H 
8.18
-3.31%
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¥149.4m
FY2016FY2025
Net income
−CN¥169.6m
FY2016FY2025
Free cash flow
−CN¥57.5m
FY2016FY2025
Shareholders' equity
CN¥57.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥149.4m | CN¥183.2m | CN¥352.4m | CN¥577.0m | CN¥1.59bn | CN¥1.36bn | CN¥846.5m | CN¥827.3m | CN¥621.4m | CN¥676.0m |
| Gross profit | CN¥27.8m | CN¥43.1m | CN¥101.0m | CN¥146.3m | CN¥354.8m | CN¥369.9m | CN¥247.0m | CN¥266.2m | CN¥213.4m | CN¥309.5m |
| Research and development | CN¥12.4m | CN¥13.7m | CN¥18.1m | CN¥22.1m | CN¥29.6m | CN¥28.3m | CN¥27.3m | CN¥69.5m | CN¥56.0m | CN¥61.7m |
| Operating income | −CN¥52.6m | −CN¥328.1m | −CN¥286.8m | −CN¥333.0m | CN¥51.9m | CN¥164.6m | CN¥82.7m | CN¥32.2m | −CN¥201.9m | CN¥70.4m |
| Net income | −CN¥169.6m | −CN¥269.8m | −CN¥248.0m | −CN¥281.7m | CN¥15.8m | CN¥64.5m | CN¥44.6m | CN¥47.8m | −CN¥165.5m | CN¥45.7m |
| Diluted earnings per share | -0.32 | -0.51 | -0.47 | -0.53 | 0.03 | 0.12 | 0.08 | 0.09 | -0.31 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥424.6m | CN¥766.1m | CN¥2.00bn | CN¥3.37bn | CN¥3.66bn | CN¥3.54bn | CN¥1.96bn | CN¥1.57bn | CN¥1.64bn | CN¥1.75bn |
| Cash and short-term investments | — | CN¥163.6m | CN¥74.0m | CN¥244.5m | CN¥279.1m | CN¥303.6m | CN¥162.3m | CN¥232.8m | CN¥362.6m | CN¥388.0m |
| Total liabilities | CN¥273.4m | CN¥623.7m | CN¥1.62bn | CN¥2.70bn | CN¥2.69bn | CN¥2.51bn | CN¥998.9m | CN¥672.8m | CN¥545.7m | CN¥446.5m |
| Debt | CN¥67.5m | CN¥71.2m | CN¥216.3m | CN¥1.25bn | CN¥691.2m | CN¥834.4m | CN¥304.9m | CN¥179.1m | CN¥145.0m | CN¥160.2m |
| Shareholders' equity | CN¥57.5m | CN¥152.4m | CN¥354.6m | CN¥604.9m | CN¥904.7m | CN¥914.5m | CN¥874.0m | CN¥830.8m | CN¥912.5m | CN¥1.09bn |
| Shares outstanding | 528m | 528m | 529m | 529m | 529m | 531m | 530m | 531m | 541m | 540m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥56.3m | CN¥33.2m | CN¥438.4m | CN¥333.5m | CN¥4.1m | −CN¥435.2m | −CN¥134.4m | −CN¥42.8m | −CN¥90.0m | CN¥43.2m |
| Capital spending | −CN¥1.1m | −CN¥1.1m | −CN¥12.8m | −CN¥19.1m | −CN¥153.2m | −CN¥156.3m | −CN¥48.4m | −CN¥13.5m | −CN¥61.2m | −CN¥44.9m |
| Free cash flow | −CN¥57.5m | CN¥32.0m | CN¥425.6m | CN¥314.4m | −CN¥149.1m | −CN¥591.5m | −CN¥182.8m | −CN¥56.3m | −CN¥151.2m | −CN¥1.6m |
| Dividends paid | −CN¥11.2m | −CN¥36.5m | −CN¥65.3m | −CN¥5.3m | −CN¥9.0m | −CN¥9.0m | −CN¥10.9m | −CN¥11.5m | −CN¥17.9m | −CN¥16.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥26.6m | CN¥25.1m | CN¥36.5m | CN¥32.0m | CN¥54.7m | CN¥26.3m | CN¥22.9m | CN¥39.4m |
| Gross profit | CN¥5.1m | CN¥7.2m | CN¥4.9m | CN¥9.0m | CN¥7.0m | CN¥6.8m | −CN¥18.7m | CN¥18.9m |
