F 
75.72
-0.01%
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¥416.4m
FY2016FY2025
Net income
−CN¥217.8m
FY2016FY2025
Free cash flow
−CN¥94.6m
FY2016FY2025
Shareholders' equity
CN¥277.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥416.4m | CN¥441.5m | CN¥422.7m | CN¥385.8m | CN¥370.4m | CN¥368.5m | CN¥414.9m | CN¥402.4m | CN¥296.1m | CN¥312.9m |
| Research and development | CN¥31.8m | CN¥44.1m | CN¥133.0m | CN¥185.5m | CN¥69.0m | CN¥47.5m | CN¥53.2m | CN¥69.7m | CN¥58.9m | CN¥60.8m |
| Operating income | −CN¥85.9m | −CN¥164.5m | −CN¥267.3m | −CN¥225.0m | −CN¥81.1m | CN¥22.9m | CN¥12.5m | CN¥12.0m | CN¥37.0m | CN¥69.8m |
| Net income | −CN¥217.8m | −CN¥156.3m | −CN¥348.6m | −CN¥127.4m | −CN¥34.9m | CN¥14.8m | CN¥10.7m | CN¥16.5m | CN¥33.6m | CN¥66.4m |
| Diluted earnings per share | -1.37 | -0.98 | -2.19 | -0.80 | -0.22 | 0.11 | 0.08 | 0.12 | 0.24 | 0.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.40bn | CN¥1.44bn | CN¥1.61bn | CN¥1.49bn | CN¥1.45bn | CN¥1.01bn | CN¥896.3m | CN¥854.7m | CN¥736.5m | CN¥700.7m |
| Cash and short-term investments | — | CN¥144.0m | CN¥202.8m | CN¥239.0m | CN¥393.6m | CN¥136.0m | CN¥93.7m | CN¥85.9m | CN¥408.1m | CN¥464.9m |
| Total liabilities | CN¥1.05bn | CN¥1.04bn | CN¥1.05bn | CN¥539.2m | CN¥396.9m | CN¥424.1m | CN¥322.5m | CN¥292.3m | CN¥184.4m | CN¥148.3m |
| Debt | CN¥244.1m | CN¥324.5m | CN¥387.0m | CN¥293.4m | CN¥124.8m | CN¥211.3m | CN¥134.9m | CN¥58.1m | CN¥56.9m | CN¥59.9m |
| Shareholders' equity | CN¥277.5m | CN¥360.2m | CN¥516.5m | CN¥928.5m | CN¥1.04bn | CN¥576.6m | CN¥563.6m | CN¥554.0m | CN¥552.0m | CN¥552.4m |
| Shares outstanding | 159m | 159m | 159m | 159m | 159m | 140m | 140m | 137m | 140m | 141m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥35.1m | CN¥20.7m | −CN¥174.6m | −CN¥119.7m | −CN¥17.8m | CN¥15.6m | CN¥34.0m | CN¥10.9m | CN¥71.5m | CN¥73.8m |
| Capital spending | −CN¥59.5m | −CN¥67.0m | −CN¥201.2m | −CN¥196.0m | −CN¥174.4m | −CN¥54.5m | −CN¥67.8m | −CN¥229.3m | −CN¥35.6m | −CN¥82.5m |
| Free cash flow | −CN¥94.6m | −CN¥46.3m | −CN¥375.8m | −CN¥315.6m | −CN¥192.2m | −CN¥38.9m | −CN¥33.8m | −CN¥218.3m | CN¥35.9m | −CN¥8.7m |
| Dividends paid | −CN¥15.4m | −CN¥17.4m | −CN¥17.4m | −CN¥10.4m | −CN¥9.2m | −CN¥8.8m | −CN¥7.4m | −CN¥15.2m | −CN¥35.4m | −CN¥35.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥121.7m | CN¥98.4m | CN¥100.5m | CN¥104.8m | CN¥111.2m | CN¥97.6m | CN¥115.1m | CN¥108.1m |
| Operating income | −CN¥21.0m | −CN¥16.9m | −CN¥18.7m | −CN¥36.6m | −CN¥33.7m | −CN¥27.2m | −CN¥96.4m | −CN¥27.1m |
