G 
2.94
-1.67%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥890.6m
FY2016FY2025
Net income
−CN¥481.8m
FY2016FY2025
Free cash flow
−CN¥2.2m
FY2016FY2025
Shareholders' equity
−CN¥67.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥890.6m | CN¥842.0m | CN¥932.8m | CN¥1.06bn | CN¥1.49bn | CN¥1.43bn | CN¥1.64bn | CN¥1.66bn | CN¥2.06bn | CN¥1.53bn |
| Gross profit | CN¥123.6m | CN¥57.6m | CN¥145.5m | CN¥147.2m | CN¥161.0m | CN¥250.8m | CN¥345.7m | CN¥271.0m | CN¥534.0m | CN¥375.8m |
| Research and development | CN¥32.3m | CN¥29.4m | CN¥31.5m | CN¥37.7m | CN¥55.2m | CN¥51.7m | CN¥54.4m | CN¥54.5m | CN¥57.4m | CN¥49.4m |
| Operating income | — | −CN¥144.6m | CN¥109.5m | −CN¥100.5m | −CN¥550.3m | −CN¥263.0m | CN¥47.4m | −CN¥152.6m | CN¥176.0m | CN¥94.3m |
| Net income | −CN¥481.8m | −CN¥153.4m | CN¥91.9m | −CN¥133.2m | −CN¥583.3m | −CN¥249.0m | CN¥10.7m | −CN¥115.7m | CN¥113.8m | CN¥39.8m |
| Diluted earnings per share | -0.67 | -0.19 | 0.13 | -0.24 | -1.13 | -0.44 | 0.02 | -0.20 | 0.37 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.17bn | CN¥1.13bn | CN¥1.35bn | CN¥1.83bn | CN¥2.09bn | CN¥2.47bn | CN¥2.92bn | CN¥2.68bn | CN¥2.81bn | CN¥2.30bn |
| Cash and short-term investments | — | CN¥213.0m | CN¥436.7m | CN¥106.2m | CN¥80.2m | CN¥87.7m | CN¥134.2m | CN¥145.7m | CN¥313.6m | CN¥246.4m |
| Total liabilities | CN¥1.23bn | CN¥715.6m | CN¥764.0m | CN¥1.79bn | CN¥1.91bn | CN¥1.69bn | CN¥1.84bn | CN¥1.59bn | CN¥1.57bn | CN¥1.25bn |
| Debt | — | CN¥28.5m | CN¥97.9m | CN¥205.9m | CN¥213.6m | CN¥230.1m | CN¥340.8m | CN¥343.1m | CN¥641.7m | CN¥836.1m |
| Shareholders' equity | −CN¥67.4m | CN¥408.0m | CN¥573.4m | CN¥22.2m | CN¥155.5m | CN¥738.5m | CN¥987.4m | CN¥976.8m | CN¥1.10bn | CN¥979.0m |
| Shares outstanding | 719m | 822m | 695m | 552m | 517m | 566m | 495m | 571m | 309m | 351m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥68.0m | −CN¥120.7m | CN¥32.8m | CN¥41.6m | CN¥12.6m | CN¥204.9m | CN¥240.4m | CN¥136.4m | CN¥205.7m | CN¥120.2m |
| Capital spending | −CN¥70.2m | −CN¥87.4m | −CN¥12.4m | −CN¥17.7m | −CN¥21.8m | −CN¥44.3m | −CN¥38.4m | −CN¥361.4m | −CN¥457.6m | −CN¥120.6m |
| Free cash flow | −CN¥2.2m | −CN¥208.1m | CN¥20.3m | CN¥23.9m | −CN¥9.2m | CN¥160.5m | CN¥202.0m | −CN¥225.0m | −CN¥251.9m | −CN¥414,990 |
| Dividends paid | −CN¥992,833 | −CN¥1.8m | −CN¥10.1m | −CN¥17.4m | −CN¥19.6m | −CN¥23.9m | −CN¥25.7m | −CN¥40.4m | −CN¥41.9m | −CN¥106.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥256.4m | CN¥218.7m | CN¥247.6m | CN¥221.6m | CN¥232.3m | CN¥189.1m | CN¥237.8m | CN¥221.1m |
| Gross profit | CN¥52.2m | CN¥31.6m | CN¥28.9m | CN¥31.7m | CN¥33.7m | CN¥29.3m | CN¥4.1m | CN¥29.8m |
| Operating income | CN¥5.6m | −CN¥120,163 | −CN¥24.5m | −CN¥5.8m | −CN¥7.5m | CN¥772,088 | −CN¥79.4m | −CN¥19.2m |
