A 
19.32
+0.05%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥194.0m
FY2016FY2025
Net income
−CN¥15.1m
FY2016FY2025
Free cash flow
−CN¥44.9m
FY2016FY2025
Shareholders' equity
CN¥530.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥194.0m | CN¥190.0m | CN¥159.3m | CN¥129.6m | CN¥153.4m | CN¥136.4m | CN¥164.9m | CN¥173.9m | CN¥180.2m | CN¥185.3m |
| Gross profit | CN¥70.0m | CN¥66.6m | CN¥58.1m | CN¥49.4m | CN¥68.5m | CN¥60.2m | CN¥78.6m | CN¥85.5m | CN¥90.8m | CN¥95.5m |
| Research and development | CN¥34.3m | CN¥25.5m | CN¥26.3m | CN¥27.8m | CN¥21.7m | CN¥23.6m | CN¥26.5m | CN¥25.8m | CN¥19.4m | CN¥16.7m |
| Operating income | −CN¥5.3m | CN¥4.8m | −CN¥1.2m | −CN¥8.9m | CN¥3.0m | −CN¥16.6m | CN¥5.6m | CN¥25.5m | CN¥39.6m | CN¥43.4m |
| Net income | −CN¥15.1m | −CN¥3.0m | −CN¥6.0m | −CN¥5.3m | CN¥5.0m | −CN¥12.1m | CN¥5.8m | CN¥25.4m | CN¥36.7m | CN¥46.7m |
| Diluted earnings per share | -0.10 | -0.02 | -0.04 | -0.04 | 0.03 | -0.08 | 0.04 | 0.18 | 0.24 | 1.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥650.7m | CN¥589.7m | CN¥583.7m | CN¥589.5m | CN¥601.1m | CN¥599.7m | CN¥589.2m | CN¥584.1m | CN¥546.2m | CN¥515.8m |
| Cash and short-term investments | — | CN¥89.5m | CN¥102.8m | CN¥104.5m | CN¥79.0m | CN¥61.9m | CN¥75.1m | CN¥123.1m | CN¥76.9m | CN¥101.2m |
| Total liabilities | CN¥120.2m | CN¥89.9m | CN¥77.8m | CN¥76.0m | CN¥82.0m | CN¥85.6m | CN¥62.2m | CN¥67.2m | CN¥51.9m | CN¥50.3m |
| Debt | — | CN¥5.0m | CN¥10.6m | CN¥9.7m | CN¥15.0m | CN¥7.7m | CN¥7.0m | CN¥6.6m | CN¥3.9m | CN¥4.3m |
| Shareholders' equity | CN¥530.5m | CN¥489.2m | CN¥495.3m | CN¥502.9m | CN¥508.5m | CN¥503.5m | CN¥516.4m | CN¥512.6m | CN¥494.2m | CN¥465.6m |
| Shares outstanding | 147m | 143m | 145m | 143m | 147m | 144m | 143m | 144m | 155m | 47m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥34.3m | −CN¥12.3m | CN¥4.7m | CN¥26.5m | CN¥34.7m | CN¥22.6m | CN¥9.0m | CN¥31.6m | CN¥34.5m | CN¥31.5m |
| Capital spending | −CN¥10.6m | −CN¥4.3m | −CN¥4.5m | −CN¥6.7m | −CN¥27.9m | −CN¥35.6m | −CN¥81.2m | −CN¥80.8m | −CN¥37.4m | −CN¥42.6m |
| Free cash flow | −CN¥44.9m | −CN¥16.6m | CN¥190,542 | CN¥19.7m | CN¥6.8m | −CN¥13.0m | −CN¥72.2m | −CN¥49.2m | −CN¥2.9m | −CN¥11.2m |
| Dividends paid | −CN¥5.8m | — | — | — | — | −CN¥720,000 | −CN¥5.0m | −CN¥7.4m | −CN¥6.4m | −CN¥6.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥50.2m | CN¥33.9m | CN¥74.5m | CN¥43.4m | CN¥45.2m | CN¥30.9m | CN¥67.8m | CN¥41.9m |
| Gross profit | CN¥16.0m | CN¥12.6m | CN¥23.9m | CN¥17.5m | CN¥18.5m | CN¥10.1m | CN¥15.4m | CN¥15.6m |
| Operating income | −CN¥7.9m | −CN¥6.0m | CN¥8.2m | −CN¥6.1m | −CN¥5.4m | −CN¥5.1m | CN¥10.2m | −CN¥3.5m |
| Net income | −CN¥10.9m | −CN¥5.1m | CN¥4.7m | −CN¥6.6m | −CN¥6.5m | −CN¥6.8m | CN¥6.6m | −CN¥4.8m |
