A 
6.92
+0.14%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.34bn
FY2016FY2025
Net income
−CN¥325.9m
FY2016FY2025
Free cash flow
−CN¥79.1m
FY2016FY2025
Shareholders' equity
CN¥1.46bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.34bn | CN¥1.21bn | CN¥1.01bn | CN¥983.5m | CN¥1.01bn | CN¥1.58bn | CN¥1.46bn | CN¥1.25bn | CN¥995.8m | CN¥992.1m |
| Gross profit | CN¥163.9m | CN¥306.7m | CN¥231.2m | CN¥183.6m | CN¥233.7m | CN¥384.9m | CN¥463.8m | CN¥371.0m | CN¥245.8m | CN¥205.4m |
| Research and development | CN¥85.1m | CN¥65.3m | CN¥77.1m | CN¥76.7m | CN¥77.3m | CN¥75.9m | CN¥88.7m | CN¥49.2m | CN¥38.4m | CN¥16.8m |
| Operating income | — | CN¥41.3m | −CN¥71.1m | −CN¥99.0m | −CN¥88.8m | −CN¥178.0m | CN¥206.9m | CN¥125.8m | CN¥110.0m | CN¥76.5m |
| Net income | −CN¥325.9m | CN¥36.9m | −CN¥78.4m | −CN¥103.1m | −CN¥90.4m | −CN¥195.3m | CN¥168.6m | CN¥105.8m | CN¥82.7m | CN¥76.9m |
| Diluted earnings per share | -0.77 | 0.09 | -0.19 | -0.25 | -0.22 | -0.47 | 0.41 | 0.27 | 0.24 | 0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.13bn | CN¥3.09bn | CN¥2.89bn | CN¥2.67bn | CN¥2.79bn | CN¥2.84bn | CN¥3.23bn | CN¥2.84bn | CN¥2.03bn | CN¥1.88bn |
| Cash and short-term investments | — | CN¥944.1m | CN¥654.0m | CN¥754.5m | CN¥748.7m | CN¥881.7m | CN¥949.9m | CN¥885.9m | CN¥666.3m | CN¥745.8m |
| Total liabilities | CN¥1.56bn | CN¥1.24bn | CN¥1.09bn | CN¥828.3m | CN¥842.3m | CN¥802.1m | CN¥966.7m | CN¥740.6m | CN¥598.3m | CN¥546.2m |
| Debt | CN¥5.0m | CN¥169.0m | CN¥96.5m | CN¥45.3m | CN¥35.9m | CN¥25.5m | CN¥30.8m | CN¥27.0m | CN¥10.0m | CN¥10.0m |
| Shareholders' equity | CN¥1.46bn | CN¥1.72bn | CN¥1.68bn | CN¥1.76bn | CN¥1.86bn | CN¥1.96bn | CN¥2.18bn | CN¥2.02bn | CN¥1.36bn | CN¥1.29bn |
| Shares outstanding | 425m | 410m | 410m | 410m | 412m | 412m | 412m | 396m | 351m | 350m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥69.7m | CN¥112.2m | −CN¥133.6m | CN¥1.5m | −CN¥79.0m | CN¥77.1m | CN¥168.1m | CN¥65.3m | CN¥29.9m | CN¥110.4m |
| Capital spending | −CN¥9.4m | −CN¥16.1m | −CN¥19.7m | −CN¥6.0m | −CN¥8.0m | −CN¥10.0m | −CN¥106.7m | −CN¥72.8m | −CN¥82.4m | −CN¥117.0m |
| Free cash flow | −CN¥79.1m | CN¥96.1m | −CN¥153.2m | −CN¥4.5m | −CN¥86.9m | CN¥67.1m | CN¥61.4m | −CN¥7.4m | −CN¥52.5m | −CN¥6.6m |
| Dividends paid | −CN¥17.7m | −CN¥7.6m | −CN¥960,938 | −CN¥4.2m | −CN¥5.3m | −CN¥28.8m | −CN¥12.4m | −CN¥1.1m | −CN¥18.4m | −CN¥14.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥252.7m | CN¥191.6m | CN¥741.6m | CN¥277.3m | CN¥192.0m | CN¥132.1m | CN¥722.7m | CN¥145.3m |
| Gross profit | CN¥33.5m | CN¥31.6m | CN¥49.2m | CN¥38.7m | CN¥46.1m | CN¥30.0m | CN¥174.3m | CN¥36.9m |
| Operating income | −CN¥21.3m | −CN¥30.6m | −CN¥76.9m | −CN¥22.7m | −CN¥23.2m | −CN¥14.2m | CN¥63.4m | −CN¥10.4m |
