G 
2.83
-1.05%
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¥456.8m
FY2016FY2025
Net income
−CN¥289.5m
FY2016FY2025
Free cash flow
−CN¥594.2m
FY2016FY2025
Shareholders' equity
CN¥66.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥456.8m | CN¥694.9m | CN¥1.03bn | CN¥917.7m | CN¥1.93bn | CN¥2.52bn | CN¥2.90bn | CN¥2.85bn | CN¥2.57bn | CN¥1.52bn |
| Research and development | CN¥15.0m | CN¥18.6m | CN¥29.3m | CN¥25.8m | CN¥59.8m | CN¥79.3m | CN¥23.1m | CN¥10.1m | CN¥12.8m | CN¥12.5m |
| Operating income | −CN¥133.4m | −CN¥324.4m | −CN¥197.1m | −CN¥433.4m | −CN¥1.87bn | CN¥177.6m | CN¥287.3m | CN¥292.9m | CN¥284.5m | CN¥182.2m |
| Net income | −CN¥289.5m | −CN¥118.0m | −CN¥149.4m | −CN¥368.0m | −CN¥1.66bn | CN¥159.9m | CN¥245.1m | CN¥249.6m | CN¥241.7m | CN¥139.6m |
| Diluted earnings per share | -0.42 | -0.18 | -0.35 | -0.65 | -3.44 | 0.19 | 0.49 | 0.50 | 0.60 | 0.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.26bn | CN¥6.19bn | CN¥5.90bn | CN¥5.01bn | CN¥4.55bn | CN¥5.39bn | CN¥4.61bn | CN¥3.82bn | CN¥2.70bn | CN¥2.19bn |
| Cash and short-term investments | — | CN¥426.6m | CN¥267.2m | CN¥220.7m | CN¥243.6m | CN¥1.36bn | CN¥998.7m | CN¥855.5m | CN¥312.5m | CN¥454.6m |
| Total liabilities | CN¥6.17bn | CN¥5.94bn | CN¥5.54bn | CN¥4.78bn | CN¥3.95bn | CN¥2.87bn | CN¥2.00bn | CN¥1.32bn | CN¥1.21bn | CN¥962.3m |
| Debt | CN¥362.0m | CN¥1.77bn | CN¥2.07bn | CN¥1.98bn | CN¥1.85bn | CN¥1.45bn | CN¥612.0m | CN¥560.0m | CN¥550.0m | CN¥380.1m |
| Shareholders' equity | CN¥66.4m | CN¥212.1m | CN¥312.1m | CN¥175.6m | CN¥546.4m | CN¥2.47bn | CN¥2.55bn | CN¥2.50bn | CN¥1.50bn | CN¥1.23bn |
| Shares outstanding | 686m | 662m | 424m | 569m | 483m | 863m | 504m | 501m | 402m | 397m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥173.4m | −CN¥367.1m | −CN¥404.0m | −CN¥616.7m | −CN¥892.6m | CN¥41.6m | CN¥422.4m | CN¥58.6m | −CN¥32.9m | CN¥77.1m |
| Capital spending | −CN¥420.8m | −CN¥162.0m | −CN¥48.6m | −CN¥50.5m | −CN¥142.3m | −CN¥154.0m | −CN¥92.5m | −CN¥20.1m | −CN¥113.5m | −CN¥15.6m |
| Free cash flow | −CN¥594.2m | −CN¥529.0m | −CN¥452.6m | −CN¥667.3m | −CN¥1.03bn | −CN¥112.5m | CN¥329.9m | CN¥38.5m | −CN¥146.5m | CN¥61.5m |
| Dividends paid | −CN¥66.3m | −CN¥83.3m | −CN¥90.8m | −CN¥68.6m | −CN¥321.8m | −CN¥386.1m | −CN¥227.4m | −CN¥66.1m | −CN¥47.9m | −CN¥40.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥79.3m | CN¥140.2m | CN¥46.9m | CN¥209.5m | CN¥115.5m | CN¥84.9m | CN¥193.0m | CN¥217.8m |
| Operating income | CN¥5.2m | CN¥272,693 | −CN¥104.5m | −CN¥54.3m | CN¥45.9m | CN¥44.4m | −CN¥302.1m | CN¥39.3m |
| Net income | −CN¥11.2m | −CN¥12.8m | −CN¥302.4m | CN¥1.7m | CN¥7.9m | CN¥3.3m | −CN¥124.1m | −CN¥2.9m |
