W 
9.96
-0.10%
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¥198.8m
FY2016FY2025
Free cash flow
CN¥314.3m
FY2016FY2025
Shareholders' equity
CN¥2.52bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Research and development | CN¥59.2m | CN¥59.9m | CN¥54.0m | CN¥59.1m | CN¥76.2m | CN¥184.9m | CN¥163.4m | CN¥50.6m | CN¥43.4m |
| Operating income | −CN¥172.9m | CN¥60.1m | CN¥72.2m | CN¥128.7m | CN¥375.2m | CN¥399.3m | CN¥516.6m | CN¥116.9m | CN¥75.2m |
| Net income | −CN¥198.8m | CN¥55.4m | CN¥49.2m | CN¥93.3m | CN¥166.5m | CN¥284.9m | CN¥294.5m | CN¥98.2m | CN¥69.7m |
| Diluted earnings per share | -0.17 | 0.09 | 0.08 | 0.15 | 0.26 | 0.46 | 1.99 | 0.42 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.39bn | CN¥4.33bn | CN¥4.30bn | CN¥4.22bn | CN¥4.37bn | CN¥5.66bn | CN¥3.80bn | CN¥2.10bn | CN¥1.66bn |
| Cash and short-term investments | — | CN¥169.9m | CN¥226.6m | CN¥467.6m | CN¥912.0m | CN¥574.2m | CN¥650.9m | CN¥280.7m | CN¥557.3m |
| Total liabilities | CN¥1.78bn | CN¥1.57bn | CN¥1.54bn | CN¥1.40bn | CN¥1.63bn | CN¥2.80bn | CN¥1.89bn | CN¥496.6m | CN¥261.8m |
| Debt | CN¥172.7m | CN¥969.6m | CN¥917.8m | CN¥863.0m | CN¥840.6m | CN¥1.86bn | CN¥1.36bn | CN¥89.6m | CN¥112.1m |
| Shareholders' equity | CN¥2.52bn | CN¥2.67bn | CN¥2.66bn | CN¥2.69bn | CN¥2.60bn | CN¥2.62bn | CN¥1.64bn | CN¥1.42bn | CN¥1.38bn |
| Shares outstanding | 1,144m | 614m | 628m | 634m | 640m | 613m | 148m | 232m | 254m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥604.0m | CN¥120.2m | −CN¥72.9m | −CN¥239.6m | CN¥22.1m | CN¥151.0m | −CN¥248.7m | −CN¥17.6m | CN¥310.7m |
| Capital spending | −CN¥289.7m | −CN¥88.4m | −CN¥128.7m | −CN¥167.2m | −CN¥277.1m | −CN¥559.2m | −CN¥406.0m | −CN¥20.9m | −CN¥9.0m |
| Free cash flow | CN¥314.3m | CN¥31.8m | −CN¥201.6m | −CN¥406.9m | −CN¥255.0m | −CN¥408.2m | −CN¥654.7m | −CN¥38.5m | CN¥301.7m |
| Dividends paid | −CN¥47.7m | −CN¥90.8m | −CN¥122.0m | −CN¥43.9m | −CN¥122.9m | −CN¥92.7m | −CN¥50.2m | −CN¥59.5m | −CN¥23.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −CN¥28.8m | CN¥117.8m | −CN¥201.6m | −CN¥9.8m | −CN¥6.5m | CN¥24.2m | CN¥37.8m | CN¥16.0m |
| Net income | −CN¥39.7m | CN¥103.0m | −CN¥203.2m | −CN¥9.0m | −CN¥1.7m | CN¥15.2m | CN¥9.7m | CN¥8.0m |
| Diluted earnings per share | -0.03 | 0.09 | -0.18 | -0.01 | -0.00 | 0.01 | 0.02 | 0.01 |
| Cash from operations | — | — | — | −CN¥1.0m | CN¥61.0m | −CN¥14.0m | — | CN¥26.0m |
| Capital spending | — | −CN¥37.0m | — | −CN¥145.0m | −CN¥153.0m | −CN¥25.0m | −CN¥54.0m | −CN¥97.0m |
| Free cash flow | — | — | — | −CN¥146.0m | −CN¥92.0m | −CN¥39.0m | — | −CN¥71.0m |
| Total assets | CN¥4.41bn | CN¥4.55bn | CN¥4.39bn | CN¥4.54bn | CN¥4.43bn | CN¥4.27bn | CN¥4.33bn | CN¥4.27bn |
| Cash and short-term investments | — | — | — | CN¥83.1m | CN¥195.5m | CN¥56.9m | CN¥158.7m | CN¥95.8m |
| Debt | CN¥153.4m | CN¥153.5m | CN¥172.7m | CN¥779.3m | CN¥856.1m | CN¥920.8m | CN¥958.0m | CN¥918.4m |
| Shareholders' equity | CN¥2.58bn | CN¥2.61bn | CN¥2.52bn | CN¥2.67bn | CN¥2.68bn | CN¥2.68bn | CN¥2.67bn | CN¥2.66bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -15.1% | 4.2% | 4.7% | 7.2% | 19.4% | 2.9% |
| Net margin | -17.4% | 3.8% | 3.2% | 5.2% | 8.6% | 2.1% |
| Return on equity | -7.9% | 2.1% | 1.9% | 3.5% | 6.4% | 10.9% |
| Return on assets | -4.5% | 1.3% | 1.1% | 2.2% | 3.8% | 5.0% |
| Free cash flow yield | 6.0% | 2.6% | 0.7% | -0.9% | 3.6% | 8.9% |
| Revenue growth | -20.7% | -6.4% | -13.7% | -7.5% | -85.9% | -17.9% |
| Earnings growth | -458.5% | 12.7% | -47.2% | -44.0% | -41.6% | -3.3% |
| Current ratio | 1.22x | 1.37x | 1.45x | 1.94x | 1.92x | 1.65x |
| Debt to equity | 0.07x | 0.36x | 0.34x | 0.30x | 0.31x | 0.70x |
| Equity ratio | 57.3% | 61.6% | 61.9% | 63.8% | 59.4% | 46.3% |
| Interest coverage | -4.54x | 1.49x | 1.51x | 3.79x | 10.17x | 6.89x |
| R&D as a share of sales | 5.2% | 4.1% | 3.5% | 3.3% | 3.9% | 1.3% |
| Buybacks as a share of market value | -86.5% | 2.3% | 0.9% | 1.0% | -4.3% | -315.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.8% | -39.1% | -20.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.4% | 1.5% | 4.0% | 2.5% |
| Net margin | -5.5% | -0.0% | 2.1% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -80.2 | 71.2 | 81.7 | 59.9 | 56.8 | 29.5 | 4.7 | 33.8 | 33.0 | 70.8 |
| Price to sales | 13.9 | 2.7 | 2.6 | 3.1 | 4.9 | 0.6 | 0.1 | 7.4 | 0.2 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jul 2024.
| FY2024 | FY2023 | FY2021 | FY2020 | FY2017 | FY2016 | FY2015 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.08 | 0.12 | 0.20 | 0.15 | 0.25 | 0.10 | 0.05 | 0.08 |
- 8-for-5 split · 10 Jun 2008
- 8-for-5 split · 28 May 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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