C 
3.45
+0.58%
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¥492.1m
FY2016FY2025
Net income
−CN¥46.2m
FY2016FY2025
Free cash flow
CN¥189.6m
FY2016FY2025
Shareholders' equity
CN¥26.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥492.1m | CN¥308.2m | CN¥575.8m | CN¥589.3m | CN¥174.5m | CN¥213.2m | CN¥626.7m | CN¥517.7m | CN¥588.2m |
| Gross profit | −CN¥77.1m | −CN¥223.3m | CN¥145.2m | CN¥154.7m | −CN¥6.3m | CN¥12.5m | −CN¥128.8m | CN¥24.8m | CN¥18.2m |
| Research and development | CN¥2.1m | CN¥3.9m | CN¥827,843 | — | — | — | — | — | — |
| Operating income | CN¥147.2m | −CN¥206.1m | CN¥88.6m | CN¥31.7m | −CN¥96.6m | CN¥19.0m | −CN¥423.8m | CN¥134.3m | −CN¥275.1m |
| Net income | −CN¥46.2m | −CN¥230.8m | CN¥108.2m | CN¥26.1m | −CN¥106.8m | CN¥5.0m | −CN¥423.9m | CN¥26.6m | −CN¥254.1m |
| Diluted earnings per share | -0.06 | -0.30 | 0.14 | 0.02 | -0.14 | 0.01 | -0.55 | 0.02 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.22bn | CN¥1.74bn | CN¥1.22bn | CN¥825.4m | CN¥676.0m | CN¥740.3m | CN¥1.23bn | CN¥2.35bn | CN¥2.41bn |
| Cash and short-term investments | — | CN¥160.0m | CN¥110.6m | CN¥207.5m | CN¥20.5m | CN¥80.6m | CN¥56.6m | CN¥123.7m | CN¥223.0m |
| Total liabilities | CN¥1.19bn | CN¥1.76bn | CN¥1.01bn | CN¥724.9m | CN¥601.7m | CN¥292.3m | CN¥783.8m | CN¥1.47bn | CN¥1.65bn |
| Debt | CN¥57.0m | CN¥618.8m | CN¥418.2m | CN¥12.3m | CN¥18.4m | CN¥33.3m | CN¥198.4m | CN¥344.1m | CN¥350.8m |
| Shareholders' equity | CN¥26.1m | −CN¥27.4m | CN¥203.5m | CN¥95.3m | CN¥69.2m | CN¥441.9m | CN¥438.5m | CN¥878.0m | CN¥831.8m |
| Shares outstanding | 772m | 773m | 773m | 1,161m | 738m | 771m | 769m | 1,231m | 766m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥246.7m | −CN¥97.6m | −CN¥182.2m | CN¥197.7m | −CN¥188.7m | CN¥142.7m | CN¥416.3m | −CN¥176.2m | −CN¥206.9m |
| Capital spending | −CN¥57.0m | −CN¥35.6m | −CN¥214.9m | −CN¥14.1m | −CN¥12.0m | −CN¥632,476 | −CN¥8.6m | −CN¥14.7m | −CN¥14.9m |
| Free cash flow | CN¥189.6m | −CN¥133.2m | −CN¥397.2m | CN¥183.7m | −CN¥200.7m | CN¥142.0m | CN¥407.7m | −CN¥190.9m | −CN¥221.8m |
| Dividends paid | −CN¥22.8m | −CN¥26.5m | −CN¥16.5m | −CN¥12.9m | −CN¥3.9m | −CN¥9.4m | −CN¥32.9m | −CN¥31.9m | −CN¥24.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥142.0m | CN¥54.8m | CN¥137.9m | CN¥109.2m | CN¥166.2m | CN¥78.7m | CN¥10.3m | CN¥52.7m |
| Gross profit | −CN¥39.9m | CN¥904,415 | −CN¥15.7m | −CN¥15.7m | −CN¥23.1m | CN¥14.2m | −CN¥264.9m | −CN¥671,135 |
| Operating income | −CN¥47.7m | −CN¥11.4m | CN¥182.2m | −CN¥71.2m | −CN¥68.8m | −CN¥6.5m | −CN¥183.8m | −CN¥48.8m |
| Net income | −CN¥46.3m | −CN¥19.6m | CN¥97.9m | −CN¥69.4m | −CN¥67.4m | −CN¥7.3m | −CN¥187.2m | −CN¥55.3m |
| Diluted earnings per share | -0.06 | -0.03 | 0.13 | -0.09 | -0.09 | -0.01 | -0.24 | -0.07 |
