W 
7.67
-2.54%
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¥325.2m
FY2016FY2025
Net income
−CN¥243.2m
FY2016FY2025
Free cash flow
−CN¥112.1m
FY2016FY2025
Shareholders' equity
CN¥865.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥325.2m | CN¥165.3m | CN¥179.7m | CN¥245.9m | CN¥301.4m | CN¥357.3m | CN¥342.5m | CN¥339.8m | CN¥266.5m | CN¥315.9m |
| Gross profit | CN¥163.7m | CN¥21.9m | −CN¥4.1m | CN¥24.8m | CN¥84.0m | CN¥131.7m | CN¥113.3m | CN¥85.7m | CN¥90.5m | CN¥90.6m |
| Research and development | CN¥79.5m | CN¥67.6m | CN¥54.2m | CN¥45.8m | CN¥37.6m | CN¥24.6m | CN¥20.0m | CN¥17.3m | CN¥1.9m | CN¥5.1m |
| Operating income | −CN¥55.1m | −CN¥92.0m | −CN¥207.6m | −CN¥70.8m | CN¥26.7m | CN¥81.1m | CN¥66.0m | CN¥58.6m | CN¥54.2m | CN¥34.7m |
| Net income | −CN¥243.2m | −CN¥72.3m | −CN¥171.7m | −CN¥57.9m | CN¥25.2m | CN¥67.4m | CN¥51.8m | CN¥54.9m | CN¥45.4m | CN¥38.9m |
| Diluted earnings per share | -1.02 | -0.32 | -0.76 | -0.31 | 0.11 | 0.30 | 0.23 | 0.23 | 0.20 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.64bn | CN¥1.46bn | CN¥1.57bn | CN¥1.75bn | CN¥1.81bn | CN¥1.80bn | CN¥1.71bn | CN¥1.60bn | CN¥1.53bn | CN¥1.52bn |
| Cash and short-term investments | — | CN¥135.5m | CN¥138.5m | CN¥100.2m | CN¥105.9m | CN¥180.8m | CN¥226.0m | CN¥290.9m | CN¥261.9m | CN¥320.7m |
| Total liabilities | CN¥732.9m | CN¥307.4m | CN¥324.2m | CN¥321.2m | CN¥315.4m | CN¥303.9m | CN¥263.3m | CN¥204.4m | CN¥172.4m | CN¥203.6m |
| Debt | CN¥18.8m | CN¥81.9m | CN¥105.1m | CN¥119.8m | CN¥79.0m | CN¥41.8m | CN¥39.7m | CN¥10.7m | CN¥5.0m | CN¥1.5m |
| Shareholders' equity | CN¥865.6m | CN¥1.13bn | CN¥1.20bn | CN¥1.37bn | CN¥1.43bn | CN¥1.43bn | CN¥1.39bn | CN¥1.35bn | CN¥1.31bn | CN¥1.28bn |
| Shares outstanding | 239m | 227m | 226m | 189m | 240m | 222m | 223m | 239m | 232m | 238m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥98.0m | CN¥34.7m | CN¥60.1m | CN¥30.4m | CN¥29.1m | CN¥30.4m | CN¥140.0m | CN¥117.1m | CN¥99.6m | CN¥56.5m |
| Capital spending | −CN¥14.1m | −CN¥14.9m | −CN¥29.6m | −CN¥71.1m | −CN¥105.9m | −CN¥95.4m | −CN¥119.8m | −CN¥93.1m | −CN¥116.1m | −CN¥151.7m |
| Free cash flow | −CN¥112.1m | CN¥19.8m | CN¥30.5m | −CN¥40.7m | −CN¥76.8m | −CN¥64.9m | CN¥20.2m | CN¥23.9m | −CN¥16.5m | −CN¥95.2m |
| Dividends paid | −CN¥5.0m | −CN¥5.3m | −CN¥5.3m | −CN¥4.4m | −CN¥27.1m | −CN¥27.1m | −CN¥27.1m | −CN¥27.4m | −CN¥27.4m | −CN¥30.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥39.9m | CN¥25.6m | CN¥248.6m | CN¥22.1m | CN¥29.2m | CN¥25.3m | CN¥38.8m | CN¥39.5m |
| Gross profit | CN¥4.4m | CN¥4.7m | CN¥106.0m | −CN¥29.8m | −CN¥450,036 | CN¥5.5m | −CN¥9.1m | CN¥10.9m |
| Operating income | −CN¥11.6m | −CN¥13.5m | CN¥39.4m | −CN¥53.5m | −CN¥28.2m | −CN¥16.7m | −CN¥58.1m | −CN¥11.6m |
