C 
19.28
—
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¥2.04bn
FY2016FY2025
Net income
−CN¥107.7m
FY2016FY2025
Free cash flow
CN¥41.2m
FY2016FY2025
Shareholders' equity
CN¥2.78bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.04bn | CN¥2.89bn | CN¥3.63bn | CN¥3.17bn | CN¥2.03bn | CN¥1.80bn | CN¥1.18bn | CN¥1.53bn | CN¥1.61bn | CN¥1.40bn |
| Gross profit | CN¥136.0m | CN¥120.2m | CN¥265.7m | CN¥253.2m | CN¥153.0m | CN¥266.1m | CN¥145.4m | CN¥151.0m | CN¥227.5m | CN¥210.6m |
| Research and development | CN¥66.2m | CN¥96.2m | CN¥115.1m | CN¥102.0m | CN¥70.2m | CN¥51.7m | CN¥35.1m | CN¥36.7m | CN¥55.3m | CN¥53.7m |
| Operating income | −CN¥57.3m | −CN¥119.1m | CN¥86.1m | CN¥89.8m | CN¥61.0m | CN¥161.7m | −CN¥111.3m | CN¥78.5m | −CN¥19.8m | CN¥8.3m |
| Net income | −CN¥107.7m | −CN¥126.8m | CN¥83.5m | CN¥83.6m | CN¥54.0m | CN¥137.7m | −CN¥97.1m | CN¥79.2m | −CN¥23.0m | CN¥19.2m |
| Diluted earnings per share | -0.54 | -0.57 | 0.42 | 0.41 | 0.48 | 0.85 | -0.61 | 0.52 | -0.11 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.70bn | CN¥5.40bn | CN¥5.26bn | CN¥4.98bn | CN¥4.89bn | CN¥4.05bn | CN¥3.71bn | CN¥4.23bn | CN¥4.74bn | CN¥4.28bn |
| Cash and short-term investments | — | CN¥1.94bn | CN¥1.27bn | CN¥1.37bn | CN¥1.65bn | CN¥902.4m | CN¥342.3m | CN¥606.5m | CN¥760.1m | CN¥769.1m |
| Total liabilities | CN¥2.88bn | CN¥2.35bn | CN¥1.99bn | CN¥1.73bn | CN¥1.60bn | CN¥1.70bn | CN¥1.60bn | CN¥2.01bn | CN¥2.60bn | CN¥2.11bn |
| Debt | CN¥261.5m | CN¥1.28bn | CN¥1.01bn | CN¥721.2m | CN¥687.9m | CN¥682.4m | CN¥774.6m | CN¥1.07bn | CN¥1.51bn | CN¥1.21bn |
| Shareholders' equity | CN¥2.78bn | CN¥3.00bn | CN¥3.24bn | CN¥3.23bn | CN¥3.28bn | CN¥2.35bn | CN¥2.10bn | CN¥2.22bn | CN¥2.13bn | CN¥2.17bn |
| Shares outstanding | 200m | 222m | 200m | 204m | 113m | 161m | 160m | 152m | 205m | 153m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥81.3m | CN¥339.6m | CN¥118.1m | CN¥101.3m | −CN¥143.5m | CN¥241.5m | CN¥189.5m | CN¥3.8m | CN¥122.5m | CN¥198.0m |
| Capital spending | −CN¥40.1m | −CN¥220.0m | −CN¥479.1m | −CN¥241.9m | −CN¥161.1m | −CN¥80.5m | −CN¥56.4m | −CN¥234.4m | −CN¥671.0m | −CN¥828.8m |
| Free cash flow | CN¥41.2m | CN¥119.6m | −CN¥361.1m | −CN¥140.7m | −CN¥304.5m | CN¥161.0m | CN¥133.0m | −CN¥230.6m | −CN¥548.5m | −CN¥630.8m |
| Dividends paid | −CN¥138.4m | −CN¥133.2m | −CN¥65.7m | −CN¥11.9m | −CN¥21.6m | −CN¥39.6m | −CN¥45.9m | −CN¥42.6m | −CN¥77.3m | −CN¥41.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥333.1m | CN¥368.3m | CN¥455.8m | CN¥497.7m | CN¥523.1m | CN¥559.6m | CN¥445.9m | CN¥696.3m |
| Gross profit | −CN¥2.3m | CN¥16.0m | CN¥34.2m | CN¥25.9m | CN¥35.4m | CN¥40.5m | CN¥355,735 | CN¥8.6m |