| Diluted earnings per share | -0.07 | -0.03 | 0.03 | -0.04 | -0.04 | -0.05 | 0.05 | -0.03 |
| Cash from operations | — | — | — | −CN¥17.0m | −CN¥14.0m | −CN¥7.0m | CN¥13.0m | −CN¥2.0m |
| Capital spending | −CN¥3.0m | −CN¥2.0m | −CN¥1.0m | −CN¥2.0m | −CN¥4.0m | −CN¥7.0m | −CN¥1.0m | — |
| Free cash flow | — | — | — | −CN¥19.0m | −CN¥18.0m | −CN¥14.0m | CN¥12.0m | — |
| Total assets | CN¥657.3m | CN¥660.0m | CN¥650.7m | CN¥640.7m | CN¥636.3m | CN¥575.0m | CN¥589.7m | CN¥584.0m |
| Cash and short-term investments | — | — | — | CN¥58.7m | CN¥75.7m | CN¥70.1m | CN¥89.5m | CN¥74.3m |
| Debt | — | — | — | CN¥642,098 | CN¥9.5m | CN¥600,000 | CN¥5.0m | CN¥4.6m |
| Shareholders' equity | CN¥522.2m | CN¥533.1m | CN¥530.5m | CN¥526.6m | CN¥477.3m | CN¥483.1m | CN¥489.2m | CN¥487.5m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2013 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 36.1% | 35.0% | 36.5% | 38.1% | 44.6% | 44.1% | — |
| Operating margin | -6.6% | 2.3% | -1.1% | -6.4% | 2.0% | -13.0% | — |
| Net margin | -7.8% | -1.6% | -3.8% | -4.1% | 3.3% | -8.9% | — |
| Return on equity | -2.9% | -0.6% | -1.2% | -1.1% | 1.0% | -2.4% | — |
| Return on assets | -2.3% | -0.5% | -1.0% | -0.9% | 0.8% | -2.0% | — |
| Free cash flow yield | -0.8% | -0.3% | 0.3% | 1.1% | 2.0% | 1.9% | — |
| Revenue growth | 2.1% | 19.3% | 22.9% | -15.5% | 12.4% | -17.3% | — |
| Earnings growth | 398.5% | -49.7% | 13.0% | -206.6% | -141.2% | -310.6% | — |
| Current ratio | 3.63x | 3.87x | 3.79x | 4.63x | 4.34x | 3.90x | — |
| Debt to equity | — | 0.01x | 0.02x | 0.02x | 0.03x | 0.02x | 0.00x |
| Equity ratio | 81.5% | 83.0% | 84.9% | 85.3% | 84.6% | 84.0% | — |
| Interest coverage | -540.38x | 27.23x | -19.31x | -105.08x | 20.95x | -205.01x | — |
| R&D as a share of sales | 17.7% | 13.4% | 16.5% | 21.4% | 14.2% | 17.3% | — |
| Buybacks as a share of market value | -2.9% | 1.1% | -1.0% | 2.7% | -2.5% | -0.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.4% | 7.3% | 0.8% |
| Operating income | -16.2% | -20.5% | — |
| Net income | 41.5% | 4.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.6% | 36.3% | 38.7% | 44.1% |
| Operating margin | -0.1% | -1.6% | -2.5% | 7.1% |
| Net margin | -4.7% | -4.4% | -3.8% | 6.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -277.8 | -967.9 | -332.5 | -266.4 | 414.6 | -241.1 | 263.0 | 49.7 | 71.4 | 33.6 |
| Price to sales | 21.7 | 15.5 | 12.6 | 11.0 | 13.5 | 21.5 | 9.2 | 7.3 | 14.5 | 8.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 10 Feb 2025.
| FY2024 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.005 | 0.035 | 0.05 | 0.056 |
- 9-for-5 split · 29 Sept 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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