J 
9.36
-2.09%
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¥1.66bn
FY2016FY2025
Net income
−CN¥427.3m
FY2016FY2025
Free cash flow
−CN¥637.1m
FY2016FY2025
Shareholders' equity
CN¥274.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.66bn | CN¥3.42bn | CN¥4.51bn | CN¥5.53bn | CN¥4.60bn | CN¥4.53bn | CN¥3.43bn | CN¥1.93bn | CN¥574.6m | CN¥6.9m |
| Operating income | −CN¥302.7m | −CN¥1.38bn | −CN¥1.14bn | −CN¥1.48bn | −CN¥440.8m | −CN¥726.7m | CN¥26.9m | CN¥81.5m | CN¥28.2m | CN¥6.4m |
| Net income | −CN¥427.3m | −CN¥924.4m | −CN¥1.15bn | −CN¥1.11bn | −CN¥288.7m | −CN¥713.2m | −CN¥126.4m | CN¥24.5m | CN¥2.4m | CN¥5.9m |
| Diluted earnings per share | -2.45 | -5.31 | -6.61 | -6.37 | -1.66 | -4.09 | -0.94 | 0.19 | 0.03 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥527.3m | CN¥9.30bn | CN¥9.76bn | CN¥11.15bn | CN¥11.30bn | CN¥11.01bn | CN¥11.64bn | CN¥1.21bn | CN¥1.05bn | CN¥238.4m |
| Cash and short-term investments | CN¥99.8m | CN¥239.7m | CN¥175.4m | CN¥222.8m | CN¥199.2m | CN¥192.2m | CN¥491.1m | CN¥122.6m | CN¥98.2m | CN¥47.8m |
| Total liabilities | CN¥1.36bn | CN¥9.75bn | CN¥9.33bn | CN¥11.21bn | CN¥10.25bn | CN¥9.61bn | CN¥10.92bn | CN¥823.4m | CN¥702.4m | CN¥27.5m |
| Debt | CN¥670,149 | CN¥1.29bn | CN¥425.8m | CN¥4.35bn | CN¥4.83bn | CN¥5.38bn | CN¥5.60bn | CN¥476.7m | CN¥259.3m | — |
| Shareholders' equity | CN¥274.9m | −CN¥442.8m | CN¥283.1m | −CN¥301.4m | CN¥631.2m | CN¥928.4m | CN¥73.4m | CN¥237.8m | CN¥213.4m | CN¥210.9m |
| Shares outstanding | 174m | 174m | 174m | 174m | 174m | 174m | 134m | 132m | 88m | 186m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥514.9m | −CN¥144.3m | −CN¥53.8m | CN¥678.4m | CN¥303.9m | CN¥88.6m | CN¥250.1m | −CN¥186.0m | −CN¥46.9m | CN¥2.7m |
| Capital spending | −CN¥122.2m | −CN¥247.6m | −CN¥182.3m | −CN¥426.2m | −CN¥465.8m | −CN¥639.7m | −CN¥250.8m | −CN¥23.7m | −CN¥7.7m | −CN¥8.3m |
| Free cash flow | −CN¥637.1m | −CN¥391.9m | −CN¥236.1m | CN¥252.1m | −CN¥161.9m | −CN¥551.1m | −CN¥738,540 | −CN¥209.7m | −CN¥54.5m | −CN¥5.6m |
| Dividends paid | −CN¥9.0m | −CN¥135.0m | −CN¥246.7m | −CN¥170.9m | −CN¥141.8m | −CN¥250.9m | −CN¥172.6m | −CN¥32.6m | −CN¥4.3m | −CN¥586,722 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥227.0m | CN¥194.3m | CN¥200.9m | CN¥211.6m | CN¥567.1m | CN¥677.5m | CN¥791.2m | CN¥741.8m |
| Operating income | CN¥14.9m | −CN¥3.8m | −CN¥6.2m | −CN¥1.7m | −CN¥187.4m | −CN¥236.5m | −CN¥298.8m | −CN¥379.4m |
| Net income | CN¥4.0m | −CN¥7.8m | −CN¥4.8m | −CN¥3.3m | −CN¥238.3m | −CN¥180.9m | −CN¥272.6m | −CN¥258.2m |
| Diluted earnings per share | 0.02 | -0.04 | -0.03 | -0.02 | -1.37 | -1.04 | -1.56 | -1.48 |
