Z 
3.65
-1.88%
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¥293.8m
FY2016FY2025
Net income
CN¥9.4m
FY2016FY2025
Free cash flow
−CN¥12.4m
FY2016FY2025
Shareholders' equity
CN¥66.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥293.8m | CN¥319.3m | CN¥208.2m | CN¥168.5m | CN¥126.0m | CN¥108.0m | CN¥96.8m | CN¥2.55bn | CN¥3.22bn | CN¥314.8m |
| Gross profit | CN¥41.8m | CN¥42.7m | CN¥9.0m | CN¥3.6m | CN¥12.0m | CN¥16.3m | CN¥18.4m | −CN¥1.0m | CN¥58.0m | CN¥24.4m |
| Research and development | CN¥201,113 | CN¥1.7m | CN¥4.0m | CN¥1.9m | CN¥1.7m | CN¥2.5m | CN¥1.5m | CN¥2.7m | CN¥7.9m | CN¥6.8m |
| Operating income | CN¥13.6m | CN¥32.5m | −CN¥51.9m | CN¥17.2m | −CN¥25.7m | −CN¥7.3m | CN¥34.2m | −CN¥617.3m | −CN¥27.6m | CN¥25.0m |
| Net income | CN¥9.4m | CN¥14.4m | −CN¥34.9m | CN¥14.1m | −CN¥26.4m | −CN¥14.7m | CN¥29.0m | −CN¥618.6m | −CN¥30.2m | CN¥24.5m |
| Diluted earnings per share | 0.02 | 0.07 | -0.11 | 0.03 | -0.07 | -0.05 | 0.07 | -1.63 | -0.06 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥396.8m | CN¥367.4m | CN¥202.3m | CN¥238.2m | CN¥362.0m | CN¥379.6m | CN¥365.4m | CN¥326.4m | CN¥769.0m | CN¥769.7m |
| Cash and short-term investments | — | CN¥29.2m | CN¥35.7m | CN¥67.5m | CN¥103.0m | CN¥103.2m | CN¥90.5m | CN¥36.6m | CN¥23.6m | CN¥180.3m |
| Total liabilities | CN¥313.3m | CN¥297.0m | CN¥140.9m | CN¥201.4m | CN¥355.2m | CN¥346.9m | CN¥314.2m | CN¥301.3m | CN¥113.8m | CN¥84.5m |
| Debt | CN¥4.9m | CN¥25.2m | CN¥429,019 | CN¥7.7m | CN¥45.7m | CN¥71.4m | CN¥49.2m | CN¥62.3m | CN¥61.6m | CN¥20.0m |
| Shareholders' equity | CN¥66.8m | CN¥56.5m | CN¥49.2m | CN¥36.3m | CN¥7.8m | CN¥33.8m | CN¥52.2m | CN¥25.2m | CN¥642.5m | CN¥672.9m |
| Shares outstanding | 423m | 203m | 314m | 482m | 398m | 273m | 425m | 379m | 538m | 631m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥6.0m | −CN¥22.9m | −CN¥31.6m | −CN¥100.0m | −CN¥41.8m | −CN¥20.5m | CN¥62.2m | CN¥1.3m | −CN¥197.6m | CN¥93.4m |
| Capital spending | −CN¥6.4m | −CN¥10.5m | −CN¥10.8m | −CN¥194,925 | −CN¥108,000 | −CN¥1.8m | −CN¥131,904 | −CN¥1.9m | −CN¥6.1m | −CN¥7.5m |
| Free cash flow | −CN¥12.4m | −CN¥33.5m | −CN¥42.4m | −CN¥100.2m | −CN¥41.9m | −CN¥22.3m | CN¥62.1m | −CN¥671,811 | −CN¥203.6m | CN¥85.9m |
| Dividends paid | −CN¥372,244 | −CN¥66,887 | −CN¥118,000 | −CN¥3.4m | −CN¥8.2m | −CN¥2.0m | −CN¥1.7m | −CN¥4.4m | −CN¥2.6m | −CN¥1.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥33.4m | CN¥35.6m | CN¥225.2m | CN¥18.1m | CN¥13.7m | CN¥36.7m | CN¥187.6m | CN¥41.0m |
| Gross profit | CN¥2.8m | CN¥2.7m | CN¥39.4m | −CN¥935,836 | −CN¥377,215 | CN¥3.7m | CN¥37.2m | CN¥2.0m |
| Operating income | −CN¥6.5m | −CN¥2.8m | CN¥30.6m | −CN¥9.4m | −CN¥8.2m | −CN¥2.3m | CN¥37.9m | CN¥11.8m |
