B 
7.30
+2.10%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.46bn
FY2016FY2025
Net income
−CN¥86.8m
FY2016FY2025
Free cash flow
CN¥189.8m
FY2016FY2025
Shareholders' equity
CN¥3.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.46bn | CN¥1.24bn | CN¥1.27bn | CN¥1.36bn | CN¥1.62bn | CN¥1.22bn | CN¥1.12bn | CN¥994.0m | CN¥767.2m | CN¥530.5m |
| Gross profit | CN¥463.5m | CN¥326.1m | CN¥222.2m | CN¥369.7m | CN¥608.0m | CN¥547.9m | CN¥495.0m | CN¥435.1m | CN¥362.0m | CN¥271.0m |
| Research and development | CN¥209.9m | CN¥203.4m | CN¥193.2m | CN¥230.6m | CN¥169.6m | CN¥154.1m | CN¥121.9m | CN¥91.9m | CN¥49.3m | CN¥46.2m |
| Operating income | CN¥26.3m | −CN¥424.3m | −CN¥447.9m | −CN¥937.9m | −CN¥201.3m | CN¥259.8m | CN¥190.9m | CN¥170.2m | CN¥156.0m | CN¥125.3m |
| Net income | −CN¥86.8m | −CN¥396.0m | −CN¥443.0m | −CN¥935.4m | −CN¥240.8m | CN¥172.4m | CN¥136.5m | CN¥136.3m | CN¥122.6m | CN¥105.3m |
| Diluted earnings per share | -0.08 | -0.32 | -0.28 | -0.72 | -0.22 | 0.19 | 0.16 | 0.14 | 0.10 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.16bn | CN¥4.94bn | CN¥5.29bn | CN¥5.97bn | CN¥6.45bn | CN¥5.84bn | CN¥4.58bn | CN¥4.57bn | CN¥4.10bn | CN¥3.73bn |
| Cash and short-term investments | — | CN¥675.1m | CN¥631.0m | CN¥656.8m | CN¥665.9m | CN¥372.1m | CN¥343.8m | CN¥808.1m | CN¥802.3m | CN¥488.9m |
| Total liabilities | CN¥1.87bn | CN¥1.47bn | CN¥1.43bn | CN¥1.74bn | CN¥1.49bn | CN¥1.77bn | CN¥891.9m | CN¥555.2m | CN¥415.7m | CN¥236.6m |
| Debt | CN¥14.9m | CN¥259.9m | CN¥418.4m | CN¥592.3m | CN¥351.6m | CN¥900.7m | CN¥274.3m | CN¥165.7m | CN¥103.6m | CN¥1.1m |
| Shareholders' equity | CN¥3.29bn | CN¥3.44bn | CN¥3.82bn | CN¥4.17bn | CN¥4.95bn | CN¥4.07bn | CN¥3.60bn | CN¥3.94bn | CN¥3.61bn | CN¥3.46bn |
| Shares outstanding | 1,105m | 1,247m | 1,576m | 1,299m | 1,099m | 906m | 868m | 999m | 1,196m | 1,002m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥248.3m | CN¥253.6m | CN¥64.8m | −CN¥63.6m | −CN¥115.0m | −CN¥43.1m | CN¥104.7m | CN¥25.1m | −CN¥159.8m | −CN¥193.7m |
| Capital spending | −CN¥58.5m | −CN¥82.6m | −CN¥42.7m | −CN¥106.4m | −CN¥168.4m | −CN¥87.8m | −CN¥155.2m | −CN¥137.0m | −CN¥72.1m | −CN¥58.0m |
| Free cash flow | CN¥189.8m | CN¥171.0m | CN¥22.1m | −CN¥170.0m | −CN¥283.4m | −CN¥130.9m | −CN¥50.5m | −CN¥111.9m | −CN¥231.9m | −CN¥251.7m |
| Dividends paid | −CN¥4.5m | −CN¥5.4m | −CN¥11.7m | −CN¥15.9m | −CN¥32.0m | −CN¥23.4m | −CN¥10.2m | −CN¥42.7m | −CN¥34.8m | −CN¥177.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥290.9m | CN¥270.5m | CN¥523.3m | CN¥391.6m | CN¥328.0m | CN¥213.8m | CN¥545.8m | CN¥203.0m |
| Gross profit | CN¥115.7m | CN¥91.0m | CN¥128.0m | CN¥147.6m | CN¥117.8m | CN¥70.1m | CN¥65.2m | CN¥99.9m |
| Operating income | CN¥6.1m | CN¥6.6m | CN¥4.2m | −CN¥50.2m | CN¥8.5m | −CN¥34.3m | −CN¥299.7m | −CN¥62.4m |
