T 
7.00
+10.06%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.09bn
FY2016FY2025
Net income
−CN¥94.9m
FY2016FY2025
Free cash flow
CN¥26.4m
FY2016FY2025
Shareholders' equity
CN¥1.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.09bn | CN¥1.07bn | CN¥1.11bn | CN¥1.08bn | CN¥1.06bn | CN¥812.0m | CN¥818.4m | CN¥746.3m | CN¥438.3m | CN¥394.3m |
| Gross profit | CN¥147.4m | CN¥201.0m | CN¥151.9m | CN¥139.8m | CN¥200.6m | CN¥186.8m | CN¥202.6m | CN¥199.2m | CN¥143.4m | CN¥136.9m |
| Research and development | CN¥71.1m | CN¥70.4m | CN¥58.8m | CN¥57.9m | CN¥56.1m | CN¥45.3m | CN¥45.5m | CN¥31.3m | CN¥14.7m | CN¥10.2m |
| Operating income | −CN¥75.6m | CN¥30.7m | −CN¥32.4m | −CN¥41.7m | CN¥34.9m | CN¥37.1m | CN¥32.1m | CN¥21.3m | −CN¥94.0m | CN¥6.3m |
| Net income | −CN¥94.9m | CN¥14.6m | −CN¥42.5m | −CN¥38.6m | CN¥18.2m | CN¥26.4m | CN¥25.2m | CN¥20.1m | −CN¥74.2m | CN¥10.6m |
| Diluted earnings per share | -0.19 | 0.03 | -0.08 | -0.08 | 0.04 | 0.06 | 0.06 | 0.04 | -0.19 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.39bn | CN¥2.57bn | CN¥2.48bn | CN¥2.54bn | CN¥2.60bn | CN¥2.06bn | CN¥2.19bn | CN¥2.22bn | CN¥2.00bn | CN¥1.80bn |
| Cash and short-term investments | — | CN¥411.1m | CN¥375.2m | CN¥385.2m | CN¥526.9m | CN¥257.0m | CN¥313.2m | CN¥275.7m | CN¥252.6m | CN¥258.5m |
| Total liabilities | CN¥1.26bn | CN¥1.33bn | CN¥1.26bn | CN¥1.28bn | CN¥1.22bn | CN¥895.9m | CN¥1.01bn | CN¥1.07bn | CN¥862.3m | CN¥603.3m |
| Debt | CN¥101.5m | CN¥118.8m | CN¥145.7m | CN¥146.8m | CN¥163.4m | CN¥200.3m | CN¥253.6m | CN¥347.7m | CN¥271.4m | CN¥202.4m |
| Shareholders' equity | CN¥1.11bn | CN¥1.21bn | CN¥1.19bn | CN¥1.24bn | CN¥1.34bn | CN¥1.14bn | CN¥1.15bn | CN¥1.14bn | CN¥1.13bn | CN¥1.22bn |
| Shares outstanding | 504m | 507m | 510m | 503m | 487m | 451m | 443m | 449m | 398m | 446m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥72.5m | −CN¥2.8m | CN¥80.1m | CN¥108.7m | CN¥65.0m | CN¥65.4m | CN¥94.2m | CN¥854,862 | −CN¥40.6m | CN¥4.7m |
| Capital spending | −CN¥46.1m | −CN¥34.4m | −CN¥70.9m | −CN¥81.7m | −CN¥22.3m | −CN¥10.0m | −CN¥26.8m | −CN¥62.4m | −CN¥15.9m | −CN¥12.9m |
| Free cash flow | CN¥26.4m | −CN¥37.2m | CN¥9.2m | CN¥27.0m | CN¥42.8m | CN¥55.4m | CN¥67.4m | −CN¥61.5m | −CN¥56.6m | −CN¥8.2m |
| Dividends paid | −CN¥14.8m | −CN¥3.1m | −CN¥3.4m | −CN¥4.7m | −CN¥44.7m | −CN¥44.7m | −CN¥9.5m | −CN¥8.4m | −CN¥6.6m | −CN¥5.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥307.3m | CN¥261.5m | CN¥267.2m | CN¥262.3m | CN¥250.9m | CN¥309.8m | CN¥336.6m | CN¥255.3m |
| Gross profit | CN¥52.1m | CN¥48.7m | CN¥26.1m | CN¥31.7m | CN¥46.0m | CN¥43.7m | CN¥42.8m | CN¥54.0m |
| Operating income | −CN¥6.7m | CN¥4.0m | −CN¥40.1m | −CN¥37.4m | −CN¥11.8m | −CN¥7.8m | CN¥37.9m | −CN¥953,032 |
