D 
16.60
+2.09%
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¥2.13bn
FY2016FY2025
Net income
−CN¥160.5m
FY2016FY2025
Free cash flow
−CN¥50.9m
FY2016FY2025
Shareholders' equity
CN¥3.23bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.13bn | CN¥1.52bn | CN¥1.04bn | CN¥1.22bn | CN¥1.05bn | CN¥1.37bn | CN¥872.0m | CN¥613.6m | CN¥634.2m | CN¥620.7m |
| Gross profit | CN¥648.4m | CN¥319.5m | −CN¥116.2m | CN¥326.6m | CN¥388.0m | CN¥819.4m | CN¥358.7m | CN¥103.0m | CN¥137.2m | CN¥154.3m |
| Research and development | CN¥34.2m | CN¥25.8m | CN¥23.9m | CN¥14.2m | CN¥10.5m | CN¥6.7m | CN¥5.3m | CN¥3.9m | CN¥4.1m | CN¥3.2m |
| Operating income | −CN¥34.0m | CN¥17.4m | −CN¥453.4m | CN¥64.6m | CN¥233.6m | CN¥709.2m | CN¥271.9m | CN¥12.9m | CN¥60.5m | CN¥73.8m |
| Net income | −CN¥160.5m | −CN¥65.7m | −CN¥516.1m | CN¥42.9m | CN¥211.6m | CN¥681.3m | CN¥261.9m | CN¥8.1m | CN¥51.7m | CN¥92.9m |
| Diluted earnings per share | -0.82 | -0.27 | -2.46 | 0.37 | 0.98 | 4.25 | 1.34 | 0.04 | 0.32 | 0.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.06bn | CN¥6.07bn | CN¥6.09bn | CN¥4.72bn | CN¥3.67bn | CN¥1.74bn | CN¥853.3m | CN¥620.7m | CN¥611.2m | CN¥464.1m |
| Cash and short-term investments | — | CN¥507.2m | CN¥1.18bn | CN¥424.6m | CN¥972.7m | CN¥488.5m | CN¥168.0m | CN¥57.4m | CN¥111.7m | CN¥33.0m |
| Total liabilities | CN¥2.83bn | CN¥2.68bn | CN¥2.59bn | CN¥1.61bn | CN¥573.3m | CN¥541.2m | CN¥283.7m | CN¥293.9m | CN¥288.4m | CN¥196.0m |
| Debt | CN¥671.6m | CN¥1.85bn | CN¥1.82bn | CN¥1.05bn | CN¥203.9m | CN¥320.3m | CN¥118.2m | CN¥175.4m | CN¥180.4m | CN¥76.0m |
| Shareholders' equity | CN¥3.23bn | CN¥3.39bn | CN¥3.50bn | CN¥3.10bn | CN¥3.10bn | CN¥1.20bn | CN¥569.6m | CN¥326.8m | CN¥322.8m | CN¥268.0m |
| Shares outstanding | 196m | 240m | 210m | 116m | 216m | 160m | 196m | 196m | 159m | 196m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥173.9m | CN¥58.1m | −CN¥178.4m | CN¥12.4m | CN¥144.8m | CN¥616.0m | CN¥331.0m | CN¥9.6m | CN¥97.9m | CN¥86.3m |
| Capital spending | −CN¥224.8m | −CN¥586.3m | −CN¥922.7m | −CN¥1.29bn | −CN¥1.12bn | −CN¥446.7m | −CN¥125.6m | −CN¥66.9m | −CN¥103.4m | −CN¥63.8m |
| Free cash flow | −CN¥50.9m | −CN¥528.1m | −CN¥1.10bn | −CN¥1.28bn | −CN¥977.0m | CN¥169.2m | CN¥205.4m | −CN¥57.4m | −CN¥5.6m | CN¥22.5m |
| Dividends paid | −CN¥66.7m | −CN¥71.7m | −CN¥61.7m | −CN¥35.5m | −CN¥126.7m | −CN¥50.0m | −CN¥35.9m | −CN¥16.1m | −CN¥15.7m | −CN¥10.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥416.1m | CN¥622.8m | CN¥534.8m | CN¥505.2m | CN¥600.2m | CN¥494.4m | CN¥454.3m | CN¥430.6m |
| Gross profit | −CN¥55.9m | −CN¥12.8m | −CN¥29.4m | CN¥102.4m | CN¥97.6m | CN¥91.2m | CN¥96.7m | CN¥116.9m |
