A 
9.97
-1.68%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.69bn
FY2016FY2025
Net income
−CN¥92.6m
FY2016FY2025
Free cash flow
−CN¥137.5m
FY2016FY2025
Shareholders' equity
CN¥1.08bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.69bn | CN¥1.89bn | CN¥2.11bn | CN¥2.71bn | CN¥2.05bn | CN¥1.12bn | CN¥1.04bn | CN¥1.04bn | CN¥1.14bn | CN¥819.1m |
| Gross profit | −CN¥13.9m | CN¥66.0m | CN¥180.7m | CN¥576.0m | CN¥342.4m | CN¥140.1m | CN¥141.0m | CN¥156.7m | CN¥260.3m | CN¥120.7m |
| Research and development | CN¥48.3m | CN¥58.8m | CN¥77.8m | CN¥93.9m | CN¥67.2m | CN¥37.5m | CN¥35.2m | CN¥34.3m | CN¥17.5m | CN¥26.5m |
| Operating income | −CN¥117.5m | −CN¥24.2m | CN¥53.1m | CN¥411.3m | CN¥219.3m | CN¥78.6m | CN¥37.5m | CN¥47.2m | CN¥182.7m | CN¥57.6m |
| Net income | −CN¥92.6m | CN¥11.3m | CN¥64.5m | CN¥268.2m | CN¥185.3m | CN¥65.1m | CN¥32.4m | CN¥46.1m | CN¥163.8m | CN¥42.5m |
| Diluted earnings per share | -0.43 | 0.05 | 0.30 | 1.25 | 0.86 | 0.30 | 0.15 | 0.21 | 0.76 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.06bn | CN¥2.10bn | CN¥2.01bn | CN¥1.91bn | CN¥1.38bn | CN¥1.02bn | CN¥904.8m | CN¥914.1m | CN¥990.2m | CN¥968.7m |
| Cash and short-term investments | CN¥367.6m | CN¥455.6m | CN¥570.7m | CN¥505.9m | CN¥224.5m | CN¥133.6m | CN¥101.4m | CN¥45.9m | CN¥62.8m | CN¥45.3m |
| Total liabilities | CN¥805.7m | CN¥722.4m | CN¥599.7m | CN¥535.8m | CN¥388.2m | CN¥228.1m | CN¥181.3m | CN¥204.5m | CN¥301.9m | CN¥449.9m |
| Debt | CN¥470.0m | CN¥82.2m | CN¥50.8m | CN¥21.1m | CN¥28.6m | CN¥13.5m | CN¥5.0m | CN¥53.0m | CN¥72.0m | CN¥258.0m |
| Shareholders' equity | CN¥1.08bn | CN¥1.17bn | CN¥1.18bn | CN¥1.16bn | CN¥919.0m | CN¥757.6m | CN¥703.3m | CN¥691.9m | CN¥667.3m | CN¥503.5m |
| Shares outstanding | 215m | 216m | 215m | 215m | 215m | 215m | 215m | 215m | 215m | 215m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥90.8m | −CN¥91.1m | CN¥26.2m | CN¥323.8m | CN¥92.8m | CN¥32.7m | CN¥125.9m | CN¥34.6m | CN¥211.4m | CN¥65.1m |
| Capital spending | −CN¥46.8m | −CN¥22.9m | −CN¥12.3m | −CN¥54.1m | −CN¥13.6m | −CN¥5.1m | −CN¥1.6m | −CN¥5.5m | −CN¥4.2m | −CN¥2.4m |
| Free cash flow | −CN¥137.5m | −CN¥114.0m | CN¥13.9m | CN¥269.7m | CN¥79.2m | CN¥27.6m | CN¥124.2m | CN¥29.1m | CN¥207.1m | CN¥62.7m |
| Dividends paid | −CN¥2.2m | −CN¥22.8m | −CN¥43.0m | −CN¥32.3m | −CN¥21.5m | −CN¥10.8m | −CN¥21.5m | −CN¥24.3m | −CN¥8.4m | −CN¥14.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥604.5m | CN¥502.2m | CN¥380.6m | CN¥434.1m | CN¥402.4m | CN¥473.5m | CN¥492.5m | CN¥415.4m |
| Gross profit | CN¥93.0m | CN¥28.6m | −CN¥7.1m | −CN¥693,386 | −CN¥5.0m | CN¥3.4m | −CN¥11.8m | CN¥7.9m |
| Operating income | CN¥64.4m | CN¥7.4m | −CN¥32.6m | −CN¥35.6m | −CN¥25.4m | −CN¥21.6m | −CN¥52.2m | −CN¥13.5m |