| Net income | −CN¥8.2m | −CN¥4.0m | CN¥30.5m | −CN¥9.3m | −CN¥9.0m | −CN¥2.9m | CN¥24.7m | CN¥7.3m |
| Diluted earnings per share | -0.02 | -0.01 | 0.07 | -0.02 | -0.02 | -0.01 | 0.12 | 0.04 |
| Cash from operations | — | — | — | −CN¥3.0m | — | −CN¥1.0m | — | −CN¥10.0m |
| Capital spending | −CN¥10.0m | −CN¥8.0m | −CN¥1.0m | — | — | −CN¥3.0m | −CN¥4.0m | −CN¥3.0m |
| Free cash flow | — | — | — | — | — | −CN¥4.0m | — | −CN¥13.0m |
| Total assets | CN¥287.9m | CN¥340.8m | CN¥396.8m | CN¥270.0m | CN¥285.3m | CN¥315.7m | CN¥367.4m | CN¥216.0m |
| Cash and short-term investments | — | — | — | CN¥4.1m | CN¥5.7m | CN¥6.6m | CN¥29.2m | CN¥15.7m |
| Debt | CN¥18.7m | CN¥10.3m | CN¥4.9m | CN¥21.3m | CN¥5.8m | CN¥5.7m | CN¥23.3m | CN¥7.2m |
| Shareholders' equity | CN¥55.0m | CN¥63.1m | CN¥66.8m | CN¥35.8m | CN¥45.0m | CN¥53.8m | CN¥56.5m | CN¥31.1m |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.2% | 13.4% | 4.3% | 2.2% | 9.5% | 15.1% |
| Operating margin | 4.6% | 6.1% | -16.0% | 10.2% | -14.7% | -6.6% |
| Net margin | 3.2% | 4.5% | -16.8% | 8.3% | -21.0% | -13.6% |
| Return on equity | 14.1% | 25.5% | -71.0% | 38.8% | -337.2% | -43.5% |
| Return on assets | 2.4% | 3.9% | -17.3% | 5.9% | -7.3% | -3.9% |
| Free cash flow yield | 0.0% | -1.6% | -1.7% | -5.3% | -2.7% | -1.7% |
| Revenue growth | -8.0% | 53.3% | 23.6% | 33.8% | 16.7% | 11.5% |
| Earnings growth | -34.9% | -141.3% | -348.5% | -153.3% | 79.7% | -150.7% |
| Current ratio | 1.10x | 1.10x | 1.16x | 1.02x | 0.59x | 0.64x |
| Debt to equity | 0.07x | 0.41x | 0.50x | 0.14x | 5.58x | 1.98x |
| Equity ratio | 16.8% | 15.4% | 24.3% | 15.2% | 2.2% | 8.9% |
| Interest coverage | 14.76x | 29.63x | -84.94x | 6.90x | -2.93x | -1.20x |
| R&D as a share of sales | 0.1% | 0.5% | 1.9% | 1.1% | 1.3% | 2.3% |
| Buybacks as a share of market value | -108.5% | 35.5% | 34.8% | -21.0% | -45.7% | 35.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.3% | 22.2% | 1.8% |
| Operating income | -7.5% | — | — |
| Net income | -12.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.8% | 9.8% | 10.2% | 3.1% |
| Operating margin | 7.5% | 1.1% | -1.8% | -9.3% |
| Net margin | 3.9% | 0.3% | -3.1% | -9.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 307.0 | 59.7 | -35.4 | 139.0 | -76.9 | -40.9 | 38.1 | -2.4 | -126.3 | 337.5 |
| Price to sales | 9.8 | 2.7 | 5.9 | 11.6 | 16.1 | 5.6 | 11.4 | 0.6 | 1.2 | 26.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Jun 2015.
| FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|
| Paid in the year | 0.013 | 0.013 | 0.056 | 0.089 |
- 3-for-2 split · 4 Jun 2015
- 8-for-5 split · 17 Jul 2014
- 3-for-2 split · 10 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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