J 
3.33
-2.06%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.37bn
FY2016FY2025
Net income
−CN¥98.5m
FY2016FY2025
Free cash flow
−CN¥271.8m
FY2016FY2025
Shareholders' equity
CN¥857.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.37bn | CN¥1.97bn | CN¥2.15bn | CN¥2.47bn | CN¥2.28bn | CN¥2.02bn | CN¥2.43bn | CN¥2.05bn | CN¥1.75bn | CN¥1.38bn |
| Gross profit | CN¥20.6m | CN¥71.2m | CN¥90.0m | CN¥242.5m | CN¥177.3m | CN¥195.9m | CN¥304.5m | CN¥301.6m | CN¥221.7m | CN¥192.3m |
| Research and development | CN¥9.2m | CN¥19.1m | CN¥34.7m | CN¥58.4m | CN¥53.0m | CN¥53.1m | CN¥83.5m | CN¥66.8m | CN¥46.2m | CN¥51.0m |
| Operating income | −CN¥82.0m | CN¥18.4m | −CN¥15.1m | −CN¥142.5m | −CN¥35.8m | CN¥2.5m | CN¥56.6m | CN¥63.7m | CN¥102.4m | CN¥63.6m |
| Net income | −CN¥98.5m | CN¥22.3m | −CN¥44.7m | −CN¥171.8m | −CN¥73.5m | CN¥3.9m | CN¥39.5m | CN¥41.5m | CN¥37.5m | CN¥27.2m |
| Diluted earnings per share | -0.11 | 0.02 | -0.05 | -0.19 | -0.08 | 0.00 | 0.04 | 0.05 | -4.39 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.55bn | CN¥1.71bn | CN¥2.29bn | CN¥2.36bn | CN¥2.42bn | CN¥2.62bn | CN¥2.90bn | CN¥2.96bn | CN¥3.07bn | CN¥2.90bn |
| Cash and short-term investments | — | CN¥207.1m | CN¥265.7m | CN¥756.8m | CN¥680.9m | CN¥765.3m | CN¥902.4m | CN¥644.5m | CN¥532.7m | CN¥609.2m |
| Total liabilities | CN¥693.7m | CN¥774.8m | CN¥1.36bn | CN¥1.38bn | CN¥1.26bn | CN¥1.37bn | CN¥1.64bn | CN¥1.72bn | CN¥1.86bn | CN¥1.71bn |
| Debt | — | CN¥608.6m | CN¥948.7m | CN¥1.03bn | CN¥932.0m | CN¥1.02bn | CN¥1.30bn | CN¥1.36bn | CN¥1.35bn | CN¥1.20bn |
| Shareholders' equity | CN¥857.0m | CN¥964.7m | CN¥954.0m | CN¥998.6m | CN¥1.17bn | CN¥1.25bn | CN¥1.26bn | CN¥1.23bn | CN¥1.20bn | CN¥1.18bn |
| Shares outstanding | 902m | 964m | 837m | 920m | 905m | 1,173m | 907m | 920m | — | 854m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥264.9m | CN¥202.6m | −CN¥87.3m | CN¥208.4m | CN¥88.1m | CN¥64.5m | CN¥160.4m | CN¥196.2m | CN¥364.7m | CN¥192.8m |
| Capital spending | −CN¥6.9m | −CN¥11.7m | −CN¥38.2m | −CN¥30.1m | −CN¥15.2m | −CN¥29.2m | −CN¥67.9m | −CN¥38.3m | −CN¥305.3m | −CN¥25.8m |
| Free cash flow | −CN¥271.8m | CN¥190.8m | −CN¥125.6m | CN¥178.4m | CN¥72.9m | CN¥35.3m | CN¥92.5m | CN¥157.9m | CN¥59.4m | CN¥167.0m |
| Dividends paid | −CN¥24.4m | −CN¥27.1m | −CN¥40.8m | −CN¥40.2m | −CN¥9.2m | −CN¥9.2m | −CN¥9.2m | −CN¥88.1m | −CN¥75.0m | −CN¥47.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥163.9m | CN¥349.5m | CN¥300.8m | CN¥547.2m | CN¥289.6m | CN¥229.8m | CN¥291.9m | CN¥533.3m |
| Gross profit | CN¥29.5m | CN¥3.1m | CN¥2.0m | CN¥13.9m | CN¥525,409 | CN¥4.2m | CN¥26.6m | CN¥11.6m |
| Operating income | CN¥16.1m | −CN¥9.6m | −CN¥24.4m | −CN¥3.5m | −CN¥7.9m | CN¥12.5m | CN¥16.0m | −CN¥8.3m |
