B 
3.37
-2.32%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.05bn
FY2016FY2025
Net income
−CN¥401.7m
FY2016FY2025
Free cash flow
−CN¥193.5m
FY2016FY2025
Shareholders' equity
CN¥4.01bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.05bn | CN¥1.42bn | CN¥1.62bn | CN¥1.53bn | CN¥1.90bn | CN¥1.63bn | CN¥1.48bn | CN¥1.29bn | CN¥1.15bn | CN¥548.6m |
| Gross profit | CN¥374.7m | CN¥617.2m | CN¥753.7m | CN¥751.9m | CN¥1.03bn | CN¥904.3m | CN¥790.2m | CN¥641.8m | CN¥564.2m | CN¥268.6m |
| Research and development | CN¥295.6m | CN¥269.3m | CN¥247.5m | CN¥217.8m | CN¥210.4m | CN¥177.2m | CN¥138.1m | CN¥130.4m | CN¥115.7m | CN¥84.5m |
| Operating income | −CN¥178.9m | −CN¥163.0m | CN¥43.7m | CN¥52.9m | CN¥452.3m | CN¥377.6m | CN¥306.6m | CN¥246.9m | CN¥201.2m | CN¥38.6m |
| Net income | −CN¥401.7m | −CN¥173.5m | CN¥36.7m | CN¥42.6m | CN¥413.0m | CN¥332.3m | CN¥314.1m | CN¥212.7m | CN¥163.2m | CN¥63.0m |
| Diluted earnings per share | -0.26 | -0.11 | 0.02 | 0.03 | 0.27 | 0.23 | 0.22 | 0.15 | 0.12 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.28bn | CN¥5.67bn | CN¥5.79bn | CN¥5.78bn | CN¥5.61bn | CN¥5.25bn | CN¥3.59bn | CN¥3.08bn | CN¥2.70bn | CN¥1.13bn |
| Cash and short-term investments | — | CN¥1.03bn | CN¥1.11bn | CN¥1.48bn | CN¥1.62bn | CN¥1.77bn | CN¥533.9m | CN¥468.4m | CN¥361.1m | CN¥317.9m |
| Total liabilities | CN¥1.20bn | CN¥1.19bn | CN¥1.13bn | CN¥1.18bn | CN¥1.01bn | CN¥1.07bn | CN¥964.3m | CN¥720.6m | CN¥627.2m | CN¥376.8m |
| Debt | — | CN¥56.6m | CN¥16.2m | CN¥107.0m | CN¥13.7m | CN¥163.1m | CN¥203.2m | CN¥177.5m | CN¥100.0m | CN¥6.0m |
| Shareholders' equity | CN¥4.01bn | CN¥4.42bn | CN¥4.61bn | CN¥4.59bn | CN¥4.56bn | CN¥4.14bn | CN¥2.59bn | CN¥2.32bn | CN¥2.04bn | CN¥724.9m |
| Shares outstanding | 1,544m | 1,544m | 1,544m | 1,485m | 1,537m | 1,468m | 1,413m | 1,398m | 1,360m | 1,349m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥21.2m | CN¥114.7m | CN¥157.8m | CN¥144.9m | CN¥176.2m | CN¥271.3m | CN¥80.2m | CN¥169.7m | CN¥174.1m | CN¥119.0m |
| Capital spending | −CN¥172.3m | −CN¥242.7m | −CN¥391.8m | −CN¥319.7m | −CN¥190.6m | −CN¥205.1m | −CN¥120.1m | −CN¥111.7m | −CN¥49.4m | −CN¥114.4m |
| Free cash flow | −CN¥193.5m | −CN¥128.0m | −CN¥234.0m | −CN¥174.8m | −CN¥14.4m | CN¥66.2m | −CN¥40.0m | CN¥58.0m | CN¥124.7m | CN¥4.6m |
| Dividends paid | −CN¥344,619 | −CN¥16.0m | −CN¥15.5m | −CN¥46.5m | −CN¥35.8m | −CN¥33.2m | −CN¥24.3m | −CN¥34.6m | −CN¥27.3m | −CN¥10.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥257.4m | CN¥197.3m | CN¥190.0m | CN¥285.0m | CN¥286.3m | CN¥290.4m | CN¥254.0m | CN¥441.9m |
| Gross profit | CN¥71.5m | CN¥86.3m | −CN¥55.0m | CN¥133.1m | CN¥120.9m | CN¥160.1m | CN¥31.3m | CN¥192.0m |
| Operating income | −CN¥85.5m | −CN¥57.2m | −CN¥182.8m | −CN¥52.4m | −CN¥59.2m | −CN¥15.8m | −CN¥222.0m | CN¥28.9m |