| Operating income | −CN¥154.3m | −CN¥101.1m | −CN¥108.7m | CN¥10.3m | CN¥8.4m | CN¥16.1m | CN¥15.6m | CN¥35.2m |
| Net income | −CN¥236.5m | −CN¥188.6m | −CN¥172.0m | CN¥8.1m | CN¥8.9m | −CN¥5.6m | CN¥11.3m | CN¥33.1m |
| Diluted earnings per share | -1.21 | -0.96 | -0.88 | 0.04 | 0.05 | -0.03 | 0.05 | 0.14 |
| Cash from operations | — | — | — | CN¥13.0m | CN¥68.0m | CN¥54.0m | — | CN¥49.0m |
| Capital spending | −CN¥32.0m | −CN¥55.0m | −CN¥36.0m | −CN¥55.0m | −CN¥37.0m | −CN¥94.0m | −CN¥94.0m | −CN¥176.0m |
| Free cash flow | — | — | — | −CN¥42.0m | CN¥31.0m | −CN¥40.0m | — | −CN¥127.0m |
| Total assets | CN¥5.95bn | CN¥6.20bn | CN¥6.06bn | CN¥6.21bn | CN¥6.17bn | CN¥6.20bn | CN¥6.07bn | CN¥6.11bn |
| Cash and short-term investments | — | — | — | CN¥550.1m | CN¥575.9m | CN¥565.0m | CN¥507.2m | CN¥698.8m |
| Debt | CN¥739.9m | CN¥806.6m | CN¥671.6m | CN¥1.20bn | CN¥1.84bn | CN¥1.86bn | CN¥1.73bn | CN¥1.87bn |
| Shareholders' equity | CN¥2.76bn | CN¥3.04bn | CN¥3.23bn | CN¥3.40bn | CN¥3.39bn | CN¥3.38bn | CN¥3.39bn | CN¥3.37bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 30.4% | 21.0% | -11.2% | 26.8% | 36.9% | 60.0% |
| Operating margin | -3.6% | 1.1% | -43.0% | 6.4% | 22.7% | 51.3% |
| Net margin | -7.5% | -4.3% | -49.8% | 3.5% | 20.1% | 49.9% |
| Return on equity | -5.0% | -1.9% | -14.7% | 1.4% | 6.8% | 56.7% |
| Return on assets | -2.7% | -1.1% | -8.5% | 0.9% | 5.8% | 39.1% |
| Free cash flow yield | 13.1% | 17.3% | 22.8% | 72.7% | 37.7% | 42.7% |
| Revenue growth | 40.4% | 46.6% | -14.8% | 15.7% | -23.0% | 56.7% |
| Earnings growth | 144.5% | -87.3% | -1302.7% | -79.7% | -68.9% | 160.2% |
| Current ratio | 0.74x | 0.83x | 1.29x | 1.06x | 3.80x | 1.65x |
| Debt to equity | 0.21x | 0.51x | 0.49x | 0.30x | 0.04x | 0.27x |
| Equity ratio | 53.3% | 55.8% | 57.4% | 65.8% | 84.4% | 69.0% |
| Interest coverage | -0.95x | 0.23x | -6.61x | 3.54x | 16.66x | 90.75x |
| R&D as a share of sales | 1.6% | 1.7% | 2.3% | 1.2% | 1.0% | 0.5% |
| Buybacks as a share of market value | 18.4% | -14.3% | -81.7% | 46.5% | -34.8% | -0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.6% | 9.3% | 14.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.5% | 19.9% | 28.7% | 27.7% |
| Operating margin | -0.5% | -6.9% | 6.5% | 8.2% |
| Net margin | -6.2% | -11.8% | 2.3% | 5.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -17.8 | -57.9 | -9.8 | 77.4 | 32.8 |
| Price to sales | 1.3 | 2.5 | 4.9 | 2.7 | 6.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Jun 2022.
| FY2022 | FY2021 | |
|---|---|---|
| Paid in the year | 0.20 | 0.595 |
- 6-for-5 split · 2 Jun 2022
- 7-for-5 split · 25 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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