S 
6.79
-1.74%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.16bn
FY2016FY2025
Net income
−CN¥268.5m
FY2016FY2025
Free cash flow
−CN¥10.5m
FY2016FY2025
Shareholders' equity
CN¥1.77bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.16bn | CN¥2.16bn | CN¥2.07bn | CN¥1.61bn | CN¥1.78bn | CN¥1.68bn | CN¥3.28bn | CN¥1.82bn | CN¥1.07bn | CN¥1.41bn |
| Gross profit | CN¥104.5m | CN¥94.8m | −CN¥32.5m | −CN¥206.1m | CN¥180.3m | CN¥215.6m | CN¥1.83bn | CN¥620.6m | −CN¥56.0m | CN¥350.3m |
| Research and development | CN¥21.6m | CN¥22.3m | CN¥18.9m | CN¥17.5m | CN¥10.6m | CN¥8.3m | CN¥6.7m | CN¥2.9m | CN¥4.3m | CN¥7.3m |
| Operating income | −CN¥220.0m | −CN¥254.0m | −CN¥384.3m | −CN¥465.2m | CN¥42.9m | CN¥73.3m | CN¥1.61bn | CN¥382.3m | −CN¥237.5m | CN¥188.5m |
| Net income | −CN¥268.5m | −CN¥249.1m | −CN¥386.3m | −CN¥452.1m | CN¥47.6m | CN¥66.7m | CN¥1.61bn | CN¥380.7m | −CN¥290.6m | CN¥153.8m |
| Diluted earnings per share | -0.78 | -0.71 | -1.10 | -1.32 | 0.12 | 0.22 | 5.31 | 1.26 | -0.95 | 0.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.65bn | CN¥3.84bn | CN¥3.76bn | CN¥3.95bn | CN¥3.84bn | CN¥3.32bn | CN¥3.26bn | CN¥2.62bn | CN¥2.28bn | CN¥2.18bn |
| Cash and short-term investments | — | CN¥622.1m | CN¥637.6m | CN¥999.1m | CN¥951.0m | CN¥745.2m | CN¥771.0m | CN¥468.0m | CN¥224.9m | CN¥337.8m |
| Total liabilities | CN¥1.89bn | CN¥1.82bn | CN¥1.48bn | CN¥1.29bn | CN¥713.4m | CN¥694.0m | CN¥516.1m | CN¥1.50bn | CN¥1.54bn | CN¥1.15bn |
| Debt | CN¥103.7m | CN¥1.47bn | CN¥1.12bn | CN¥1.02bn | CN¥441.3m | CN¥419.1m | CN¥263.9m | CN¥829.8m | CN¥827.0m | CN¥895.2m |
| Shareholders' equity | CN¥1.77bn | CN¥2.04bn | CN¥2.29bn | CN¥2.67bn | CN¥3.13bn | CN¥2.62bn | CN¥2.74bn | CN¥1.12bn | CN¥739.9m | CN¥1.03bn |
| Shares outstanding | 344m | 352m | 351m | 342m | 381m | 304m | 303m | 302m | 306m | 303m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥139.6m | −CN¥56.2m | −CN¥59.5m | −CN¥288.9m | CN¥42.7m | CN¥237.2m | CN¥1.74bn | CN¥444.4m | −CN¥76.6m | CN¥283.7m |
| Capital spending | −CN¥150.1m | −CN¥256.4m | −CN¥350.6m | −CN¥226.2m | −CN¥278.5m | −CN¥343.3m | −CN¥169.8m | −CN¥173.0m | −CN¥319.0m | −CN¥295.1m |
| Free cash flow | −CN¥10.5m | −CN¥312.6m | −CN¥410.1m | −CN¥515.1m | −CN¥235.8m | −CN¥106.1m | CN¥1.57bn | CN¥271.4m | −CN¥395.6m | −CN¥11.5m |
| Dividends paid | −CN¥43.8m | −CN¥39.8m | −CN¥24.0m | −CN¥19.3m | −CN¥104.7m | −CN¥181.2m | −CN¥42.5m | −CN¥70.8m | −CN¥56.0m | −CN¥46.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥557.9m | CN¥469.4m | CN¥617.2m | CN¥558.2m | CN¥518.5m | CN¥467.6m | CN¥583.5m | CN¥528.4m |
| Gross profit | CN¥51.2m | −CN¥60,426 | CN¥50.0m | CN¥121.4m | −CN¥76.0m | CN¥9.1m | CN¥7.1m | CN¥97.0m |
| Operating income | −CN¥7.5m | −CN¥56.5m | −CN¥12.4m | −CN¥16.8m | −CN¥145.0m | −CN¥72.7m | −CN¥34.0m | −CN¥33.1m |
