L 
2.94
-1.34%
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.
Net income
−CN¥61.9m
FY2016FY2025
Free cash flow
−CN¥304.2m
FY2016FY2025
Shareholders' equity
CN¥2.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross profit | CN¥5.8m | CN¥28.9m | CN¥80.2m | CN¥33.0m | CN¥38.5m | CN¥22.8m | CN¥182.9m | CN¥16.3m | −CN¥5.6m |
| Research and development | CN¥8.5m | CN¥8.1m | — | — | — | — | — | — | — |
| Operating income | −CN¥61.3m | −CN¥81.1m | CN¥51.0m | CN¥8.2m | CN¥15.4m | −CN¥9.8m | CN¥129.7m | CN¥196.8m | −CN¥316.6m |
| Net income | −CN¥61.9m | −CN¥102.9m | −CN¥36.1m | −CN¥141.6m | −CN¥60.2m | −CN¥85.2m | CN¥96.7m | CN¥101.1m | −CN¥240.5m |
| Diluted earnings per share | -0.08 | -0.12 | -0.04 | -0.17 | -0.07 | -0.10 | 0.12 | 0.12 | -0.30 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.23bn | CN¥2.97bn | CN¥4.31bn | CN¥4.41bn | CN¥4.57bn | CN¥5.64bn | CN¥5.81bn | CN¥5.95bn | CN¥6.38bn |
| Cash and short-term investments | — | CN¥1.25bn | CN¥46.0m | CN¥67.6m | CN¥123.8m | CN¥15.3m | CN¥46.2m | CN¥161.3m | CN¥181.1m |
| Total liabilities | CN¥552.2m | CN¥246.3m | CN¥1.43bn | CN¥1.49bn | CN¥1.51bn | CN¥2.52bn | CN¥2.60bn | CN¥2.84bn | CN¥3.37bn |
| Debt | — | CN¥16.3m | CN¥1.00bn | CN¥1.09bn | CN¥1.10bn | CN¥2.10bn | CN¥2.23bn | CN¥2.40bn | CN¥2.87bn |
| Shareholders' equity | CN¥2.65bn | CN¥2.72bn | CN¥2.88bn | CN¥2.91bn | CN¥3.06bn | CN¥3.12bn | CN¥3.20bn | CN¥3.10bn | CN¥3.00bn |
| Shares outstanding | 825m | 825m | 817m | 816m | 818m | 840m | 823m | 832m | 796m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥141.8m | −CN¥95.6m | CN¥121.4m | CN¥58.5m | CN¥198.3m | CN¥259.1m | CN¥211.7m | CN¥677.8m | −CN¥298.8m |
| Capital spending | −CN¥162.4m | −CN¥62.6m | −CN¥1.1m | −CN¥1.5m | −CN¥809,981 | −CN¥1.3m | −CN¥5.4m | −CN¥1.3m | −CN¥3.3m |
| Free cash flow | −CN¥304.2m | −CN¥158.1m | CN¥120.3m | CN¥57.0m | CN¥197.5m | CN¥257.8m | CN¥206.2m | CN¥676.6m | −CN¥302.2m |
| Dividends paid | −CN¥2.2m | −CN¥55.8m | −CN¥91.5m | −CN¥81.2m | −CN¥152.2m | −CN¥167.2m | −CN¥151.1m | −CN¥223.3m | −CN¥182.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | CN¥28.9m | CN¥13.0m | CN¥11.3m | CN¥6.9m | −CN¥6.8m | −CN¥5.6m | CN¥24.5m | CN¥7.1m |
| Operating income | CN¥14.0m | CN¥4.2m | −CN¥11.3m | −CN¥13.6m | −CN¥20.7m | −CN¥13.4m | −CN¥30.6m | −CN¥20.5m |
| Net income | CN¥6.2m | CN¥3.3m | −CN¥12.0m | −CN¥14.5m | −CN¥20.8m | −CN¥14.6m | −CN¥24.5m | −CN¥25.2m |
| Diluted earnings per share | 0.01 | 0.00 | -0.01 | -0.02 | -0.03 | -0.02 | -0.03 | -0.03 |
| Cash from operations | — | — | — | −CN¥58.0m | −CN¥73.0m | CN¥80.0m | — | −CN¥71.0m |
