N 
28.97
-0.17%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.24bn
FY2016FY2025
Net income
CN¥27.1m
FY2016FY2025
Free cash flow
−CN¥300.7m
FY2016FY2025
Shareholders' equity
CN¥1.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.24bn | CN¥829.5m | CN¥1.09bn | CN¥1.77bn | CN¥1.91bn | CN¥1.49bn | CN¥1.19bn | CN¥966.9m | CN¥928.8m | CN¥590.9m |
| Gross profit | CN¥173.1m | CN¥47.7m | CN¥97.8m | CN¥174.5m | CN¥179.7m | CN¥189.2m | CN¥146.0m | CN¥116.7m | CN¥104.7m | CN¥84.2m |
| Research and development | CN¥46.7m | CN¥24.9m | CN¥17.9m | CN¥45.3m | CN¥35.5m | CN¥31.1m | CN¥27.0m | CN¥21.5m | CN¥21.0m | CN¥16.5m |
| Operating income | CN¥12.0m | −CN¥107.3m | −CN¥46.3m | CN¥67.9m | CN¥74.5m | CN¥84.0m | CN¥88.5m | CN¥76.9m | CN¥65.6m | CN¥48.3m |
| Net income | CN¥27.1m | −CN¥99.2m | −CN¥43.8m | CN¥62.1m | CN¥68.9m | CN¥70.7m | CN¥71.9m | CN¥64.5m | CN¥56.2m | CN¥44.4m |
| Diluted earnings per share | 0.14 | -0.50 | -0.22 | 0.31 | 0.34 | 0.35 | 0.36 | 0.32 | 0.28 | 0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.34bn | CN¥1.20bn | CN¥1.37bn | CN¥1.35bn | CN¥1.26bn | CN¥1.18bn | CN¥1.09bn | CN¥998.8m | CN¥951.7m | CN¥924.5m |
| Cash and short-term investments | — | CN¥612.3m | CN¥630.9m | CN¥724.4m | CN¥624.6m | CN¥562.3m | CN¥539.1m | CN¥179.3m | CN¥178.2m | CN¥322.8m |
| Total liabilities | CN¥297.0m | CN¥173.0m | CN¥246.5m | CN¥173.7m | CN¥138.6m | CN¥115.6m | CN¥81.0m | CN¥43.8m | CN¥43.1m | CN¥46.4m |
| Debt | CN¥33.0m | CN¥83.9m | CN¥60.1m | CN¥16.4m | CN¥5.8m | CN¥6.3m | — | — | — | — |
| Shareholders' equity | CN¥1.06bn | CN¥1.03bn | CN¥1.13bn | CN¥1.18bn | CN¥1.12bn | CN¥1.06bn | CN¥1.00bn | CN¥955.0m | CN¥908.6m | CN¥878.1m |
| Shares outstanding | 201m | 200m | 200m | 200m | 200m | 200m | 201m | 200m | 200m | 201m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥291.6m | −CN¥22.9m | −CN¥85.4m | CN¥136.1m | CN¥63.0m | CN¥19.1m | −CN¥107.8m | CN¥60.7m | CN¥24.2m | CN¥21.2m |
| Capital spending | −CN¥9.1m | −CN¥22.4m | −CN¥27.6m | −CN¥8.8m | −CN¥4.9m | −CN¥2.9m | −CN¥6.8m | −CN¥2.0m | −CN¥5.2m | −CN¥1.8m |
| Free cash flow | −CN¥300.7m | −CN¥45.4m | −CN¥113.0m | CN¥127.3m | CN¥58.0m | CN¥16.2m | −CN¥114.6m | CN¥58.7m | CN¥18.9m | CN¥19.4m |
| Dividends paid | −CN¥2.6m | −CN¥3.8m | −CN¥10.0m | −CN¥10.0m | −CN¥10.0m | −CN¥4.0m | −CN¥26.7m | −CN¥21.4m | −CN¥21.4m | −CN¥13.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥480.1m | CN¥486.1m | CN¥445.0m | CN¥315.9m | CN¥245.0m | CN¥233.9m | CN¥241.6m | CN¥172.9m |
| Gross profit | CN¥70.4m | CN¥122.7m | CN¥110.3m | CN¥17.9m | CN¥32.5m | CN¥12.4m | −CN¥10.2m | CN¥26.0m |
| Operating income | CN¥29.9m | CN¥88.4m | CN¥54.3m | −CN¥10.5m | −CN¥4.8m | −CN¥11.4m | −CN¥31.6m | −CN¥40.0m |
| Net income | CN¥13.2m | CN¥81.9m | CN¥55.6m | −CN¥10.6m | −CN¥5.2m | −CN¥12.7m | −CN¥31.0m | −CN¥37.9m |
