B 
0.98
-2.00%
Close of 30 Oct 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¥478.1m
FY2016FY2025
Net income
−CN¥6.1m
FY2016FY2025
Free cash flow
CN¥39.6m
FY2016FY2025
Shareholders' equity
−CN¥207.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥478.1m | CN¥494.2m | CN¥711.4m | CN¥537.5m | CN¥753.0m | CN¥763.3m | CN¥1.16bn | CN¥995.1m | CN¥875.9m | CN¥583.8m |
| Research and development | — | — | CN¥14.0m | CN¥10.4m | CN¥15.3m | — | — | — | — | — |
| Operating income | CN¥57.0m | CN¥56.7m | CN¥115.5m | CN¥47.1m | −CN¥78.9m | CN¥133.3m | −CN¥1.1m | CN¥9.2m | CN¥54.2m | CN¥38.3m |
| Net income | −CN¥6.1m | −CN¥241.8m | −CN¥176.7m | −CN¥156.2m | −CN¥639.6m | −CN¥164.2m | −CN¥100.5m | −CN¥13.0m | CN¥17.7m | CN¥16.6m |
| Diluted earnings per share | -0.00 | -0.15 | -0.11 | -0.10 | -0.41 | -0.10 | -0.06 | -0.01 | 0.02 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥929.2m | CN¥801.7m | CN¥1.11bn | CN¥1.34bn | CN¥1.52bn | CN¥2.51bn | CN¥2.66bn | CN¥2.84bn | CN¥1.54bn | CN¥862.8m |
| Cash and short-term investments | CN¥90.0m | CN¥44.8m | CN¥71.8m | CN¥100.8m | CN¥120.4m | CN¥176.7m | CN¥226.1m | CN¥401.4m | CN¥495.2m | CN¥143.6m |
| Total liabilities | CN¥1.11bn | CN¥1.02bn | CN¥1.06bn | CN¥1.13bn | CN¥1.16bn | CN¥1.35bn | CN¥1.51bn | CN¥1.70bn | CN¥465.9m | CN¥492.3m |
| Debt | CN¥813.9m | CN¥772.5m | CN¥760.1m | CN¥781.4m | CN¥801.2m | CN¥817.8m | CN¥869.1m | CN¥772.1m | CN¥221.0m | CN¥228.8m |
| Shareholders' equity | −CN¥207.5m | −CN¥249.6m | −CN¥17,000 | CN¥152.8m | CN¥287.0m | CN¥1.08bn | CN¥1.05bn | CN¥1.05bn | CN¥1.04bn | CN¥296.5m |
| Shares outstanding | 1,579m | 1,579m | 1,579m | 1,579m | 1,579m | 1,579m | 1,579m | 1,461m | 1,061m | 825m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥48.2m | CN¥38.0m | CN¥97.3m | CN¥81.9m | CN¥63.2m | CN¥112.9m | CN¥225.0m | −CN¥81.5m | CN¥33.3m | CN¥45.2m |
| Capital spending | −CN¥8.6m | −CN¥7.4m | −CN¥13.9m | −CN¥16.4m | −CN¥34.3m | −CN¥32.8m | −CN¥71.3m | −CN¥42.0m | −CN¥113.4m | −CN¥42.7m |
| Free cash flow | CN¥39.6m | CN¥30.6m | CN¥83.4m | CN¥65.5m | CN¥29.0m | CN¥80.1m | CN¥153.7m | −CN¥123.5m | −CN¥80.1m | CN¥2.5m |
| Dividends paid | — | — | — | — | — | — | −CN¥422,940 | −CN¥21.3m | −CN¥21.3m | −CN¥21.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥194.3m | CN¥250.4m | CN¥227.7m | CN¥240.4m | CN¥140.0m | CN¥253.8m | CN¥147.8m | CN¥315.5m |
| Operating income | −CN¥20.8m | CN¥29.8m | CN¥27.3m | CN¥14.8m | CN¥23.2m | CN¥29.3m | CN¥17.1m | CN¥10.6m |
| Net income | −CN¥28.1m | CN¥32.2m | −CN¥38.3m | −CN¥196.7m | −CN¥114.6m | −CN¥45.1m | −CN¥26.3m | −CN¥143.1m |
| Diluted earnings per share | -0.02 | 0.02 | -0.02 | -0.12 | -0.07 | -0.03 | -0.02 | -0.09 |
| Cash from operations | — | CN¥28.0m | CN¥19.0m | CN¥17.0m | — | CN¥14.0m | CN¥8.0m | CN¥35.0m |
| Capital spending | — | −CN¥4.0m | −CN¥4.0m | — | — | −CN¥6.0m | −CN¥3.0m | −CN¥7.0m |
| Free cash flow | — | CN¥24.0m | CN¥15.0m | — | — | CN¥8.0m | CN¥5.0m | CN¥28.0m |
| Total assets | CN¥919.5m | CN¥929.2m | CN¥900.6m | CN¥801.7m | CN¥934.1m | CN¥1.04bn | CN¥1.22bn | CN¥1.29bn |
| Cash and short-term investments | CN¥71.3m | CN¥90.0m | CN¥61.6m | CN¥44.8m | CN¥52.2m | CN¥57.1m | CN¥66.5m | CN¥83.6m |
| Debt | CN¥73.3m | CN¥813.9m | CN¥904.5m | CN¥772.5m | CN¥833.2m | CN¥762.9m | CN¥104.3m | CN¥885.6m |
| Shareholders' equity | −CN¥209.1m | −CN¥207.5m | −CN¥322.1m | −CN¥249.6m | −CN¥290.8m | −CN¥49.9m | −CN¥58.2m | −CN¥19,807 |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -13.9% | -6.9% | -18.3% | -24.3% | -82.1% | -13.4% |
| Net margin | -1.3% | -48.9% | -24.8% | -29.1% | -85.0% | -21.5% |
| Return on equity | 2.9% | 96.9% | 892100.0% | -102.3% | -222.9% | -15.3% |
| Return on assets | -0.7% | -30.2% | -13.7% | -11.6% | -42.1% | -6.5% |
| Free cash flow yield | 3.2% | 2.5% | 6.2% | 6.4% | 6.3% | 9.4% |
| Revenue growth | -17.0% | -19.1% | 13.6% | -28.6% | 14.9% | -34.4% |
| Earnings growth | -97.8% | 59.5% | -2.9% | -75.6% | 353.8% | 63.4% |
| Current ratio | 0.74x | 0.17x | 0.68x | 0.67x | 0.69x | 0.74x |
| Debt to equity | -3.68x | -2.86x | -39087.00x | 4.16x | 2.14x | 0.54x |
| Equity ratio | -22.3% | -31.1% | -0.0% | 11.4% | 18.9% | 42.8% |
| Interest coverage | -1.18x | -0.73x | -2.39x | -2.54x | -13.00x | -1.72x |
| R&D as a share of sales | — | — | 2.0% | 1.9% | 2.0% | — |
| 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 | -3.8% | -8.9% | -2.9% |
| Operating income | 6.6% | -15.6% | 12.6% |
| Net income | -66.1% | -48.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.7% | 12.4% | 8.8% | 5.6% |
| Net margin | -25.5% | -26.2% | -37.0% | -18.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -134.8 | -5.4 | -8.0 | -6.2 | -2.3 | -6.3 | -14.3 | -114.9 | 67.3 | 86.7 |
| Price to sales | 1.7 | 2.6 | 2.0 | 1.8 | 1.9 | 1.4 | 1.2 | 1.5 | 1.4 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Jul 2018.
| FY2018 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.01 | 0.025 | 0.085 | 0.10 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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