H 
10.45
-2.70%
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¥122.8m
FY2016FY2025
Net income
−CN¥89.8m
FY2016FY2025
Free cash flow
−CN¥48.4m
FY2016FY2025
Shareholders' equity
CN¥627.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥122.8m | CN¥159.2m | CN¥297.5m | CN¥379.2m | CN¥521.8m | CN¥475.6m | CN¥553.5m | CN¥527.4m | CN¥469.7m | CN¥389.2m |
| Gross profit | CN¥15.1m | CN¥14.5m | CN¥67.6m | CN¥97.1m | CN¥134.6m | CN¥117.3m | CN¥158.8m | CN¥150.5m | CN¥126.6m | CN¥102.4m |
| Research and development | CN¥9.7m | CN¥11.9m | CN¥14.4m | CN¥15.8m | CN¥21.8m | CN¥20.4m | CN¥22.3m | CN¥20.0m | CN¥19.5m | CN¥16.5m |
| Operating income | −CN¥56.6m | −CN¥105.1m | −CN¥83.7m | CN¥5.9m | −CN¥73.0m | CN¥36.2m | CN¥56.7m | CN¥59.0m | CN¥43.3m | CN¥30.8m |
| Net income | −CN¥89.8m | −CN¥97.9m | −CN¥78.9m | CN¥8.3m | −CN¥79.6m | CN¥31.8m | CN¥52.0m | CN¥54.5m | CN¥41.0m | CN¥33.3m |
| Diluted earnings per share | -0.36 | -0.40 | -0.30 | 0.02 | -0.30 | 0.14 | 0.22 | 0.23 | 0.16 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.02bn | CN¥1.11bn | CN¥1.26bn | CN¥1.41bn | CN¥1.39bn | CN¥1.29bn | CN¥1.25bn | CN¥1.13bn | CN¥1.00bn | CN¥929.0m |
| Cash and short-term investments | — | CN¥39.7m | CN¥63.5m | CN¥95.1m | CN¥122.0m | CN¥100.9m | CN¥164.2m | CN¥329.0m | CN¥199.1m | CN¥148.9m |
| Total liabilities | CN¥386.7m | CN¥393.4m | CN¥425.8m | CN¥488.2m | CN¥469.4m | CN¥289.6m | CN¥276.5m | CN¥238.2m | CN¥163.9m | CN¥124.7m |
| Debt | CN¥143.5m | CN¥310.6m | CN¥260.1m | CN¥300.9m | CN¥259.1m | CN¥63.8m | CN¥36.2m | CN¥37.6m | CN¥12.2m | CN¥9.0m |
| Shareholders' equity | CN¥627.9m | CN¥717.7m | CN¥836.0m | CN¥920.5m | CN¥914.0m | CN¥996.8m | CN¥969.5m | CN¥890.0m | CN¥834.9m | CN¥800.2m |
| Shares outstanding | 253m | 246m | 260m | 350m | 269m | 223m | 237m | 237m | 251m | 251m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥44.6m | −CN¥75.6m | CN¥22.2m | −CN¥75.8m | −CN¥23.7m | CN¥5.0m | −CN¥42.4m | CN¥50.3m | CN¥63.8m | CN¥42.0m |
| Capital spending | −CN¥3.8m | −CN¥13.1m | −CN¥35.1m | −CN¥30.3m | −CN¥135.1m | −CN¥75.9m | −CN¥63.8m | −CN¥35.3m | −CN¥53.6m | −CN¥17.5m |
| Free cash flow | −CN¥48.4m | −CN¥88.7m | −CN¥12.9m | −CN¥106.1m | −CN¥158.9m | −CN¥70.9m | −CN¥106.2m | CN¥15.0m | CN¥10.2m | CN¥24.5m |
| Dividends paid | −CN¥15.4m | −CN¥6.2m | −CN¥4.9m | −CN¥9.6m | −CN¥3.5m | −CN¥7.1m | −CN¥8.8m | −CN¥7.6m | −CN¥6.3m | −CN¥6.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥27.5m | CN¥22.1m | CN¥34.3m | CN¥31.9m | CN¥28.9m | CN¥27.8m | CN¥38.9m | CN¥36.4m |
| Gross profit | CN¥3.9m | CN¥4.0m | CN¥6.0m | CN¥3.1m | CN¥2.3m | CN¥3.7m | −CN¥7.4m | CN¥5.7m |
| Operating income | −CN¥17.7m | −CN¥12.7m | −CN¥15.1m | −CN¥18.9m | −CN¥15.9m | −CN¥11.9m | −CN¥94.5m | CN¥1.8m |