| Diluted earnings per share | -0.02 | -0.02 | -0.44 | 0.00 | 0.01 | 0.00 | -0.19 | -0.00 |
| Cash from operations | — | — | — | −CN¥79.0m | CN¥102.0m | −CN¥231.0m | −CN¥199.0m | −CN¥77.0m |
| Capital spending | −CN¥58.0m | −CN¥38.0m | −CN¥45.0m | −CN¥114.0m | −CN¥211.0m | −CN¥48.0m | −CN¥50.0m | −CN¥65.0m |
| Free cash flow | — | — | — | −CN¥193.0m | −CN¥109.0m | −CN¥279.0m | −CN¥249.0m | −CN¥142.0m |
| Total assets | CN¥6.61bn | CN¥6.26bn | CN¥6.26bn | CN¥6.58bn | CN¥6.55bn | CN¥6.41bn | CN¥6.19bn | CN¥6.20bn |
| Cash and short-term investments | — | — | — | CN¥324.1m | CN¥444.1m | CN¥449.4m | CN¥426.6m | CN¥387.4m |
| Debt | CN¥573.8m | CN¥537.1m | CN¥362.0m | CN¥962.7m | CN¥2.06bn | CN¥1.92bn | CN¥1.75bn | CN¥1.94bn |
| Shareholders' equity | CN¥62.3m | CN¥56.1m | CN¥66.4m | CN¥264.6m | CN¥243.6m | CN¥216.3m | CN¥212.1m | CN¥330.3m |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -30.8% | 3.2% | -4.2% | -37.5% | -97.3% | 8.7% |
| Net margin | -63.4% | -17.0% | -14.6% | -40.1% | -86.2% | 6.3% |
| Return on equity | -436.0% | -55.6% | -47.9% | -209.5% | -304.0% | 6.5% |
| Return on assets | -4.6% | -1.9% | -2.5% | -7.3% | -36.5% | 3.0% |
| Free cash flow yield | 11.5% | -9.9% | -26.7% | -31.7% | -49.4% | 7.2% |
| Revenue growth | -34.3% | -32.2% | 11.7% | -52.4% | -23.6% | -13.1% |
| Earnings growth | 145.3% | -21.0% | -59.4% | -77.8% | -1138.8% | -34.8% |
| Current ratio | 0.50x | 0.68x | 0.75x | 0.70x | 0.84x | 2.12x |
| Debt to equity | 5.45x | 8.27x | 6.60x | 10.79x | 3.39x | 0.59x |
| Equity ratio | 1.1% | 3.4% | 5.3% | 3.5% | 12.0% | 45.7% |
| Interest coverage | -0.93x | 0.15x | -0.32x | -3.91x | -28.66x | 3.06x |
| R&D as a share of sales | 3.3% | 2.7% | 2.9% | 2.8% | 3.1% | 3.1% |
| Buybacks as a share of market value | -3.7% | -56.2% | 25.5% | -17.7% | 44.0% | -71.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.7% | -28.9% | -7.9% |
| Operating income | -32.5% | — | — |
| Net income | -7.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -39.7% | -35.2% | -36.9% | -8.8% |
| Net margin | -35.4% | -29.9% | -32.2% | -7.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.2 | -21.6 | -11.3 | -6.3 | -1.3 | 26.2 | 12.0 | 12.0 | 21.1 | 37.1 |
| Price to sales | 6.4 | 3.7 | 1.6 | 2.5 | 1.1 | 1.7 | 1.0 | 1.1 | 2.0 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 May 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.50 | 0.70 | 0.40 | 0.063 | 0.063 | 0.063 |
- 8-for-5 split · 9 Jul 2018
- 2-for-1 split · 7 Jul 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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