L 
7.02
-1.82%
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¥388.3m
FY2016FY2025
Net income
−CN¥131.2m
FY2016FY2025
Free cash flow
−CN¥166.5m
FY2016FY2025
Shareholders' equity
CN¥117.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥388.3m | CN¥500.6m | CN¥225.7m | CN¥177.5m | CN¥184.3m | CN¥221.7m | CN¥288.3m | CN¥234.8m | CN¥325.7m | CN¥311.6m |
| Research and development | CN¥16.4m | CN¥30.7m | CN¥21.1m | CN¥19.8m | CN¥21.8m | CN¥25.9m | CN¥27.0m | CN¥27.4m | CN¥26.2m | CN¥26.3m |
| Operating income | −CN¥312.9m | −CN¥285.7m | −CN¥65.0m | −CN¥31.5m | −CN¥26.7m | −CN¥46.5m | −CN¥228.3m | −CN¥343.1m | CN¥56.8m | CN¥51.5m |
| Net income | −CN¥131.2m | −CN¥110.3m | −CN¥39.7m | −CN¥32.2m | −CN¥24.6m | −CN¥68.8m | −CN¥257.3m | −CN¥345.9m | CN¥67.3m | CN¥56.9m |
| Diluted earnings per share | -0.37 | -0.30 | -0.14 | -0.08 | -0.07 | -0.20 | -0.68 | -0.94 | 0.17 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.52bn | CN¥3.30bn | CN¥3.46bn | CN¥584.8m | CN¥649.1m | CN¥699.9m | CN¥808.5m | CN¥1.08bn | CN¥1.52bn | CN¥1.43bn |
| Cash and short-term investments | — | CN¥249.9m | CN¥563.0m | CN¥39.9m | CN¥70.1m | CN¥107.9m | CN¥132.4m | CN¥146.1m | CN¥244.4m | CN¥133.3m |
| Total liabilities | CN¥2.04bn | CN¥2.46bn | CN¥2.40bn | CN¥404.6m | CN¥432.5m | CN¥459.5m | CN¥495.7m | CN¥497.0m | CN¥475.4m | CN¥428.9m |
| Debt | CN¥646.8m | CN¥1.02bn | CN¥911.2m | CN¥289.9m | CN¥315.0m | CN¥347.6m | CN¥369.5m | CN¥366.6m | CN¥334.4m | CN¥209.4m |
| Shareholders' equity | CN¥117.6m | CN¥241.8m | CN¥326.1m | CN¥191.3m | CN¥225.1m | CN¥244.8m | CN¥313.1m | CN¥591.5m | CN¥978.9m | CN¥918.2m |
| Shares outstanding | 355m | 367m | 282m | 398m | 346m | 348m | 381m | 369m | 385m | 348m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.2m | CN¥108.7m | −CN¥76.6m | CN¥37.4m | CN¥13.8m | CN¥19.4m | CN¥52.4m | CN¥38.3m | CN¥62.3m | CN¥85.6m |
| Capital spending | −CN¥171.7m | −CN¥648.2m | −CN¥719.7m | −CN¥8.1m | −CN¥27.4m | −CN¥25.8m | −CN¥21.8m | −CN¥62.8m | −CN¥39.0m | −CN¥87.7m |
| Free cash flow | −CN¥166.5m | −CN¥539.4m | −CN¥796.3m | CN¥29.3m | −CN¥13.5m | −CN¥6.4m | CN¥30.6m | −CN¥24.4m | CN¥23.3m | −CN¥2.1m |
| Dividends paid | −CN¥48.4m | −CN¥42.0m | −CN¥17.9m | −CN¥19.4m | −CN¥21.4m | −CN¥23.6m | −CN¥25.0m | −CN¥19.5m | −CN¥12.8m | −CN¥14.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥45.9m | CN¥50.7m | CN¥93.7m | CN¥85.2m | CN¥109.7m | CN¥99.7m | CN¥189.4m | CN¥142.9m |
| Operating income | −CN¥37.4m | −CN¥47.7m | −CN¥53.0m | −CN¥80.1m | −CN¥69.3m | −CN¥65.9m | −CN¥78.1m | −CN¥76.2m |
| Net income | −CN¥23.3m | −CN¥20.8m | −CN¥40.4m | −CN¥40.0m | −CN¥26.9m | −CN¥23.3m | −CN¥44.1m | −CN¥23.8m |
