S 
9.27
-1.80%
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¥3.59bn
FY2016FY2025
Net income
−CN¥752.3m
FY2016FY2025
Free cash flow
−CN¥331.7m
FY2016FY2025
Shareholders' equity
CN¥205.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.59bn | CN¥6.25bn | CN¥6.20bn | CN¥2.17bn | CN¥1.95bn | CN¥2.27bn | CN¥3.01bn | CN¥2.96bn | CN¥2.45bn | CN¥2.13bn |
| Gross profit | CN¥182.5m | CN¥683.7m | CN¥747.0m | CN¥371.3m | CN¥242.5m | CN¥376.6m | CN¥462.8m | CN¥460.5m | CN¥382.9m | CN¥279.6m |
| Research and development | CN¥113.2m | CN¥196.2m | CN¥202.8m | CN¥65.3m | CN¥60.6m | CN¥71.0m | CN¥92.0m | CN¥92.4m | CN¥82.3m | CN¥68.8m |
| Operating income | — | −CN¥519.8m | −CN¥298.0m | CN¥12.8m | −CN¥884.6m | CN¥84.1m | CN¥39.1m | CN¥109.2m | CN¥108.8m | CN¥153.1m |
| Net income | −CN¥752.3m | −CN¥829.2m | −CN¥563.2m | CN¥11.2m | −CN¥981.7m | −CN¥24.6m | CN¥22.0m | CN¥92.2m | CN¥91.5m | CN¥82.3m |
| Diluted earnings per share | -4.71 | -5.19 | -3.54 | 0.07 | -6.66 | -0.18 | 0.17 | 0.67 | 0.65 | 0.65 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.60bn | CN¥10.20bn | CN¥10.11bn | CN¥8.98bn | CN¥3.33bn | CN¥4.33bn | CN¥4.57bn | CN¥4.01bn | CN¥3.62bn | CN¥2.92bn |
| Cash and short-term investments | — | CN¥1.23bn | CN¥677.1m | CN¥569.8m | CN¥250.1m | CN¥445.1m | CN¥682.6m | CN¥371.0m | CN¥435.8m | CN¥410.9m |
| Total liabilities | CN¥7.15bn | CN¥10.73bn | CN¥9.85bn | CN¥8.66bn | CN¥3.20bn | CN¥3.31bn | CN¥3.39bn | CN¥2.77bn | CN¥2.46bn | CN¥1.84bn |
| Debt | CN¥358.3m | CN¥2.22bn | CN¥2.38bn | CN¥1.11bn | CN¥1.18bn | CN¥1.80bn | CN¥1.81bn | CN¥1.68bn | CN¥1.64bn | CN¥1.24bn |
| Shareholders' equity | CN¥205.8m | −CN¥803.2m | CN¥31.6m | CN¥169.5m | CN¥144.6m | CN¥1.02bn | CN¥1.19bn | CN¥1.25bn | CN¥1.17bn | CN¥1.08bn |
| Shares outstanding | 160m | 160m | 159m | 156m | 147m | 138m | 133m | 137m | 140m | 127m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥319.3m | CN¥82.9m | −CN¥388.5m | −CN¥110.2m | −CN¥120.1m | −CN¥341.3m | CN¥400.0m | CN¥62.5m | CN¥61.7m | −CN¥233.1m |
| Capital spending | −CN¥12.4m | −CN¥22.9m | −CN¥30.5m | −CN¥33.2m | −CN¥6.1m | −CN¥8.7m | −CN¥4.3m | −CN¥46.4m | −CN¥51.4m | −CN¥48.3m |
| Free cash flow | −CN¥331.7m | CN¥60.0m | −CN¥419.0m | −CN¥143.3m | −CN¥126.2m | −CN¥350.0m | CN¥395.7m | CN¥16.1m | CN¥10.3m | −CN¥281.5m |
| Dividends paid | −CN¥110.0m | −CN¥101.2m | −CN¥64.8m | −CN¥36.8m | −CN¥96.6m | −CN¥7.2m | −CN¥9.4m | −CN¥111.2m | −CN¥103.7m | −CN¥50.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥532.9m | CN¥495.8m | CN¥926.3m | CN¥708.7m | CN¥1.19bn | CN¥765.2m | CN¥1.78bn | CN¥1.74bn |
| Gross profit | CN¥3.4m | CN¥12.6m | CN¥67.4m | CN¥18.7m | CN¥30.4m | CN¥66.0m | CN¥94.8m | CN¥210.9m |
| Operating income | −CN¥69.6m | −CN¥40.0m | −CN¥27.4m | −CN¥155.8m | −CN¥85.0m | CN¥18.3m | −CN¥671.4m | CN¥6.6m |
