H 
24.23
+0.66%
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¥130.4m
FY2016FY2025
Net income
−CN¥121.8m
FY2016FY2025
Free cash flow
−CN¥76.6m
FY2016FY2025
Shareholders' equity
CN¥104.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥130.4m | CN¥125.6m | CN¥190.2m | CN¥479.2m | CN¥146.0m | CN¥112.4m | CN¥173.5m | CN¥183.3m | CN¥140.1m | CN¥135.0m |
| Research and development | CN¥11.9m | CN¥28.4m | CN¥30.7m | CN¥62.6m | CN¥93.9m | CN¥43.1m | CN¥9.0m | CN¥10.5m | CN¥10.5m | CN¥6.0m |
| Operating income | −CN¥96.9m | −CN¥358.9m | −CN¥176.3m | −CN¥214.3m | −CN¥121.4m | −CN¥50.9m | CN¥37.0m | CN¥65.7m | CN¥59.8m | CN¥53.4m |
| Net income | −CN¥121.8m | −CN¥394.5m | −CN¥209.0m | −CN¥236.6m | −CN¥124.7m | −CN¥50.4m | CN¥29.5m | CN¥55.2m | CN¥54.1m | CN¥48.1m |
| Diluted earnings per share | -0.71 | -2.28 | -1.21 | -1.50 | -0.78 | -0.23 | 0.22 | 0.35 | 0.33 | 0.30 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.34bn | CN¥1.46bn | CN¥1.67bn | CN¥1.58bn | CN¥1.83bn | CN¥1.09bn | CN¥578.8m | CN¥561.0m | CN¥542.8m | CN¥508.1m |
| Cash and short-term investments | — | CN¥268.6m | CN¥378.6m | CN¥205.3m | CN¥210.4m | CN¥192.2m | CN¥337.2m | CN¥47.1m | CN¥47.3m | CN¥103.6m |
| Total liabilities | CN¥1.20bn | CN¥1.25bn | CN¥1.43bn | CN¥1.43bn | CN¥1.65bn | CN¥778.4m | CN¥45.8m | CN¥39.8m | CN¥47.4m | CN¥28.2m |
| Debt | CN¥404.7m | CN¥508.8m | CN¥568.2m | CN¥743.8m | CN¥950.5m | CN¥310.2m | CN¥3.9m | CN¥8.2m | CN¥7.4m | — |
| Shareholders' equity | CN¥104.6m | CN¥162.8m | CN¥204.4m | CN¥106.7m | CN¥187.8m | CN¥308.8m | CN¥524.2m | CN¥506.7m | CN¥490.6m | CN¥479.8m |
| Shares outstanding | 172m | 173m | 172m | 157m | 160m | 216m | 133m | 157m | 163m | 161m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥72.4m | −CN¥135.3m | CN¥181,095 | −CN¥317.1m | −CN¥16.6m | −CN¥1.5m | −CN¥17.5m | CN¥30.9m | CN¥30.0m | CN¥43.7m |
| Capital spending | −CN¥4.2m | −CN¥12.6m | −CN¥246.0m | −CN¥121.6m | −CN¥84.3m | −CN¥196.9m | −CN¥6.7m | −CN¥7.2m | −CN¥9.7m | −CN¥18.6m |
| Free cash flow | −CN¥76.6m | −CN¥147.8m | −CN¥245.8m | −CN¥438.7m | −CN¥100.9m | −CN¥198.4m | −CN¥24.2m | CN¥23.7m | CN¥20.3m | CN¥25.0m |
| Dividends paid | −CN¥18.6m | −CN¥21.7m | −CN¥24.7m | −CN¥19.5m | −CN¥23.8m | −CN¥198.5m | −CN¥10.5m | −CN¥43.3m | −CN¥43.3m | −CN¥43.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥30.5m | CN¥51.0m | CN¥41.7m | CN¥21.2m | CN¥22.8m | CN¥44.7m | CN¥37.4m | CN¥19.9m |
| Operating income | −CN¥15.1m | −CN¥22.1m | −CN¥28.9m | −CN¥42.5m | −CN¥38.6m | −CN¥26.7m | −CN¥245.8m | −CN¥41.8m |
| Net income | CN¥14.8m | −CN¥31.9m | −CN¥8.3m | −CN¥42.9m | −CN¥43.9m | −CN¥26.6m | −CN¥251.8m | −CN¥53.9m |
