N 
6.26
+1.79%
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¥123.9m
FY2016FY2025
Net income
−CN¥341.7m
FY2016FY2025
Free cash flow
−CN¥23.7m
FY2016FY2025
Shareholders' equity
CN¥43.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥123.9m | CN¥130.7m | CN¥128.7m | CN¥567.4m | CN¥684.4m | CN¥442.8m | CN¥485.9m | CN¥535.7m | CN¥302.9m | CN¥219.1m |
| Research and development | CN¥7.0m | CN¥37.0m | CN¥54.9m | CN¥58.2m | CN¥69.5m | CN¥41.4m | CN¥35.9m | CN¥39.2m | CN¥21.3m | CN¥15.6m |
| Operating income | −CN¥97.3m | CN¥374.5m | CN¥216.4m | −CN¥109.4m | −CN¥305.9m | −CN¥388.2m | CN¥98.1m | CN¥33.6m | CN¥25.5m | CN¥16.0m |
| Net income | −CN¥341.7m | −CN¥441.5m | −CN¥216.4m | −CN¥75.8m | −CN¥275.9m | −CN¥370.5m | CN¥61.4m | CN¥70.0m | CN¥20.9m | CN¥16.2m |
| Diluted earnings per share | -1.24 | -1.62 | -0.78 | -0.29 | -1.08 | -1.95 | 0.29 | 0.38 | 0.14 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.04bn | CN¥1.01bn | CN¥1.62bn | CN¥1.75bn | CN¥1.67bn | CN¥1.43bn | CN¥1.58bn | CN¥1.56bn | CN¥1.59bn | CN¥613.6m |
| Cash and short-term investments | — | CN¥13.4m | CN¥79.5m | CN¥55.1m | CN¥59.5m | CN¥24.7m | CN¥52.1m | CN¥85.1m | CN¥86.3m | CN¥70.6m |
| Total liabilities | CN¥1.02bn | CN¥1.01bn | CN¥1.04bn | CN¥950.4m | CN¥783.2m | CN¥703.2m | CN¥459.3m | CN¥417.6m | CN¥734.8m | CN¥226.5m |
| Debt | CN¥9.2m | CN¥139.9m | CN¥186.3m | CN¥237.3m | CN¥161.7m | CN¥213.5m | CN¥179.3m | CN¥161.2m | CN¥126.9m | CN¥59.6m |
| Shareholders' equity | CN¥43.4m | CN¥26.7m | CN¥616.4m | CN¥813.1m | CN¥883.4m | CN¥696.9m | CN¥1.08bn | CN¥1.13bn | CN¥826.5m | CN¥385.9m |
| Shares outstanding | 275m | 272m | 277m | 257m | 256m | 190m | 214m | 182m | 148m | 153m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥22.6m | −CN¥150.6m | −CN¥66.4m | −CN¥31.6m | −CN¥3.2m | −CN¥78.4m | CN¥64.8m | CN¥61.1m | CN¥16.0m | −CN¥45.4m |
| Capital spending | −CN¥1.1m | −CN¥7.4m | −CN¥7.4m | −CN¥93.3m | −CN¥266.4m | −CN¥54.3m | −CN¥27.6m | −CN¥8.9m | −CN¥23.6m | −CN¥101.9m |
| Free cash flow | −CN¥23.7m | −CN¥158.0m | −CN¥73.8m | −CN¥124.9m | −CN¥269.6m | −CN¥132.7m | CN¥37.2m | CN¥52.1m | −CN¥7.6m | −CN¥147.3m |
| Dividends paid | −CN¥1.4m | −CN¥7.7m | −CN¥11.4m | −CN¥12.1m | −CN¥11.8m | −CN¥12.9m | −CN¥14.6m | −CN¥22.8m | −CN¥6.4m | −CN¥6.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥13.9m | CN¥34.7m | CN¥55.5m | CN¥62.0m | CN¥2.6m | CN¥3.8m | −CN¥144.5m | CN¥158.2m |
| Operating income | −CN¥22.1m | −CN¥16.8m | −CN¥49.3m | −CN¥28.1m | −CN¥35.1m | −CN¥18.6m | CN¥460.5m | −CN¥19.5m |
| Net income | −CN¥10.7m | −CN¥20.4m | −CN¥260.0m | −CN¥16.7m | −CN¥47.8m | −CN¥17.2m | −CN¥383.3m | −CN¥21.2m |