| Net income | −CN¥9.1m | −CN¥9.4m | −CN¥179.0m | −CN¥8.8m | −CN¥294.9m | CN¥825,014 | −CN¥91.8m | −CN¥21.4m |
| Diluted earnings per share | -0.01 | -0.01 | -0.25 | -0.01 | -0.41 | 0.00 | -0.11 | -0.03 |
| Cash from operations | — | — | — | CN¥1.0m | CN¥11.0m | −CN¥38.0m | — | −CN¥101.0m |
| Capital spending | −CN¥8.0m | −CN¥3.0m | −CN¥40.0m | −CN¥6.0m | −CN¥6.0m | −CN¥16.0m | −CN¥53.0m | −CN¥2.0m |
| Free cash flow | — | — | — | −CN¥5.0m | CN¥5.0m | −CN¥54.0m | — | −CN¥103.0m |
| Total assets | CN¥1.14bn | CN¥1.16bn | CN¥1.17bn | CN¥1.23bn | CN¥1.16bn | CN¥1.10bn | CN¥1.13bn | CN¥1.16bn |
| Cash and short-term investments | — | — | — | CN¥193.5m | CN¥154.2m | CN¥109.9m | CN¥213.0m | CN¥170.4m |
| Debt | — | — | — | CN¥199.4m | CN¥62.9m | CN¥32.5m | CN¥27.6m | CN¥29.3m |
| Shareholders' equity | −CN¥82.8m | −CN¥75.2m | −CN¥67.4m | CN¥105.2m | CN¥113.9m | CN¥408.9m | CN¥408.0m | CN¥499.9m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 13.9% | 6.8% | 15.6% | 13.9% | 10.8% | 17.6% | — |
| Operating margin | -52.1% | -16.7% | 11.7% | -9.5% | -36.9% | -18.4% | — |
| Net margin | -54.1% | -18.2% | 9.9% | -12.6% | -39.1% | -17.4% | — |
| Return on equity | 714.9% | -37.6% | 16.0% | -598.9% | -375.2% | -33.7% | — |
| Return on assets | -41.1% | -13.6% | 6.8% | -7.3% | -27.9% | -10.1% | — |
| Free cash flow yield | 6.7% | -1.4% | 2.3% | 3.7% | 2.3% | 15.3% | — |
| Revenue growth | 5.8% | -9.7% | -11.6% | -29.3% | 4.5% | -12.9% | — |
| Earnings growth | 214.1% | -266.9% | -169.0% | -77.2% | 134.3% | -2431.9% | — |
| Current ratio | 0.87x | 0.94x | 1.21x | 0.37x | 0.42x | 0.47x | — |
| Debt to equity | — | 0.07x | 0.17x | 9.21x | 1.37x | 0.31x | 0.35x |
| Equity ratio | -5.8% | 36.2% | 42.6% | 1.2% | 7.4% | 29.9% | — |
| Interest coverage | -46.92x | -30.52x | 4.79x | -2.02x | -12.81x | -9.99x | — |
| R&D as a share of sales | 3.6% | 3.5% | 3.4% | 3.6% | 3.7% | 3.6% | — |
| Buybacks as a share of market value | 12.6% | -18.3% | -25.9% | -6.8% | 8.7% | -14.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.5% | -9.0% | -6.6% |
| Net income | 53.5% | 14.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.5% | 12.7% | 13.3% | 18.1% |
| Net margin | -36.7% | -18.2% | -22.7% | -9.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.6 | -24.6 | 46.3 | -19.6 | -4.0 | -5.8 | 150.7 | -20.6 | 59.2 | 232.2 |
| Price to sales | 3.0 | 4.5 | 4.6 | 2.5 | 1.6 | 1.0 | 1.0 | 1.4 | 3.3 | 6.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Aug 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.004 | 0.008 | 0.007 | 0.217 | 0.033 | 0.13 |
- 8-for-5 split · 19 May 2017
- 2-for-1 split · 17 Jun 2014
- 6-for-5 split · 23 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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