W 
22.75
-10.01%
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¥320.2m
FY2016FY2025
Net income
−CN¥414.5m
FY2016FY2025
Free cash flow
CN¥6.0m
FY2016FY2025
Shareholders' equity
−CN¥32.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥320.2m | CN¥532.7m | CN¥1.14bn | CN¥1.19bn | CN¥229.0m | CN¥290.2m | CN¥222.2m | CN¥185.0m | CN¥180.5m | CN¥91.0m |
| Research and development | CN¥9.2m | CN¥31.9m | CN¥55.2m | CN¥48.2m | CN¥15.1m | CN¥15.6m | CN¥15.7m | CN¥15.1m | CN¥13.3m | CN¥14.7m |
| Operating income | −CN¥246.3m | −CN¥410.6m | −CN¥265.6m | CN¥257.4m | −CN¥102.5m | CN¥1.2m | CN¥17.8m | CN¥17.8m | CN¥24.7m | −CN¥24.5m |
| Net income | −CN¥414.5m | −CN¥307.9m | −CN¥223.2m | CN¥82.0m | −CN¥95.9m | CN¥5.1m | CN¥11.0m | CN¥12.6m | CN¥23.2m | −CN¥23.2m |
| Diluted earnings per share | -1.78 | -1.30 | -1.17 | 0.38 | -0.44 | 0.02 | 0.04 | 0.04 | 0.09 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.67bn | CN¥1.66bn | CN¥2.02bn | CN¥2.61bn | CN¥949.8m | CN¥907.6m | CN¥924.4m | CN¥931.5m | CN¥881.3m | CN¥836.1m |
| Cash and short-term investments | — | CN¥119.0m | CN¥133.8m | CN¥674.0m | CN¥256.0m | CN¥382.8m | CN¥316.0m | CN¥299.8m | CN¥294.8m | CN¥267.3m |
| Total liabilities | CN¥1.52bn | CN¥927.7m | CN¥916.0m | CN¥1.34bn | CN¥239.4m | CN¥128.0m | CN¥147.4m | CN¥161.2m | CN¥120.5m | CN¥100.2m |
| Debt | CN¥216.0m | CN¥349.7m | CN¥482.8m | CN¥519.6m | CN¥36.0m | CN¥12.2m | CN¥120,910 | CN¥1.7m | CN¥1.6m | CN¥1.4m |
| Shareholders' equity | −CN¥32.1m | CN¥365.5m | CN¥675.7m | CN¥783.7m | CN¥681.5m | CN¥779.6m | CN¥775.0m | CN¥768.0m | CN¥758.7m | CN¥735.5m |
| Shares outstanding | 233m | 237m | 191m | 218m | 216m | 314m | 275m | 304m | 258m | 247m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥35.1m | −CN¥62.5m | −CN¥11.7m | CN¥37.4m | −CN¥146.1m | CN¥21.0m | CN¥8.9m | CN¥10.9m | CN¥26.3m | CN¥43.1m |
| Capital spending | −CN¥29.1m | −CN¥6.3m | −CN¥396.5m | −CN¥426.7m | −CN¥4.7m | −CN¥2.7m | −CN¥8.3m | −CN¥11.4m | −CN¥13.6m | −CN¥10.6m |
| Free cash flow | CN¥6.0m | −CN¥68.8m | −CN¥408.1m | −CN¥389.3m | −CN¥150.8m | CN¥18.3m | CN¥643,169 | −CN¥517,047 | CN¥12.7m | CN¥32.5m |
| Dividends paid | −CN¥24.4m | −CN¥27.1m | −CN¥28.9m | −CN¥61.0m | −CN¥693,394 | −CN¥1.4m | −CN¥2.3m | −CN¥3.3m | −CN¥8,705 | −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¥127.4m | CN¥144.6m | CN¥107.2m | CN¥127.9m | CN¥23.9m | CN¥61.2m | CN¥70.8m | CN¥184.9m |
| Operating income | CN¥42.9m | CN¥46.9m | −CN¥158.7m | −CN¥33.8m | −CN¥38.8m | −CN¥35.4m | −CN¥228.2m | −CN¥106.8m |
| Net income | −CN¥36.3m | CN¥16.7m | −CN¥401.5m | −CN¥14.1m | CN¥26.1m | −CN¥25.0m | −CN¥195.1m | −CN¥61.9m |
| Diluted earnings per share | -0.16 | 0.07 | -1.72 | -0.06 | 0.11 | -0.11 | -0.82 | -0.26 |
| Cash from operations | — | — | — | CN¥43.0m | CN¥30.0m | −CN¥50.0m | — | CN¥15.0m |
| Capital spending | −CN¥19.0m | −CN¥8.0m | −CN¥26.0m | −CN¥43.0m | −CN¥2.0m | −CN¥2.0m | −CN¥31.0m | −CN¥11.0m |
| Free cash flow | — | — | — | CN¥0 | CN¥28.0m | −CN¥52.0m | — | CN¥4.0m |
| Total assets | CN¥1.66bn | CN¥1.84bn | CN¥1.67bn | CN¥2.58bn | CN¥2.45bn | CN¥1.60bn | CN¥1.66bn | CN¥1.87bn |
| Cash and short-term investments | — | — | — | CN¥91.5m | CN¥98.8m | CN¥45.3m | CN¥110.5m | CN¥134.6m |
| Debt | CN¥289.8m | CN¥330.5m | CN¥216.0m | CN¥386.5m | CN¥465.4m | CN¥379.1m | CN¥348.4m | CN¥321.6m |
| Shareholders' equity | −CN¥52.7m | −CN¥19.9m | −CN¥32.1m | CN¥351.2m | CN¥366.6m | CN¥340.6m | CN¥365.5m | CN¥563.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -35.4% | 2.0% | 7.1% |
| Operating income | — | — | 81.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -77.0% | -20.9% | -20.7% | -16.1% |
| Net margin | -84.7% | -27.2% | -25.8% | -20.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.4 | -8.2 | -9.7 | 62.8 | -45.0 | 427.0 | 176.2 | 158.1 | 110.3 | -175.9 |
| Price to sales | 9.5 | 4.7 | 1.9 | 4.3 | 18.9 | 7.4 | 8.7 | 10.8 | 14.2 | 44.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 May 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.003 | 0.006 | 0.01 | 0.014 | 0.006 | 0.021 | 0.023 | 0.038 |
- 17-for-10 split · 2 May 2018
- 2-for-1 split · 29 May 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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