| Cash from operations | — | — | — | CN¥71.0m | CN¥63.0m | −CN¥164.0m | — | −CN¥55.0m |
| Capital spending | −CN¥4.0m | −CN¥6.0m | −CN¥32.0m | −CN¥9.0m | −CN¥12.0m | −CN¥3.0m | −CN¥9.0m | −CN¥4.0m |
| Free cash flow | — | — | — | CN¥62.0m | CN¥51.0m | −CN¥167.0m | — | −CN¥59.0m |
| Total assets | CN¥996.2m | CN¥1.16bn | CN¥1.22bn | CN¥1.25bn | CN¥1.38bn | CN¥1.62bn | CN¥1.74bn | CN¥1.78bn |
| Cash and short-term investments | — | — | — | CN¥109.1m | CN¥66.4m | CN¥98.5m | CN¥160.0m | CN¥53.2m |
| Debt | CN¥53.0m | CN¥57.0m | CN¥57.0m | CN¥643.7m | CN¥674.9m | CN¥744.0m | CN¥618.5m | CN¥394.5m |
| Shareholders' equity | −CN¥39.8m | CN¥6.5m | CN¥26.1m | −CN¥171.5m | −CN¥102.1m | −CN¥34.6m | −CN¥27.4m | CN¥160.0m |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -15.7% | -72.5% | 25.2% | 26.2% | -3.6% | 32.3% |
| Operating margin | -1.3% | -66.8% | 22.8% | 8.0% | -55.4% | -1135.6% |
| Net margin | -9.4% | -74.9% | 18.8% | 4.4% | -61.2% | -1157.8% |
| Return on equity | -177.0% | 843.2% | 53.2% | 27.4% | -154.3% | -151.0% |
| Return on assets | -3.8% | -13.3% | 8.8% | 3.2% | -15.8% | -45.6% |
| Free cash flow yield | 10.2% | -2.1% | 1.1% | 4.8% | -6.2% | -0.2% |
| Revenue growth | 59.7% | -46.5% | -2.3% | 237.8% | 659.6% | -89.2% |
| Earnings growth | -80.0% | -313.2% | 314.9% | -124.4% | -59.8% | -5443.7% |
| Current ratio | 0.76x | 0.81x | 0.85x | 0.90x | 0.77x | 0.90x |
| Debt to equity | 2.18x | -22.60x | 2.05x | 0.13x | 0.00x | 0.11x |
| Equity ratio | 2.1% | -1.6% | 16.6% | 11.5% | 10.2% | 30.2% |
| Interest coverage | -0.15x | -7.66x | 5.95x | 2.98x | -9.39x | -58.66x |
| R&D as a share of sales | 0.4% | 1.3% | 0.1% | — | — | — |
| Buybacks as a share of market value | 0.1% | 0.0% | 33.4% | -57.4% | 9.6% | -5.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.8% | 84.6% | -3.2% |
| Operating income | 66.9% | — | — |
| Net income | — | -29.5% | -0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -37.5% | -0.0% | 0.0% | -1.1% |
| Operating margin | -7.4% | 3.1% | -13.7% | -21.2% |
| Net margin | -34.6% | -7.3% | -23.8% | -25.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -65.5 | -9.4 | 25.4 | 125.5 | -18.6 | -7.0 | — | -5.0 | 194.0 | -21.1 |
| Price to sales | 6.2 | 7.0 | 4.8 | 5.6 | 11.4 | 81.4 | 12.5 | 3.4 | 10.0 | 9.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jun 2008.
| FY2008 | FY2007 | FY2005 | FY2004 | FY2003 | FY2002 | FY2001 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.023 | 0.017 | 0.043 | 0.043 | 0.043 | 0.026 | 0.03 |
- 13-for-10 split · 10 Jun 2008
- 9-for-5 split · 28 May 2007
- 1-to-1 reverse split · 26 Oct 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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