3.34bn |
| Debt | CN¥140.9m | CN¥215.4m | CN¥248.8m | CN¥1.49bn | CN¥1.49bn | CN¥1.47bn | CN¥1.40bn | CN¥1.46bn | CN¥1.57bn | CN¥1.49bn |
| Shareholders' equity | CN¥897.9m | CN¥747.6m | CN¥1.03bn | −CN¥904.9m | CN¥135.2m | CN¥942.7m | CN¥2.39bn | CN¥2.22bn | CN¥2.01bn | CN¥1.87bn |
| Shares outstanding | 1,604m | 1,592m | 1,253m | 802m | 806m | 802m | 803m | 821m | 803m | 803m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥94.3m | −CN¥177.1m | CN¥392.6m | −CN¥383.4m | −CN¥84.7m | CN¥308.1m | −CN¥404.9m | CN¥226.1m | CN¥497.6m | CN¥323.1m |
| Capital spending | −CN¥36.1m | −CN¥3.9m | −CN¥3.1m | −CN¥8.4m | −CN¥16.0m | −CN¥19.1m | −CN¥77.6m | −CN¥62.0m | −CN¥126.0m | −CN¥92.4m |
| Free cash flow | −CN¥130.4m | −CN¥181.0m | CN¥389.5m | −CN¥391.8m | −CN¥100.7m | CN¥288.9m | −CN¥482.6m | CN¥164.1m | CN¥371.6m | CN¥230.6m |
| Dividends paid | −CN¥5.7m | −CN¥7.6m | −CN¥3.0m | −CN¥14.9m | −CN¥79.9m | −CN¥5.2m | −CN¥107.9m | −CN¥101.3m | −CN¥144.5m | −CN¥49.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥238.6m | CN¥196.1m | CN¥258.7m | CN¥223.6m | CN¥176.4m | CN¥140.6m | CN¥145.8m | CN¥186.6m |
| Gross profit | CN¥30.6m | CN¥42.4m | CN¥25.2m | CN¥52.0m | CN¥35.2m | CN¥34.8m | CN¥35.2m | CN¥40.0m |
| Operating income | −CN¥26.7m | −CN¥10.2m | −CN¥49.3m | CN¥18.8m | −CN¥19.0m | −CN¥3.7m | −CN¥19.8m | CN¥2.1m |
| Net income | −CN¥13.8m | CN¥2.8m | CN¥54.8m | −CN¥2.5m | −CN¥19.7m | −CN¥4.5m | −CN¥84.9m | −CN¥1.3m |
| Diluted earnings per share | -0.01 | 0.00 | 0.03 | -0.00 | -0.01 | -0.00 | -0.05 | -0.00 |
| Cash from operations | — | — | — | −CN¥100.0m | CN¥16.0m | −CN¥40.0m | — | −CN¥14.0m |
| Capital spending | −CN¥15.0m | −CN¥49.0m | −CN¥21.0m | −CN¥10.0m | −CN¥2.0m | — | −CN¥1.0m | — |
| Free cash flow | — | — | — | −CN¥110.0m | CN¥14.0m | — | — | — |
| Total assets | CN¥1.98bn | CN¥1.95bn | CN¥1.93bn | CN¥1.93bn | CN¥1.94bn | CN¥1.94bn | CN¥1.84bn | CN¥1.99bn |
| Cash and short-term investments | — | — | — | CN¥731.4m | CN¥855.9m | CN¥840.8m | CN¥770.9m | CN¥853.9m |
| Debt | CN¥181.9m | CN¥173.1m | CN¥140.9m | CN¥63.1m | CN¥170.0m | CN¥190.9m | CN¥192.2m | CN¥200.2m |
| Shareholders' equity | CN¥885.3m | CN¥908.3m | CN¥897.9m | CN¥829.2m | CN¥828.0m | CN¥862.7m | CN¥747.6m | CN¥858.7m |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 18.4% | 22.5% | 21.0% | 14.9% | 16.9% | 18.1% | — |
| Operating margin | 14.2% | -5.9% | -13.9% | -99.1% | -43.6% | -22.8% | — |
| Net margin | 3.5% | -15.8% | 104.4% | -337.7% | -73.4% | -43.2% | — |
| Return on equity | 3.1% | -13.8% | 59.1% | 114.4% | -510.3% | -74.1% | — |
| Return on assets | 1.5% | -5.6% | 25.8% | -41.9% | -20.1% | -15.7% | — |
| Free cash flow yield | -1.1% | -3.2% | 9.2% | -13.6% | -2.5% | 11.9% | — |
| Revenue growth | 22.3% | 12.2% | 89.9% | -67.4% | -41.8% | -73.2% | — |
| Earnings growth | -127.2% | -117.0% | -158.7% | 50.1% | -1.2% | -655.7% | — |
| Current ratio | 1.56x | 1.62x | 1.72x | 0.45x | 0.57x | 1.11x | — |
| Debt to equity | 0.16x | 0.26x | 0.23x | -1.52x | 9.94x | 1.50x | — |
| Equity ratio | 46.6% | 40.6% | 43.6% | -36.7% | 3.9% | 21.2% | — |
| Interest coverage | 8.68x | -2.79x | -0.43x | -2.33x | -3.08x | -3.20x | — |
| R&D as a share of sales | — | 0.1% | 0.1% | 0.2% | 1.3% | 2.1% | 0.3% |
| Buybacks as a share of market value | -0.8% | -27.0% | -56.3% | 0.5% | -0.5% | 0.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 37.6% | -13.1% | -16.6% |
| Operating income | — | — | -10.0% |
| Net income | — | — | -18.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.3% | 19.7% | 18.6% | 18.6% |
| Operating margin | 3.3% | 12.1% | -10.1% | 3.0% |
| Net margin | -5.2% | -21.5% | -38.6% | -2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 412.4 | -62.6 | 8.0 | -4.9 | -8.9 | -15.3 | 58.2 | 28.1 | 51.2 | 57.2 |
| Price to sales | 14.4 | 9.9 | 8.4 | 16.4 | 6.5 | 6.6 | 1.2 | 0.7 | 1.4 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Jul 2017.
| FY2017 | FY2004 | FY2001 | FY1997 | |
|---|---|---|---|---|
| Paid in the year | 0.10 | 0.018 | 0.039 | 0.059 |
- 1.038-for-1 split · 20 Dec 2023
- 1-to-1 reverse split · 12 Sept 2006
- 6-for-5 split · 28 May 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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