| Net income | −CN¥28.8m | −CN¥20.6m | −CN¥49.9m | −CN¥15.4m | −CN¥14.7m | −CN¥9.7m | −CN¥83.3m | CN¥2.9m |
| Diluted earnings per share | -0.11 | -0.08 | -0.20 | -0.06 | -0.06 | -0.04 | -0.34 | 0.01 |
| Cash from operations | — | — | — | CN¥3.0m | CN¥4.0m | −CN¥21.0m | CN¥17.0m | −CN¥4.0m |
| Capital spending | −CN¥3.0m | −CN¥1.0m | — | — | — | −CN¥1.0m | −CN¥2.0m | −CN¥3.0m |
| Free cash flow | — | — | — | — | — | −CN¥22.0m | CN¥15.0m | −CN¥7.0m |
| Total assets | CN¥1.07bn | CN¥1.03bn | CN¥1.02bn | CN¥1.08bn | CN¥1.10bn | CN¥1.10bn | CN¥1.11bn | CN¥1.25bn |
| Cash and short-term investments | — | — | — | CN¥32.6m | CN¥38.3m | CN¥27.9m | CN¥39.7m | CN¥49.2m |
| Debt | CN¥88.3m | CN¥130.5m | CN¥143.5m | CN¥200.1m | CN¥331.5m | CN¥342.8m | CN¥310.6m | CN¥333.8m |
| Shareholders' equity | CN¥574.5m | CN¥607.3m | CN¥627.9m | CN¥677.8m | CN¥693.2m | CN¥708.0m | CN¥717.7m | CN¥821.4m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 12.3% | 9.1% | 22.7% | 25.6% | 25.8% | 24.7% |
| Operating margin | -75.2% | -66.0% | -24.6% | 4.9% | -14.0% | 7.6% |
| Net margin | -73.1% | -61.5% | -26.5% | 2.2% | -15.3% | 6.7% |
| Return on equity | -14.3% | -13.6% | -9.4% | 0.9% | -8.7% | 3.2% |
| Return on assets | -8.8% | -8.8% | -6.2% | 0.6% | -5.7% | 2.5% |
| Free cash flow yield | — | -2.7% | — | — | — | — |
| Revenue growth | -22.9% | -46.5% | -21.6% | -27.3% | 9.7% | -14.1% |
| Earnings growth | -8.3% | 24.2% | -1047.3% | -110.5% | -350.1% | -38.8% |
| Current ratio | 2.27x | 2.01x | 1.56x | 1.51x | 1.45x | 2.08x |
| Debt to equity | 0.23x | 0.43x | 0.31x | 0.33x | 0.28x | 0.06x |
| Equity ratio | 61.8% | 64.6% | 66.3% | 65.3% | 66.0% | 77.3% |
| Interest coverage | -10.47x | -13.15x | -8.04x | 1.46x | -10.49x | 10.83x |
| R&D as a share of sales | 7.9% | 7.5% | 4.8% | 4.2% | 4.2% | 4.3% |
| Buybacks as a share of market value | -2.8% | 5.4% | 25.7% | -30.3% | -20.4% | 6.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -31.3% | -23.7% | -10.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.5% | 20.3% | 22.8% | 25.5% |
| Operating margin | -57.3% | -25.0% | -14.1% | -1.3% |
| Net margin | -66.6% | -26.9% | -15.6% | -2.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -45.6 | -12.9 | -24.6 | 289.8 | -32.8 | 50.0 | 43.5 | 30.8 | 53.6 | 121.4 |
| Price to sales | 33.3 | 7.9 | 6.5 | 6.4 | 5.0 | 3.3 | 4.1 | 3.2 | 4.7 | 10.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 17 Jan 2025.
| FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.032 | 0.014 | 0.028 | 0.035 | 0.029 | 0.025 | 0.024 | 0.019 |
- 9-for-5 split · 14 Oct 2015
- 2-for-1 split · 20 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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