| Net income | −CN¥12.1m | −CN¥7.6m | −CN¥41.3m | −CN¥34.3m | −CN¥10.1m | −CN¥9.2m | CN¥30.4m | −CN¥5.9m |
| Diluted earnings per share | -0.02 | -0.02 | -0.08 | -0.07 | -0.02 | -0.02 | 0.06 | -0.01 |
| Cash from operations | — | — | — | −CN¥25.0m | CN¥5.0m | −CN¥76.0m | CN¥84.0m | −CN¥46.0m |
| Capital spending | −CN¥1.0m | −CN¥1.0m | −CN¥38.0m | −CN¥1.0m | −CN¥1.0m | −CN¥4.0m | −CN¥21.0m | −CN¥5.0m |
| Free cash flow | — | — | — | −CN¥26.0m | CN¥4.0m | −CN¥80.0m | CN¥63.0m | −CN¥51.0m |
| Total assets | CN¥2.41bn | CN¥2.36bn | CN¥2.39bn | CN¥2.41bn | CN¥2.37bn | CN¥2.49bn | CN¥2.57bn | CN¥2.52bn |
| Cash and short-term investments | — | — | — | CN¥333.6m | CN¥359.4m | CN¥359.8m | CN¥411.1m | CN¥321.9m |
| Debt | CN¥98.0m | CN¥100.0m | CN¥101.5m | CN¥331.7m | CN¥143.8m | CN¥127.3m | CN¥104.8m | CN¥383.4m |
| Shareholders' equity | CN¥1.09bn | CN¥1.10bn | CN¥1.11bn | CN¥1.14bn | CN¥1.18bn | CN¥1.20bn | CN¥1.21bn | CN¥1.18bn |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.5% | 18.7% | 13.7% | 12.9% | 18.9% | 23.0% |
| Operating margin | -8.4% | 3.7% | -2.3% | -2.6% | 3.6% | 5.4% |
| Net margin | -8.7% | 1.4% | -3.8% | -3.6% | 1.7% | 3.3% |
| Return on equity | -8.5% | 1.2% | -3.6% | -3.1% | 1.4% | 2.3% |
| Return on assets | -4.0% | 0.6% | -1.7% | -1.5% | 0.7% | 1.3% |
| Free cash flow yield | 3.9% | 1.0% | 4.9% | 6.2% | 2.9% | 2.7% |
| Revenue growth | 1.5% | -3.0% | 2.2% | 2.2% | 30.5% | -0.8% |
| Earnings growth | -750.7% | -134.3% | 10.2% | -312.0% | -31.2% | 4.9% |
| Current ratio | 1.58x | 1.54x | 1.52x | 1.64x | 1.82x | 1.87x |
| Debt to equity | 0.09x | 0.09x | 0.11x | 0.11x | 0.12x | 0.18x |
| Equity ratio | 46.6% | 47.1% | 48.1% | 48.6% | 51.4% | 55.1% |
| Interest coverage | -16.98x | 9.14x | -4.01x | -4.68x | 8.94x | 5.97x |
| R&D as a share of sales | 6.5% | 6.6% | 5.3% | 5.4% | 5.3% | 5.6% |
| Buybacks as a share of market value | 0.6% | 0.6% | -1.5% | -3.2% | -8.2% | -1.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.2% | 6.1% | 11.2% |
| Operating income | 21.9% | — | 51.1% |
| Net income | 35.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.1% | 14.7% | 16.5% | 20.4% |
| Operating margin | -2.1% | -2.7% | -0.8% | -0.9% |
| Net margin | -3.7% | -3.7% | -1.9% | -1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -65.7 | 234.3 | -76.2 | -58.7 | 136.3 | 73.3 | 79.2 | 82.2 | -34.0 | — |
| Price to sales | 5.7 | 3.2 | 2.9 | 2.1 | 2.3 | 2.4 | 2.4 | 2.2 | 5.8 | 15.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jul 2021.
| FY2021 | FY2020 | FY2015 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.10 | 0.015 | 0.014 | 0.083 | 0.056 | 0.056 |
- 2-for-1 split · 23 Sept 2016
- 9-for-5 split · 2 Apr 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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