L 
6.27
-0.63%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.06bn
FY2016FY2025
Net income
−CN¥42.1m
FY2016FY2025
Free cash flow
−CN¥20.3m
FY2016FY2025
Shareholders' equity
CN¥841.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.06bn | CN¥1.25bn | CN¥1.11bn | CN¥1.08bn | CN¥1.30bn | CN¥818.8m | CN¥966.9m | CN¥733.5m | CN¥644.5m | CN¥562.5m |
| Gross profit | CN¥255.0m | CN¥265.0m | CN¥217.0m | CN¥267.0m | CN¥303.3m | CN¥122.4m | CN¥252.1m | CN¥165.3m | CN¥189.8m | CN¥194.6m |
| Research and development | CN¥62.8m | CN¥71.6m | CN¥64.2m | CN¥62.2m | CN¥63.3m | CN¥58.6m | CN¥44.4m | CN¥39.7m | CN¥34.6m | CN¥34.1m |
| Operating income | CN¥3.3m | −CN¥91.3m | −CN¥63.8m | CN¥37.5m | CN¥51.6m | −CN¥330.7m | CN¥46.7m | −CN¥36.2m | CN¥26.2m | CN¥30.2m |
| Net income | −CN¥42.1m | −CN¥91.9m | −CN¥76.5m | CN¥31.6m | CN¥47.5m | −CN¥315.5m | CN¥40.4m | −CN¥36.5m | CN¥20.3m | CN¥30.8m |
| Diluted earnings per share | -0.10 | -0.21 | -0.22 | 0.09 | 0.15 | -0.87 | 0.14 | -0.09 | 0.07 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.59bn | CN¥1.73bn | CN¥1.84bn | CN¥1.41bn | CN¥1.51bn | CN¥1.16bn | CN¥1.40bn | CN¥1.36bn | CN¥1.36bn | CN¥1.50bn |
| Cash and short-term investments | — | CN¥691.4m | CN¥719.6m | CN¥269.3m | CN¥285.7m | CN¥282.7m | CN¥273.1m | CN¥203.3m | CN¥111.2m | CN¥117.8m |
| Total liabilities | CN¥726.8m | CN¥813.3m | CN¥778.6m | CN¥718.0m | CN¥847.1m | CN¥532.6m | CN¥453.1m | CN¥308.5m | CN¥238.1m | CN¥357.0m |
| Debt | — | CN¥133.5m | CN¥146.8m | CN¥196.5m | CN¥205.5m | CN¥75.0m | CN¥500,000 | CN¥101.3m | CN¥6.4m | CN¥162.0m |
| Shareholders' equity | CN¥841.0m | CN¥887.9m | CN¥1.03bn | CN¥673.3m | CN¥636.0m | CN¥600.6m | CN¥911.9m | CN¥1.03bn | CN¥1.09bn | CN¥1.12bn |
| Shares outstanding | 407m | 441m | 342m | 355m | 307m | 364m | 298m | 411m | 306m | 317m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥25.3m | CN¥62.7m | CN¥115.9m | CN¥47.6m | CN¥41.7m | −CN¥10.2m | CN¥40.1m | CN¥50.9m | CN¥1.1m | CN¥98.9m |
| Capital spending | −CN¥45.6m | −CN¥44.8m | −CN¥65.0m | −CN¥59.0m | −CN¥69.0m | −CN¥65.4m | −CN¥24.3m | −CN¥58.5m | −CN¥15.3m | −CN¥8.6m |
| Free cash flow | −CN¥20.3m | CN¥17.9m | CN¥51.0m | −CN¥11.4m | −CN¥27.3m | −CN¥75.5m | CN¥15.8m | −CN¥7.6m | −CN¥14.2m | CN¥90.3m |
| Dividends paid | −CN¥2.7m | −CN¥3.7m | −CN¥4.7m | −CN¥6.2m | −CN¥3.1m | −CN¥1.7m | −CN¥230,341 | −CN¥35.0m | −CN¥35.0m | −CN¥512,780 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥279.0m | CN¥230.5m | CN¥197.1m | CN¥302.5m | CN¥301.4m | CN¥262.7m | CN¥306.5m | CN¥288.5m |
| Gross profit | CN¥62.3m | CN¥54.5m | CN¥39.9m | CN¥95.4m | CN¥57.6m | CN¥62.1m | CN¥30.4m | CN¥76.9m |
| Operating income | −CN¥820,534 | −CN¥5.2m | −CN¥22.8m | CN¥8.2m | CN¥3.0m | CN¥346,195 | −CN¥46.4m | −CN¥59.1m |
