S 
11.70
+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¥1.75bn
FY2016FY2025
Net income
−CN¥24.9m
FY2016FY2025
Free cash flow
−CN¥35.6m
FY2016FY2025
Shareholders' equity
CN¥1.49bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.75bn | CN¥1.60bn | CN¥1.66bn | CN¥1.70bn | CN¥1.53bn | CN¥1.27bn | CN¥877.1m | CN¥659.4m | CN¥604.7m | CN¥609.6m |
| Gross profit | CN¥321.2m | CN¥274.8m | CN¥240.9m | CN¥326.4m | CN¥345.5m | CN¥328.1m | CN¥180.8m | CN¥112.7m | CN¥118.9m | CN¥122.3m |
| Research and development | CN¥60.2m | CN¥62.9m | CN¥60.6m | CN¥60.4m | CN¥61.1m | CN¥50.5m | CN¥32.9m | CN¥29.1m | CN¥15.5m | CN¥14.0m |
| Operating income | CN¥52.2m | −CN¥109.7m | −CN¥59.3m | CN¥945,592 | CN¥53.5m | CN¥78.3m | CN¥65.6m | CN¥75.3m | CN¥1.9m | CN¥6.6m |
| Net income | −CN¥24.9m | −CN¥115.7m | −CN¥63.6m | CN¥12.0m | CN¥51.2m | CN¥65.0m | CN¥64.7m | CN¥45.0m | CN¥6.4m | CN¥14.5m |
| Diluted earnings per share | -0.05 | -0.24 | -0.15 | 0.03 | 0.12 | 0.15 | 0.15 | 0.11 | 0.02 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.47bn | CN¥3.30bn | CN¥3.27bn | CN¥3.28bn | CN¥3.00bn | CN¥2.82bn | CN¥1.85bn | CN¥1.79bn | CN¥1.57bn | CN¥1.64bn |
| Cash and short-term investments | — | CN¥304.3m | CN¥272.9m | CN¥176.0m | CN¥325.3m | CN¥180.5m | CN¥253.4m | CN¥222.7m | CN¥202.6m | CN¥231.4m |
| Total liabilities | CN¥1.95bn | CN¥1.76bn | CN¥1.85bn | CN¥1.79bn | CN¥1.51bn | CN¥1.41bn | CN¥533.8m | CN¥555.8m | CN¥396.8m | CN¥471.3m |
| Debt | CN¥505.0m | CN¥535.5m | CN¥725.6m | CN¥751.7m | CN¥667.1m | CN¥489.6m | CN¥60.0m | CN¥70.0m | CN¥89.4m | CN¥78.0m |
| Shareholders' equity | CN¥1.49bn | CN¥1.51bn | CN¥1.40bn | CN¥1.46bn | CN¥1.46bn | CN¥1.39bn | CN¥1.31bn | CN¥1.23bn | CN¥1.17bn | CN¥1.17bn |
| Shares outstanding | 485m | 481m | 435m | 452m | 432m | 427m | 422m | 420m | 419m | 420m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥70.2m | −CN¥130.1m | CN¥88.3m | −CN¥103.6m | −CN¥171.0m | −CN¥48.2m | CN¥37.6m | −CN¥22.3m | CN¥4.4m | CN¥4.2m |
| Capital spending | −CN¥105.8m | −CN¥41.5m | −CN¥20.5m | −CN¥40.0m | −CN¥32.8m | −CN¥22.9m | −CN¥9.4m | −CN¥14.2m | −CN¥5.2m | −CN¥1.8m |
| Free cash flow | −CN¥35.6m | −CN¥171.7m | CN¥67.8m | −CN¥143.6m | −CN¥203.8m | −CN¥71.1m | CN¥28.2m | −CN¥36.5m | −CN¥791,350 | CN¥2.4m |
| Dividends paid | −CN¥36.2m | −CN¥60.0m | −CN¥33.7m | −CN¥21.9m | −CN¥28.8m | −CN¥10.5m | −CN¥2.7m | −CN¥4.3m | −CN¥3.7m | −CN¥3.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥548.0m | CN¥328.5m | CN¥487.9m | CN¥458.2m | CN¥492.0m | CN¥312.0m | CN¥396.0m | CN¥558.0m |
| Gross profit | CN¥97.8m | CN¥43.2m | CN¥96.5m | CN¥90.0m | CN¥92.5m | CN¥42.2m | CN¥26.7m | CN¥130.0m |
| Operating income | CN¥20.9m | −CN¥28.4m | CN¥24.0m | CN¥5.1m | CN¥10.9m | −CN¥25.2m | −CN¥89.9m | CN¥33.3m |
