6.70
-0.89%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.76bn
FY2016FY2025
Net income
CN¥5.2m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
CN¥497.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.76bn | CN¥1.36bn | CN¥1.32bn | CN¥2.77bn | CN¥3.73bn | CN¥3.01bn | CN¥4.39bn | CN¥4.45bn | CN¥2.97bn | CN¥1.53bn |
| Gross profit | CN¥169.1m | CN¥33.1m | CN¥86.2m | CN¥52.9m | CN¥172.3m | CN¥89.3m | CN¥329.4m | CN¥655.5m | CN¥225.8m | −CN¥159.1m |
| Research and development | CN¥46.7m | CN¥29.3m | CN¥35.5m | CN¥41.7m | CN¥57.1m | CN¥52.5m | CN¥63.8m | CN¥72.0m | CN¥29.3m | CN¥32.7m |
| Operating income | CN¥90.5m | −CN¥48.3m | −CN¥549.2m | −CN¥441.5m | −CN¥361.1m | CN¥38.2m | −CN¥189.0m | CN¥69.1m | CN¥45.6m | −CN¥605.5m |
| Net income | CN¥5.2m | −CN¥43.7m | −CN¥566.9m | −CN¥425.0m | −CN¥368.0m | CN¥32.2m | −CN¥196.3m | CN¥92.5m | CN¥38.0m | −CN¥612.5m |
| Diluted earnings per share | 0.01 | -0.05 | -0.71 | -0.52 | -0.46 | 0.04 | -0.26 | 0.12 | 0.06 | -0.78 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.68bn | CN¥2.42bn | CN¥2.89bn | CN¥4.04bn | CN¥4.46bn | CN¥5.18bn | CN¥5.74bn | CN¥6.61bn | CN¥6.22bn | CN¥5.77bn |
| Cash and short-term investments | — | CN¥86.8m | CN¥99.1m | CN¥459.7m | CN¥475.2m | CN¥760.0m | CN¥539.9m | CN¥892.5m | CN¥879.4m | CN¥679.4m |
| Total liabilities | CN¥2.18bn | CN¥1.93bn | CN¥2.55bn | CN¥3.13bn | CN¥3.10bn | CN¥3.37bn | CN¥3.95bn | CN¥4.59bn | CN¥4.29bn | CN¥3.89bn |
| Debt | — | CN¥1.47bn | CN¥1.65bn | CN¥2.12bn | CN¥2.10bn | CN¥2.31bn | CN¥2.41bn | CN¥3.13bn | CN¥3.03bn | CN¥2.58bn |
| Shareholders' equity | CN¥497.9m | CN¥492.3m | CN¥424.0m | CN¥988.0m | CN¥1.41bn | CN¥1.78bn | CN¥1.75bn | CN¥1.94bn | CN¥1.87bn | CN¥1.82bn |
| Shares outstanding | 796m | 836m | 800m | 814m | 806m | 824m | 749m | 798m | 642m | 784m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | — | CN¥43.9m | CN¥135.0m | −CN¥11.5m | CN¥35.8m | CN¥206.9m | CN¥688.4m | CN¥369.6m | CN¥32.5m | CN¥104.4m |
| Capital spending | −CN¥4.8m | −CN¥296,977 | −CN¥5.7m | −CN¥8.5m | −CN¥52.0m | −CN¥45.4m | −CN¥77.3m | −CN¥264.6m | −CN¥294.0m | −CN¥309.8m |
| Free cash flow | — | CN¥43.6m | CN¥129.3m | −CN¥20.0m | −CN¥16.2m | CN¥161.5m | CN¥611.1m | CN¥105.0m | −CN¥261.5m | −CN¥205.4m |
| Dividends paid | −CN¥90.1m | −CN¥90.6m | −CN¥109.4m | −CN¥120.9m | −CN¥105.0m | −CN¥134.2m | −CN¥164.3m | −CN¥195.4m | −CN¥115.7m | −CN¥106.2m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥397.2m | CN¥506.1m | CN¥291.4m | CN¥351.2m | CN¥400.5m | CN¥411.0m | CN¥193.6m | CN¥315.4m |
| Gross profit | CN¥45.3m | CN¥50.8m | CN¥27.2m | −CN¥10.4m | CN¥35.3m | CN¥2.5m | CN¥5.7m | CN¥13.3m |
| Operating income | −CN¥6.8m | CN¥6.7m | −CN¥1.9m | −CN¥108.5m | −CN¥105.6m | −CN¥48.0m | CN¥213.8m | −CN¥294.9m |
