H 
1.59
+1.92%
Close of 9 Nov 2026, in CNY
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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¥309.7m
FY2016FY2025
Net income
−CN¥333.7m
FY2016FY2025
Free cash flow
−CN¥37.5m
FY2016FY2025
Shareholders' equity
CN¥27.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥309.7m | CN¥465.2m | CN¥666.2m | CN¥402.3m | CN¥1.40bn | CN¥1.37bn | CN¥2.24bn | CN¥3.89bn | CN¥3.95bn | CN¥3.50bn |
| Gross profit | CN¥94.8m | CN¥162.8m | CN¥222.6m | −CN¥55.8m | CN¥400.9m | CN¥322.7m | CN¥460.0m | CN¥1.55bn | CN¥1.76bn | CN¥1.79bn |
| Research and development | — | — | — | — | CN¥6.9m | CN¥7.5m | CN¥64.0m | CN¥48.0m | CN¥41.2m | CN¥84.5m |
| Operating income | −CN¥82.1m | −CN¥77.7m | −CN¥505.0m | −CN¥921.8m | −CN¥268.3m | −CN¥1.16bn | −CN¥3.81bn | −CN¥859.8m | CN¥816.2m | CN¥338.7m |
| Net income | −CN¥333.7m | −CN¥284.6m | −CN¥538.8m | −CN¥981.1m | −CN¥246.2m | −CN¥1.05bn | −CN¥3.98bn | −CN¥1.09bn | CN¥828.3m | CN¥808.1m |
| Diluted earnings per share | -0.12 | -0.10 | -0.19 | -0.39 | -0.09 | -0.36 | -1.39 | -0.35 | 0.29 | 0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.20bn | CN¥3.03bn | CN¥4.04bn | CN¥5.24bn | CN¥7.09bn | CN¥9.60bn | CN¥10.83bn | CN¥18.36bn | CN¥20.15bn | CN¥19.85bn |
| Cash and short-term investments | — | CN¥364.3m | CN¥239.4m | CN¥333.6m | CN¥621.2m | CN¥643.8m | CN¥583.7m | CN¥2.64bn | CN¥4.23bn | CN¥5.46bn |
| Total liabilities | CN¥2.11bn | CN¥2.61bn | CN¥3.20bn | CN¥3.80bn | CN¥4.54bn | CN¥5.97bn | CN¥5.90bn | CN¥8.85bn | CN¥9.60bn | CN¥10.00bn |
| Debt | CN¥116.7m | CN¥730.7m | CN¥1.05bn | CN¥2.06bn | CN¥2.45bn | CN¥3.36bn | CN¥3.71bn | CN¥5.36bn | CN¥5.90bn | CN¥5.54bn |
| Shareholders' equity | CN¥27.1m | CN¥361.5m | CN¥675.0m | CN¥1.27bn | CN¥2.33bn | CN¥3.07bn | CN¥4.35bn | CN¥8.47bn | CN¥9.66bn | CN¥9.04bn |
| Shares outstanding | 2,775m | 2,815m | 2,890m | 2,534m | 2,615m | 2,932m | 2,867m | 3,131m | 2,872m | 3,421m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥26.9m | −CN¥32.3m | CN¥82.8m | −CN¥90.5m | CN¥234.4m | CN¥246.4m | CN¥90.4m | CN¥582.2m | −CN¥214.6m | CN¥759.1m |
| Capital spending | −CN¥10.6m | −CN¥19.4m | −CN¥4.4m | −CN¥13.4m | −CN¥45.8m | −CN¥17.7m | −CN¥155.8m | −CN¥156.3m | −CN¥130.7m | −CN¥265.9m |
| Free cash flow | −CN¥37.5m | −CN¥51.6m | CN¥78.4m | −CN¥103.9m | CN¥188.6m | CN¥228.7m | −CN¥65.4m | CN¥425.8m | −CN¥345.3m | CN¥493.2m |
| Dividends paid | −CN¥23.9m | −CN¥43.3m | −CN¥48.8m | −CN¥54.0m | −CN¥142.4m | −CN¥204.2m | −CN¥388.4m | −CN¥468.5m | −CN¥422.1m | −CN¥294.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥22.8m | CN¥62.6m | CN¥94.2m | CN¥62.6m | CN¥46.9m | CN¥105.9m | CN¥65.6m | CN¥91.5m |
| Gross profit | −CN¥906,306 | CN¥17.0m | CN¥30.8m | CN¥10.4m | CN¥9.4m | CN¥44.1m | −CN¥7.5m | CN¥5.3m |
| Operating income | −CN¥34.8m | −CN¥16.6m | −CN¥8.1m | −CN¥40.0m | −CN¥35.9m | CN¥19.3m | −CN¥95.4m | −CN¥55.3m |