| Diluted earnings per share | 0.09 | -0.19 | -0.05 | -0.25 | -0.26 | -0.16 | -1.45 | -0.31 |
| Cash from operations | — | — | — | −CN¥18.0m | −CN¥35.0m | −CN¥28.0m | — | −CN¥45.0m |
| Capital spending | −CN¥11.0m | −CN¥4.0m | — | −CN¥7.0m | −CN¥11.0m | −CN¥1.0m | −CN¥1.0m | — |
| Free cash flow | — | — | — | −CN¥25.0m | −CN¥46.0m | −CN¥29.0m | — | — |
| Total assets | CN¥650.1m | CN¥1.23bn | CN¥1.34bn | CN¥1.30bn | CN¥1.28bn | CN¥1.34bn | CN¥1.46bn | CN¥1.77bn |
| Cash and short-term investments | — | — | — | CN¥188.2m | CN¥169.9m | CN¥202.5m | CN¥268.6m | CN¥282.5m |
| Debt | CN¥66.3m | CN¥381.5m | CN¥404.7m | CN¥207.9m | CN¥466.6m | CN¥454.3m | CN¥445.3m | CN¥481.3m |
| Shareholders' equity | CN¥87.5m | CN¥72.7m | CN¥104.6m | CN¥53.6m | CN¥93.1m | CN¥137.5m | CN¥162.8m | CN¥68.6m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -73.7% | -285.8% | -92.7% | -44.5% | -81.3% | -38.2% |
| Net margin | -93.5% | -314.1% | -109.8% | -49.4% | -85.4% | -44.8% |
| Return on equity | -116.5% | -242.3% | -102.2% | -221.8% | -66.4% | -16.3% |
| Return on assets | -9.1% | -27.0% | -12.5% | -15.0% | -6.8% | -4.6% |
| Free cash flow yield | -1.4% | -2.5% | 5.1% | -4.5% | 1.5% | 3.2% |
| Revenue growth | 3.8% | -34.0% | -60.3% | 228.2% | 30.0% | -35.2% |
| Earnings growth | -69.1% | 88.8% | -11.7% | 89.7% | 147.6% | -270.8% |
| Current ratio | 0.85x | 0.88x | 0.79x | 0.58x | 0.51x | 0.59x |
| Debt to equity | 3.87x | 2.74x | 2.05x | 5.85x | 1.77x | 1.00x |
| Equity ratio | 7.8% | 11.1% | 12.2% | 6.8% | 10.2% | 28.2% |
| Interest coverage | -3.54x | -9.38x | -5.13x | -7.46x | -26.05x | -5.64x |
| R&D as a share of sales | 9.2% | 22.6% | 16.1% | 13.1% | 64.3% | 38.4% |
| Buybacks as a share of market value | 0.9% | -0.7% | -9.3% | 1.7% | 25.9% | -62.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -35.2% | 3.0% | 0.7% |
| Operating income | -23.3% | 13.8% | — |
| Net income | -19.9% | 19.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -178.1% | -91.5% | -86.1% | -39.2% |
| Net margin | -201.7% | -104.0% | -96.1% | -47.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -37.6 | -7.4 | -23.0 | -16.0 | -45.6 | -156.5 | 107.8 | 38.7 | 49.4 | 101.2 |
| Price to sales | 35.2 | 23.3 | 25.3 | 7.9 | 38.9 | 70.2 | 18.3 | 11.6 | 19.1 | 36.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 May 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|
| Paid in the year | 1.253 | 0.066 | 0.275 | 0.275 |
- 3-for-2 split · 26 May 2020
- 3-for-2 split · 21 Aug 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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