| Net income | −CN¥6.7m | CN¥6.7m | CN¥5.4m | −CN¥109.1m | −CN¥104.7m | −CN¥46.8m | CN¥216.9m | −CN¥320.0m |
| Diluted earnings per share | -0.01 | 0.01 | 0.01 | -0.13 | -0.13 | -0.06 | 0.26 | -0.40 |
| Cash from operations | −CN¥31.0m | −CN¥125.0m | CN¥381.0m | −CN¥8.0m | −CN¥69.0m | CN¥124.0m | −CN¥2.0m | CN¥114.0m |
| Capital spending | — | −CN¥86.0m | — | −CN¥2.0m | −CN¥2.0m | — | — | — |
| Free cash flow | — | −CN¥211.0m | — | −CN¥10.0m | −CN¥71.0m | — | — | — |
| Total assets | CN¥2.53bn | CN¥2.33bn | CN¥2.44bn | CN¥2.42bn | CN¥2.76bn | CN¥2.79bn | CN¥2.99bn | CN¥2.89bn |
| Cash and short-term investments | CN¥232.0m | CN¥153.2m | CN¥431.2m | CN¥86.8m | CN¥89.1m | CN¥90.5m | CN¥193.0m | CN¥99.1m |
| Debt | CN¥1.44bn | CN¥1.37bn | CN¥1.45bn | CN¥1.47bn | CN¥1.51bn | CN¥1.54bn | CN¥1.71bn | CN¥1.72bn |
| Shareholders' equity | CN¥497.9m | CN¥504.5m | CN¥497.7m | CN¥492.3m | CN¥490.3m | CN¥594.8m | CN¥642.0m | CN¥424.0m |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 9.6% | 2.4% | 6.5% | 1.9% | 4.6% | 3.0% | — |
| Operating margin | 5.6% | 4.2% | -32.7% | -11.7% | -6.5% | 5.4% | — |
| Net margin | 0.3% | -3.2% | -43.0% | -15.4% | -9.9% | 1.1% | — |
| Return on equity | 1.0% | -8.9% | -133.7% | -43.0% | -26.0% | 1.8% | — |
| Return on assets | 0.2% | -1.8% | -19.6% | -10.5% | -8.3% | 0.6% | — |
| Free cash flow yield | — | 0.7% | 2.5% | -0.1% | 1.5% | 4.3% | 14.4% |
| Revenue growth | 29.9% | 2.9% | -52.4% | -25.9% | 24.1% | -31.4% | — |
| Earnings growth | -111.8% | -92.3% | 33.4% | 15.5% | -1243.7% | -116.4% | — |
| Current ratio | 1.01x | 1.01x | 0.38x | 0.55x | 0.61x | 0.69x | — |
| Debt to equity | 0.00x | 2.99x | 3.85x | 2.08x | 1.46x | 1.30x | — |
| Equity ratio | 18.6% | 20.3% | 14.7% | 24.5% | 31.7% | 34.4% | — |
| Interest coverage | 1.05x | 0.55x | -3.61x | -2.66x | -2.05x | 1.12x | — |
| R&D as a share of sales | 2.7% | 2.2% | 2.7% | 1.5% | 1.5% | 1.7% | — |
| Buybacks as a share of market value | 4.8% | -4.4% | 1.6% | -1.0% | 2.2% | -10.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.0% | -10.2% | 0.9% |
| Operating income | — | 18.8% | — |
| Net income | — | -30.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.5% | 4.7% | 4.3% | 6.0% |
| Operating margin | 1.4% | -13.2% | -9.1% | -7.9% |
| Net margin | -1.2% | -14.3% | -9.8% | -8.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -53.2 | -6.4 | -8.1 | -12.5 | 84.0 | -14.4 | 36.3 | 82.8 | -12.4 |
| Price to sales | 2.9 | 1.7 | 2.8 | 1.2 | 1.2 | 0.9 | 0.7 | 0.8 | 1.1 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jul 2013.
| FY2013 | FY2012 | FY2011 | |
|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.075 |
- 2-for-1 split · 20 Jul 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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