L 
4.06
-0.73%
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¥2.65bn
FY2015FY2024
Net income
−CN¥965.5m
FY2015FY2024
Free cash flow
−CN¥273.2m
FY2015FY2024
Shareholders' equity
CN¥1.38bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.65bn | CN¥2.36bn | CN¥3.59bn | CN¥6.48bn | CN¥6.10bn | CN¥7.59bn | CN¥6.21bn | CN¥828.0m | CN¥637.4m | CN¥584.2m |
| Research and development | CN¥75.8m | CN¥81.1m | CN¥171.0m | CN¥280.0m | CN¥325.6m | CN¥383.2m | CN¥385.5m | CN¥30.9m | CN¥24.3m | CN¥22.3m |
| Operating income | −CN¥683.8m | −CN¥509.4m | −CN¥1.45bn | CN¥577.7m | CN¥468.3m | CN¥756.1m | CN¥513.2m | CN¥139.7m | CN¥92.0m | CN¥86.7m |
| Net income | −CN¥965.5m | −CN¥661.1m | −CN¥1.23bn | CN¥406.1m | CN¥322.3m | CN¥634.0m | CN¥512.3m | CN¥115.9m | CN¥100.4m | CN¥81.8m |
| Diluted earnings per share | -0.91 | -0.61 | -1.13 | 0.28 | 0.22 | 0.59 | 1.51 | 0.34 | 0.32 | 0.32 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.34bn | CN¥5.12bn | CN¥8.12bn | CN¥9.50bn | CN¥7.72bn | CN¥7.46bn | CN¥5.96bn | CN¥898.9m | CN¥812.9m | CN¥549.6m |
| Cash and short-term investments | CN¥290.6m | CN¥582.0m | CN¥851.5m | CN¥1.58bn | CN¥1.01bn | CN¥1.32bn | CN¥836.5m | CN¥124.0m | CN¥140.1m | CN¥80.0m |
| Total liabilities | CN¥2.95bn | CN¥2.65bn | CN¥4.94bn | CN¥5.11bn | CN¥3.68bn | CN¥3.78bn | CN¥2.98bn | CN¥144.7m | CN¥114.6m | CN¥210.1m |
| Debt | CN¥1.80bn | CN¥1.47bn | CN¥3.57bn | CN¥3.00bn | CN¥1.74bn | CN¥1.69bn | CN¥480.0m | — | — | CN¥108.1m |
| Shareholders' equity | CN¥1.38bn | CN¥2.47bn | CN¥3.17bn | CN¥4.38bn | CN¥4.04bn | CN¥3.68bn | CN¥2.99bn | CN¥754.2m | CN¥698.3m | CN¥339.5m |
| Shares outstanding | 1,061m | 1,088m | 1,088m | 1,450m | 1,465m | 1,076m | 340m | 340m | 313m | 255m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥157.8m | CN¥466.9m | −CN¥939.1m | CN¥120.6m | −CN¥32.4m | CN¥116.3m | −CN¥87.0m | CN¥104.5m | CN¥72.7m | CN¥58.1m |
| Capital spending | −CN¥115.4m | −CN¥242.4m | −CN¥194.8m | −CN¥309.0m | −CN¥360.8m | −CN¥580.6m | −CN¥363.6m | −CN¥161.1m | −CN¥71.0m | −CN¥41.7m |
| Free cash flow | −CN¥273.2m | CN¥224.5m | −CN¥1.13bn | −CN¥188.4m | −CN¥393.2m | −CN¥464.3m | −CN¥450.6m | −CN¥56.6m | CN¥1.7m | CN¥16.4m |
| Dividends paid | −CN¥61.2m | −CN¥76.8m | −CN¥138.3m | −CN¥132.3m | −CN¥136.1m | −CN¥59.5m | −CN¥132.7m | −CN¥60.7m | −CN¥2.5m | −CN¥61.4m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥646.2m | CN¥594.5m | CN¥482.7m | CN¥766.4m | CN¥621.7m | CN¥570.5m | CN¥688.7m | CN¥537.4m |
| Operating income | CN¥37.0m | CN¥28.5m | CN¥37.3m | −CN¥442.5m | −CN¥158.6m | −CN¥54.3m | −CN¥29.4m | −CN¥313.9m |
| Net income | CN¥5.2m | CN¥12.0m | CN¥5.7m | −CN¥700.1m | −CN¥176.7m | −CN¥52.0m | −CN¥36.7m | −CN¥431.6m |
| Diluted earnings per share | 0.01 | 0.01 | 0.01 | -0.66 | -0.18 | -0.05 | -0.03 | -0.40 |
| Total assets | — | CN¥3.90bn | CN¥4.09bn | CN¥4.34bn | CN¥4.89bn | CN¥5.25bn | CN¥5.12bn | CN¥5.12bn |
| Cash and short-term investments | — | CN¥200.2m | CN¥416.0m | CN¥290.6m | CN¥684.9m | CN¥517.5m | CN¥726.0m | CN¥582.0m |
| Debt | — | CN¥1.09bn | CN¥1.02bn | CN¥978.1m | CN¥1.16bn | CN¥1.28bn | CN¥1.09bn | CN¥1.05bn |
| Shareholders' equity | — | CN¥1.41bn | CN¥1.39bn | CN¥1.38bn | CN¥2.10bn | CN¥2.28bn | CN¥2.33bn | CN¥2.47bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -10.3% | -33.5% | -22.3% | -37.2% | 9.1% | 7.5% |
| Net margin | -12.7% | -36.5% | -28.0% | -34.1% | 6.3% | 5.3% |
| Return on equity | -24.8% | -69.8% | -26.8% | -38.6% | 9.3% | 7.9% |
| Return on assets | -7.7% | -22.3% | -12.9% | -15.1% | 4.3% | 4.2% |
| Free cash flow yield | 5.7% | -0.9% | 16.4% | -12.4% | 6.5% | 4.6% |
| Revenue growth | -14.1% | 12.0% | -34.1% | -44.6% | 6.3% | -19.7% |
| Earnings growth | -70.1% | 46.0% | -46.0% | -401.6% | 26.6% | -49.4% |
| Current ratio | 0.84x | 0.70x | 1.08x | 1.08x | 1.59x | 1.65x |
| Debt to equity | 0.08x | 0.63x | 0.40x | 0.81x | 0.68x | 0.43x |
| Equity ratio | 31.2% | 31.9% | 48.3% | 39.1% | 46.2% | 52.3% |
| Interest coverage | -4.23x | -13.51x | -6.95x | -10.30x | 5.56x | 8.95x |
| R&D as a share of sales | 4.0% | 3.3% | 4.7% | 5.7% | 5.0% | 5.9% |
| Buybacks as a share of market value | -1.9% | -0.3% | 19.3% | 9.0% | 6.8% | -27.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.8% | -19.0% | 17.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -23.8% | -13.7% | -2.9% | 0.2% |
| Net margin | -32.5% | -16.2% | -5.2% | -1.6% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.2 | -8.8 | -6.8 | 37.0 | 47.1 | 22.9 | 4.0 | 26.5 | 60.9 |
| Price to sales | 1.5 | 2.5 | 2.3 | 2.3 | 2.5 | 1.9 | 0.3 | 3.7 | 9.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 May 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.05 | 0.05 | 0.177 | 0.059 | 0.177 |
- 17-for-10 split · 23 Sept 2019
- 2-for-1 split · 1 Jun 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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