| Capital spending | −CN¥88.0m | −CN¥163.0m | −CN¥128.0m | −CN¥1.0m | −CN¥21.0m | −CN¥10.0m | −CN¥33.0m | −CN¥22.0m |
| Free cash flow | — | — | — | −CN¥59.0m | −CN¥94.0m | CN¥70.0m | — | −CN¥93.0m |
| Total assets | CN¥4.65bn | CN¥4.12bn | CN¥3.23bn | CN¥2.91bn | CN¥3.18bn | CN¥2.92bn | CN¥2.97bn | CN¥5.05bn |
| Cash and short-term investments | — | — | — | CN¥865.3m | CN¥1.19bn | CN¥1.37bn | CN¥1.25bn | CN¥511.5m |
| Debt | CN¥230.8m | CN¥200.2m | — | CN¥20.6m | CN¥245.4m | CN¥10.0m | CN¥10.0m | CN¥353.6m |
| Shareholders' equity | CN¥2.66bn | CN¥2.66bn | CN¥2.65bn | CN¥2.67bn | CN¥2.69bn | CN¥2.71bn | CN¥2.72bn | CN¥2.74bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 1.6% | 7.5% | -9.6% | 36.1% | 28.9% | 22.6% | — | — |
| Operating margin | -20.0% | -22.2% | -197.7% | 21.9% | -33.3% | 8.7% | — | — |
| Net margin | -17.3% | -26.9% | -444.8% | -16.3% | -123.9% | -35.4% | — | — |
| Return on equity | -2.3% | -3.8% | -3.8% | -1.3% | -4.9% | -2.0% | — | — |
| Return on assets | -1.9% | -3.5% | -2.3% | -0.8% | -3.2% | -1.3% | — | — |
| Free cash flow yield | 0.8% | -1.3% | -1.7% | 4.8% | 2.4% | 7.8% | — | — |
| Revenue growth | -6.3% | 1509.4% | -89.3% | 94.2% | -32.9% | -7.5% | — | — |
| Earnings growth | -39.9% | -2.7% | 192.8% | -74.5% | 135.1% | -29.3% | — | — |
| Current ratio | 2.62x | 6.34x | 4.76x | 5.49x | 5.41x | 3.95x | — | — |
| Debt to equity | — | 0.00x | 0.11x | 0.35x | 0.35x | 0.25x | 0.68x | — |
| Equity ratio | 82.3% | 91.7% | 61.1% | 66.9% | 66.1% | 66.9% | — | — |
| Interest coverage | -31.47x | -1.92x | -0.72x | 0.57x | -0.47x | 0.19x | — | — |
| R&D as a share of sales | 2.4% | 2.1% | — | — | — | — | — | 0.7% |
| Buybacks as a share of market value | 0.0% | 2.0% | -3.0% | -0.1% | 0.3% | 2.6% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.4% | 16.1% | 26.4% |
| Operating income | — | — | -12.4% |
| Net income | 19.7% | 0.6% | -10.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.7% | 11.4% | 14.5% | 12.8% |
| Operating margin | -19.2% | -14.0% | -9.0% | -11.0% |
| Net margin | -22.2% | -31.1% | -40.0% | -26.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -48.5 | -24.5 | -24.2 | -65.4 | -19.4 | -26.6 | -23.4 | 20.0 | 31.4 | -19.5 |
| Price to sales | 8.4 | 6.6 | 107.6 | 10.6 | 24.1 | 9.4 | 10.8 | 1.3 | 39.8 | 223.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 Oct 2015.
| FY2015 | FY2001 | |
|---|---|---|
| Paid in the year | 0.067 | 0.044 |
- 3-for-2 split · 20 Oct 2015
- 3-for-2 split · 5 Jun 2012
- 1-to-1 reverse split · 21 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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