| Net income | −CN¥37.0m | −CN¥28.8m | −CN¥267.2m | −CN¥21.3m | −CN¥21.9m | −CN¥15.6m | CN¥56.2m | −CN¥12.0m |
| Diluted earnings per share | -0.09 | -0.07 | -0.63 | -0.05 | -0.05 | -0.04 | 0.14 | -0.03 |
| Cash from operations | — | — | — | −CN¥101.0m | −CN¥99.0m | −CN¥39.0m | — | CN¥15.0m |
| Capital spending | −CN¥1.0m | −CN¥6.0m | −CN¥3.0m | −CN¥2.0m | −CN¥2.0m | — | −CN¥11.0m | −CN¥3.0m |
| Free cash flow | — | — | — | −CN¥103.0m | −CN¥101.0m | — | — | CN¥12.0m |
| Total assets | CN¥2.96bn | CN¥3.12bn | CN¥3.13bn | CN¥3.09bn | CN¥3.00bn | CN¥3.06bn | CN¥3.09bn | CN¥2.81bn |
| Cash and short-term investments | — | — | — | CN¥817.4m | CN¥880.3m | CN¥1.00bn | CN¥944.1m | CN¥701.6m |
| Debt | CN¥5.0m | CN¥5.0m | CN¥5.0m | CN¥473.8m | CN¥177.0m | CN¥176.5m | CN¥168.9m | CN¥138.9m |
| Shareholders' equity | CN¥1.41bn | CN¥1.44bn | CN¥1.46bn | CN¥1.68bn | CN¥1.68bn | CN¥1.70bn | CN¥1.72bn | CN¥1.66bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 12.2% | 25.3% | 22.8% | 18.7% | 23.2% | 24.4% |
| Operating margin | -21.9% | 5.2% | -6.4% | -9.9% | -8.8% | -11.4% |
| Net margin | -24.3% | 3.0% | -7.7% | -10.5% | -9.0% | -12.4% |
| Return on equity | -22.3% | 2.2% | -4.7% | -5.9% | -4.9% | -10.0% |
| Return on assets | -10.4% | 1.2% | -2.7% | -3.9% | -3.2% | -6.9% |
| Free cash flow yield | -1.9% | 4.2% | -3.7% | 0.2% | -2.3% | 2.8% |
| Revenue growth | 10.9% | 19.6% | 3.0% | -2.4% | -36.1% | 8.0% |
| Earnings growth | -982.8% | -147.1% | -24.0% | 14.1% | -53.7% | -215.9% |
| Current ratio | 1.73x | 2.03x | 2.32x | 2.57x | 2.54x | 2.66x |
| Debt to equity | 0.00x | 0.10x | 0.06x | 0.02x | 0.02x | 0.01x |
| Equity ratio | 46.5% | 55.5% | 58.0% | 65.9% | 66.8% | 69.0% |
| Interest coverage | -27.99x | 6.27x | -9.36x | -30.08x | -34.48x | -59.69x |
| R&D as a share of sales | 6.3% | 5.4% | 7.6% | 7.8% | 7.7% | 4.8% |
| Buybacks as a share of market value | -3.6% | 0.0% | -0.2% | 0.5% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.9% | -3.1% | 4.3% |
| Net income | 46.7% | 10.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.4% | 19.5% | 21.1% | 23.4% |
| Net margin | -11.3% | -10.3% | -10.6% | -2.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.7 | 82.0 | -44.2 | -25.5 | -38.4 | -23.9 | 24.1 | 33.6 | 43.5 | 81.1 |
| Price to sales | 2.8 | 2.5 | 3.4 | 2.7 | 3.5 | 3.0 | 2.8 | 2.8 | 3.6 | 6.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 13 Jun 2025.
| FY2025 | FY2020 | FY2019 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.07 | 0.03 | 0.05 | 0.042 | 0.035 | 0.014 | 0.043 |
- 6-for-5 split · 12 May 2016
- 6-for-5 split · 26 Mar 2015
- 8-for-5 split · 9 May 2013
- 17-for-10 split · 8 Apr 2011
- 13-for-10 split · 7 May 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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