Q 
0.37
-2.67%
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¥5.08bn
FY2016FY2025
Net income
−CN¥30.6m
FY2016FY2025
Free cash flow
−CN¥729.1m
FY2016FY2025
Shareholders' equity
CN¥8.52bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.08bn | CN¥4.12bn | CN¥4.19bn | CN¥3.78bn | CN¥5.62bn | CN¥5.93bn | CN¥5.50bn | CN¥6.12bn | CN¥5.91bn | CN¥5.40bn |
| Gross profit | CN¥457.4m | CN¥270.9m | CN¥260.1m | CN¥134.1m | CN¥645.5m | CN¥814.4m | CN¥988.1m | CN¥1.16bn | CN¥1.07bn | CN¥1.01bn |
| Research and development | CN¥250.2m | CN¥185.8m | CN¥207.0m | CN¥283.1m | CN¥314.3m | CN¥266.6m | CN¥247.8m | CN¥218.8m | CN¥144.6m | CN¥66.8m |
| Operating income | −CN¥297.6m | −CN¥231.0m | −CN¥274.7m | −CN¥488.4m | CN¥402.8m | −CN¥13.2m | CN¥236.4m | CN¥362.5m | CN¥393.7m | CN¥449.4m |
| Net income | −CN¥30.6m | −CN¥55.1m | −CN¥63.2m | −CN¥17.0m | CN¥375.1m | CN¥350.5m | CN¥402.1m | CN¥528.4m | CN¥578.7m | CN¥560.4m |
| Diluted earnings per share | -0.01 | -0.02 | -0.03 | -0.01 | 0.15 | 0.14 | 0.16 | 0.21 | 0.23 | 0.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.28bn | CN¥10.18bn | CN¥11.63bn | CN¥12.05bn | CN¥12.70bn | CN¥12.77bn | CN¥12.80bn | CN¥12.68bn | CN¥12.60bn | CN¥11.88bn |
| Cash and short-term investments | CN¥5.09bn | CN¥2.96bn | CN¥2.93bn | CN¥4.53bn | CN¥2.65bn | CN¥3.82bn | CN¥7.06bn | CN¥6.74bn | CN¥6.51bn | CN¥6.39bn |
| Total liabilities | CN¥3.54bn | CN¥2.66bn | CN¥2.62bn | CN¥2.98bn | CN¥3.31bn | CN¥3.47bn | CN¥3.39bn | CN¥3.22bn | CN¥3.21bn | CN¥2.61bn |
| Debt | CN¥8.7m | CN¥19.8m | CN¥35.9m | CN¥42.2m | CN¥24.7m | CN¥62.4m | CN¥88.3m | — | — | — |
| Shareholders' equity | CN¥8.52bn | CN¥7.34bn | CN¥8.61bn | CN¥8.68bn | CN¥9.01bn | CN¥8.93bn | CN¥9.04bn | CN¥9.10bn | CN¥9.03bn | CN¥8.92bn |
| Shares outstanding | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m | 2,482m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥585.5m | CN¥114.8m | −CN¥401.6m | CN¥350.1m | CN¥14.2m | −CN¥225.7m | CN¥806.0m | CN¥634.8m | CN¥454.0m | CN¥1.00bn |
| Capital spending | −CN¥143.6m | −CN¥162.3m | −CN¥203.0m | −CN¥193.1m | −CN¥161.4m | −CN¥208.4m | −CN¥142.3m | −CN¥59.7m | −CN¥73.3m | −CN¥97.2m |
| Free cash flow | −CN¥729.1m | −CN¥47.5m | −CN¥604.7m | CN¥157.0m | −CN¥147.2m | −CN¥434.1m | CN¥663.7m | CN¥575.1m | CN¥380.6m | CN¥905.7m |
| Dividends paid | — | — | — | −CN¥318.0m | −CN¥289.1m | −CN¥462.5m | −CN¥462.5m | −CN¥462.5m | −CN¥462.5m | −CN¥462.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.04bn | CN¥2.67bn | CN¥2.41bn | CN¥2.01bn | CN¥2.11bn | CN¥1.66bn | CN¥2.25bn | CN¥1.55bn |
| Gross profit | CN¥141.6m | CN¥295.8m | CN¥161.6m | CN¥123.5m | CN¥147.3m | CN¥55.7m | CN¥195.2m | −CN¥69.9m |
| Operating income | −CN¥205.1m | −CN¥115.8m | −CN¥181.8m | −CN¥198.5m | −CN¥133.4m | −CN¥233.5m | −CN¥135.4m | −CN¥353.7m |
