D 
7.95
+1.40%
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¥173.9m
FY2016FY2025
Net income
−CN¥275.2m
FY2016FY2025
Free cash flow
CN¥17.0m
FY2016FY2025
Shareholders' equity
CN¥214.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥173.9m | CN¥384.1m | CN¥476.5m | CN¥390.5m | CN¥709.7m | CN¥1.19bn | CN¥303.1m | CN¥975.9m | CN¥913.0m | CN¥602.0m |
| Gross profit | CN¥26.8m | CN¥80.7m | CN¥145.6m | CN¥58.0m | CN¥176.4m | CN¥280.0m | −CN¥131.2m | CN¥356.4m | CN¥422.4m | CN¥201.5m |
| Research and development | CN¥38.7m | CN¥47.0m | CN¥65.9m | CN¥87.7m | CN¥105.3m | CN¥62.4m | CN¥59.4m | CN¥40.8m | CN¥40.3m | CN¥40.2m |
| Operating income | −CN¥75.9m | −CN¥93.8m | CN¥126.2m | −CN¥350.9m | −CN¥645.7m | CN¥47.2m | −CN¥710.1m | CN¥154.8m | CN¥211.2m | CN¥93.3m |
| Net income | −CN¥275.2m | −CN¥129.4m | CN¥140.0m | −CN¥309.4m | −CN¥654.3m | CN¥36.2m | −CN¥696.2m | CN¥122.6m | CN¥170.3m | CN¥93.0m |
| Diluted earnings per share | -0.93 | -0.46 | 0.51 | -1.06 | -2.28 | 0.15 | -2.96 | 0.45 | 0.63 | 0.34 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥635.6m | CN¥888.6m | CN¥1.11bn | CN¥1.41bn | CN¥1.88bn | CN¥2.35bn | CN¥1.85bn | CN¥2.62bn | CN¥2.56bn | CN¥2.07bn |
| Cash and short-term investments | — | CN¥39.7m | CN¥31.0m | CN¥54.1m | CN¥82.0m | CN¥90.7m | CN¥63.4m | CN¥175.8m | CN¥114.5m | CN¥134.0m |
| Total liabilities | CN¥420.8m | CN¥397.1m | CN¥483.5m | CN¥898.4m | CN¥1.10bn | CN¥966.0m | CN¥628.8m | CN¥659.2m | CN¥579.2m | CN¥724.1m |
| Debt | — | CN¥79.2m | CN¥89.0m | CN¥256.7m | CN¥162.3m | CN¥211.5m | CN¥169.9m | CN¥249.0m | CN¥168.6m | CN¥268.3m |
| Shareholders' equity | CN¥214.8m | CN¥491.5m | CN¥625.7m | CN¥501.9m | CN¥760.7m | CN¥1.36bn | CN¥1.23bn | CN¥1.97bn | CN¥1.98bn | CN¥1.34bn |
| Shares outstanding | 295m | 284m | 277m | 291m | 287m | 249m | 235m | 275m | 272m | 270m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥19.5m | CN¥21.1m | −CN¥23.8m | CN¥25.0m | −CN¥76.3m | CN¥190.9m | CN¥13.6m | CN¥46.9m | −CN¥48.2m | −CN¥141.5m |
| Capital spending | −CN¥2.5m | −CN¥19.0m | −CN¥36.4m | −CN¥54.2m | −CN¥29.4m | −CN¥29.3m | −CN¥112.6m | −CN¥124.9m | −CN¥30.2m | −CN¥61.1m |
| Free cash flow | CN¥17.0m | CN¥2.1m | −CN¥60.2m | −CN¥29.2m | −CN¥105.7m | CN¥161.6m | −CN¥99.0m | −CN¥78.0m | −CN¥78.4m | −CN¥202.6m |
| Dividends paid | −CN¥3.4m | −CN¥4.1m | −CN¥7.3m | −CN¥13.3m | −CN¥15.0m | −CN¥9.2m | −CN¥15.7m | −CN¥26.0m | −CN¥15.4m | −CN¥10.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥54.2m | CN¥14.3m | CN¥41.8m | CN¥42.9m | CN¥61.9m | CN¥27.3m | CN¥26.5m | CN¥112.8m |
| Gross profit | CN¥16.9m | CN¥1.3m | CN¥9.2m | CN¥5.8m | CN¥16.5m | −CN¥4.6m | −CN¥66.7m | CN¥44.5m |
| Operating income | −CN¥6.2m | −CN¥18.7m | −CN¥27.3m | −CN¥4.3m | −CN¥79.2m | −CN¥28.7m | −CN¥117.6m | CN¥4.0m |