| Net income | −CN¥42.2m | −CN¥25.9m | −CN¥106.3m | −CN¥44.9m | −CN¥38.2m | −CN¥28.5m | −CN¥85.7m | −CN¥34.6m |
| Diluted earnings per share | -0.27 | -0.16 | -0.67 | -0.28 | -0.24 | -0.18 | -0.54 | -0.22 |
| Cash from operations | — | — | — | −CN¥25.0m | −CN¥6.0m | −CN¥12.0m | CN¥38.0m | CN¥5.0m |
| Capital spending | −CN¥14.0m | −CN¥12.0m | −CN¥31.0m | −CN¥13.0m | −CN¥3.0m | −CN¥11.0m | −CN¥20.0m | −CN¥11.0m |
| Free cash flow | — | — | — | −CN¥38.0m | −CN¥9.0m | −CN¥23.0m | CN¥18.0m | −CN¥6.0m |
| Total assets | CN¥1.34bn | CN¥1.41bn | CN¥1.40bn | CN¥1.52bn | CN¥1.37bn | CN¥1.38bn | CN¥1.44bn | CN¥1.51bn |
| Cash and short-term investments | — | — | — | CN¥245.2m | CN¥82.4m | CN¥119.5m | CN¥144.0m | CN¥127.3m |
| Debt | CN¥181.1m | CN¥241.1m | CN¥244.1m | CN¥255.3m | CN¥290.1m | CN¥311.9m | CN¥324.5m | CN¥411.9m |
| Shareholders' equity | CN¥209.4m | CN¥251.6m | CN¥277.5m | CN¥383.0m | CN¥292.7m | CN¥331.7m | CN¥360.2m | CN¥445.8m |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -20.6% | -37.3% | -63.2% | -58.3% | -21.9% | 6.2% |
| Net margin | -52.3% | -35.4% | -82.5% | -33.0% | -9.4% | 4.0% |
| Return on equity | -78.5% | -43.4% | -67.5% | -13.7% | -3.3% | 2.6% |
| Return on assets | -15.6% | -10.9% | -21.6% | -8.5% | -2.4% | 1.5% |
| Free cash flow yield | 0.2% | 0.7% | 0.2% | 0.6% | 1.2% | 0.6% |
| Revenue growth | -5.7% | 4.4% | 9.6% | 4.1% | 0.5% | -11.2% |
| Earnings growth | 39.4% | -55.2% | 173.6% | 265.2% | -335.3% | 38.0% |
| Current ratio | 1.08x | 0.71x | 0.75x | 0.97x | 1.82x | 0.87x |
| Debt to equity | 0.88x | 0.90x | 0.75x | 0.32x | 0.12x | 0.37x |
| Equity ratio | 19.8% | 25.0% | 32.0% | 62.1% | 72.1% | 57.3% |
| Interest coverage | -2.62x | -4.62x | -7.63x | -20.97x | -8.78x | 2.54x |
| R&D as a share of sales | 7.6% | 10.0% | 31.5% | 48.1% | 18.6% | 12.9% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | -0.3% | -13.4% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.6% | 2.5% | 3.0% |
| Operating income | -27.4% | — | — |
| Net income | 19.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -29.2% | -44.6% | -33.3% | -13.4% |
| Net margin | -43.6% | -51.0% | -36.2% | -15.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -65.2 | -33.3 | -11.7 | -49.0 | -218.6 | 364.9 | 434.3 | 202.1 | 122.4 | 115.0 |
| Price to sales | 34.1 | 11.8 | 9.7 | 16.2 | 20.6 | 14.7 | 11.2 | 8.3 | 13.9 | 24.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 May 2018.
| FY2018 | FY2017 | FY2016 | |
|---|---|---|---|
| Paid in the year | 0.10 | 0.25 | 0.25 |
- 2-for-1 split · 16 Sept 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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