H 
16.52
+1.04%
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¥1.89bn
FY2016FY2025
Net income
−CN¥195.9m
FY2016FY2025
Free cash flow
−CN¥137.5m
FY2016FY2025
Shareholders' equity
CN¥948.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.89bn | CN¥1.82bn | CN¥1.45bn | CN¥1.40bn | CN¥1.61bn | CN¥1.56bn | CN¥1.10bn | CN¥747.3m | CN¥604.4m | CN¥415.6m |
| Gross profit | CN¥773.4m | CN¥735.0m | CN¥590.2m | CN¥530.5m | CN¥796.2m | CN¥835.9m | CN¥447.7m | CN¥270.7m | CN¥281.4m | CN¥195.4m |
| Research and development | CN¥285.1m | CN¥263.3m | CN¥245.9m | CN¥199.5m | CN¥182.8m | CN¥143.9m | CN¥129.5m | CN¥105.9m | CN¥92.9m | CN¥63.6m |
| Operating income | −CN¥148.4m | −CN¥104.1m | −CN¥165.3m | −CN¥173.7m | CN¥110.2m | CN¥211.0m | CN¥43.9m | CN¥18.4m | CN¥50.3m | CN¥12.4m |
| Net income | −CN¥195.9m | −CN¥110.2m | −CN¥134.8m | −CN¥135.6m | CN¥54.1m | CN¥104.0m | CN¥37.4m | CN¥15.9m | CN¥43.3m | CN¥21.3m |
| Diluted earnings per share | -0.80 | -0.45 | -0.55 | -0.56 | 0.22 | 0.48 | 0.17 | 0.08 | 0.21 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.93bn | CN¥1.95bn | CN¥1.90bn | CN¥2.02bn | CN¥2.19bn | CN¥2.10bn | CN¥1.30bn | CN¥1.16bn | CN¥1.07bn | CN¥938.7m |
| Cash and short-term investments | — | CN¥669.2m | CN¥723.1m | CN¥916.3m | CN¥967.3m | CN¥1.05bn | CN¥519.5m | CN¥151.4m | CN¥457.1m | CN¥416.8m |
| Total liabilities | CN¥835.6m | CN¥675.8m | CN¥516.3m | CN¥438.3m | CN¥429.8m | CN¥437.0m | CN¥343.3m | CN¥273.6m | CN¥219.9m | CN¥156.5m |
| Debt | CN¥10.5m | CN¥149.8m | CN¥77.2m | CN¥80.1m | CN¥42.6m | CN¥12.2m | CN¥10.0m | CN¥19.0m | CN¥5.0m | — |
| Shareholders' equity | CN¥948.9m | CN¥1.14bn | CN¥1.25bn | CN¥1.39bn | CN¥1.53bn | CN¥1.50bn | CN¥858.9m | CN¥853.7m | CN¥820.3m | CN¥767.4m |
| Shares outstanding | 245m | 245m | 244m | 244m | 245m | 217m | 217m | 210m | 209m | 214m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥37.5m | CN¥31.9m | −CN¥62.7m | −CN¥35.9m | −CN¥69.3m | CN¥18.7m | CN¥88.2m | −CN¥16.9m | CN¥41.5m | CN¥51.9m |
| Capital spending | −CN¥99.9m | −CN¥140.7m | −CN¥116.7m | −CN¥67.1m | −CN¥74.4m | −CN¥44.8m | −CN¥20.4m | −CN¥20.7m | −CN¥6.6m | −CN¥12.6m |
| Free cash flow | −CN¥137.5m | −CN¥108.8m | −CN¥179.4m | −CN¥103.1m | −CN¥143.7m | −CN¥26.0m | CN¥67.8m | −CN¥37.6m | CN¥34.9m | CN¥39.4m |
| Dividends paid | −CN¥7.1m | −CN¥3.4m | −CN¥2.7m | −CN¥2.7m | −CN¥547,000 | −CN¥7.0m | −CN¥757,000 | −CN¥585,000 | −CN¥91,246 | −CN¥585,269 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥422.6m | CN¥410.3m | CN¥629.5m | CN¥446.3m | CN¥426.6m | CN¥386.6m | CN¥670.5m | CN¥432.0m |
| Gross profit | CN¥168.8m | CN¥173.6m | CN¥232.3m | CN¥188.1m | CN¥181.9m | CN¥171.1m | CN¥250.7m | CN¥188.2m |