| Diluted earnings per share | -0.07 | -0.06 | -0.11 | -0.11 | -0.08 | -0.07 | -0.12 | -0.06 |
| Cash from operations | — | — | — | −CN¥2.0m | CN¥30.0m | −CN¥58.0m | — | −CN¥15.0m |
| Capital spending | −CN¥116.0m | −CN¥12.0m | −CN¥11.0m | −CN¥16.0m | −CN¥30.0m | −CN¥113.0m | −CN¥15.0m | −CN¥19.0m |
| Free cash flow | — | — | — | −CN¥18.0m | CN¥0 | −CN¥171.0m | — | −CN¥34.0m |
| Total assets | CN¥2.53bn | CN¥2.53bn | CN¥2.52bn | CN¥2.62bn | CN¥3.03bn | CN¥3.15bn | CN¥3.30bn | CN¥3.23bn |
| Cash and short-term investments | — | — | — | CN¥47.5m | CN¥87.3m | CN¥145.6m | CN¥249.9m | CN¥94.7m |
| Debt | CN¥641.3m | CN¥640.3m | CN¥646.8m | CN¥165.2m | CN¥595.0m | CN¥670.3m | CN¥567.1m | CN¥485.6m |
| Shareholders' equity | CN¥104.7m | CN¥95.5m | CN¥117.6m | CN¥162.0m | CN¥193.8m | CN¥219.6m | CN¥241.8m | CN¥260.6m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -80.7% | -56.7% | -15.6% | -5.7% | -2.4% | -21.0% |
| Net margin | -33.8% | -22.0% | -17.6% | -18.2% | -13.4% | -31.0% |
| Return on equity | -111.6% | -45.6% | -12.2% | -16.8% | -10.9% | -28.1% |
| Return on assets | -5.2% | -3.3% | -1.2% | -5.5% | -3.8% | -9.8% |
| Free cash flow yield | — | 4.2% | -3.8% | — | — | — |
| Revenue growth | -22.4% | 121.8% | 27.2% | -3.7% | -16.9% | -23.1% |
| Earnings growth | 18.9% | 177.7% | 23.4% | 30.7% | -64.2% | -73.3% |
| Current ratio | 0.40x | 0.41x | 0.53x | 0.52x | 0.76x | 0.73x |
| Debt to equity | 5.50x | 2.34x | 1.51x | 1.52x | 1.39x | 1.15x |
| Equity ratio | 4.7% | 7.3% | 9.4% | 32.7% | 34.7% | 35.0% |
| Interest coverage | -6.20x | -4.89x | -1.26x | -0.49x | -0.20x | -1.90x |
| R&D as a share of sales | 4.2% | 6.1% | 9.3% | 11.2% | 11.8% | 11.7% |
| Buybacks as a share of market value | 3.4% | -30.3% | 29.2% | -15.1% | 0.6% | 8.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 29.8% | 11.9% | 4.5% |
| Operating income | 114.9% | 46.4% | 13.1% |
| Net income | 59.7% | 13.8% | 5.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -67.3% | -53.8% | -45.2% | -42.6% |
| Net margin | -27.2% | -24.3% | -24.0% | -31.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -17.4 | -22.3 | -80.3 | -112.5 | -63.0 | -26.6 | -9.2 | -6.3 | 54.6 | 89.6 |
| Price to sales | 5.9 | 4.9 | 14.1 | 20.4 | 8.4 | 8.2 | 8.2 | 9.3 | 11.3 | 16.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Jun 2015.
| FY2015 | FY2014 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.05 | 0.04 | 0.10 | 0.10 |
- 2-for-1 split · 26 Jun 2013
- 2-for-1 split · 11 May 2011
- 3-for-2 split · 21 Sept 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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