S 
1.24
+4.20%
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¥9.53bn
FY2017FY2025
Net income
−CN¥370.2m
FY2017FY2025
Free cash flow
−CN¥232.8m
FY2017FY2025
Shareholders' equity
CN¥3.13bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.53bn | CN¥10.27bn | CN¥11.39bn | CN¥11.31bn | CN¥12.00bn | CN¥10.32bn | CN¥10.47bn | CN¥6.90bn | CN¥6.44bn |
| Gross profit | CN¥695.2m | CN¥762.0m | CN¥1.31bn | CN¥1.31bn | CN¥1.35bn | CN¥941.5m | CN¥1.02bn | CN¥789.9m | CN¥701.1m |
| Research and development | CN¥122.7m | CN¥136.4m | CN¥145.6m | CN¥173.0m | CN¥162.9m | CN¥123.7m | CN¥69.1m | CN¥100.6m | CN¥76.1m |
| Operating income | −CN¥320.9m | −CN¥356.0m | CN¥416.6m | CN¥385.0m | CN¥344.2m | CN¥172.2m | CN¥370.6m | CN¥263.2m | CN¥202.0m |
| Net income | −CN¥370.2m | −CN¥386.0m | CN¥361.7m | CN¥323.3m | CN¥268.6m | CN¥57.2m | CN¥290.9m | CN¥226.7m | CN¥162.3m |
| Diluted earnings per share | -0.23 | -0.26 | 0.23 | 0.22 | 0.18 | 0.04 | 0.18 | 0.14 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.87bn | CN¥7.82bn | CN¥7.59bn | CN¥6.81bn | CN¥7.49bn | CN¥6.12bn | CN¥5.46bn | CN¥7.67bn | — |
| Cash and short-term investments | CN¥3.52bn | CN¥2.50bn | CN¥2.30bn | CN¥2.09bn | CN¥2.16bn | CN¥1.25bn | CN¥1.26bn | CN¥2.57bn | — |
| Total liabilities | CN¥5.62bn | CN¥5.01bn | CN¥4.25bn | CN¥3.79bn | CN¥4.32bn | CN¥3.17bn | CN¥2.66bn | CN¥4.29bn | — |
| Debt | CN¥3.06bn | CN¥2.92bn | CN¥2.41bn | CN¥1.80bn | CN¥2.02bn | CN¥1.22bn | CN¥729.7m | CN¥1.56bn | — |
| Shareholders' equity | CN¥3.13bn | CN¥2.71bn | CN¥3.22bn | CN¥2.95bn | CN¥3.07bn | CN¥2.86bn | CN¥2.79bn | CN¥3.30bn | — |
| Shares outstanding | 1,589m | 1,506m | 1,569m | 1,500m | 1,500m | 1,579m | 1,579m | 1,579m | 1,579m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥175.0m | CN¥164.6m | −CN¥48.5m | CN¥589.2m | CN¥331.0m | CN¥341.5m | CN¥577.6m | — | — |
| Capital spending | −CN¥57.8m | −CN¥218.5m | −CN¥117.7m | −CN¥174.5m | −CN¥51.3m | −CN¥183.7m | −CN¥129.1m | — | — |
| Free cash flow | −CN¥232.8m | −CN¥53.9m | −CN¥166.2m | CN¥414.7m | CN¥279.8m | CN¥157.8m | CN¥448.5m | — | — |
| Dividends paid | −CN¥11.4m | −CN¥65.3m | −CN¥120.8m | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.85bn | CN¥4.43bn | CN¥5.10bn | CN¥4.68bn | CN¥5.59bn | CN¥5.10bn | CN¥7.34bn | CN¥6.29bn |
| Gross profit | CN¥710.8m | CN¥444.2m | CN¥251.3m | CN¥142.0m | CN¥620.0m | CN¥599.9m | CN¥831.0m | CN¥744.8m |
| Operating income | CN¥60.2m | CN¥37.9m | CN¥373.0m | −CN¥469.4m | CN¥127.9m | CN¥133.7m | CN¥308.4m | CN¥146.3m |
| Net income | CN¥39.2m | CN¥28.6m | −CN¥398.9m | −CN¥474.5m | CN¥88.5m | CN¥100.9m | CN¥304.1m | CN¥150.2m |
| Diluted earnings per share | 0.02 | 0.02 | -0.25 | -0.32 | 0.06 | 0.06 | 0.19 | 0.10 |
| Cash from operations | — | −CN¥6.0m | −CN¥175.0m | −CN¥131.0m | CN¥323.0m | −CN¥319.0m | CN¥225.0m | CN¥76.0m |
| Capital spending | — | −CN¥23.0m | −CN¥33.0m | −CN¥149.0m | −CN¥101.0m | −CN¥89.0m | −CN¥36.0m | −CN¥114.0m |
| Free cash flow | — | −CN¥29.0m | −CN¥208.0m | −CN¥280.0m | CN¥222.0m | −CN¥408.0m | CN¥189.0m | −CN¥38.0m |
| Total assets | CN¥9.94bn | CN¥8.87bn | CN¥8.49bn | CN¥7.82bn | CN¥8.58bn | CN¥7.59bn | CN¥8.68bn | CN¥7.94bn |
| Cash and short-term investments | CN¥4.31bn | CN¥3.52bn | CN¥4.31bn | CN¥2.50bn | CN¥2.95bn | CN¥2.30bn | CN¥3.10bn | CN¥2.44bn |
| Debt | CN¥3.69bn | CN¥3.49bn | CN¥3.42bn | CN¥2.92bn | CN¥3.35bn | CN¥2.41bn | CN¥1.42bn | CN¥1.48bn |
| Shareholders' equity | CN¥3.02bn | CN¥3.13bn | CN¥2.77bn | CN¥2.71bn | CN¥3.23bn | CN¥3.22bn | CN¥4.08bn | CN¥3.45bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 7.3% | 7.4% | 11.5% | 11.6% | 11.2% | 9.1% |
| Operating margin | -3.1% | -3.2% | 4.0% | 3.8% | 3.3% | 1.4% |
| Net margin | -3.9% | -3.8% | 3.2% | 2.9% | 2.2% | 0.6% |
| Return on equity | -11.8% | -14.3% | 11.2% | 10.9% | 8.7% | 2.0% |
| Return on assets | -4.2% | -4.9% | 4.8% | 4.7% | 3.6% | 0.9% |
| Free cash flow yield | -7.3% | 8.5% | -2.4% | 30.4% | 14.7% | 14.4% |
| Revenue growth | -20.4% | -9.8% | 0.7% | 9.9% | 16.2% | -1.4% |
| Earnings growth | -17.8% | -206.7% | 11.9% | 40.4% | 369.5% | -80.3% |
| Current ratio | 1.37x | 1.26x | 1.50x | 1.50x | 1.44x | 1.51x |
| Debt to equity | 0.98x | 0.94x | 0.60x | 0.46x | 0.57x | 0.38x |
| Equity ratio | 35.3% | 34.6% | 42.5% | 43.4% | 41.1% | 46.8% |
| Interest coverage | -2.57x | -3.26x | 6.03x | 5.14x | 4.29x | 2.38x |
| R&D as a share of sales | 1.3% | 1.3% | 1.3% | 1.5% | 1.4% | 1.2% |
| Buybacks as a share of market value | -5.5% | 4.0% | -4.6% | 0.0% | 5.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.5% | -1.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.4% | 9.6% | 9.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -6.5 | -4.8 | 23.2 |
| Price to sales | 0.3 | 0.2 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 9 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.005 | 0.007 | 0.047 | 0.085 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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