C 
14.53
-2.55%
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¥8.96bn
FY2016FY2025
Net income
−CN¥14.72bn
FY2016FY2025
Free cash flow
CN¥4.55bn
FY2016FY2025
Shareholders' equity
CN¥15.84bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.96bn | CN¥26.07bn | CN¥52.92bn | CN¥38.26bn | CN¥30.65bn | CN¥15.19bn | CN¥10.59bn | CN¥5.23bn | CN¥1.34bn | CN¥445.9m |
| Research and development | CN¥932.3m | CN¥986.3m | CN¥968.5m | CN¥854.2m | CN¥552.6m | CN¥299.7m | CN¥169.6m | CN¥142.9m | CN¥78.4m | CN¥58.9m |
| Operating income | −CN¥3.02bn | CN¥2.26bn | CN¥9.37bn | CN¥8.76bn | CN¥12.00bn | CN¥3.90bn | CN¥2.81bn | CN¥1.71bn | CN¥512.2m | CN¥29.0m |
| Net income | −CN¥14.72bn | CN¥2.02bn | CN¥8.07bn | CN¥7.54bn | CN¥10.21bn | CN¥3.30bn | CN¥2.37bn | CN¥1.45bn | CN¥432.3m | CN¥32.5m |
| Diluted earnings per share | -6.15 | 0.84 | 3.36 | 3.14 | 6.38 | 2.06 | 1.48 | 0.91 | 0.27 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥31.72bn | CN¥49.91bn | CN¥50.23bn | CN¥38.00bn | CN¥30.05bn | CN¥15.22bn | CN¥10.94bn | CN¥6.81bn | CN¥4.11bn | CN¥2.71bn |
| Cash and short-term investments | — | CN¥2.70bn | CN¥6.34bn | CN¥2.62bn | CN¥4.31bn | CN¥1.44bn | CN¥1.20bn | CN¥769.4m | CN¥874.1m | CN¥658.5m |
| Total liabilities | CN¥15.61bn | CN¥19.08bn | CN¥18.73bn | CN¥13.77bn | CN¥12.39bn | CN¥6.97bn | CN¥5.20bn | CN¥2.63bn | CN¥1.17bn | CN¥188.2m |
| Debt | — | CN¥12.36bn | CN¥3.04bn | CN¥2.05bn | CN¥847.5m | CN¥2.93bn | CN¥2.39bn | CN¥646.0m | CN¥310.0m | CN¥2.0m |
| Shareholders' equity | CN¥15.84bn | CN¥30.83bn | CN¥31.51bn | CN¥24.24bn | CN¥17.66bn | CN¥8.25bn | CN¥5.75bn | CN¥4.18bn | CN¥2.94bn | CN¥2.52bn |
| Shares outstanding | 2,394m | 2,395m | 2,400m | 2,400m | 1,600m | 1,600m | 1,600m | 1,600m | 1,600m | 1,599m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.17bn | −CN¥4.41bn | CN¥9.00bn | CN¥1.99bn | CN¥8.51bn | CN¥3.50bn | CN¥1.37bn | CN¥585.6m | CN¥203.6m | CN¥90.0m |
| Capital spending | −CN¥619.2m | −CN¥930.3m | −CN¥1.13bn | −CN¥1.45bn | −CN¥1.93bn | −CN¥827.0m | −CN¥572.9m | −CN¥479.8m | −CN¥230.8m | −CN¥308.0m |
| Free cash flow | CN¥4.55bn | −CN¥5.34bn | CN¥7.86bn | CN¥535.9m | CN¥6.58bn | CN¥2.67bn | CN¥794.1m | CN¥105.8m | −CN¥27.2m | −CN¥218.1m |
| Dividends paid | −CN¥344.8m | −CN¥2.53bn | −CN¥889.3m | −CN¥1.01bn | −CN¥862.0m | −CN¥800.0m | −CN¥800.0m | −CN¥234.1m | −CN¥23.5m | −CN¥80.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.87bn | CN¥2.15bn | CN¥1.31bn | CN¥2.71bn | CN¥2.54bn | CN¥2.37bn | CN¥3.28bn | CN¥4.53bn |
| Operating income | −CN¥661.9m | CN¥26.5m | −CN¥2.09bn | −CN¥648.3m | −CN¥417.0m | −CN¥245.6m | −CN¥211.8m | −CN¥61.7m |
