J 
6.25
-5.30%
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¥388.8m
FY2016FY2025
Net income
−CN¥185.6m
FY2016FY2025
Free cash flow
−CN¥8.9m
FY2016FY2025
Shareholders' equity
CN¥100.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥388.8m | CN¥187.4m | CN¥316.6m | CN¥363.9m | CN¥253.9m | CN¥300.3m | CN¥217.7m | CN¥240.6m | CN¥272.2m | CN¥205.2m |
| Gross profit | CN¥35.5m | −CN¥30.2m | CN¥1.3m | −CN¥8.2m | −CN¥23.1m | CN¥34.9m | −CN¥110.4m | CN¥6.6m | CN¥79.2m | CN¥55.9m |
| Research and development | CN¥16.1m | CN¥17.7m | CN¥18.5m | CN¥21.0m | CN¥19.1m | CN¥20.7m | CN¥26.8m | CN¥54.6m | CN¥21.6m | CN¥1.9m |
| Operating income | −CN¥78.6m | −CN¥147.0m | −CN¥127.0m | −CN¥145.8m | −CN¥115.5m | CN¥52.0m | −CN¥464.5m | −CN¥188.6m | CN¥7.5m | −CN¥53.0m |
| Net income | −CN¥185.6m | −CN¥159.9m | −CN¥145.0m | −CN¥149.6m | −CN¥113.6m | CN¥32.9m | −CN¥535.5m | −CN¥175.1m | CN¥7.0m | −CN¥38.2m |
| Diluted earnings per share | -0.71 | -0.62 | -0.56 | -0.58 | -0.44 | 0.13 | -2.06 | -0.67 | 0.03 | -0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥697.8m | CN¥871.8m | CN¥1.10bn | CN¥1.27bn | CN¥1.06bn | CN¥1.23bn | CN¥1.47bn | CN¥1.92bn | CN¥1.90bn | CN¥1.90bn |
| Cash and short-term investments | — | CN¥13.5m | CN¥42.3m | CN¥66.3m | CN¥25.3m | CN¥99.7m | CN¥52.6m | CN¥140.0m | CN¥227.7m | CN¥437.3m |
| Total liabilities | CN¥597.8m | CN¥580.8m | CN¥646.6m | CN¥679.4m | CN¥309.1m | CN¥377.4m | CN¥643.4m | CN¥528.4m | CN¥331.2m | CN¥337.6m |
| Debt | CN¥58.8m | CN¥138.1m | CN¥225.6m | CN¥189.3m | CN¥68.3m | CN¥101.2m | CN¥366.2m | CN¥353.7m | CN¥210.0m | CN¥235.0m |
| Shareholders' equity | CN¥100.0m | CN¥291.0m | CN¥449.7m | CN¥594.7m | CN¥748.5m | CN¥856.9m | CN¥823.1m | CN¥1.39bn | CN¥1.57bn | CN¥1.56bn |
| Shares outstanding | 260m | 260m | 260m | 260m | 260m | 259m | 260m | 261m | 258m | 148m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥4.9m | −CN¥30.0m | −CN¥28.8m | CN¥105.0m | −CN¥5.8m | CN¥154.4m | −CN¥119.6m | −CN¥150.5m | −CN¥39.2m | −CN¥123.8m |
| Capital spending | −CN¥4.0m | −CN¥25.9m | −CN¥26.8m | −CN¥98.7m | −CN¥103.2m | −CN¥27.5m | −CN¥6.4m | −CN¥87.2m | −CN¥131.1m | −CN¥122.3m |
| Free cash flow | −CN¥8.9m | −CN¥55.9m | −CN¥55.6m | CN¥6.3m | −CN¥109.0m | CN¥126.9m | −CN¥126.0m | −CN¥237.6m | −CN¥170.3m | −CN¥246.1m |
| Dividends paid | −CN¥5.7m | −CN¥9.3m | −CN¥8.3m | −CN¥4.9m | −CN¥2.3m | −CN¥15.0m | −CN¥17.2m | −CN¥13.2m | −CN¥10.3m | −CN¥7.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥67.9m | CN¥107.7m | CN¥111.1m | CN¥71.5m | CN¥109.7m | CN¥96.4m | CN¥64.6m | CN¥18.9m |
| Gross profit | −CN¥1.6m | CN¥964,799 | −CN¥597,845 | CN¥3.8m | −CN¥7.9m | −CN¥3.8m | −CN¥24.5m | CN¥2.3m |