| Net income | −CN¥117.7m | −CN¥79.5m | −CN¥279.4m | −CN¥41.7m | −CN¥64.9m | −CN¥15.6m | −CN¥226.3m | CN¥25.4m |
| Diluted earnings per share | -0.08 | -0.05 | -0.18 | -0.03 | -0.04 | -0.01 | -0.15 | 0.02 |
| Cash from operations | — | — | — | −CN¥26.0m | −CN¥60.0m | −CN¥116.0m | — | −CN¥9.0m |
| Capital spending | −CN¥16.0m | −CN¥39.0m | −CN¥62.0m | −CN¥20.0m | −CN¥39.0m | −CN¥50.0m | −CN¥65.0m | −CN¥38.0m |
| Free cash flow | — | — | — | −CN¥46.0m | −CN¥99.0m | −CN¥166.0m | — | −CN¥47.0m |
| Total assets | CN¥5.00bn | CN¥5.12bn | CN¥5.28bn | CN¥5.49bn | CN¥5.54bn | CN¥5.56bn | CN¥5.67bn | CN¥5.82bn |
| Cash and short-term investments | — | — | — | CN¥778.3m | CN¥825.2m | CN¥867.4m | CN¥1.03bn | CN¥710.0m |
| Debt | — | — | — | CN¥67.4m | CN¥59.6m | CN¥50.0m | CN¥49.8m | CN¥7.3m |
| Shareholders' equity | CN¥3.82bn | CN¥3.93bn | CN¥4.01bn | CN¥4.31bn | CN¥4.34bn | CN¥4.41bn | CN¥4.42bn | CN¥4.65bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 35.6% | 43.4% | 46.6% | 49.2% | 54.1% | 55.4% | — | — |
| Operating margin | -39.4% | -9.7% | 1.8% | 8.7% | 21.6% | 22.1% | — | — |
| Net margin | -38.2% | -12.2% | 2.3% | 2.8% | 21.8% | 20.4% | — | — |
| Return on equity | -10.0% | -3.9% | 0.8% | 0.9% | 9.1% | 8.0% | — | — |
| Return on assets | -7.6% | -3.1% | 0.6% | 0.7% | 7.4% | 6.3% | — | — |
| Free cash flow yield | 2.8% | 6.7% | 10.3% | 9.1% | 6.9% | 9.4% | — | — |
| Revenue growth | -26.1% | -12.0% | 5.8% | -19.6% | 16.3% | 10.3% | — | — |
| Earnings growth | 131.5% | -573.0% | -13.9% | -89.7% | 24.3% | 5.8% | — | — |
| Current ratio | 2.38x | 2.60x | 2.84x | 2.82x | 3.33x | 2.92x | — | — |
| Debt to equity | — | 0.01x | 0.00x | 0.02x | — | 0.06x | 0.08x | 0.08x |
| Equity ratio | 76.0% | 78.0% | 79.5% | 79.4% | 81.3% | 78.9% | — | — |
| Interest coverage | -392.84x | -95.06x | 17.37x | 41.65x | 233.58x | 56.24x | — | — |
| R&D as a share of sales | 28.1% | 18.9% | 15.3% | 14.3% | 11.1% | 10.9% | — | — |
| Buybacks as a share of market value | 0.0% | 0.0% | -4.0% | 3.4% | -4.7% | -3.9% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.7% | -8.4% | 9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.1% | 44.5% | 48.4% | 49.2% |
| Operating margin | -13.8% | -4.4% | 6.4% | 10.0% |
| Net margin | -23.2% | -8.8% | 2.7% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.6 | -39.9 | 275.7 | 275.6 | 41.6 | 46.0 | 41.4 | 43.0 | 30.8 | 135.0 |
| Price to sales | 7.1 | 4.9 | 6.3 | 7.7 | 9.1 | 9.4 | 8.8 | 7.1 | 4.4 | 15.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.03 | 0.023 | 0.023 | 0.017 | 0.017 | 0.017 |
- 13-for-10 split · 28 Jun 2021
- 3-for-2 split · 30 Apr 2020
- 3-for-2 split · 25 Jun 2019
- 2-for-1 split · 29 May 2018
- 3-for-1 split · 24 May 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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