| Net income | −CN¥420.2m | −CN¥388.3m | −CN¥13.40bn | −CN¥609.3m | −CN¥292.0m | −CN¥305.1m | −CN¥132.1m | −CN¥83.7m |
| Diluted earnings per share | -0.18 | -0.16 | -5.60 | -0.25 | -0.12 | -0.13 | -0.06 | -0.03 |
| Cash from operations | — | — | — | CN¥1.42bn | CN¥1.26bn | CN¥304.0m | −CN¥1.35bn | −CN¥2.76bn |
| Capital spending | −CN¥97.0m | −CN¥102.0m | −CN¥156.0m | −CN¥202.0m | −CN¥110.0m | −CN¥149.0m | −CN¥229.0m | −CN¥272.0m |
| Free cash flow | — | — | — | CN¥1.22bn | CN¥1.15bn | CN¥155.0m | −CN¥1.58bn | −CN¥3.03bn |
| Total assets | CN¥27.82bn | CN¥29.09bn | CN¥31.72bn | CN¥46.39bn | CN¥45.94bn | CN¥48.34bn | CN¥49.91bn | CN¥53.71bn |
| Cash and short-term investments | — | — | — | CN¥2.50bn | CN¥2.57bn | CN¥3.07bn | CN¥2.70bn | CN¥3.26bn |
| Debt | CN¥7.19bn | CN¥7.86bn | CN¥2.91bn | CN¥10.49bn | CN¥14.24bn | CN¥14.95bn | CN¥12.25bn | CN¥8.98bn |
| Shareholders' equity | CN¥15.03bn | CN¥15.45bn | CN¥15.84bn | CN¥29.33bn | CN¥30.23bn | CN¥30.53bn | CN¥30.83bn | CN¥31.44bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -33.7% | 8.7% | 17.7% | 22.9% | 39.1% | 25.6% |
| Net margin | -164.3% | 7.7% | 15.2% | 19.7% | 33.3% | 21.7% |
| Return on equity | -93.0% | 6.5% | 25.6% | 31.1% | 57.8% | 40.0% |
| Return on assets | -46.4% | 4.0% | 16.1% | 19.8% | 34.0% | 21.7% |
| Free cash flow yield | 19.0% | -11.4% | 33.1% | 11.2% | 51.2% | 21.2% |
| Revenue growth | -65.6% | -50.7% | 38.3% | 24.8% | 101.8% | 43.5% |
| Earnings growth | -829.4% | -75.0% | 7.0% | -26.2% | 209.2% | 39.5% |
| Current ratio | 1.53x | 2.24x | 2.35x | 2.37x | 2.09x | 1.69x |
| Debt to equity | 0.18x | 0.40x | 0.09x | 0.08x | 0.05x | 0.35x |
| Equity ratio | 49.9% | 61.8% | 62.7% | 63.8% | 58.8% | 54.2% |
| Interest coverage | -9.13x | 12.74x | 79.82x | 116.32x | 163.96x | 26.60x |
| R&D as a share of sales | 10.4% | 3.8% | 1.8% | 2.2% | 1.8% | 2.0% |
| Buybacks as a share of market value | 0.1% | 0.2% | 0.0% | -50.0% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -38.4% | -10.0% | 28.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2.2% | 13.8% | 19.3% | 20.3% |
| Net margin | -36.3% | 2.3% | 9.5% | 11.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.1 | 31.2 | 18.2 | 18.2 | 12.7 | 46.5 | 21.8 | 27.8 | 67.5 | — |
| Price to sales | 5.0 | 2.4 | 2.8 | 3.6 | 4.2 | 10.1 | 4.9 | 7.7 | 21.7 | 38.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Dec 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 0.50 | 0.39 | 0.325 | 0.325 | 0.325 | 0.084 | 0.006 |
- 7-for-5 split · 16 Jun 2023
- 2-for-1 split · 13 May 2016
- 2-for-1 split · 28 May 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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