| Net income | −CN¥106.0m | CN¥10.7m | −CN¥41.4m | −CN¥42.8m | −CN¥12.3m | −CN¥61.2m | CN¥8.1m | −CN¥50.7m |
| Diluted earnings per share | -0.04 | 0.00 | -0.02 | -0.02 | -0.00 | -0.02 | 0.00 | -0.02 |
| Cash from operations | — | −CN¥232.0m | −CN¥353.0m | CN¥164.0m | −CN¥57.0m | CN¥296.0m | −CN¥698.0m | −CN¥216.0m |
| Capital spending | — | −CN¥66.0m | −CN¥76.0m | −CN¥38.0m | −CN¥67.0m | −CN¥82.0m | −CN¥70.0m | −CN¥65.0m |
| Free cash flow | — | −CN¥298.0m | −CN¥429.0m | CN¥126.0m | −CN¥124.0m | CN¥214.0m | −CN¥768.0m | −CN¥281.0m |
| Total assets | CN¥12.71bn | CN¥12.28bn | CN¥11.70bn | CN¥10.18bn | CN¥10.38bn | CN¥11.63bn | CN¥11.56bn | CN¥12.05bn |
| Cash and short-term investments | CN¥5.51bn | CN¥5.09bn | CN¥5.29bn | CN¥2.96bn | CN¥2.54bn | CN¥2.93bn | CN¥1.99bn | CN¥4.53bn |
| Debt | CN¥23.3m | CN¥15.5m | CN¥27.6m | CN¥19.8m | CN¥28.1m | −CN¥730.4m | CN¥15.3m | CN¥49.1m |
| Shareholders' equity | CN¥8.44bn | CN¥8.52bn | CN¥8.51bn | CN¥7.34bn | CN¥7.39bn | CN¥8.61bn | CN¥8.69bn | CN¥8.68bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.0% | 6.6% | 6.2% | 3.5% | 11.5% | 13.7% |
| Operating margin | -5.9% | -8.1% | -1.3% | -12.9% | -4.0% | -0.2% |
| Net margin | -0.6% | -1.3% | -1.5% | -0.4% | 6.7% | 5.9% |
| Return on equity | -0.4% | -0.8% | -0.7% | -0.2% | 4.2% | 3.9% |
| Return on assets | -0.2% | -0.5% | -0.5% | -0.1% | 3.0% | 2.7% |
| Free cash flow yield | -46.3% | 33.8% | -20.8% | 56.9% | 18.4% | -1.8% |
| Revenue growth | 5.9% | 14.7% | 10.7% | -32.7% | -5.1% | 7.7% |
| Earnings growth | -52.2% | 1.5% | 272.3% | -104.5% | 7.0% | -12.8% |
| Current ratio | 2.57x | 2.11x | 2.42x | 2.72x | 2.09x | 2.33x |
| Debt to equity | 0.00x | 0.00x | -0.09x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 69.4% | 72.1% | 74.1% | 72.0% | 71.0% | 69.9% |
| Interest coverage | -96.30x | -151.65x | -27.13x | -88.92x | -139.96x | -7.11x |
| R&D as a share of sales | 4.9% | 4.5% | 4.9% | 7.5% | 5.6% | 4.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.4% | -3.0% | -2.3% |
| Operating income | -15.2% | 86.6% | — |
| Net income | 21.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.9% | 6.5% | 9.0% | 13.8% |
| Operating margin | -5.7% | -7.5% | -3.1% | 1.7% |
| Net margin | -0.9% | -1.0% | 1.9% | 5.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -64.5 | -19.9 | -17.4 | -126.7 | 9.1 | 9.4 | 10.2 | 8.2 | 9.3 | 9.0 |
| Price to sales | 0.4 | 0.3 | 0.3 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.9 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.129 | 0.121 | 0.002 | 0.002 | 0.002 | 0.002 | 0.002 | 0.002 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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