| Operating income | −CN¥42.2m | −CN¥29.1m | −CN¥63.5m | −CN¥34.2m | −CN¥39.1m | −CN¥9.7m | −CN¥20.8m | −CN¥21.2m |
| Net income | −CN¥43.9m | −CN¥42.3m | −CN¥104.8m | −CN¥34.5m | −CN¥42.9m | −CN¥13.8m | −CN¥35.1m | −CN¥24.2m |
| Diluted earnings per share | -0.18 | -0.17 | -0.43 | -0.14 | -0.18 | -0.06 | -0.14 | -0.10 |
| Cash from operations | — | — | — | −CN¥42.0m | −CN¥69.0m | −CN¥102.0m | CN¥132.0m | −CN¥9.0m |
| Capital spending | −CN¥20.0m | −CN¥19.0m | −CN¥26.0m | −CN¥23.0m | −CN¥23.0m | −CN¥26.0m | −CN¥32.0m | −CN¥32.0m |
| Free cash flow | — | — | — | −CN¥65.0m | −CN¥92.0m | −CN¥128.0m | CN¥100.0m | −CN¥41.0m |
| Total assets | CN¥1.88bn | CN¥1.91bn | CN¥1.93bn | CN¥1.92bn | CN¥1.94bn | CN¥1.91bn | CN¥1.95bn | CN¥1.80bn |
| Cash and short-term investments | — | — | — | CN¥553.8m | CN¥613.1m | CN¥640.8m | CN¥669.2m | CN¥549.8m |
| Debt | CN¥49.5m | CN¥60.0m | CN¥10.5m | CN¥346.0m | CN¥314.2m | CN¥247.3m | CN¥143.5m | CN¥113.8m |
| Shareholders' equity | CN¥864.5m | CN¥907.5m | CN¥948.9m | CN¥1.05bn | CN¥1.09bn | CN¥1.13bn | CN¥1.14bn | CN¥1.18bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 40.9% | 40.4% | 40.7% | 37.9% | 49.4% | 53.7% |
| Operating margin | -9.5% | -5.4% | -11.4% | -12.1% | 7.0% | 13.8% |
| Net margin | -10.4% | -6.1% | -9.3% | -9.7% | 3.4% | 6.7% |
| Return on equity | -20.6% | -9.7% | -10.8% | -9.7% | 3.5% | 6.9% |
| Return on assets | -10.2% | -5.6% | -7.1% | -6.7% | 2.5% | 5.0% |
| Free cash flow yield | 1.7% | 4.6% | 1.4% | 0.8% | 0.1% | 1.9% |
| Revenue growth | 4.0% | 25.3% | 3.6% | -13.2% | 3.7% | 40.8% |
| Earnings growth | 77.9% | -18.3% | -0.7% | -350.8% | -48.0% | 177.8% |
| Current ratio | 1.77x | 2.17x | 2.88x | 3.91x | 4.27x | 4.15x |
| Debt to equity | 0.01x | 0.13x | 0.06x | 0.05x | 0.02x | -0.05x |
| Equity ratio | 49.2% | 58.4% | 66.0% | 68.9% | 69.9% | 71.7% |
| Interest coverage | -21.57x | -18.99x | -42.39x | -42.89x | 49.80x | 182.27x |
| R&D as a share of sales | 15.1% | 14.5% | 17.0% | 14.2% | 11.3% | 9.3% |
| Buybacks as a share of market value | 0.0% | -0.1% | -0.1% | 0.1% | -12.6% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.5% | 4.0% | 17.9% |
| Operating income | -5.1% | — | 35.7% |
| Net income | 13.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.7% | 40.1% | 43.8% | 43.4% |
| Operating margin | -6.8% | -9.0% | -2.8% | -1.2% |
| Net margin | -8.3% | -8.8% | -4.3% | -2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -27.0 | -50.3 | -46.5 | -28.0 | 77.9 | 51.0 | 92.6 | 176.5 | 118.4 | 226.6 |
| Price to sales | 2.8 | 3.0 | 4.3 | 2.7 | 2.6 | 3.4 | 3.1 | 3.8 | 8.5 | 11.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 28 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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