| Net income | −CN¥7.7m | −CN¥28.7m | −CN¥219.8m | −CN¥39.5m | −CN¥94.2m | CN¥19.8m | −CN¥242.1m | −CN¥67.2m |
| Diluted earnings per share | -0.00 | -0.01 | -0.08 | -0.01 | -0.03 | 0.01 | -0.09 | -0.02 |
| Cash from operations | — | — | — | — | −CN¥12.0m | −CN¥16.0m | — | −CN¥10.0m |
| Capital spending | — | — | — | — | −CN¥1.0m | −CN¥8.0m | −CN¥6.0m | −CN¥4.0m |
| Free cash flow | — | — | — | — | −CN¥13.0m | −CN¥24.0m | — | −CN¥14.0m |
| Total assets | CN¥2.13bn | CN¥2.16bn | CN¥2.20bn | CN¥2.62bn | CN¥2.70bn | CN¥2.95bn | CN¥3.03bn | CN¥3.68bn |
| Cash and short-term investments | — | — | — | CN¥58.5m | CN¥78.2m | CN¥233.9m | CN¥364.3m | CN¥175.8m |
| Debt | CN¥121.3m | CN¥119.0m | CN¥116.7m | CN¥527.6m | CN¥321.6m | CN¥637.8m | CN¥376.5m | CN¥588.7m |
| Shareholders' equity | −CN¥58.6m | −CN¥11.5m | CN¥27.1m | CN¥263.2m | CN¥300.6m | CN¥385.3m | CN¥361.5m | CN¥623.3m |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 30.6% | 35.0% | 33.4% | -13.9% | 28.7% | 23.5% | — | — | — | — |
| Operating margin | -57.1% | -16.7% | -4.8% | -83.5% | -19.2% | -23.7% | — | — | — | — |
| Net margin | -107.8% | -61.2% | -80.9% | -243.9% | -17.6% | -76.3% | — | — | — | — |
| Return on equity | -1231.0% | -78.7% | -79.8% | -77.3% | -10.6% | -34.1% | — | — | — | — |
| Return on assets | -15.2% | -9.4% | -13.3% | -18.7% | -3.5% | -10.9% | — | — | — | — |
| Free cash flow yield | -0.4% | -0.3% | 1.9% | -1.9% | 6.6% | 5.6% | — | — | — | — |
| Revenue growth | -33.4% | -30.2% | 65.6% | -71.2% | 1.9% | -38.8% | — | — | — | — |
| Earnings growth | 17.3% | -47.2% | -45.1% | 298.4% | -76.5% | -73.7% | — | — | — | — |
| Current ratio | 0.31x | 0.45x | 0.56x | 0.67x | 0.72x | 0.73x | — | — | — | — |
| Debt to equity | 4.30x | 1.04x | 0.97x | 1.22x | 0.54x | 1.11x | — | — | — | — |
| Equity ratio | 1.2% | 11.9% | 16.7% | 24.2% | 32.9% | 32.0% | — | — | — | — |
| Interest coverage | -2.15x | -0.77x | -0.26x | -2.57x | -1.10x | -1.15x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | 0.5% | 0.5% | 2.9% | 1.2% | 1.0% | 2.4% |
| Buybacks as a share of market value | 1.4% | 2.6% | -14.1% | 3.1% | 10.8% | -2.3% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.4% | -25.8% | -22.3% |
| Operating income | -55.3% | -41.1% | — |
| Net income | -30.2% | -20.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 33.2% | 23.0% | 24.9% | 39.1% |
| Operating margin | -20.6% | -86.1% | -65.4% | -23.3% |
| Net margin | -79.8% | -116.0% | -74.4% | -26.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.0 | -25.9 | -14.4 | -7.2 | -42.1 | -12.0 | -3.3 | -13.4 | 30.3 | 46.6 |
| Price to sales | 19.4 | 15.8 | 11.6 | 17.5 | 7.4 | 9.2 | 5.9 | 3.8 | 6.3 | 10.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.038 | 0.038 | 0.028 |
- 1.999-for-1 split · 3 May 2016
- 2-for-1 split · 10 Oct 2013
- 9-for-5 split · 15 Apr 2011
- 2-for-1 split · 28 Apr 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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