H 
6.88
-2.27%
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¥3.50bn
FY2016FY2025
Net income
−CN¥472.2m
FY2016FY2025
Free cash flow
−CN¥219.9m
FY2016FY2025
Shareholders' equity
CN¥598.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.50bn | CN¥3.91bn | CN¥4.18bn | CN¥3.62bn | CN¥4.37bn | CN¥4.42bn | CN¥4.70bn | CN¥4.78bn | CN¥4.60bn | CN¥4.48bn |
| Gross profit | CN¥469.2m | CN¥243.4m | CN¥359.9m | CN¥254.6m | CN¥480.6m | CN¥685.4m | CN¥563.6m | CN¥459.8m | CN¥546.2m | CN¥619.4m |
| Research and development | CN¥99.6m | CN¥106.8m | CN¥115.9m | CN¥122.5m | CN¥120.6m | CN¥118.7m | CN¥122.6m | CN¥84.1m | CN¥77.6m | CN¥66.7m |
| Operating income | — | −CN¥170.2m | CN¥92.9m | −CN¥168.2m | CN¥176.2m | CN¥208.0m | CN¥56.7m | CN¥87.2m | CN¥81.8m | −CN¥63.3m |
| Net income | −CN¥472.2m | −CN¥379.4m | CN¥91.6m | −CN¥144.6m | CN¥104.3m | CN¥149.6m | CN¥51.2m | CN¥32.6m | −CN¥9.8m | CN¥5.5m |
| Diluted earnings per share | -0.56 | -0.45 | 0.11 | -0.20 | 0.13 | 0.17 | 0.06 | 0.04 | -0.02 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.19bn | CN¥6.15bn | CN¥6.41bn | CN¥6.26bn | CN¥5.81bn | CN¥5.82bn | CN¥4.62bn | CN¥4.66bn | CN¥6.75bn | CN¥6.76bn |
| Cash and short-term investments | — | CN¥1.18bn | CN¥1.25bn | CN¥1.08bn | CN¥830.2m | CN¥914.0m | CN¥932.1m | CN¥781.4m | CN¥618.7m | CN¥575.8m |
| Total liabilities | CN¥5.27bn | CN¥5.02bn | CN¥4.81bn | CN¥4.75bn | CN¥4.70bn | CN¥4.78bn | CN¥3.73bn | CN¥3.70bn | CN¥5.63bn | CN¥5.57bn |
| Debt | CN¥366.9m | CN¥648.1m | CN¥652.8m | CN¥579.2m | CN¥939.0m | CN¥614.1m | CN¥1.15bn | CN¥1.39bn | CN¥2.97bn | CN¥3.36bn |
| Shareholders' equity | CN¥598.3m | CN¥1.07bn | CN¥1.45bn | CN¥1.34bn | CN¥901.3m | CN¥811.6m | CN¥667.7m | CN¥680.6m | CN¥707.3m | CN¥732.2m |
| Shares outstanding | 845m | 843m | 845m | 722m | 802m | 867m | 897m | 752m | 560m | 671m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥187.8m | −CN¥71.0m | CN¥138.3m | −CN¥10.4m | CN¥51.0m | CN¥329.1m | CN¥470.0m | CN¥526.7m | CN¥541.0m | CN¥274.3m |
| Capital spending | −CN¥32.0m | −CN¥32.4m | −CN¥40.2m | −CN¥36.3m | −CN¥32.2m | −CN¥63.9m | −CN¥89.4m | −CN¥58.3m | −CN¥57.0m | −CN¥30.5m |
| Free cash flow | −CN¥219.9m | −CN¥103.4m | CN¥98.2m | −CN¥46.7m | CN¥18.9m | CN¥265.2m | CN¥380.6m | CN¥468.4m | CN¥484.0m | CN¥243.8m |
| Dividends paid | −CN¥29.7m | −CN¥23.6m | −CN¥21.8m | −CN¥32.8m | −CN¥37.8m | −CN¥50.7m | −CN¥74.2m | −CN¥133.6m | −CN¥155.9m | −CN¥163.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥865.6m | CN¥690.5m | CN¥1.00bn | CN¥935.4m | CN¥863.6m | CN¥700.0m | CN¥1.13bn | CN¥919.0m |
| Gross profit | CN¥146.7m | CN¥112.3m | CN¥193.1m | CN¥135.6m | CN¥53.3m | CN¥64.1m | CN¥51.4m | CN¥51.2m |
| Operating income | CN¥24.7m | CN¥5.6m | CN¥23.7m | −CN¥142.6m | −CN¥200.7m | −CN¥16.2m | −CN¥82.3m | −CN¥38.2m |