| Operating income | −CN¥11.7m | −CN¥7.5m | −CN¥20.2m | −CN¥16.0m | −CN¥25.0m | −CN¥15.3m | −CN¥297.4m | CN¥33.9m |
| Net income | −CN¥13.7m | −CN¥9.3m | −CN¥117.9m | −CN¥16.2m | −CN¥21.4m | −CN¥14.1m | −CN¥240.7m | CN¥27.8m |
| Diluted earnings per share | -0.03 | -0.02 | -0.22 | -0.03 | -0.04 | -0.03 | -0.46 | 0.05 |
| Cash from operations | — | — | — | −CN¥6.0m | −CN¥20.0m | −CN¥25.0m | — | CN¥26.0m |
| Total assets | CN¥408.0m | CN¥431.8m | CN¥424.6m | CN¥630.4m | CN¥622.1m | CN¥646.9m | CN¥766.1m | CN¥974.7m |
| Cash and short-term investments | — | — | — | CN¥37.5m | CN¥29.0m | CN¥63.2m | CN¥163.6m | CN¥66.3m |
| Debt | CN¥63.8m | CN¥63.8m | CN¥67.5m | CN¥48.1m | CN¥77.1m | CN¥69.9m | CN¥71.1m | CN¥34.5m |
| Shareholders' equity | CN¥34.5m | CN¥48.2m | CN¥57.5m | CN¥186.3m | CN¥202.5m | CN¥137.5m | CN¥152.4m | CN¥333.8m |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.6% | 23.5% | 28.7% | 25.3% | 22.3% | 27.2% |
| Operating margin | -115.4% | -145.7% | -50.6% | -31.5% | 10.2% | 17.2% |
| Net margin | -113.5% | -147.3% | -70.4% | -48.8% | 1.0% | 4.7% |
| Return on equity | -295.1% | -177.0% | -69.9% | -46.6% | 1.7% | 7.1% |
| Return on assets | -39.9% | -35.2% | -12.4% | -8.4% | 0.4% | 1.8% |
| Free cash flow yield | -1.1% | 0.7% | 8.8% | 6.9% | 3.1% | -5.4% |
| Revenue growth | -18.4% | -48.0% | -38.9% | -63.8% | 17.2% | 60.6% |
| Earnings growth | -37.1% | 8.8% | -12.0% | -1881.6% | -75.5% | 44.7% |
| Current ratio | 1.09x | 0.76x | 1.04x | 0.96x | 1.07x | 1.14x |
| Debt to equity | 1.17x | 0.47x | 0.61x | 1.94x | 0.70x | 0.74x |
| Equity ratio | 13.5% | 19.9% | 17.7% | 17.9% | 24.7% | 25.8% |
| Interest coverage | -16.80x | -4.45x | -1.68x | -1.20x | 1.48x | 3.40x |
| R&D as a share of sales | 8.3% | 7.5% | 5.1% | 3.8% | 1.9% | 2.1% |
| Buybacks as a share of market value | -0.1% | 0.3% | -0.0% | 0.1% | 0.3% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -36.3% | -35.7% | -11.5% |
| Operating income | -45.9% | — | — |
| Net income | -15.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.3% | 25.2% | 24.8% | 30.0% |
| Operating margin | -114.5% | -79.3% | -18.6% | -9.5% |
| Net margin | -132.1% | -76.8% | -21.1% | -11.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -47.2 | -8.5 | -14.6 | -10.9 | 343.9 | 112.5 | 97.7 | 63.0 | -28.1 | 257.8 |
| Price to sales | 53.6 | 12.5 | 10.2 | 5.3 | 3.4 | 5.3 | 5.2 | 3.6 | 7.5 | 17.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jul 2022.
| FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.017 | 0.017 | 0.02 | 0.02 | 0.02 | 0.10 |
- 2-for-1 split · 19 May 2016
- 2-for-1 split · 27 May 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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