| Diluted earnings per share | -0.04 | -0.07 | -0.95 | -0.06 | -0.17 | -0.06 | -1.41 | -0.08 |
| Cash from operations | — | — | — | — | −CN¥12.0m | −CN¥7.0m | — | −CN¥28.0m |
| Capital spending | — | — | — | — | — | — | — | −CN¥2.0m |
| Free cash flow | — | — | — | — | — | — | — | −CN¥30.0m |
| Total assets | CN¥952.0m | CN¥1.03bn | CN¥1.04bn | CN¥982.8m | CN¥1.03bn | CN¥1.03bn | CN¥1.01bn | CN¥1.51bn |
| Cash and short-term investments | — | — | — | CN¥10.7m | CN¥16.1m | CN¥19.9m | CN¥13.4m | CN¥10.9m |
| Debt | — | CN¥8.2m | CN¥9.2m | CN¥214.8m | CN¥135.1m | CN¥239.1m | CN¥136.0m | CN¥300.3m |
| Shareholders' equity | CN¥12.3m | CN¥23.0m | CN¥43.4m | −CN¥55.0m | −CN¥38.4m | CN¥8.5m | CN¥26.7m | CN¥565.5m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -251.0% | -278.1% | -153.4% | -17.9% | -41.7% | -83.4% |
| Net margin | -275.7% | -337.7% | -168.1% | -13.4% | -40.3% | -83.7% |
| Return on equity | -788.2% | -1653.9% | -35.1% | -9.3% | -31.2% | -53.2% |
| Return on assets | -33.0% | -43.6% | -13.3% | -4.3% | -16.5% | -26.0% |
| Free cash flow yield | -1.3% | -8.5% | -3.4% | 3.9% | 16.6% | -2.0% |
| Revenue growth | -5.2% | 1.6% | -77.3% | -17.1% | 54.6% | -8.9% |
| Earnings growth | -22.6% | 104.0% | 185.6% | -72.5% | -25.5% | -703.1% |
| Current ratio | 0.71x | 0.59x | 1.17x | 1.46x | 1.57x | 1.22x |
| Debt to equity | 0.21x | 5.09x | 0.29x | 0.25x | 0.16x | 0.31x |
| Equity ratio | 4.2% | 2.6% | 38.0% | 46.6% | 52.8% | 48.8% |
| Interest coverage | -10.99x | -14.99x | -11.80x | -13.27x | -19.25x | -28.69x |
| R&D as a share of sales | 5.6% | 28.3% | 42.7% | 10.3% | 10.2% | 9.3% |
| Buybacks as a share of market value | -1.1% | 1.9% | -7.8% | -0.5% | -34.3% | 11.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -39.8% | -22.5% | -5.3% |
| Operating income | -3.8% | -24.2% | — |
| Net income | 65.2% | -1.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 108.8% | 40.4% | -14.9% | -3.0% |
| Net margin | -307.5% | -113.1% | -82.9% | -39.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.2 | -4.0 | -12.1 | -36.0 | -14.9 | -5.0 | 47.6 | 22.1 | 131.9 | 206.4 |
| Price to sales | 17.1 | 13.6 | 20.3 | 4.8 | 6.0 | 4.2 | 6.0 | 2.9 | 9.1 | 15.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 Jul 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|
| Paid in the year | 0.059 | 0.069 | 0.02 | 0.021 | 0.033 |
- 8-for-5 split · 12 Jul 2019
- 3-for-2 split · 17 May 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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