J 
3.38
-0.88%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.58bn
FY2016FY2025
Net income
CN¥6.7m
FY2016FY2025
Free cash flow
CN¥64.0m
FY2016FY2025
Shareholders' equity
CN¥667.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.58bn | CN¥1.49bn | CN¥2.67bn | CN¥3.86bn | CN¥1.89bn | CN¥1.74bn | CN¥1.73bn | CN¥3.37bn | CN¥3.71bn | CN¥3.38bn |
| Gross profit | CN¥238.0m | CN¥142.3m | CN¥106.2m | CN¥351.1m | CN¥317.5m | CN¥248.1m | CN¥214.7m | −CN¥167.2m | CN¥435.5m | CN¥342.3m |
| Research and development | CN¥48.2m | CN¥63.4m | CN¥110.4m | CN¥99.1m | CN¥75.3m | CN¥62.5m | CN¥60.5m | CN¥161.1m | CN¥147.8m | CN¥99.8m |
| Operating income | CN¥36.3m | −CN¥116.8m | −CN¥372.1m | CN¥55.7m | −CN¥113.2m | −CN¥233.3m | CN¥41.9m | −CN¥2.45bn | −CN¥436.9m | CN¥192.0m |
| Net income | CN¥6.7m | −CN¥121.1m | −CN¥378.7m | CN¥51.8m | −CN¥101.6m | −CN¥241.4m | CN¥47.0m | −CN¥2.40bn | −CN¥418.6m | CN¥136.3m |
| Diluted earnings per share | 0.01 | -0.15 | -0.47 | 0.06 | -0.13 | -0.30 | 0.06 | -3.00 | -0.53 | 0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.55bn | CN¥1.64bn | CN¥2.07bn | CN¥3.22bn | CN¥2.88bn | CN¥2.27bn | CN¥2.36bn | CN¥2.41bn | CN¥7.06bn | CN¥6.45bn |
| Cash and short-term investments | — | CN¥242.3m | CN¥138.4m | CN¥351.4m | CN¥230.6m | CN¥159.9m | CN¥197.4m | CN¥143.4m | CN¥1.54bn | CN¥2.43bn |
| Total liabilities | CN¥886.2m | CN¥985.7m | CN¥1.27bn | CN¥2.05bn | CN¥1.77bn | CN¥1.07bn | CN¥912.4m | CN¥1.00bn | CN¥3.04bn | CN¥1.77bn |
| Debt | — | CN¥259.2m | CN¥407.8m | CN¥503.9m | CN¥810.7m | CN¥373.6m | CN¥395.4m | CN¥220.8m | CN¥1.82bn | CN¥812.1m |
| Shareholders' equity | CN¥667.6m | CN¥661.2m | CN¥806.3m | CN¥1.19bn | CN¥1.14bn | CN¥1.24bn | CN¥1.48bn | CN¥1.42bn | CN¥4.04bn | CN¥4.69bn |
| Shares outstanding | 800m | 801m | 809m | 800m | 803m | 806m | 723m | 801m | 788m | 751m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥79.1m | CN¥15.3m | −CN¥230.2m | CN¥349.7m | −CN¥77.4m | −CN¥36.2m | CN¥140.2m | CN¥349.3m | −CN¥73.4m | CN¥211.2m |
| Capital spending | −CN¥15.1m | −CN¥22.8m | −CN¥182.2m | −CN¥158.1m | −CN¥106.2m | −CN¥84.7m | −CN¥113.0m | −CN¥274.4m | −CN¥488.2m | −CN¥329.8m |
| Free cash flow | CN¥64.0m | −CN¥7.4m | −CN¥412.4m | CN¥191.5m | −CN¥183.6m | −CN¥120.9m | CN¥27.2m | CN¥74.9m | −CN¥561.6m | −CN¥118.6m |
| Dividends paid | −CN¥6.9m | −CN¥9.5m | −CN¥9.4m | −CN¥22.8m | −CN¥14.8m | −CN¥18.1m | −CN¥11.3m | −CN¥63.6m | −CN¥145.4m | −CN¥114.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥301.2m | CN¥257.6m | CN¥368.6m | CN¥418.7m | CN¥442.8m | CN¥350.2m | CN¥433.4m | CN¥412.4m |
| Gross profit | CN¥28.7m | CN¥36.5m | CN¥45.5m | CN¥107.8m | CN¥42.4m | CN¥42.4m | CN¥10.3m | CN¥71.1m |
| Operating income | −CN¥16.1m | −CN¥887,218 | −CN¥12.2m | CN¥23.6m | −CN¥408,273 | CN¥18.8m | −CN¥62.3m | −CN¥19.4m |