| Net income | −CN¥2.2m | −CN¥15.9m | CN¥3.8m | −CN¥48.9m | −CN¥4.9m | −CN¥36.8m | −CN¥261.6m | −CN¥68.0m |
| Diluted earnings per share | -0.00 | -0.01 | 0.00 | -0.04 | -0.00 | -0.03 | -0.21 | -0.05 |
| Cash from operations | — | — | — | — | CN¥18.0m | −CN¥133.0m | CN¥274.0m | −CN¥40.0m |
| Capital spending | −CN¥22.0m | −CN¥13.0m | −CN¥28.0m | −CN¥7.0m | −CN¥9.0m | −CN¥12.0m | −CN¥59.0m | −CN¥18.0m |
| Free cash flow | — | — | — | — | CN¥9.0m | −CN¥145.0m | CN¥215.0m | −CN¥58.0m |
| Total assets | CN¥5.19bn | CN¥4.96bn | CN¥5.16bn | CN¥5.09bn | CN¥4.82bn | CN¥4.77bn | CN¥4.94bn | CN¥4.98bn |
| Cash and short-term investments | — | — | — | CN¥463.6m | CN¥500.8m | CN¥478.3m | CN¥675.1m | CN¥386.6m |
| Debt | CN¥79.5m | — | CN¥14.9m | CN¥252.1m | CN¥172.0m | CN¥170.9m | CN¥202.1m | CN¥181.6m |
| Shareholders' equity | CN¥3.29bn | CN¥3.29bn | CN¥3.29bn | CN¥3.35bn | CN¥3.40bn | CN¥3.40bn | CN¥3.44bn | CN¥3.68bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.8% | 26.2% | 17.5% | 27.1% | 37.5% | 45.1% |
| Operating margin | 1.8% | -34.2% | -35.3% | -68.8% | -12.4% | 21.4% |
| Net margin | -6.0% | -31.9% | -34.9% | -68.6% | -14.8% | 14.2% |
| Return on equity | -2.6% | -11.5% | -11.6% | -22.4% | -4.9% | 4.2% |
| Return on assets | -1.7% | -8.0% | -8.4% | -15.7% | -3.7% | 3.0% |
| Free cash flow yield | 3.0% | 2.9% | 0.7% | 0.4% | 0.5% | 0.5% |
| Revenue growth | 17.3% | -2.1% | -6.9% | -15.9% | 33.5% | 8.1% |
| Earnings growth | -78.1% | -10.6% | -52.6% | 288.5% | -239.7% | 26.2% |
| Current ratio | 1.85x | 2.24x | 2.38x | 2.19x | 2.43x | 1.91x |
| Debt to equity | 0.00x | 0.06x | 0.09x | 0.12x | 0.07x | 0.21x |
| Equity ratio | 63.8% | 69.6% | 72.4% | 70.0% | 76.7% | 69.7% |
| Interest coverage | 3.19x | -42.58x | -24.15x | -40.32x | -7.76x | 8.04x |
| R&D as a share of sales | 14.4% | 16.4% | 15.2% | 16.9% | 10.5% | 12.7% |
| Buybacks as a share of market value | 11.4% | 20.9% | -21.3% | -18.2% | -21.2% | -4.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.2% | 3.7% | -3.3% |
| Operating income | — | -36.7% | -13.3% |
| Net income | -54.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.3% | 25.9% | 31.1% | 32.2% |
| Operating margin | -14.7% | -33.5% | -21.1% | -7.1% |
| Net margin | -17.9% | -34.9% | -23.6% | -9.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -159.9 | -13.7 | -19.2 | -6.1 | -33.9 | 37.2 | 34.6 | 39.2 | 97.6 | 110.2 |
| Price to sales | 9.5 | 4.4 | 6.7 | 4.2 | 5.0 | 5.3 | 4.2 | 5.4 | 15.6 | 21.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jun 2018.
| FY2018 | FY2017 | FY2016 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.03 | 0.177 | 0.032 | 0.032 | 0.032 | 0.022 |
- 3.1-for-1 split · 13 May 2016
- 3-for-2 split · 10 Oct 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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