H 
2.92
-0.68%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.17bn
FY2016FY2025
Net income
−CN¥379.8m
FY2016FY2025
Free cash flow
CN¥93.7m
FY2016FY2025
Shareholders' equity
CN¥4.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.17bn | CN¥1.14bn | CN¥1.78bn | CN¥1.87bn | CN¥2.24bn | CN¥2.38bn | CN¥2.74bn | CN¥2.35bn | CN¥2.83bn | CN¥2.71bn |
| Gross profit | CN¥308.3m | CN¥289.9m | CN¥281.7m | CN¥410.8m | CN¥319.4m | CN¥523.5m | CN¥686.2m | CN¥821.1m | CN¥1.05bn | CN¥1.16bn |
| Research and development | CN¥45.1m | CN¥31.4m | CN¥22.6m | CN¥48.1m | CN¥49.0m | CN¥48.1m | CN¥55.1m | CN¥56.5m | CN¥78.9m | CN¥90.9m |
| Operating income | CN¥15.7m | −CN¥377.4m | −CN¥206.7m | CN¥22.9m | −CN¥836.5m | CN¥217.6m | CN¥181.4m | CN¥348.7m | CN¥590.0m | CN¥824.9m |
| Net income | −CN¥379.8m | −CN¥373.4m | −CN¥195.3m | CN¥45.9m | −CN¥791.2m | CN¥192.3m | CN¥158.8m | CN¥216.6m | CN¥522.5m | CN¥795.4m |
| Diluted earnings per share | -0.19 | -0.18 | -0.10 | 0.02 | -0.38 | 0.09 | 0.08 | 0.10 | 0.25 | 0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.86bn | CN¥5.20bn | CN¥5.48bn | CN¥5.86bn | CN¥5.43bn | CN¥6.55bn | CN¥6.14bn | CN¥6.05bn | CN¥5.72bn | CN¥5.43bn |
| Cash and short-term investments | — | CN¥818.5m | CN¥744.5m | CN¥878.8m | CN¥761.6m | CN¥888.1m | CN¥1.32bn | CN¥1.46bn | CN¥1.41bn | CN¥992.1m |
| Total liabilities | CN¥887.0m | CN¥797.5m | CN¥669.1m | CN¥804.6m | CN¥558.3m | CN¥753.2m | CN¥350.7m | CN¥409.4m | CN¥308.4m | CN¥420.0m |
| Debt | — | CN¥505.6m | CN¥343.1m | CN¥403.3m | CN¥252.0m | CN¥463.0m | — | CN¥22.8m | — | CN¥5.7m |
| Shareholders' equity | CN¥4.03bn | CN¥4.45bn | CN¥4.84bn | CN¥5.05bn | CN¥4.85bn | CN¥5.77bn | CN¥5.76bn | CN¥5.60bn | CN¥5.37bn | CN¥4.95bn |
| Shares outstanding | 2,048m | 2,040m | 2,053m | 2,052m | 2,059m | 2,084m | 2,057m | 2,064m | 2,070m | 2,091m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥257.7m | CN¥166.7m | CN¥148.4m | CN¥281.0m | CN¥92.7m | CN¥178.5m | CN¥445.8m | CN¥123.9m | CN¥687.2m | CN¥486.5m |
| Capital spending | −CN¥164.0m | −CN¥195.6m | −CN¥238.2m | −CN¥173.5m | −CN¥349.3m | −CN¥605.9m | −CN¥364.2m | −CN¥96.7m | −CN¥258.9m | −CN¥1.15bn |
| Free cash flow | CN¥93.7m | −CN¥28.9m | −CN¥89.8m | CN¥107.5m | −CN¥256.6m | −CN¥427.4m | CN¥81.6m | CN¥27.2m | CN¥428.3m | −CN¥659.2m |
| Dividends paid | −CN¥11.1m | −CN¥8.4m | −CN¥70.1m | −CN¥4.7m | −CN¥103.1m | −CN¥20.4m | −CN¥20.6m | −CN¥45.1m | −CN¥44.2m | −CN¥105.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥320.2m | CN¥247.4m | CN¥159.3m | CN¥324.5m | CN¥328.3m | CN¥353.5m | CN¥285.3m | CN¥232.9m |
| Gross profit | CN¥107.7m | CN¥70.3m | CN¥32.8m | CN¥89.6m | CN¥93.4m | CN¥92.4m | CN¥25.5m | CN¥74.8m |
| Operating income | CN¥31.3m | CN¥9.7m | −CN¥19.8m | CN¥2.2m | CN¥5.9m | CN¥27.4m | −CN¥356.6m | −CN¥32.0m |