| Net income | −CN¥90.4m | −CN¥53.1m | −CN¥409.9m | −CN¥153.9m | −CN¥157.0m | −CN¥31.4m | −CN¥833.3m | −CN¥1.4m |
| Diluted earnings per share | -0.57 | -0.33 | -2.57 | -0.96 | -0.98 | -0.20 | -5.22 | -0.01 |
| Cash from operations | — | — | — | −CN¥210.0m | −CN¥529.0m | CN¥27.0m | — | −CN¥67.0m |
| Capital spending | −CN¥11.0m | — | −CN¥1.0m | −CN¥2.0m | −CN¥4.0m | −CN¥3.0m | −CN¥7.0m | −CN¥3.0m |
| Free cash flow | — | — | — | −CN¥212.0m | −CN¥533.0m | CN¥24.0m | — | −CN¥70.0m |
| Total assets | CN¥6.87bn | CN¥7.01bn | CN¥7.60bn | CN¥8.92bn | CN¥9.82bn | CN¥10.11bn | CN¥10.20bn | CN¥10.34bn |
| Cash and short-term investments | — | — | — | CN¥1.04bn | CN¥1.30bn | CN¥1.60bn | CN¥1.23bn | CN¥924.4m |
| Debt | CN¥55.1m | CN¥354.8m | CN¥358.3m | CN¥2.28bn | CN¥2.16bn | CN¥2.86bn | CN¥2.21bn | CN¥1.94bn |
| Shareholders' equity | CN¥61.5m | CN¥152.1m | CN¥205.8m | −CN¥1.15bn | −CN¥993.6m | −CN¥836.2m | −CN¥803.2m | CN¥33.1m |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.1% | 10.9% | 12.0% | 17.1% | 12.5% | 16.6% |
| Operating margin | -14.1% | -8.3% | -4.8% | 5.2% | -45.4% | 3.7% |
| Net margin | -20.9% | -13.3% | -9.1% | 0.5% | -50.4% | -1.1% |
| Return on equity | -365.5% | 103.2% | -1781.7% | 6.6% | -678.7% | -2.4% |
| Return on assets | -9.9% | -8.1% | -5.6% | 0.1% | -29.5% | -0.6% |
| Free cash flow yield | -21.6% | 7.4% | -25.3% | -5.5% | -8.7% | -27.0% |
| Revenue growth | -42.5% | 0.8% | 186.3% | 11.2% | -14.2% | -24.7% |
| Earnings growth | -9.3% | 47.2% | -5142.0% | -101.1% | 3890.8% | -212.0% |
| Current ratio | 0.74x | 0.79x | 0.81x | 0.76x | 0.81x | 1.23x |
| Debt to equity | 1.74x | -2.76x | 56.22x | 6.45x | 7.16x | 1.75x |
| Equity ratio | 2.7% | -7.9% | 0.3% | 1.9% | 4.3% | 23.6% |
| Interest coverage | -3.10x | -2.22x | -1.41x | 1.12x | -5.06x | 0.78x |
| R&D as a share of sales | 3.2% | 3.1% | 3.3% | 3.0% | 3.1% | 3.1% |
| Buybacks as a share of market value | 0.0% | -0.2% | -1.9% | -6.0% | -6.5% | -4.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.4% | 9.6% | 6.8% |
| Net income | — | 98.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.8% | 10.9% | 11.6% | 12.8% |
| Net margin | -16.1% | -11.7% | -14.0% | -8.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -1.8 | -3.9 | 202.3 | -1.8 | -99.6 | 100.2 | 24.3 | 36.2 | 71.5 |
| Price to sales | 0.5 | 0.2 | 0.3 | 1.0 | 0.9 | 1.1 | 0.7 | 0.8 | 1.4 | 2.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jun 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|
| Paid in the year | 0.052 | 0.068 | 0.081 | 0.062 | 0.059 |
- 17-for-10 split · 24 Aug 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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