| Net income | −CN¥36.7m | −CN¥20.1m | −CN¥23.0m | CN¥19.4m | −CN¥6.3m | CN¥16.5m | −CN¥60.9m | −CN¥22.6m |
| Diluted earnings per share | -0.05 | -0.03 | -0.03 | 0.02 | -0.01 | 0.02 | -0.08 | -0.03 |
| Cash from operations | — | — | — | CN¥50.0m | −CN¥26.0m | CN¥29.0m | — | — |
| Capital spending | — | −CN¥1.0m | −CN¥2.0m | −CN¥4.0m | −CN¥2.0m | −CN¥5.0m | −CN¥5.0m | −CN¥3.0m |
| Free cash flow | — | — | — | CN¥46.0m | −CN¥28.0m | CN¥24.0m | — | — |
| Total assets | CN¥1.47bn | CN¥1.46bn | CN¥1.55bn | CN¥1.65bn | CN¥1.70bn | CN¥1.68bn | CN¥1.64bn | CN¥1.77bn |
| Cash and short-term investments | — | — | — | CN¥422.5m | CN¥377.1m | CN¥413.1m | CN¥242.3m | CN¥286.7m |
| Debt | — | — | — | CN¥204.7m | CN¥183.4m | CN¥187.5m | CN¥115.8m | CN¥208.7m |
| Shareholders' equity | CN¥610.5m | CN¥647.3m | CN¥667.6m | CN¥690.7m | CN¥671.4m | CN¥677.7m | CN¥661.2m | CN¥721.5m |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 15.1% | 9.5% | 4.0% | 9.1% | 16.8% | 14.2% | — |
| Operating margin | 1.1% | -7.7% | -14.0% | 2.7% | -5.9% | -13.4% | — |
| Net margin | 0.4% | -8.1% | -14.2% | 1.3% | -5.4% | -13.9% | — |
| Return on equity | 1.0% | -18.3% | -47.0% | 4.3% | -8.9% | -19.4% | — |
| Return on assets | 0.4% | -7.4% | -18.3% | 1.6% | -3.5% | -10.6% | — |
| Free cash flow yield | 3.3% | 1.3% | -1.7% | 17.9% | 1.0% | 1.7% | — |
| Revenue growth | 5.8% | -44.0% | -30.9% | 104.3% | 8.4% | 0.6% | — |
| Earnings growth | -105.5% | -68.0% | -831.3% | -151.0% | -57.9% | -613.6% | — |
| Current ratio | 1.42x | 1.17x | 0.75x | 1.03x | 1.30x | 1.58x | — |
| Debt to equity | — | 0.18x | 0.51x | 0.21x | 0.47x | 0.30x | 0.27x |
| Equity ratio | 43.2% | 40.3% | 38.9% | 37.0% | 39.7% | 54.8% | — |
| Interest coverage | 1.15x | -5.65x | -16.58x | 2.09x | -4.11x | -12.65x | — |
| R&D as a share of sales | 3.1% | 4.2% | 4.1% | 2.6% | 4.0% | 3.6% | — |
| Buybacks as a share of market value | 0.1% | 1.1% | -1.2% | 0.4% | 0.4% | -11.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.7% | -1.9% | -6.3% |
| Operating income | -13.3% | — | -20.5% |
| Net income | -49.4% | — | -32.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.4% | 8.7% | 10.6% | 10.2% |
| Operating margin | -2.6% | -4.1% | -5.6% | -10.7% |
| Net margin | -3.7% | -4.6% | -5.9% | -10.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -29.8 | -13.5 | 78.0 | -50.0 | -17.0 | 57.4 | -1.0 | -26.2 | 88.6 |
| Price to sales | 2.7 | 2.4 | 1.9 | 1.1 | 2.7 | 2.4 | 1.6 | 0.7 | 3.0 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jun 2017.
| FY2017 | FY2016 | FY2015 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.101 | 0.10 | 0.05 | 0.025 | 0.063 | 0.063 | 0.075 |
- 2-for-1 split · 14 May 2015
- 2-for-1 split · 25 Jun 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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