Z 
3.16
-0.94%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.46bn
FY2015FY2024
Net income
−CN¥35.4m
FY2015FY2024
Free cash flow
−CN¥67.6m
FY2015FY2024
Shareholders' equity
CN¥100.3m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.46bn | CN¥1.43bn | CN¥1.52bn | CN¥1.95bn | CN¥2.57bn | CN¥3.16bn | CN¥3.03bn | CN¥2.11bn | CN¥1.81bn | CN¥2.22bn |
| Gross profit | CN¥128.6m | CN¥127.4m | CN¥147.8m | CN¥160.9m | CN¥340.6m | CN¥460.4m | CN¥600.7m | CN¥498.4m | CN¥449.8m | CN¥485.7m |
| Research and development | CN¥49.4m | CN¥50.2m | CN¥60.1m | CN¥66.4m | CN¥79.6m | CN¥89.0m | CN¥104.6m | CN¥80.2m | CN¥89.4m | CN¥54.5m |
| Operating income | −CN¥31.9m | −CN¥45.3m | −CN¥56.7m | −CN¥1.98bn | CN¥95.8m | −CN¥1.17bn | CN¥306.1m | CN¥259.6m | CN¥251.7m | CN¥316.2m |
| Net income | −CN¥35.4m | −CN¥125.3m | −CN¥79.1m | −CN¥2.00bn | CN¥20.2m | −CN¥1.24bn | CN¥252.9m | CN¥228.6m | CN¥220.0m | CN¥153.6m |
| Diluted earnings per share | -0.04 | -0.13 | -0.08 | -2.14 | 0.02 | -1.32 | 0.28 | 0.26 | 0.25 | 0.18 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥920.9m | CN¥904.9m | CN¥1.30bn | CN¥1.48bn | CN¥3.72bn | CN¥3.91bn | CN¥5.33bn | CN¥3.22bn | CN¥2.99bn | CN¥3.39bn |
| Cash and short-term investments | CN¥55.2m | CN¥137.6m | CN¥267.8m | CN¥383.7m | CN¥725.8m | CN¥830.1m | CN¥693.3m | CN¥375.2m | CN¥338.2m | CN¥225.1m |
| Total liabilities | CN¥820.4m | CN¥769.0m | CN¥1.04bn | CN¥1.14bn | CN¥1.38bn | CN¥1.58bn | CN¥1.72bn | CN¥562.2m | CN¥535.1m | CN¥1.14bn |
| Debt | CN¥38.6m | CN¥36.9m | CN¥74.3m | CN¥156.5m | CN¥271.8m | CN¥487.1m | CN¥604.6m | CN¥20.0m | CN¥20.0m | CN¥614.6m |
| Shareholders' equity | CN¥100.3m | CN¥135.7m | CN¥261.3m | CN¥337.9m | CN¥2.34bn | CN¥2.32bn | CN¥3.60bn | CN¥2.66bn | CN¥2.45bn | CN¥2.25bn |
| Shares outstanding | 944m | 934m | 934m | 938m | 931m | 937m | 914m | 870m | 872m | 872m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥56.5m | −CN¥47.6m | −CN¥15.1m | −CN¥95.3m | CN¥237.5m | CN¥414.8m | −CN¥89.3m | CN¥43.2m | CN¥148.4m | CN¥140.7m |
| Capital spending | −CN¥11.1m | −CN¥36.4m | −CN¥11.1m | −CN¥19.5m | −CN¥32.2m | −CN¥36.2m | −CN¥28.5m | −CN¥29.6m | −CN¥11.9m | −CN¥17.9m |
| Free cash flow | −CN¥67.6m | −CN¥84.0m | −CN¥26.3m | −CN¥114.9m | CN¥205.2m | CN¥378.6m | −CN¥117.8m | CN¥13.6m | CN¥136.5m | CN¥122.8m |
| Dividends paid | −CN¥2.4m | −CN¥2.8m | −CN¥6.1m | −CN¥29.1m | −CN¥29.0m | −CN¥25.4m | −CN¥34.5m | −CN¥22.9m | −CN¥18.4m | −CN¥12.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥364.5m | CN¥367.5m | CN¥410.2m | CN¥403.2m | CN¥372.6m | CN¥385.1m | CN¥375.8m | CN¥338.6m |
| Gross profit | CN¥37.5m | CN¥32.0m | CN¥29.8m | CN¥24.6m | CN¥34.7m | CN¥32.9m | CN¥28.9m | CN¥31.9m |
| Operating income | CN¥1.5m | −CN¥3.5m | −CN¥7.9m | −CN¥15.6m | −CN¥5.4m | −CN¥9.9m | −CN¥8.4m | −CN¥8.3m |
