S 
13.44
+0.45%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.12bn
FY2016FY2025
Net income
−CN¥397.9m
FY2016FY2025
Free cash flow
CN¥4.0m
FY2016FY2025
Shareholders' equity
CN¥4.14bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.12bn | CN¥4.14bn | CN¥3.97bn | CN¥3.58bn | CN¥3.30bn | CN¥2.66bn | CN¥2.75bn | CN¥3.09bn | CN¥2.46bn | CN¥2.03bn |
| Gross profit | CN¥514.4m | CN¥506.5m | CN¥504.7m | CN¥173.7m | −CN¥70.6m | CN¥196.7m | CN¥764.0m | CN¥971.8m | CN¥811.8m | CN¥644.7m |
| Research and development | CN¥224.8m | CN¥226.9m | CN¥197.7m | CN¥349.3m | CN¥307.3m | CN¥449.3m | CN¥233.2m | CN¥146.0m | CN¥112.1m | CN¥70.6m |
| Operating income | −CN¥58.3m | −CN¥199.2m | CN¥115.3m | CN¥86.7m | −CN¥618.8m | −CN¥694.8m | CN¥317.9m | CN¥401.0m | CN¥454.3m | CN¥319.0m |
| Net income | −CN¥397.9m | −CN¥193.7m | CN¥48.6m | CN¥44.4m | −CN¥562.4m | −CN¥395.7m | CN¥292.9m | CN¥449.4m | CN¥432.4m | CN¥410.8m |
| Diluted earnings per share | -0.25 | -0.12 | 0.03 | 0.03 | -0.36 | -0.25 | 0.19 | 0.27 | 0.27 | 0.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.61bn | CN¥11.99bn | CN¥11.87bn | CN¥12.04bn | CN¥11.11bn | CN¥10.84bn | CN¥10.57bn | CN¥9.55bn | CN¥8.42bn | CN¥7.08bn |
| Cash and short-term investments | — | CN¥2.27bn | CN¥2.08bn | CN¥2.62bn | CN¥2.41bn | CN¥2.23bn | CN¥1.66bn | CN¥2.08bn | CN¥2.13bn | CN¥2.37bn |
| Total liabilities | CN¥7.17bn | CN¥7.27bn | CN¥7.40bn | CN¥7.67bn | CN¥6.83bn | CN¥5.97bn | CN¥5.35bn | CN¥3.24bn | CN¥2.41bn | CN¥1.44bn |
| Debt | CN¥1.06bn | CN¥1.67bn | CN¥1.80bn | CN¥1.98bn | CN¥1.82bn | CN¥1.80bn | CN¥1.49bn | CN¥1.56bn | CN¥1.19bn | CN¥414.5m |
| Shareholders' equity | CN¥4.14bn | CN¥4.43bn | CN¥4.37bn | CN¥4.25bn | CN¥4.15bn | CN¥4.77bn | CN¥5.14bn | CN¥6.23bn | CN¥5.93bn | CN¥5.57bn |
| Shares outstanding | 1,566m | 1,557m | 1,550m | 1,547m | 1,560m | 1,556m | 1,550m | 1,663m | 1,616m | 1,655m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥161.3m | −CN¥41.7m | −CN¥222.9m | −CN¥403.0m | CN¥99.9m | CN¥237.4m | CN¥6.6m | CN¥54.6m | −CN¥386.0m | −CN¥156.9m |
| Capital spending | −CN¥157.3m | −CN¥123.6m | −CN¥113.6m | −CN¥62.7m | −CN¥136.5m | −CN¥76.0m | −CN¥110.3m | −CN¥223.9m | −CN¥431.1m | −CN¥159.5m |
| Free cash flow | CN¥4.0m | −CN¥165.3m | −CN¥336.5m | −CN¥465.7m | −CN¥36.6m | CN¥161.4m | −CN¥103.7m | −CN¥169.3m | −CN¥817.2m | −CN¥316.4m |
| Dividends paid | −CN¥56.3m | −CN¥64.1m | −CN¥84.9m | −CN¥79.9m | −CN¥79.4m | −CN¥84.3m | −CN¥97.7m | −CN¥157.3m | −CN¥35.0m | −CN¥78.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥821.0m | CN¥630.3m | CN¥1.90bn | CN¥558.4m | CN¥971.8m | CN¥688.3m | CN¥1.71bn | CN¥769.6m |
| Gross profit | CN¥150.8m | CN¥89.1m | CN¥208.6m | CN¥63.2m | CN¥123.7m | CN¥100.7m | CN¥156.5m | CN¥122.1m |
| Operating income | −CN¥25.8m | −CN¥72.8m | CN¥40.0m | −CN¥75.1m | −CN¥44.0m | −CN¥45.7m | −CN¥96.8m | CN¥38.0m |