| Net income | −CN¥11.7m | −CN¥16.8m | −CN¥163.6m | −CN¥6.0m | −CN¥77.7m | −CN¥27.9m | −CN¥142.1m | CN¥2.5m |
| Diluted earnings per share | -0.04 | -0.06 | -0.56 | -0.02 | -0.26 | -0.09 | -0.50 | 0.01 |
| Cash from operations | — | — | — | CN¥10.0m | — | −CN¥3.0m | — | CN¥38.0m |
| Capital spending | — | — | −CN¥2.0m | −CN¥10.0m | — | −CN¥3.0m | −CN¥2.0m | −CN¥3.0m |
| Free cash flow | — | — | — | CN¥0 | — | −CN¥6.0m | — | CN¥35.0m |
| Total assets | CN¥623.2m | CN¥630.6m | CN¥635.6m | CN¥745.6m | CN¥753.5m | CN¥864.1m | CN¥888.6m | CN¥1.02bn |
| Cash and short-term investments | — | — | — | CN¥24.9m | CN¥19.2m | CN¥33.7m | CN¥39.7m | CN¥70.3m |
| Debt | — | — | — | CN¥68.8m | CN¥70.0m | CN¥74.2m | CN¥78.2m | CN¥79.0m |
| Shareholders' equity | CN¥186.3m | CN¥198.0m | CN¥214.8m | CN¥379.9m | CN¥385.9m | CN¥463.6m | CN¥491.5m | CN¥638.5m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 15.4% | 21.0% | 30.6% | 14.9% | 24.9% | 23.6% | — |
| Operating margin | -139.3% | -25.4% | 28.7% | -89.9% | -91.0% | 5.1% | — |
| Net margin | -158.3% | -33.7% | 29.4% | -79.2% | -92.2% | 3.1% | — |
| Return on equity | -128.1% | -26.3% | 22.4% | -61.6% | -86.0% | 2.7% | — |
| Return on assets | -43.3% | -14.6% | 12.6% | -21.9% | -34.7% | 1.5% | — |
| Free cash flow yield | 0.9% | 1.8% | 0.6% | 3.4% | -2.1% | 11.2% | — |
| Revenue growth | -54.7% | -19.4% | 22.0% | -45.0% | -40.2% | 291.7% | — |
| Earnings growth | 112.8% | -192.4% | -145.2% | -52.7% | -1905.5% | -105.2% | — |
| Current ratio | 1.03x | 1.56x | 1.60x | 1.04x | 1.26x | 1.29x | — |
| Debt to equity | — | 0.16x | 0.14x | 0.51x | 0.19x | 0.16x | 0.14x |
| Equity ratio | 33.8% | 55.3% | 56.4% | 35.5% | 40.4% | 57.8% | — |
| Interest coverage | -155.52x | -26.29x | 10.82x | -21.25x | -26.84x | 3.63x | — |
| R&D as a share of sales | 22.2% | 12.2% | 13.8% | 22.5% | 14.8% | 5.3% | — |
| Buybacks as a share of market value | -3.8% | -2.6% | 4.9% | -1.3% | -15.3% | -6.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -23.6% | -31.9% | -8.5% |
| Operating income | -40.0% | — | — |
| Net income | -3.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.3% | 21.8% | 23.1% | 26.8% |
| Operating margin | -30.4% | -27.7% | -29.9% | -18.1% |
| Net margin | -72.5% | -40.3% | -35.9% | -22.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.8 | -11.7 | 18.2 | -5.0 | -3.7 | 71.3 | -3.2 | 25.1 | 45.4 | 88.4 |
| Price to sales | 12.3 | 4.0 | 5.3 | 3.9 | 3.4 | 2.2 | 7.4 | 3.1 | 8.5 | 13.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jul 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.028 | 0.022 | 0.017 | 0.014 | 0.002 | 0.014 | 0.014 |
- 9-for-5 split · 17 May 2017
- 2-for-1 split · 22 Aug 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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