| Net income | CN¥4.2m | CN¥8.8m | −CN¥88.3m | −CN¥3.2m | −CN¥10.1m | CN¥3.2m | CN¥15.3m | −CN¥2.8m |
| Diluted earnings per share | 0.00 | 0.01 | -0.10 | -0.00 | -0.01 | 0.00 | 0.02 | -0.00 |
| Cash from operations | — | — | — | −CN¥18.0m | −CN¥137.0m | −CN¥24.0m | — | CN¥31.0m |
| Capital spending | — | — | −CN¥1.0m | −CN¥1.0m | −CN¥2.0m | −CN¥2.0m | −CN¥7.0m | −CN¥1.0m |
| Free cash flow | — | — | — | −CN¥19.0m | −CN¥139.0m | −CN¥26.0m | — | CN¥30.0m |
| Total assets | CN¥1.67bn | CN¥1.45bn | CN¥1.55bn | CN¥1.61bn | CN¥1.68bn | CN¥1.70bn | CN¥1.71bn | CN¥1.95bn |
| Cash and short-term investments | — | — | — | CN¥150.9m | CN¥195.8m | CN¥219.3m | CN¥207.1m | CN¥369.6m |
| Debt | — | — | — | CN¥565.3m | CN¥554.8m | CN¥587.9m | CN¥608.6m | CN¥740.7m |
| Shareholders' equity | CN¥869.9m | CN¥865.8m | CN¥857.0m | CN¥945.3m | CN¥948.6m | CN¥967.9m | CN¥964.7m | CN¥945.2m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 1.5% | 3.6% | 4.2% | 9.8% | 7.8% | 9.7% | — |
| Operating margin | -5.4% | 2.3% | -0.2% | -5.8% | -1.4% | 3.1% | — |
| Net margin | -7.2% | 1.1% | -2.1% | -7.0% | -3.2% | 0.2% | — |
| Return on equity | -11.5% | 2.3% | -4.7% | -17.2% | -6.3% | 0.3% | — |
| Return on assets | -6.4% | 1.3% | -1.9% | -7.3% | -3.0% | 0.2% | — |
| Free cash flow yield | — | 6.3% | — | — | — | — | — |
| Revenue growth | -30.6% | -8.2% | -13.1% | 8.2% | 13.1% | -16.9% | — |
| Earnings growth | -541.5% | -149.9% | -74.0% | 133.7% | -1961.8% | -90.0% | — |
| Current ratio | 1.75x | 1.18x | 1.03x | 1.21x | 1.40x | 1.47x | — |
| Debt to equity | — | 0.63x | 0.98x | 0.97x | 0.74x | 0.77x | 1.09x |
| Equity ratio | 55.3% | 56.3% | 41.6% | 42.3% | 48.3% | 47.8% | — |
| Interest coverage | -6.18x | 1.60x | -0.08x | -2.96x | -0.60x | 0.92x | — |
| R&D as a share of sales | 0.7% | 1.0% | 1.6% | 2.4% | 2.3% | 2.6% | — |
| Buybacks as a share of market value | 6.4% | -15.2% | 9.0% | -1.6% | 22.9% | -29.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.9% | -7.5% | -2.5% |
| Operating income | -16.8% | — | — |
| Net income | -16.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.8% | 5.3% | 6.5% | 9.2% |
| Operating margin | -1.9% | -2.8% | -2.1% | 0.3% |
| Net margin | -2.3% | -3.7% | -3.0% | -0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -36.1 | 171.2 | -60.9 | -14.7 | -35.0 | — | 60.8 | 59.0 | -0.8 | 187.1 |
| Price to sales | 2.6 | 1.9 | 1.3 | 1.0 | 1.1 | 1.5 | 1.0 | 1.2 | -0.0 | 3.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 23 Jun 2025.
| FY2025 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.033 | 0.028 |
- 8-for-5 split · 22 May 2013
- 2-for-1 split · 15 May 2012
- 2-for-1 split · 23 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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