C 
0.23
-6.56%
Close of 9 Nov 2026, in HKD
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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¥24.2m
FY2016FY2025
Net income
−CN¥26.0m
FY2016FY2025
Free cash flow
−CN¥24.7m
FY2016FY2025
Shareholders' equity
−CN¥273.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥24.2m | CN¥32.5m | CN¥7.4m | CN¥207.1m | CN¥226.7m | CN¥221.7m | CN¥366.0m | CN¥571.5m | CN¥604.8m | CN¥915.1m |
| Research and development | — | — | — | CN¥3.8m | CN¥6.0m | CN¥9.0m | CN¥17.1m | CN¥34.2m | CN¥8.4m | CN¥6.9m |
| Operating income | −CN¥12.4m | −CN¥18.8m | −CN¥56.2m | −CN¥10.7m | −CN¥99.4m | −CN¥92.0m | −CN¥187.1m | −CN¥246.6m | CN¥269.6m | CN¥185.7m |
| Net income | −CN¥26.0m | −CN¥45.6m | −CN¥143.6m | −CN¥66.4m | −CN¥149.5m | −CN¥357.6m | −CN¥593.2m | −CN¥957.7m | CN¥165.2m | CN¥116.2m |
| Diluted earnings per share | -0.04 | -0.17 | -0.73 | -0.03 | -0.08 | -0.19 | -0.31 | -0.56 | 0.10 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥347.5m | CN¥285.6m | CN¥329.1m | CN¥1.01bn | CN¥955.4m | CN¥1.30bn | CN¥1.80bn | CN¥2.23bn | CN¥2.76bn | CN¥2.56bn |
| Cash and short-term investments | CN¥7.2m | CN¥8.2m | CN¥1.5m | CN¥5.9m | CN¥9.4m | CN¥7.7m | CN¥73.0m | CN¥87.8m | CN¥146.9m | CN¥89.6m |
| Total liabilities | CN¥621.4m | CN¥626.8m | CN¥668.7m | CN¥1.25bn | CN¥1.17bn | CN¥1.27bn | CN¥1.70bn | CN¥1.74bn | CN¥1.33bn | CN¥1.52bn |
| Debt | CN¥316.8m | CN¥321.4m | CN¥344.9m | CN¥826.5m | CN¥832.1m | CN¥848.3m | CN¥1.03bn | CN¥1.01bn | CN¥780.0m | CN¥892.4m |
| Shareholders' equity | −CN¥273.7m | −CN¥341.2m | −CN¥339.6m | −CN¥241.7m | −CN¥211.4m | CN¥16.3m | CN¥105.3m | CN¥489.3m | CN¥1.42bn | CN¥1.03bn |
| Shares outstanding | 675m | 264m | 198m | 1,909m | 1,892m | 1,905m | 1,905m | 1,709m | 1,652m | 1,570m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥24.6m | −CN¥7.8m | CN¥50.5m | CN¥36.2m | −CN¥134.8m | CN¥26.2m | CN¥47.8m | −CN¥124.2m | CN¥147.6m | CN¥20.7m |
| Capital spending | −CN¥154,883 | −CN¥152,172 | −CN¥12.9m | −CN¥4.5m | −CN¥646,000 | −CN¥23.8m | −CN¥87.2m | −CN¥240.9m | −CN¥346.6m | −CN¥724.2m |
| Free cash flow | −CN¥24.7m | −CN¥7.9m | CN¥37.6m | CN¥31.7m | −CN¥135.4m | CN¥2.4m | −CN¥39.4m | −CN¥365.1m | −CN¥199.1m | −CN¥703.5m |
| Dividends paid | — | — | — | — | — | — | — | −CN¥56.7m | −CN¥34.0m | −CN¥13.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥23.3m | CN¥12.2m | CN¥12.0m | CN¥5.7m | CN¥26.8m | CN¥6.3m | CN¥7.4m | CN¥86.6m |
| Operating income | −CN¥1.6m | −CN¥12.3m | −CN¥97,000 | −CN¥10.1m | −CN¥1.2m | −CN¥45.7m | −CN¥2.7m | CN¥19.2m |
| Net income | −CN¥18.2m | −CN¥9.1m | −CN¥16.9m | −CN¥46.2m | CN¥565,086 | −CN¥118.0m | −CN¥5.6m | −CN¥38.2m |
| Diluted earnings per share | -0.02 | -0.01 | -0.03 | -0.17 | 0.00 | -0.60 | -0.03 | -0.02 |
| Cash from operations | — | −CN¥5.0m | −CN¥19.0m | −CN¥2.0m | −CN¥4.0m | CN¥43.0m | CN¥11.0m | CN¥11.0m |
| Capital spending | — | — | −CN¥20.0m | — | — | — | −CN¥1.0m | −CN¥2.0m |
| Free cash flow | — | — | −CN¥39.0m | — | — | — | CN¥10.0m | CN¥9.0m |
| Total assets | CN¥642.7m | CN¥347.5m | CN¥344.4m | CN¥285.6m | CN¥289.6m | CN¥329.1m | CN¥1.06bn | CN¥1.01bn |
| Cash and short-term investments | CN¥11.9m | CN¥7.2m | CN¥4.6m | CN¥8.2m | CN¥7.6m | CN¥1.5m | CN¥12.1m | CN¥5.9m |
| Debt | CN¥334.9m | CN¥316.8m | CN¥316.7m | CN¥321.4m | CN¥304.8m | CN¥344.9m | CN¥852.7m | CN¥826.5m |
| Shareholders' equity | −CN¥111.2m | −CN¥273.7m | −CN¥276.9m | −CN¥341.2m | −CN¥296.1m | −CN¥339.6m | −CN¥247.8m | −CN¥241.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -51.1% | -35.8% | -29.9% |
| Operating income | 5.0% | -33.1% | — |
| Net income | -26.8% | -40.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -55.0% | -36.2% | -40.2% | -3.3% |
| Net margin | -126.6% | -103.9% | -109.6% | -49.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.4 | -1.4 | -0.1 | -2.2 | -0.8 | -0.6 | -0.5 | -1.3 | 16.5 | 17.3 |
| Price to sales | 19.8 | 1.9 | 1.3 | 0.7 | 0.5 | 0.9 | 0.7 | 2.2 | 4.5 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2018.
| FY2018 | FY2017 | FY2016 | |
|---|---|---|---|
| Paid in the year | 0.35 | 0.25 | 0.10 |
- 10-to-1 reverse split · 3 Jul 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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