| Net income | −CN¥27.7m | −CN¥67.5m | −CN¥38.2m | −CN¥15.9m | −CN¥143.5m | −CN¥71.0m | −CN¥31.9m | −CN¥31.5m |
| Diluted earnings per share | -0.08 | -0.20 | -0.11 | -0.05 | -0.42 | -0.21 | -0.09 | -0.09 |
| Cash from operations | — | — | — | CN¥43.0m | CN¥51.0m | CN¥3.0m | — | CN¥10.0m |
| Capital spending | −CN¥16.0m | −CN¥26.0m | −CN¥44.0m | −CN¥19.0m | −CN¥23.0m | −CN¥63.0m | −CN¥68.0m | −CN¥55.0m |
| Free cash flow | — | — | — | CN¥24.0m | CN¥28.0m | −CN¥60.0m | — | −CN¥45.0m |
| Total assets | CN¥3.61bn | CN¥3.59bn | CN¥3.65bn | CN¥3.70bn | CN¥3.76bn | CN¥3.78bn | CN¥3.84bn | CN¥3.92bn |
| Cash and short-term investments | — | — | — | CN¥563.8m | CN¥614.3m | CN¥546.2m | CN¥622.1m | CN¥775.9m |
| Debt | CN¥102.3m | CN¥103.6m | CN¥103.7m | CN¥1.45bn | CN¥1.41bn | CN¥1.43bn | CN¥1.44bn | CN¥1.46bn |
| Shareholders' equity | CN¥1.67bn | CN¥1.70bn | CN¥1.77bn | CN¥1.81bn | CN¥1.82bn | CN¥1.97bn | CN¥2.04bn | CN¥2.07bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 4.8% | 4.4% | -1.6% | -12.8% | 10.2% | 12.8% |
| Operating margin | -10.0% | -9.7% | -17.7% | -27.4% | 3.4% | 4.8% |
| Net margin | -12.4% | -11.5% | -18.6% | -28.1% | 2.7% | 4.0% |
| Return on equity | -15.2% | -12.2% | -16.9% | -16.9% | 1.5% | 2.5% |
| Return on assets | -7.4% | -6.5% | -10.3% | -11.4% | 1.2% | 2.0% |
| Free cash flow yield | 11.3% | 7.6% | 11.1% | -2.5% | 11.3% | 25.6% |
| Revenue growth | 0.1% | 4.1% | 29.0% | -9.4% | 5.6% | -48.7% |
| Earnings growth | 7.8% | -35.5% | -14.5% | -1049.5% | -28.6% | -95.9% |
| Current ratio | 0.77x | 0.80x | 0.97x | 1.41x | 2.60x | 1.98x |
| Debt to equity | 0.06x | 0.71x | 0.48x | 0.37x | 0.14x | 0.16x |
| Equity ratio | 48.4% | 53.1% | 60.9% | 67.6% | 81.4% | 78.9% |
| Interest coverage | -4.77x | -4.75x | -13.38x | -18.46x | 3.43x | 5.00x |
| R&D as a share of sales | 1.0% | 1.0% | 0.9% | 1.1% | 0.6% | 0.5% |
| Buybacks as a share of market value | 2.5% | -0.5% | -2.3% | 10.2% | -25.5% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.3% | 5.1% | 9.1% |
| Operating income | -22.1% | — | -3.8% |
| Net income | -15.9% | — | -1.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.6% | -0.5% | 3.1% | 14.9% |
| Operating margin | -11.0% | -16.5% | -10.5% | 2.1% |
| Net margin | -12.0% | -16.9% | -10.8% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.0 | -12.6 | -11.0 | -14.7 | 137.5 | 69.8 | 6.0 | 9.1 | -12.0 | 42.5 |
| Price to sales | 1.4 | 1.4 | 2.0 | 4.1 | 3.7 | 2.8 | 2.9 | 1.9 | 3.3 | 4.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 2021.
| FY2021 | FY2020 | FY2012 | FY2011 | |
|---|---|---|---|---|
| Paid in the year | 0.30 | 0.60 | 0.50 | 0.05 |
- 2-for-1 split · 18 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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