| Net income | −CN¥2.4m | −CN¥30.9m | −CN¥3.3m | CN¥1.9m | CN¥4.4m | −CN¥28.0m | −CN¥84.7m | CN¥25.6m |
| Diluted earnings per share | -0.00 | -0.06 | -0.01 | 0.00 | 0.01 | -0.06 | -0.18 | 0.05 |
| Cash from operations | — | — | — | −CN¥8.0m | CN¥17.0m | −CN¥16.0m | — | −CN¥52.0m |
| Capital spending | −CN¥21.0m | −CN¥41.0m | −CN¥40.0m | −CN¥27.0m | −CN¥22.0m | −CN¥15.0m | −CN¥32.0m | −CN¥3.0m |
| Free cash flow | — | — | — | −CN¥35.0m | −CN¥5.0m | −CN¥31.0m | — | −CN¥55.0m |
| Total assets | CN¥3.63bn | CN¥3.60bn | CN¥3.47bn | CN¥3.65bn | CN¥3.59bn | CN¥3.38bn | CN¥3.30bn | CN¥3.55bn |
| Cash and short-term investments | — | — | — | CN¥359.1m | CN¥377.0m | CN¥374.9m | CN¥304.3m | CN¥357.8m |
| Debt | CN¥594.0m | CN¥513.8m | CN¥505.0m | CN¥723.4m | CN¥520.2m | CN¥634.4m | CN¥530.2m | CN¥772.7m |
| Shareholders' equity | CN¥1.47bn | CN¥1.46bn | CN¥1.49bn | CN¥1.49bn | CN¥1.49bn | CN¥1.49bn | CN¥1.51bn | CN¥1.60bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.4% | 17.2% | 14.5% | 19.2% | 22.6% | 25.8% |
| Operating margin | 1.4% | -3.7% | -2.0% | 0.0% | 4.2% | 6.7% |
| Net margin | -1.4% | -7.2% | -3.8% | 0.7% | 3.3% | 5.1% |
| Return on equity | -1.7% | -7.6% | -4.5% | 0.8% | 3.5% | 4.7% |
| Return on assets | -0.7% | -3.5% | -1.9% | 0.4% | 1.7% | 2.3% |
| Free cash flow yield | 2.7% | -1.4% | 1.8% | -1.0% | -2.4% | -0.4% |
| Revenue growth | 9.6% | -4.0% | -2.1% | 10.9% | 20.3% | 45.2% |
| Earnings growth | -78.5% | 81.9% | -630.7% | -76.6% | -21.2% | 0.5% |
| Current ratio | 1.63x | 1.54x | 1.37x | 1.23x | 1.38x | 1.65x |
| Debt to equity | 0.34x | 0.35x | 0.51x | 0.49x | 0.44x | 0.35x |
| Equity ratio | 43.0% | 45.9% | 42.9% | 44.6% | 48.5% | 49.2% |
| Interest coverage | 0.56x | -1.53x | -0.79x | 0.01x | 1.87x | 4.83x |
| R&D as a share of sales | 3.4% | 3.9% | 3.6% | 3.6% | 4.0% | 4.0% |
| Buybacks as a share of market value | -0.9% | -10.6% | 3.7% | -4.6% | -1.0% | -1.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.0% | 6.6% | 8.3% |
| Operating income | 280.8% | -7.8% | — |
| Net income | — | — | -9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.8% | 17.3% | 19.3% | 19.0% |
| Operating margin | -1.7% | -1.7% | 0.2% | 0.6% |
| Net margin | -4.2% | -2.9% | -0.8% | -0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -318.2 | -40.9 | -46.8 | 227.9 | 56.7 | 40.3 | 29.3 | 37.3 | 373.3 | 305.9 |
| Price to sales | 4.5 | 3.0 | 1.8 | 1.6 | 1.9 | 2.1 | 2.2 | 2.5 | 4.0 | 7.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jul 2024.
| FY2024 | FY2022 | FY2013 | FY2012 | FY2010 | FY2009 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.015 | 0.05 | 0.083 | 0.106 |
- 2-for-1 split · 14 Mar 2012
- 3-for-2 split · 23 May 2011
- 11-for-10 split · 19 Jun 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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