| Net income | −CN¥11.6m | −CN¥18.0m | −CN¥178.6m | −CN¥31.7m | −CN¥20.2m | −CN¥12.7m | −CN¥45.3m | −CN¥9.9m |
| Diluted earnings per share | -0.05 | -0.08 | -0.75 | -0.13 | -0.08 | -0.05 | -0.20 | -0.04 |
| Cash from operations | — | — | — | −CN¥27.0m | CN¥18.0m | −CN¥7.0m | — | CN¥3.0m |
| Capital spending | −CN¥2.0m | — | −CN¥1.0m | −CN¥1.0m | −CN¥3.0m | −CN¥7.0m | −CN¥1.0m | −CN¥5.0m |
| Free cash flow | — | — | — | −CN¥28.0m | CN¥15.0m | −CN¥14.0m | — | −CN¥2.0m |
| Total assets | CN¥1.56bn | CN¥1.56bn | CN¥1.64bn | CN¥1.47bn | CN¥1.41bn | CN¥1.47bn | CN¥1.46bn | CN¥1.50bn |
| Cash and short-term investments | — | — | — | CN¥56.0m | CN¥112.7m | CN¥129.3m | CN¥135.5m | CN¥94.7m |
| Debt | CN¥9.7m | CN¥17.7m | CN¥18.8m | CN¥108.0m | CN¥51.7m | CN¥91.1m | CN¥81.5m | CN¥111.7m |
| Shareholders' equity | CN¥836.7m | CN¥848.1m | CN¥865.6m | CN¥1.06bn | CN¥1.10bn | CN¥1.12bn | CN¥1.13bn | CN¥1.18bn |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.0% | 13.3% | -2.3% | 10.1% | 27.9% | 36.9% |
| Operating margin | -86.9% | -52.3% | -115.6% | -25.7% | 9.5% | 23.3% |
| Net margin | -74.8% | -43.7% | -95.5% | -23.6% | 8.4% | 18.9% |
| Return on equity | -28.1% | -6.4% | -14.3% | -4.2% | 1.8% | 4.7% |
| Return on assets | -14.9% | -4.9% | -11.0% | -3.3% | 1.4% | 3.7% |
| Free cash flow yield | -4.2% | 2.6% | 4.7% | 6.4% | 6.7% | 6.7% |
| Revenue growth | 96.7% | -8.0% | -26.9% | -18.4% | -15.7% | 4.3% |
| Earnings growth | 236.4% | -57.9% | 196.3% | -329.8% | -62.6% | 30.2% |
| Current ratio | 1.19x | 2.44x | 2.85x | 3.22x | 3.73x | 3.95x |
| Debt to equity | 0.02x | 0.07x | 0.09x | 0.06x | 0.05x | 0.02x |
| Equity ratio | 52.9% | 77.1% | 76.9% | 78.5% | 79.3% | 79.8% |
| Interest coverage | -54.31x | -15.91x | -38.67x | -13.16x | 10.95x | 37.53x |
| R&D as a share of sales | 24.4% | 40.9% | 30.2% | 18.6% | 12.5% | 6.9% |
| Buybacks as a share of market value | -5.2% | -0.2% | -19.7% | 21.1% | -8.2% | 0.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.8% | -1.9% | 2.2% |
| Operating income | -8.0% | — | — |
| Net income | 61.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 37.8% | 22.5% | 26.8% | 28.8% |
| Operating margin | -30.0% | -46.5% | -20.2% | -2.2% |
| Net margin | -64.3% | -59.5% | -28.7% | -7.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.1 | -43.4 | -18.9 | -38.4 | 169.8 | 45.6 | 62.3 | 57.4 | 104.7 | 152.6 |
| Price to sales | 8.3 | 19.0 | 18.0 | 9.0 | 14.2 | 8.6 | 9.4 | 9.3 | 17.8 | 18.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 May 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.133 | 0.133 | 0.133 |
- 3-for-2 split · 19 May 2016
- 8-for-5 split · 12 Jun 2012
- 6-for-5 split · 19 May 2010
- 6-for-5 split · 2 Apr 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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