| Operating income | −CN¥42.6m | −CN¥26.3m | −CN¥18.8m | −CN¥44.4m | −CN¥20.9m | CN¥7.0m | −CN¥97.1m | −CN¥39.1m |
| Net income | −CN¥67.1m | −CN¥38.8m | −CN¥48.1m | −CN¥43.7m | −CN¥20.9m | CN¥5.0m | −CN¥100.1m | −CN¥40.2m |
| Diluted earnings per share | -0.34 | -0.19 | -0.24 | -0.22 | -0.10 | 0.03 | -0.45 | -0.18 |
| Cash from operations | — | — | — | −CN¥46.0m | CN¥388.0m | −CN¥215.0m | — | CN¥77.0m |
| Capital spending | −CN¥3.0m | −CN¥39.0m | −CN¥5.0m | −CN¥14.0m | −CN¥1.0m | −CN¥19.0m | −CN¥55.0m | −CN¥50.0m |
| Free cash flow | — | — | — | −CN¥60.0m | CN¥387.0m | −CN¥234.0m | — | CN¥27.0m |
| Total assets | CN¥5.54bn | CN¥5.65bn | CN¥5.70bn | CN¥5.75bn | CN¥5.73bn | CN¥5.64bn | CN¥5.40bn | CN¥5.60bn |
| Cash and short-term investments | — | — | — | CN¥2.33bn | CN¥2.15bn | CN¥2.06bn | CN¥1.94bn | CN¥1.78bn |
| Debt | CN¥371.3m | CN¥470.8m | CN¥261.5m | CN¥1.85bn | CN¥1.17bn | CN¥1.42bn | CN¥1.17bn | CN¥1.83bn |
| Shareholders' equity | CN¥2.58bn | CN¥2.74bn | CN¥2.78bn | CN¥2.83bn | CN¥2.87bn | CN¥3.00bn | CN¥3.00bn | CN¥3.12bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.8% | 4.2% | 7.3% | 8.0% | 7.5% | 14.8% |
| Operating margin | -2.9% | -2.6% | 3.1% | 3.5% | 4.1% | 12.2% |
| Net margin | -5.3% | -4.4% | 2.3% | 2.6% | 2.7% | 7.6% |
| Return on equity | -3.9% | -4.2% | 2.6% | 2.6% | 1.6% | 5.9% |
| Return on assets | -1.9% | -2.3% | 1.6% | 1.7% | 1.1% | 3.4% |
| Free cash flow yield | 3.2% | 13.1% | 15.5% | 8.7% | 0.8% | 10.4% |
| Revenue growth | -29.6% | -20.3% | 14.5% | 55.9% | 12.7% | 52.2% |
| Earnings growth | -15.1% | -251.8% | -0.1% | 54.8% | -60.8% | -241.9% |
| Current ratio | 1.53x | 1.87x | 2.11x | 2.18x | 2.32x | 1.50x |
| Debt to equity | 0.09x | 0.39x | 0.27x | 0.16x | 0.15x | 0.21x |
| Equity ratio | 48.8% | 55.6% | 61.5% | 64.8% | 67.0% | 57.9% |
| Interest coverage | -1.13x | -1.82x | 3.87x | 4.51x | 3.26x | 4.27x |
| R&D as a share of sales | 3.3% | 3.3% | 3.2% | 3.2% | 3.5% | 2.9% |
| Buybacks as a share of market value | 9.7% | -10.6% | 2.0% | -81.1% | 30.1% | -0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.7% | 2.5% | 6.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.2% | 6.6% | 7.7% | 9.4% |
| Operating margin | -3.6% | -0.0% | 1.4% | 1.1% |
| Net margin | -4.8% | -0.6% | 0.8% | 0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -33.6 | -27.0 | 64.2 | 73.7 | 71.4 | 51.6 | -36.8 | 29.4 | -201.2 | 329.4 |
| Price to sales | 1.8 | 1.2 | 1.5 | 1.9 | 1.9 | 3.9 | 3.0 | 1.5 | 2.9 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.40 | 0.50 | 0.50 | 0.20 | 0.06 | 0.013 | 0.04 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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