| Net income | −CN¥63.0m | −CN¥3.9m | −CN¥107.4m | −CN¥152.3m | −CN¥197.9m | −CN¥14.6m | −CN¥146.5m | −CN¥189.9m |
| Diluted earnings per share | -0.07 | -0.00 | -0.13 | -0.18 | -0.23 | -0.02 | -0.17 | -0.23 |
| Cash from operations | — | — | — | −CN¥86.0m | −CN¥66.0m | −CN¥282.0m | — | −CN¥283.0m |
| Capital spending | −CN¥11.0m | −CN¥31.0m | −CN¥14.0m | −CN¥8.0m | −CN¥3.0m | −CN¥5.0m | −CN¥6.0m | −CN¥5.0m |
| Free cash flow | — | — | — | −CN¥94.0m | −CN¥69.0m | −CN¥287.0m | — | −CN¥288.0m |
| Total assets | CN¥5.73bn | CN¥5.88bn | CN¥6.19bn | CN¥6.59bn | CN¥5.82bn | CN¥5.72bn | CN¥6.15bn | CN¥5.87bn |
| Cash and short-term investments | — | — | — | CN¥1.01bn | CN¥852.4m | CN¥810.7m | CN¥1.18bn | CN¥659.5m |
| Debt | CN¥323.2m | CN¥370.8m | CN¥366.9m | CN¥1.57bn | CN¥821.7m | CN¥640.5m | CN¥640.1m | CN¥638.8m |
| Shareholders' equity | CN¥531.7m | CN¥594.5m | CN¥598.3m | CN¥704.3m | CN¥856.6m | CN¥1.06bn | CN¥1.07bn | CN¥1.21bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.4% | 6.2% | 8.6% | 7.0% | 11.0% | 15.5% |
| Operating margin | -12.1% | -4.3% | 2.2% | -4.7% | 4.0% | 4.7% |
| Net margin | -13.5% | -9.7% | 2.2% | -4.0% | 2.4% | 3.4% |
| Return on equity | -78.9% | -35.4% | 6.3% | -10.8% | 11.6% | 18.4% |
| Return on assets | -7.6% | -6.2% | 1.4% | -2.3% | 1.8% | 2.6% |
| Free cash flow yield | -2.5% | -0.6% | 2.8% | 0.5% | 1.4% | 6.0% |
| Revenue growth | -10.5% | -6.5% | 15.7% | -17.2% | -1.3% | -6.0% |
| Earnings growth | 24.5% | -514.3% | -163.3% | -238.7% | -30.3% | 192.0% |
| Current ratio | 0.98x | 0.94x | 0.98x | 0.96x | 0.81x | 0.83x |
| Debt to equity | 0.61x | 0.60x | 0.44x | 0.38x | 0.98x | 0.76x |
| Equity ratio | 9.7% | 17.4% | 22.6% | 21.5% | 15.5% | 13.9% |
| Interest coverage | -13.98x | -6.21x | 2.96x | -4.24x | 3.87x | 4.19x |
| R&D as a share of sales | 2.8% | 2.7% | 2.8% | 3.4% | 2.8% | 2.7% |
| Buybacks as a share of market value | -0.2% | 0.2% | -17.0% | 10.0% | 7.5% | 3.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.1% | -4.6% | -2.6% |
| Net income | 48.4% | — | 7.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.6% | 8.7% | 10.4% | 10.5% |
| Net margin | -11.5% | -5.9% | -2.7% | -1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -42.7 | -20.8 | 83.8 | -57.0 | 90.4 | 121.3 | 97.2 | 115.7 | -437.4 | — |
| Price to sales | 5.8 | 2.0 | 1.8 | 2.3 | 2.2 | 4.1 | 1.1 | 0.8 | 0.9 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2012.
| FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.033 | 0.033 | 0.022 |
- 2-for-1 split · 12 May 2011
- 3-for-2 split · 20 May 2010
- 3-for-2 split · 17 Apr 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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