| Cash from operations | — | — | CN¥88.0m | CN¥13.0m | −CN¥371.0m | −CN¥245.0m | — | −CN¥21.0m |
| Capital spending | — | — | — | — | −CN¥50.0m | −CN¥71.0m | −CN¥69.0m | −CN¥61.0m |
| Free cash flow | — | — | — | — | −CN¥421.0m | −CN¥316.0m | — | −CN¥82.0m |
| Total assets | CN¥723.9m | CN¥610.3m | CN¥527.3m | CN¥543.8m | CN¥635.6m | CN¥9.60bn | CN¥9.30bn | CN¥9.36bn |
| Cash and short-term investments | — | — | CN¥99.8m | CN¥20.3m | CN¥48.4m | CN¥478.1m | CN¥239.7m | CN¥232.3m |
| Debt | — | — | CN¥1.4m | CN¥2.1m | CN¥39.1m | CN¥1.24bn | CN¥1.22bn | CN¥2.14bn |
| Shareholders' equity | CN¥271.4m | CN¥267.2m | CN¥274.9m | −CN¥1.02bn | CN¥282.8m | −CN¥543.4m | −CN¥442.8m | −CN¥218.8m |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -18.1% | -23.7% | -25.4% | -19.4% | -2.1% | -16.0% | — | — | — | — |
| Net margin | -25.8% | -27.0% | -25.6% | -20.1% | -6.3% | -15.8% | — | — | — | — |
| Return on equity | -155.5% | 208.8% | -406.8% | 368.2% | -45.7% | -76.8% | — | — | — | — |
| Return on assets | -81.0% | -9.9% | -11.8% | -10.0% | -2.6% | -6.5% | — | — | — | — |
| Free cash flow yield | -21.8% | 5.7% | 7.1% | 61.3% | 42.7% | 40.4% | — | — | — | — |
| Revenue growth | -51.5% | -24.1% | -18.5% | 20.2% | 1.6% | 32.0% | — | — | — | — |
| Earnings growth | -53.8% | -19.7% | 3.8% | 284.5% | -59.5% | 464.2% | — | — | — | — |
| Current ratio | 7.57x | 1.39x | 0.54x | 0.94x | 0.63x | 0.84x | — | — | — | — |
| Debt to equity | 0.01x | -2.75x | 1.11x | -10.12x | 6.47x | 5.23x | — | — | — | — |
| Equity ratio | 52.1% | -4.8% | 2.9% | -2.7% | 5.6% | 8.4% | — | — | — | — |
| Interest coverage | -1.20x | -1.44x | -2.39x | -2.67x | -0.31x | -1.95x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.7% | 0.7% | 0.7% | 1.4% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.0% | -0.0% | 0.0% | -30.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -33.1% | -18.2% | 72.9% |
| Operating income | -41.1% | -16.1% | 11.8% |
| Net income | -27.3% | -9.7% | 15.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -33.2% | -28.5% | -22.6% | -18.0% |
| Net margin | -26.6% | -23.9% | -19.0% | -15.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.2 | -1.3 | -1.9 | -3.7 | -11.2 | -2.9 | -14.7 | 60.3 | — | -41.7 |
| Price to sales | 1.3 | 0.3 | 0.5 | 0.7 | 0.7 | 0.5 | 0.5 | 0.8 | 3.1 | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jun 2012.
| FY2012 | |
|---|---|
| Paid in the year | 0.15 |
- 2-for-1 split · 12 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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