S 
3.04
0.00%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.02bn
FY2016FY2025
Net income
−CN¥653.2m
FY2016FY2025
Free cash flow
−CN¥150.3m
FY2016FY2025
Shareholders' equity
CN¥2.73bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.02bn | CN¥3.17bn | CN¥3.83bn | CN¥3.59bn | CN¥3.16bn | CN¥3.21bn | CN¥2.21bn | CN¥2.53bn | CN¥2.57bn | CN¥2.46bn |
| Gross profit | CN¥410.1m | CN¥859.6m | CN¥891.5m | CN¥958.0m | CN¥944.0m | CN¥968.7m | CN¥693.0m | CN¥807.8m | CN¥836.9m | CN¥749.2m |
| Research and development | CN¥56.4m | CN¥77.7m | CN¥88.7m | CN¥85.6m | CN¥107.9m | CN¥80.3m | CN¥52.1m | CN¥67.5m | CN¥87.1m | CN¥79.7m |
| Operating income | — | CN¥28.7m | CN¥118.3m | CN¥318.9m | −CN¥526.5m | CN¥362.0m | −CN¥343.3m | CN¥259.7m | CN¥394.0m | CN¥324.5m |
| Net income | −CN¥653.2m | CN¥25.9m | CN¥114.8m | CN¥211.8m | −CN¥499.7m | CN¥315.3m | −CN¥342.9m | CN¥216.8m | CN¥311.8m | CN¥275.5m |
| Diluted earnings per share | -0.31 | 0.01 | 0.05 | 0.11 | -0.26 | 0.16 | -0.18 | 0.11 | 0.16 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.44bn | CN¥9.64bn | CN¥9.67bn | CN¥9.16bn | CN¥8.49bn | CN¥7.99bn | CN¥6.44bn | CN¥6.77bn | CN¥5.46bn | CN¥4.83bn |
| Cash and short-term investments | — | CN¥1.63bn | CN¥1.73bn | CN¥1.67bn | CN¥1.40bn | CN¥1.32bn | CN¥970.4m | CN¥937.4m | CN¥711.0m | CN¥676.0m |
| Total liabilities | CN¥4.68bn | CN¥6.07bn | CN¥6.08bn | CN¥6.26bn | CN¥5.80bn | CN¥4.81bn | CN¥3.65bn | CN¥3.44bn | CN¥2.19bn | CN¥1.85bn |
| Debt | CN¥2.09bn | CN¥2.75bn | CN¥3.56bn | CN¥3.21bn | CN¥3.12bn | CN¥2.30bn | CN¥1.73bn | CN¥1.78bn | CN¥619.2m | CN¥469.9m |
| Shareholders' equity | CN¥2.73bn | CN¥3.40bn | CN¥3.42bn | CN¥2.73bn | CN¥2.51bn | CN¥3.09bn | CN¥2.82bn | CN¥3.21bn | CN¥3.10bn | CN¥2.81bn |
| Shares outstanding | 2,121m | 2,121m | 2,121m | 1,882m | 1,911m | 1,933m | 1,914m | 1,921m | 1,923m | 1,928m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥60.2m | CN¥47.0m | CN¥49.2m | CN¥782.3m | CN¥43.7m | CN¥282.9m | CN¥474.0m | −CN¥191.0m | CN¥210.1m | −CN¥14.8m |
| Capital spending | −CN¥90.1m | −CN¥256.0m | −CN¥426.9m | −CN¥482.0m | −CN¥739.6m | −CN¥588.4m | −CN¥524.7m | −CN¥463.2m | −CN¥203.5m | −CN¥102.7m |
| Free cash flow | −CN¥150.3m | −CN¥209.1m | −CN¥377.8m | CN¥300.4m | −CN¥695.9m | −CN¥305.5m | −CN¥50.8m | −CN¥654.2m | CN¥6.6m | −CN¥117.5m |
| Dividends paid | −CN¥116.0m | −CN¥178.1m | −CN¥127.2m | −CN¥159.4m | −CN¥206.7m | −CN¥134.1m | −CN¥68.0m | −CN¥87.6m | −CN¥69.6m | −CN¥39.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥575.6m | CN¥516.0m | CN¥551.6m | CN¥482.8m | CN¥552.7m | CN¥437.5m | CN¥1.02bn | CN¥793.2m |
| Gross profit | CN¥152.2m | CN¥127.4m | CN¥34.4m | CN¥130.4m | CN¥125.2m | CN¥117.4m | CN¥270.5m | CN¥232.4m |
| Operating income | CN¥3.4m | −CN¥6.1m | −CN¥159.0m | −CN¥30.1m | −CN¥57.5m | −CN¥26.4m | −CN¥31.0m | CN¥43.8m |
