H 
0.45
0.00%
Close of 5 Nov 2026, in HKD
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥209.6m
FY2016FY2025
Net income
−CN¥15.6m
FY2016FY2025
Free cash flow
−CN¥363.5m
FY2016FY2025
Shareholders' equity
CN¥382.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥209.6m | CN¥38.0m | CN¥58.6m | CN¥62.6m | CN¥69.7m | CN¥25.4m | CN¥327.6m | CN¥578.1m | CN¥989.8m |
| Gross profit | CN¥2.6m | CN¥464,865 | −CN¥4.0m | −CN¥1.1m | CN¥2.2m | −CN¥1.8m | −CN¥34.1m | CN¥16.5m | CN¥121.0m |
| Operating income | −CN¥17.8m | −CN¥10.6m | −CN¥37.6m | −CN¥17.3m | −CN¥4.5m | −CN¥27.4m | −CN¥90.2m | −CN¥23.5m | CN¥63.1m |
| Net income | −CN¥15.6m | −CN¥21.0m | −CN¥123.8m | −CN¥4.8m | −CN¥27.2m | −CN¥31.4m | −CN¥294.1m | −CN¥235,863 | CN¥60.6m |
| Diluted earnings per share | -0.13 | -0.18 | -1.12 | -0.04 | -0.25 | -0.29 | -2.68 | -0.00 | 0.83 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥453.4m | CN¥401.1m | CN¥418.1m | CN¥651.5m | CN¥565.0m | CN¥601.2m | CN¥767.3m | CN¥1.15bn | CN¥1.07bn |
| Cash and short-term investments | CN¥29.0m | CN¥345.8m | CN¥338.3m | CN¥421.5m | CN¥117.3m | CN¥28.9m | CN¥37.1m | CN¥352.6m | CN¥241.9m |
| Total liabilities | CN¥74.4m | CN¥63.5m | CN¥60.7m | CN¥90.5m | CN¥72.5m | CN¥88.1m | CN¥51.4m | CN¥144.5m | CN¥176.7m |
| Debt | — | CN¥86,626 | CN¥87,484 | CN¥102,000 | CN¥87,484 | CN¥17.2m | CN¥19.5m | CN¥54.3m | CN¥134.2m |
| Shareholders' equity | CN¥382.8m | CN¥340.5m | CN¥361.0m | CN¥563.6m | CN¥491.8m | CN¥510.2m | CN¥713.0m | CN¥999.4m | CN¥886.1m |
| Shares outstanding | 115m | 115m | 110m | 110m | 110m | 110m | 110m | 127m | 73m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥363.5m | CN¥6.0m | −CN¥24.2m | CN¥243.8m | CN¥119.3m | CN¥1.4m | −CN¥179.9m | CN¥70.1m | CN¥161.7m |
| Capital spending | −CN¥4 | −CN¥42,884 | −CN¥185,260 | — | — | — | −CN¥177.8m | −CN¥31.0m | −CN¥210.2m |
| Free cash flow | −CN¥363.5m | CN¥5.9m | −CN¥24.4m | CN¥243.8m | CN¥119.3m | CN¥1.4m | −CN¥357.8m | CN¥39.1m | −CN¥48.5m |
| Dividends paid | — | — | — | — | — | — | — | — | −CN¥5.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.3m | CN¥202.2m | CN¥7.4m | CN¥10.7m | CN¥27.3m | CN¥21.8m | CN¥36.8m | CN¥46.6m |
| Gross profit | −CN¥1.7m | CN¥2.2m | CN¥346,000 | CN¥2.0m | −CN¥1.6m | −CN¥5.5m | CN¥1.5m | CN¥51,461 |
| Operating income | −CN¥11.9m | −CN¥10.1m | −CN¥7.7m | CN¥858 | −CN¥10.6m | −CN¥32.3m | −CN¥5.3m | −CN¥12.3m |
| Net income | −CN¥10.3m | −CN¥8.9m | −CN¥6.7m | −CN¥13.7m | −CN¥7.3m | −CN¥119.7m | −CN¥4.1m | −CN¥4.5m |
| Diluted earnings per share | -0.09 | -0.08 | -0.06 | -0.12 | -0.06 | -1.09 | -0.04 | -0.04 |
| Cash from operations | — | −CN¥363.0m | −CN¥87.0m | CN¥5.0m | CN¥1.0m | −CN¥12.0m | −CN¥11.0m | CN¥196.0m |
| Total assets | CN¥453.8m | CN¥453.4m | CN¥459.2m | CN¥401.1m | CN¥426.0m | CN¥418.1m | CN¥549.3m | CN¥558.8m |
| Cash and short-term investments | CN¥89.2m | CN¥29.0m | CN¥320.6m | CN¥345.8m | CN¥340.7m | CN¥338.3m | CN¥347.6m | CN¥361.6m |
| Debt | — | — | CN¥100,000 | CN¥86,626 | CN¥87,484 | CN¥87,484 | CN¥87,484 | CN¥87,484 |
| Shareholders' equity | CN¥380.9m | CN¥382.8m | CN¥390.2m | CN¥340.5m | CN¥355.5m | CN¥361.0m | CN¥467.6m | CN¥483.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 49.6% | 52.5% | -17.9% |
| Operating income | 0.9% | -8.2% | — |
| Net income | 47.6% | -13.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 1.2% | -0.6% | -0.3% | 6.9% |
| Operating margin | -11.5% | -22.6% | -24.9% | -2.0% |
| Net margin | -14.8% | -44.8% | -48.3% | -13.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -1.4 | -0.2 | -8.1 | -2.2 | -3.0 | -0.6 | -0.3 | -1167.1 | 4.4 |
| Price to sales | 0.2 | 0.8 | 0.5 | 0.6 | 0.8 | 3.7 | 19.2 | 0.3 | 0.5 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jun 2016.
| FY2016 | FY2015 | |
|---|---|---|
| Paid in the year | 0.015 | 0.015 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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