| Net income | −CN¥96.6m | −CN¥92.5m | −CN¥238.4m | −CN¥64.2m | −CN¥45.1m | −CN¥50.3m | −CN¥94.0m | −CN¥37.9m |
| Diluted earnings per share | -0.06 | -0.06 | -0.15 | -0.04 | -0.03 | -0.03 | -0.06 | -0.02 |
| Cash from operations | — | — | — | −CN¥84.0m | −CN¥28.0m | −CN¥236.0m | CN¥177.0m | — |
| Capital spending | −CN¥26.0m | −CN¥68.0m | −CN¥35.0m | −CN¥80.0m | −CN¥12.0m | −CN¥30.0m | −CN¥35.0m | −CN¥40.0m |
| Free cash flow | — | — | — | −CN¥164.0m | −CN¥40.0m | −CN¥266.0m | CN¥142.0m | — |
| Total assets | CN¥12.51bn | CN¥11.88bn | CN¥11.61bn | CN¥12.00bn | CN¥12.05bn | CN¥11.97bn | CN¥11.99bn | CN¥12.15bn |
| Cash and short-term investments | — | — | — | CN¥1.70bn | CN¥2.07bn | CN¥2.12bn | CN¥2.27bn | CN¥2.16bn |
| Debt | CN¥862.4m | CN¥982.3m | CN¥1.06bn | CN¥1.64bn | CN¥1.82bn | CN¥1.71bn | CN¥1.58bn | CN¥1.61bn |
| Shareholders' equity | CN¥4.05bn | CN¥4.05bn | CN¥4.14bn | CN¥4.30bn | CN¥4.37bn | CN¥4.38bn | CN¥4.43bn | CN¥4.35bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 12.5% | 12.2% | 12.7% | 4.9% | -2.1% | 7.4% |
| Operating margin | -1.4% | -4.8% | 2.9% | 2.4% | -18.8% | -26.1% |
| Net margin | -9.7% | -4.7% | 1.2% | 1.2% | -17.1% | -14.9% |
| Return on equity | -9.6% | -4.4% | 1.1% | 1.0% | -13.5% | -8.3% |
| Return on assets | -3.4% | -1.6% | 0.4% | 0.4% | -5.1% | -3.7% |
| Free cash flow yield | 1.5% | 0.4% | -0.5% | -1.7% | 1.1% | 1.5% |
| Revenue growth | -0.4% | 4.3% | 10.9% | 8.4% | 24.0% | -3.1% |
| Earnings growth | 105.4% | -498.8% | 9.5% | -107.9% | 42.1% | -235.1% |
| Current ratio | 1.30x | 1.32x | 1.33x | 1.31x | 1.36x | 1.49x |
| Debt to equity | 0.26x | 0.36x | 0.40x | 0.46x | 0.43x | 0.37x |
| Equity ratio | 35.7% | 37.0% | 36.8% | 35.3% | 37.4% | 44.0% |
| Interest coverage | -0.97x | -2.85x | 1.39x | 1.06x | -7.62x | -8.24x |
| R&D as a share of sales | 5.5% | 5.5% | 5.0% | 9.8% | 9.3% | 16.9% |
| Buybacks as a share of market value | -0.6% | -0.4% | -0.2% | 0.8% | -0.2% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.9% | 9.2% | 9.4% |
| Operating income | — | -39.1% | — |
| Net income | — | 0.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.4% | 10.8% | 8.4% | 16.6% |
| Operating margin | -3.1% | -0.4% | -6.3% | 1.3% |
| Net margin | -7.2% | -3.2% | -6.7% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -71.6 | -144.3 | 378.8 | 313.1 | -31.0 | -48.4 | 74.1 | 48.9 | 70.3 | 86.2 |
| Price to sales | 6.9 | 6.8 | 4.6 | 3.9 | 5.3 | 7.2 | 7.9 | 7.1 | 12.4 | 17.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 15 Jun 2018.
| FY2018 | FY2016 | FY2015 | FY2014 | FY2013 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.045 | 0.023 | 0.031 | 0.021 | 0.009 | 0.004 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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