| Diluted earnings per share | 0.07 | 0.41 | 0.28 | -0.05 | -0.03 | -0.06 | -0.16 | -0.19 |
| Cash from operations | — | — | — | −CN¥123.0m | −CN¥20.0m | −CN¥6.0m | −CN¥1.0m | CN¥56.0m |
| Capital spending | −CN¥3.0m | −CN¥1.0m | −CN¥1.0m | −CN¥1.0m | — | −CN¥5.0m | −CN¥3.0m | −CN¥4.0m |
| Free cash flow | — | — | — | −CN¥124.0m | — | −CN¥11.0m | −CN¥4.0m | CN¥52.0m |
| Total assets | CN¥1.67bn | CN¥1.71bn | CN¥1.34bn | CN¥1.28bn | CN¥1.19bn | CN¥1.17bn | CN¥1.20bn | CN¥1.24bn |
| Cash and short-term investments | — | — | — | CN¥540.4m | CN¥596.0m | CN¥572.8m | CN¥612.3m | CN¥619.1m |
| Debt | CN¥131.4m | CN¥132.4m | CN¥33.0m | CN¥118.8m | CN¥94.3m | CN¥49.0m | CN¥77.7m | CN¥78.4m |
| Shareholders' equity | CN¥1.13bn | CN¥1.14bn | CN¥1.06bn | CN¥1.00bn | CN¥1.01bn | CN¥1.02bn | CN¥1.03bn | CN¥1.06bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 14.0% | 5.7% | 9.0% | 9.8% | 9.4% | 12.7% | — | — | — |
| Operating margin | 1.0% | -12.9% | -4.3% | 3.8% | 3.9% | 5.6% | — | — | — |
| Net margin | 2.2% | -12.0% | -4.0% | 3.5% | 3.6% | 4.7% | — | — | — |
| Return on equity | 2.6% | -9.6% | -3.9% | 5.3% | 6.2% | 6.6% | — | — | — |
| Return on assets | 2.0% | -8.3% | -3.2% | 4.6% | 5.5% | 6.0% | — | — | — |
| Free cash flow yield | -4.0% | -0.0% | -0.8% | 2.0% | 1.0% | 0.3% | — | — | — |
| Revenue growth | 49.5% | -23.7% | -38.6% | -7.4% | 28.3% | 24.9% | — | — | — |
| Earnings growth | -127.4% | 126.8% | -170.4% | -9.8% | -2.6% | -1.7% | — | — | — |
| Current ratio | 4.15x | 7.83x | 4.73x | 6.75x | 7.58x | 8.26x | — | — | — |
| Debt to equity | 0.03x | 0.08x | 0.04x | — | — | — | 0.00x | 0.00x | 0.05x |
| Equity ratio | 78.6% | 86.3% | 82.2% | 87.2% | 89.0% | 90.2% | — | — | — |
| Interest coverage | 3.75x | -21.19x | -32.36x | 96.19x | 66.01x | 196.88x | — | — | — |
| R&D as a share of sales | 3.8% | 3.0% | 1.6% | 2.6% | 1.9% | 2.1% | — | — | — |
| Buybacks as a share of market value | -0.1% | -0.0% | -0.0% | 0.0% | 0.1% | 0.1% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.2% | -3.6% | 11.9% |
| Operating income | -43.9% | -32.3% | -7.2% |
| Net income | -24.1% | -17.4% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.7% | 10.0% | 10.3% | 11.0% |
| Operating margin | -4.6% | -1.5% | 1.0% | 3.1% |
| Net margin | -3.5% | -1.1% | 1.0% | 2.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 189.8 | -46.6 | -160.1 | 39.1 | 44.7 | 39.8 | 44.4 | 26.9 | 75.9 | 94.9 |
| Price to sales | 4.2 | 5.6 | 6.4 | 1.4 | 1.6 | 1.9 | 2.7 | 1.8 | 4.6 | 7.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.05 | 0.02 | 0.133 | 0.107 | 0.107 | 0.067 |
- 3-for-2 split · 22 Apr 2019
- 2-for-1 split · 4 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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