| Net income | −CN¥13.3m | −CN¥13.9m | −CN¥51.0m | CN¥4.0m | CN¥2.6m | CN¥2.2m | −CN¥48.5m | −CN¥50.9m |
| Diluted earnings per share | -0.03 | -0.03 | -0.13 | 0.01 | 0.01 | 0.01 | -0.11 | -0.12 |
| Cash from operations | — | — | — | −CN¥3.0m | CN¥11.0m | −CN¥57.0m | — | −CN¥18.0m |
| Capital spending | −CN¥9.0m | −CN¥15.0m | −CN¥19.0m | −CN¥16.0m | −CN¥5.0m | −CN¥4.0m | −CN¥12.0m | −CN¥5.0m |
| Free cash flow | — | — | — | −CN¥19.0m | CN¥6.0m | −CN¥61.0m | — | −CN¥23.0m |
| Total assets | CN¥1.60bn | CN¥1.50bn | CN¥1.59bn | CN¥1.63bn | CN¥1.68bn | CN¥1.66bn | CN¥1.73bn | CN¥1.75bn |
| Cash and short-term investments | — | — | — | CN¥552.0m | CN¥566.8m | CN¥637.3m | CN¥691.4m | CN¥575.2m |
| Debt | — | — | — | CN¥382.8m | CN¥104.5m | CN¥113.2m | CN¥103.6m | CN¥113.5m |
| Shareholders' equity | CN¥859.2m | CN¥826.1m | CN¥841.0m | CN¥893.9m | CN¥892.9m | CN¥890.1m | CN¥887.9m | CN¥939.2m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 24.0% | 21.2% | 19.5% | 24.7% | 23.3% | 14.9% | — |
| Operating margin | -4.3% | -7.3% | -5.6% | 4.0% | 4.6% | -40.4% | — |
| Net margin | -4.0% | -7.3% | -6.9% | 2.9% | 3.6% | -38.5% | — |
| Return on equity | -5.0% | -10.3% | -7.4% | 4.7% | 7.5% | -52.5% | — |
| Return on assets | -2.6% | -5.3% | -4.2% | 2.2% | 3.1% | -27.2% | — |
| Free cash flow yield | 2.5% | 3.5% | 7.7% | 4.3% | 5.2% | 2.2% | — |
| Revenue growth | -15.1% | 12.5% | 2.8% | -16.9% | 59.2% | -15.3% | — |
| Earnings growth | -54.2% | 20.1% | -342.2% | -33.5% | -115.0% | -880.9% | — |
| Current ratio | 1.82x | 1.75x | 1.89x | 1.42x | 1.34x | 1.55x | — |
| Debt to equity | — | 0.12x | 0.11x | 0.21x | 0.21x | 0.12x | 0.00x |
| Equity ratio | 52.8% | 51.5% | 56.3% | 47.6% | 42.1% | 51.8% | — |
| Interest coverage | -16.53x | -17.24x | -8.93x | 3.97x | 7.51x | -133.82x | — |
| R&D as a share of sales | 5.9% | 5.7% | 5.8% | 5.7% | 4.9% | 7.2% | — |
| Buybacks as a share of market value | 7.6% | -28.9% | 3.7% | -15.7% | 15.6% | -21.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.6% | 5.4% | 10.8% |
| Operating income | -55.7% | — | -14.8% |
| Net income | — | -33.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.4% | 22.2% | 21.5% | 23.8% |
| Operating margin | -3.8% | -2.5% | -5.9% | -3.1% |
| Net margin | -5.8% | -4.0% | -6.7% | -3.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -78.6 | -36.1 | -36.2 | 73.8 | 70.0 | -8.1 | 66.5 | -54.7 | 116.0 | 147.6 |
| Price to sales | 3.1 | 2.6 | 2.5 | 2.1 | 2.5 | 3.1 | 2.8 | 2.7 | 3.7 | 8.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Jun 2020.
| FY2020 | FY2018 | FY2017 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.005 | 0.10 | 0.10 | 0.04 | 0.04 | 0.08 | 0.04 | 0.02 |
- 5-for-2 split · 28 May 2015
- 2-for-1 split · 27 Sept 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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