| Net income | −CN¥2.0m | −CN¥16.2m | −CN¥238.5m | −CN¥325.9m | −CN¥47.3m | −CN¥41.5m | −CN¥22.1m | CN¥38.7m |
| Diluted earnings per share | -0.00 | -0.01 | -0.11 | -0.15 | -0.02 | -0.02 | -0.01 | 0.02 |
| Cash from operations | — | — | — | −CN¥103.0m | −CN¥45.0m | −CN¥239.0m | CN¥342.0m | −CN¥4.0m |
| Capital spending | −CN¥7.0m | −CN¥1.0m | −CN¥16.0m | −CN¥15.0m | −CN¥43.0m | −CN¥14.0m | −CN¥9.0m | −CN¥42.0m |
| Free cash flow | — | — | — | −CN¥118.0m | −CN¥88.0m | −CN¥253.0m | CN¥333.0m | −CN¥46.0m |
| Total assets | CN¥7.33bn | CN¥7.32bn | CN¥7.44bn | CN¥7.48bn | CN¥9.09bn | CN¥9.27bn | CN¥9.64bn | CN¥9.54bn |
| Cash and short-term investments | — | — | — | CN¥1.30bn | CN¥1.24bn | CN¥1.37bn | CN¥1.63bn | CN¥1.38bn |
| Debt | CN¥1.90bn | CN¥2.02bn | CN¥2.09bn | CN¥613.2m | CN¥2.77bn | CN¥2.73bn | CN¥2.75bn | CN¥2.92bn |
| Shareholders' equity | CN¥2.71bn | CN¥2.72bn | CN¥2.73bn | CN¥2.97bn | CN¥3.30bn | CN¥3.35bn | CN¥3.40bn | CN¥3.41bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 20.3% | 27.1% | 23.3% | 26.7% | 29.8% | 30.2% |
| Operating margin | -32.3% | 2.7% | 3.1% | 3.3% | -5.6% | 12.0% |
| Net margin | -32.3% | 0.8% | 3.0% | 5.9% | -15.8% | 9.8% |
| Return on equity | -23.9% | 0.8% | 3.4% | 7.8% | -19.9% | 10.2% |
| Return on assets | -8.8% | 0.3% | 1.2% | 2.3% | -5.9% | 3.9% |
| Free cash flow yield | 0.4% | 4.4% | 7.0% | 20.9% | 12.7% | 14.0% |
| Revenue growth | -36.1% | -17.3% | 6.6% | 13.6% | -1.5% | 45.6% |
| Earnings growth | -2623.9% | -77.5% | -45.8% | -142.4% | -258.5% | -191.9% |
| Current ratio | 1.70x | 1.53x | 1.49x | 1.30x | 1.42x | 1.70x |
| Debt to equity | 0.76x | 0.81x | 1.04x | 1.18x | 1.24x | 0.74x |
| Equity ratio | 36.7% | 35.2% | 35.3% | 29.8% | 29.6% | 38.7% |
| Interest coverage | -6.26x | 0.64x | 1.24x | 1.43x | -2.40x | 5.44x |
| R&D as a share of sales | 2.8% | 2.5% | 2.3% | 2.4% | 3.4% | 2.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | -12.7% | 1.5% | 1.1% | -1.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.4% | -8.8% | 1.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.4% | 24.7% | 26.5% | 28.3% |
| Net margin | -12.1% | -2.4% | -2.6% | 0.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.3 | 281.0 | 59.5 | 30.8 | -14.8 | 21.9 | -20.2 | 34.7 | 37.3 | 46.0 |
| Price to sales | 3.0 | 2.3 | 1.8 | 1.8 | 2.3 | 2.2 | 3.1 | 3.0 | 4.5 | 5.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 3 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.005 | 0.02 | 0.06 | 0.04 | 0.03 | 0.03 | 0.03 | 0.017 |
- 3-for-1 split · 18 Oct 2016
- 11-for-5 split · 12 May 2015
- 2-for-1 split · 16 Oct 2012
- 13-for-10 split · 29 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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