M 
0.60
-0.83%
Close of 4 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¥70.8m
FY2016FY2025
Net income
−CN¥20.0m
FY2016FY2025
Free cash flow
−CN¥16.6m
FY2016FY2025
Shareholders' equity
CN¥550.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥70.8m | CN¥85.5m | CN¥549.9m | CN¥489.5m | CN¥1.16bn | CN¥1.24bn | CN¥354.3m | CN¥567.8m | CN¥973.1m | CN¥894.8m |
| Gross profit | −CN¥331,199 | −CN¥14.7m | −CN¥141.0m | CN¥235.8m | CN¥268.6m | CN¥551.2m | CN¥133.0m | CN¥262.8m | CN¥205.4m | CN¥226.7m |
| Operating income | −CN¥30.0m | −CN¥49.6m | −CN¥223.6m | CN¥170.4m | CN¥171.8m | CN¥478.6m | CN¥70.4m | CN¥197.8m | CN¥141.9m | CN¥187.0m |
| Net income | −CN¥20.0m | −CN¥97.5m | −CN¥413.3m | CN¥59.3m | CN¥142.6m | CN¥112.7m | CN¥18.0m | CN¥33.4m | CN¥38.6m | CN¥68.0m |
| Diluted earnings per share | -0.03 | -0.13 | -0.55 | 0.08 | 0.19 | 0.15 | 0.02 | 0.06 | 0.06 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.30bn | CN¥1.24bn | CN¥1.43bn | CN¥2.75bn | CN¥2.60bn | CN¥3.40bn | CN¥3.87bn | CN¥3.78bn | CN¥1.88bn | CN¥2.03bn |
| Cash and short-term investments | CN¥94.5m | CN¥230.1m | CN¥312.1m | CN¥208.1m | CN¥348.4m | CN¥366.3m | CN¥731.9m | CN¥1.11bn | CN¥134.2m | CN¥140.4m |
| Total liabilities | CN¥621.4m | CN¥633.9m | CN¥704.9m | CN¥1.29bn | CN¥1.44bn | CN¥2.23bn | CN¥2.94bn | CN¥2.87bn | CN¥1.62bn | CN¥1.88bn |
| Debt | CN¥550,234 | CN¥587,092 | CN¥23,998 | CN¥158.6m | CN¥277.0m | CN¥369.7m | CN¥313.1m | CN¥548.4m | CN¥299.3m | CN¥35.0m |
| Shareholders' equity | CN¥550.9m | CN¥489.1m | CN¥587.5m | CN¥1.17bn | CN¥938.0m | CN¥928.9m | CN¥818.2m | CN¥794.4m | CN¥177.8m | CN¥107.1m |
| Shares outstanding | 750m | 750m | 750m | 750m | 750m | 750m | 750m | 575m | 656m | 750m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥15.6m | −CN¥63.8m | CN¥317.0m | CN¥8.3m | CN¥91.6m | −CN¥212.0m | −CN¥51.4m | CN¥711.2m | −CN¥225.0m | CN¥276.9m |
| Capital spending | −CN¥977,044 | −CN¥812,501 | −CN¥1.6m | −CN¥2.2m | −CN¥3.8m | −CN¥4.0m | −CN¥2.2m | −CN¥1.3m | −CN¥203,000 | −CN¥1.9m |
| Free cash flow | −CN¥16.6m | −CN¥64.6m | CN¥315.4m | CN¥6.0m | CN¥87.8m | −CN¥216.0m | −CN¥53.7m | CN¥709.9m | −CN¥225.2m | CN¥275.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥41.6m | CN¥27.2m | CN¥20.7m | CN¥45.9m | CN¥39.5m | CN¥269.1m | CN¥280.8m | CN¥419.3m |
| Gross profit | CN¥12.4m | −CN¥18.7m | CN¥8.3m | −CN¥27.3m | CN¥12.6m | −CN¥248.3m | CN¥107.3m | CN¥216.0m |
| Operating income | CN¥4.9m | −CN¥32.5m | CN¥60,000 | −CN¥45.5m | −CN¥4.1m | −CN¥307.6m | CN¥60.4m | CN¥164.8m |
| Net income | CN¥5.2m | −CN¥18.0m | −CN¥1.1m | −CN¥44.6m | −CN¥52.9m | −CN¥414.0m | CN¥625,660 | CN¥25.2m |
| Diluted earnings per share | 0.01 | -0.02 | -0.00 | -0.06 | -0.07 | -0.55 | 0.00 | 0.03 |
| Cash from operations | — | CN¥15.0m | −CN¥34.0m | −CN¥45.0m | −CN¥9.0m | — | CN¥316.0m | −CN¥40.0m |
| Capital spending | — | — | — | — | — | — | — | −CN¥2.0m |
| Free cash flow | — | — | — | — | — | — | — | −CN¥42.0m |
| Total assets | CN¥1.29bn | CN¥1.30bn | CN¥1.37bn | CN¥1.24bn | CN¥1.35bn | CN¥1.43bn | CN¥2.36bn | CN¥2.36bn |
| Cash and short-term investments | CN¥112.7m | CN¥94.5m | CN¥234.9m | CN¥230.1m | CN¥269.7m | CN¥311.4m | CN¥402.4m | CN¥176.2m |
| Debt | CN¥16.0m | CN¥148,062 | CN¥619,000 | CN¥587,092 | CN¥641,087 | CN¥23,998 | CN¥123.5m | CN¥135.9m |
| Shareholders' equity | CN¥562.4m | CN¥550.9m | CN¥570.9m | CN¥489.1m | CN¥536.2m | CN¥587.5m | CN¥1.00bn | CN¥1.00bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -47.5% | -43.6% | 1.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -9.6% | 6.7% | 25.0% | 27.1% |
| Operating margin | -50.9% | -11.1% | 14.4% | 17.4% |
| Net margin | -75.2% | -39.4% | -6.0% | -0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.1 | -1.8 | -0.6 | 7.2 | 4.8 | 6.4 | 39.0 | 19.1 |
| Price to sales | 3.1 | 2.0 | 0.5 | 0.9 | 0.6 | 0.6 | 2.0 | 1.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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