| Net income | CN¥129.7m | −CN¥4.4m | −CN¥7.9m | −CN¥15.8m | −CN¥5.6m | −CN¥12.3m | −CN¥8.6m | −CN¥8.3m |
| Diluted earnings per share | 0.14 | -0.00 | -0.01 | -0.02 | -0.01 | -0.01 | -0.01 | -0.01 |
| Cash from operations | — | — | CN¥4.0m | −CN¥3.0m | −CN¥23.0m | CN¥20.0m | — | CN¥2.0m |
| Capital spending | −CN¥1.0m | — | −CN¥2.0m | −CN¥3.0m | −CN¥2.0m | −CN¥3.0m | −CN¥3.0m | — |
| Free cash flow | — | — | CN¥2.0m | −CN¥6.0m | −CN¥25.0m | CN¥17.0m | — | — |
| Total assets | CN¥1.09bn | CN¥955.2m | CN¥889.2m | CN¥928.5m | CN¥860.0m | CN¥920.9m | CN¥851.6m | CN¥889.5m |
| Cash and short-term investments | — | — | CN¥17.9m | CN¥59.2m | CN¥39.2m | CN¥55.2m | CN¥48.3m | CN¥49.9m |
| Debt | CN¥66.5m | CN¥69.5m | CN¥25.3m | CN¥63.9m | CN¥36.4m | CN¥24.5m | CN¥31.2m | CN¥40.1m |
| Shareholders' equity | CN¥199.2m | CN¥69.5m | CN¥71.0m | CN¥78.9m | CN¥94.7m | CN¥100.3m | CN¥112.6m | CN¥121.3m |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | — | 8.8% | 8.9% | 9.7% | 8.2% | 13.2% | 14.6% |
| Operating margin | — | -2.2% | -8.3% | -3.7% | -101.5% | 3.9% | -37.0% |
| Net margin | — | -2.4% | -8.8% | -5.2% | -102.8% | 0.8% | -39.2% |
| Return on equity | — | -35.3% | -92.3% | -30.3% | -593.3% | 0.9% | -53.4% |
| Return on assets | — | -3.8% | -13.8% | -6.1% | -135.8% | 0.5% | -31.7% |
| Free cash flow yield | — | -1.5% | -0.4% | -0.1% | -2.5% | 9.0% | 14.9% |
| Revenue growth | — | 2.4% | -5.8% | -22.3% | -24.2% | -18.6% | 4.4% |
| Earnings growth | — | -71.7% | 58.4% | -96.1% | -10041.7% | -101.6% | -590.4% |
| Current ratio | — | 0.91x | 0.94x | 0.86x | 0.89x | 1.29x | 1.29x |
| Debt to equity | — | 0.24x | 0.22x | 0.23x | 0.45x | 0.09x | 0.16x |
| Equity ratio | — | 10.9% | 15.0% | 20.1% | 22.9% | 63.0% | 59.4% |
| Interest coverage | — | -9.01x | -35.88x | -9.95x | -74.56x | 1.56x | -22.64x |
| R&D as a share of sales | — | 3.4% | 3.5% | 4.0% | 3.4% | 3.1% | 2.8% |
| Buybacks as a share of market value | 0.5% | -1.1% | 0.0% | 0.4% | -0.7% | 0.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.1% | -14.3% | -2.7% |
| Operating income | -74.8% | -51.4% | — |
| Net income | -74.0% | -50.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.9% | 8.9% | 11.3% | 16.4% |
| Operating margin | -2.7% | -33.2% | -26.4% | -8.2% |
| Net margin | -5.6% | -35.3% | -28.6% | -10.8% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -69.0 | -16.6 | -21.9 | -1.7 | 243.9 | -5.0 | 26.3 | 36.3 | 43.2 | 64.4 |
| Price to sales | 1.7 | 1.5 | 1.1 | 1.7 | 1.9 | 2.0 | 2.2 | 3.9 | 5.2 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.027 | 0.026 | 0.026 | 0.018 | 0.011 | 0.03 | 0.018 | 0.016 |
- 7-for-5 split · 10 Jul 2020
- 1.15-for-1 split · 30 May 2007
- 1-to-1 reverse split · 21 Jun 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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