| Net income | CN¥41.2m | CN¥7.4m | −CN¥46.2m | −CN¥20.1m | −CN¥16.0m | −CN¥10.3m | −CN¥29.6m | −CN¥4.4m |
| Diluted earnings per share | 0.19 | 0.03 | -0.21 | -0.09 | -0.07 | -0.05 | -0.14 | -0.02 |
| Cash from operations | — | — | CN¥27.0m | −CN¥10.0m | −CN¥40.0m | −CN¥69.0m | CN¥49.0m | CN¥36.0m |
| Capital spending | — | −CN¥27.0m | −CN¥36.0m | −CN¥4.0m | — | −CN¥5.0m | — | −CN¥1.0m |
| Free cash flow | — | — | −CN¥9.0m | −CN¥14.0m | — | −CN¥74.0m | — | CN¥35.0m |
| Total assets | CN¥2.32bn | CN¥2.15bn | CN¥2.06bn | CN¥2.05bn | CN¥2.09bn | CN¥2.15bn | CN¥2.10bn | CN¥1.99bn |
| Cash and short-term investments | — | — | CN¥367.6m | CN¥367.1m | CN¥370.8m | CN¥385.6m | CN¥455.6m | CN¥335.2m |
| Debt | CN¥65.8m | CN¥65.8m | CN¥470.0m | CN¥432.9m | CN¥60.8m | CN¥70.4m | CN¥81.6m | CN¥22.5m |
| Shareholders' equity | CN¥1.13bn | CN¥1.09bn | CN¥1.08bn | CN¥1.13bn | CN¥1.15bn | CN¥1.16bn | CN¥1.17bn | CN¥1.20bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -0.8% | 3.5% | 8.6% | 21.2% | 16.7% | 12.5% |
| Operating margin | -7.0% | -1.9% | 2.6% | 14.9% | 10.7% | 6.8% |
| Net margin | -5.5% | 0.6% | 3.1% | 9.9% | 9.1% | 5.8% |
| Return on equity | -8.6% | 1.0% | 5.5% | 23.2% | 20.2% | 8.6% |
| Return on assets | -4.5% | 0.5% | 3.2% | 14.0% | 13.5% | 6.4% |
| Free cash flow yield | -1.9% | -3.0% | 1.7% | 16.4% | 4.6% | 1.6% |
| Revenue growth | -10.5% | -10.6% | -22.2% | 32.6% | 82.5% | 8.1% |
| Earnings growth | -922.5% | -82.5% | -75.9% | 44.7% | 184.6% | 101.1% |
| Current ratio | 1.32x | 1.72x | 1.90x | 2.16x | 2.09x | 2.10x |
| Debt to equity | 0.43x | 0.07x | 0.04x | 0.02x | 0.03x | 0.02x |
| Equity ratio | 52.4% | 56.0% | 58.8% | 60.6% | 66.7% | 74.4% |
| Interest coverage | -34.04x | -16.58x | 19.51x | 159.72x | 132.08x | 280.28x |
| R&D as a share of sales | 2.9% | 3.1% | 3.7% | 3.5% | 3.3% | 3.3% |
| Buybacks as a share of market value | 0.4% | -0.4% | 0.0% | 0.0% | -0.0% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.6% | 8.5% | 10.8% |
| Operating income | — | — | -1.4% |
| Net income | — | — | -3.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 1.5% | 9.6% | 11.2% | 11.7% |
| Operating margin | -4.0% | 3.8% | 5.4% | 5.0% |
| Net margin | -2.3% | 3.0% | 4.3% | 4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -28.2 | 187.0 | 38.7 | 10.9 | 18.9 | 30.1 | 50.6 | 38.1 | 18.7 | 87.7 |
| Price to sales | 1.6 | 1.1 | 1.2 | 1.1 | 1.7 | 1.8 | 1.6 | 1.7 | 2.7 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.20 | 0.15 | 0.10 | 0.05 | 0.10 | 0.10 | 0.10 |
- 2-for-1 split · 26 Sept 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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