| Operating income | −CN¥17.3m | −CN¥11.9m | −CN¥18.0m | −CN¥27.8m | −CN¥38.6m | −CN¥21.7m | −CN¥113.6m | CN¥12.1m |
| Net income | −CN¥28.3m | −CN¥20.3m | −CN¥95.2m | −CN¥24.6m | −CN¥42.5m | −CN¥23.3m | −CN¥117.9m | CN¥8.2m |
| Diluted earnings per share | -0.11 | -0.08 | -0.37 | -0.09 | -0.16 | -0.09 | -0.45 | 0.03 |
| Cash from operations | — | — | — | CN¥32.0m | −CN¥41.0m | CN¥18.0m | — | −CN¥16.0m |
| Capital spending | −CN¥16.0m | −CN¥5.0m | −CN¥3.0m | — | — | — | −CN¥2.0m | — |
| Total assets | CN¥690.2m | CN¥707.1m | CN¥697.8m | CN¥796.3m | CN¥878.2m | CN¥874.7m | CN¥871.8m | CN¥936.3m |
| Cash and short-term investments | — | — | — | CN¥18.1m | CN¥15.2m | CN¥24.1m | CN¥13.5m | CN¥32.8m |
| Debt | CN¥17.0m | — | CN¥58.8m | CN¥50.8m | CN¥32.8m | CN¥69.6m | CN¥88.2m | CN¥85.7m |
| Shareholders' equity | CN¥57.0m | CN¥79.7m | CN¥100.0m | CN¥193.3m | CN¥225.9m | CN¥268.1m | CN¥291.0m | CN¥408.6m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -2.2% | -16.1% | 0.4% | -2.3% | -9.1% | 11.6% |
| Operating margin | -44.3% | -78.4% | -39.3% | -40.1% | -45.0% | 23.4% |
| Net margin | -47.7% | -85.3% | -45.8% | -41.1% | -44.7% | 10.9% |
| Return on equity | -185.6% | -54.9% | -32.3% | -25.2% | -15.2% | 3.8% |
| Return on assets | -26.6% | -18.3% | -13.2% | -11.7% | -10.7% | 2.7% |
| Free cash flow yield | -0.1% | -0.3% | -0.1% | 14.4% | 6.9% | 12.9% |
| Revenue growth | 107.4% | -40.8% | -13.0% | 43.3% | -15.4% | 38.0% |
| Earnings growth | 16.1% | 10.2% | -3.1% | 31.8% | -445.5% | -106.1% |
| Current ratio | 0.48x | 0.56x | 0.65x | 1.01x | 1.57x | 1.70x |
| Debt to equity | 0.59x | 0.30x | 0.38x | 0.26x | 0.08x | 0.05x |
| Equity ratio | 14.3% | 33.4% | 41.0% | 46.7% | 70.8% | 69.4% |
| Interest coverage | -11.35x | -11.32x | -10.25x | -20.84x | -20.93x | 3.82x |
| R&D as a share of sales | 4.1% | 9.5% | 5.9% | 5.8% | 7.5% | 6.9% |
| Buybacks as a share of market value | 0.0% | 0.1% | -0.1% | 0.1% | -0.4% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.2% | 5.3% | 5.4% |
| Operating income | -18.6% | — | 13.5% |
| Net income | 7.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 0.9% | -0.1% | 0.6% | 3.7% |
| Operating margin | -39.2% | -39.7% | -31.0% | -43.1% |
| Net margin | -60.0% | -50.9% | -39.8% | -49.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.7 | -14.4 | -22.8 | -30.2 | -70.4 | 59.6 | -2.8 | -10.1 | — | -81.7 |
| Price to sales | 4.6 | 12.3 | 10.4 | 12.4 | 31.5 | 6.5 | 6.9 | 7.4 | 14.6 | 15.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Jun 2014.
| FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|
| Paid in the year | 0.025 | 0.025 | 0.15 | 0.25 |
- 5-for-4 split · 21 Apr 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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