| Net income | CN¥31.4m | CN¥13.1m | −CN¥419.4m | CN¥1.9m | CN¥9.5m | CN¥28.1m | −CN¥347.9m | −CN¥31.8m |
| Diluted earnings per share | 0.02 | 0.01 | -0.20 | 0.00 | 0.00 | 0.01 | -0.17 | -0.02 |
| Cash from operations | — | — | — | CN¥166.0m | CN¥49.0m | −CN¥1.0m | — | −CN¥51.0m |
| Capital spending | −CN¥44.0m | −CN¥34.0m | −CN¥56.0m | −CN¥53.0m | −CN¥24.0m | −CN¥29.0m | −CN¥31.0m | −CN¥65.0m |
| Free cash flow | — | — | — | CN¥113.0m | CN¥25.0m | −CN¥30.0m | — | −CN¥116.0m |
| Total assets | CN¥4.98bn | CN¥4.96bn | CN¥4.86bn | CN¥5.20bn | CN¥5.05bn | CN¥5.12bn | CN¥5.20bn | CN¥5.39bn |
| Cash and short-term investments | — | — | — | CN¥799.2m | CN¥552.5m | CN¥706.1m | CN¥818.5m | CN¥768.4m |
| Debt | — | — | — | CN¥492.9m | CN¥310.1m | CN¥401.3m | CN¥488.2m | CN¥399.4m |
| Shareholders' equity | CN¥4.02bn | CN¥4.02bn | CN¥4.03bn | CN¥4.47bn | CN¥4.47bn | CN¥4.46bn | CN¥4.45bn | CN¥4.73bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 26.4% | 25.4% | 15.8% | 22.0% | 14.3% | 22.0% | — |
| Operating margin | -30.8% | -33.1% | -10.8% | 1.2% | -37.4% | 9.0% | — |
| Net margin | -32.6% | -32.8% | -11.0% | 2.5% | -35.4% | 8.1% | — |
| Return on equity | -9.4% | -8.4% | -4.0% | 0.9% | -16.3% | 3.3% | — |
| Return on assets | -7.8% | -7.2% | -3.6% | 0.8% | -14.6% | 2.9% | — |
| Free cash flow yield | 6.1% | 5.3% | 5.6% | 6.6% | 6.4% | 11.2% | — |
| Revenue growth | 2.3% | -36.1% | -4.7% | -16.3% | -6.2% | -13.2% | — |
| Earnings growth | 1.7% | 91.2% | -525.1% | -105.8% | -511.4% | 21.1% | — |
| Current ratio | 2.23x | 2.43x | 2.87x | 2.88x | 3.90x | 3.87x | — |
| Debt to equity | — | 0.11x | 0.07x | 0.08x | 0.05x | 0.09x | 0.05x |
| Equity ratio | 83.0% | 85.5% | 88.3% | 86.3% | 89.3% | 88.1% | — |
| Interest coverage | -43.00x | -35.27x | -28.85x | 3.16x | -79.88x | 12.54x | — |
| R&D as a share of sales | 3.9% | 2.8% | 1.3% | 2.6% | 2.2% | 2.0% | — |
| Buybacks as a share of market value | -0.4% | 0.7% | -0.1% | 0.4% | 1.2% | -1.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.6% | -13.3% | -4.0% |
| Operating income | -11.7% | -40.9% | -31.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.9% | 21.7% | 20.2% | 29.4% |
| Operating margin | -15.7% | -9.2% | -11.0% | 6.2% |
| Net margin | -32.7% | -15.1% | -14.2% | 3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.4 | -15.2 | -33.7 | 158.5 | -12.3 | 45.6 | 66.9 | 36.8 | 26.7 | 34.3 |
| Price to sales | 6.0 | 5.0 | 3.7 | 3.9 | 4.4 | 3.7 | 3.9 | 3.4 | 4.9 | 10.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jun 2023.
| FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.05 | 0.01 | 0.01 | 0.02 | 0.02 | 0.05 | 0.025 |
- 2-for-1 split · 10 May 2016
- 2-for-1 split · 8 Apr 2015
- 13-for-10 split · 17 Apr 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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