S 
21.90
+0.69%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥439.1m
FY2016FY2025
Net income
−CN¥178.1m
FY2016FY2025
Free cash flow
CN¥30.0m
FY2016FY2025
Shareholders' equity
CN¥1.61bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥439.1m | CN¥448.2m | CN¥462.3m | CN¥447.8m | CN¥473.3m | CN¥914.7m | CN¥972.7m | CN¥527.8m | CN¥411.8m | CN¥318.2m |
| Gross profit | CN¥136.2m | CN¥118.3m | CN¥171.0m | CN¥204.9m | CN¥211.6m | CN¥389.9m | CN¥410.6m | CN¥258.8m | CN¥202.3m | CN¥152.6m |
| Research and development | CN¥29.8m | CN¥43.9m | CN¥48.9m | CN¥43.8m | CN¥36.7m | CN¥35.8m | CN¥52.7m | CN¥28.7m | CN¥28.6m | CN¥21.5m |
| Operating income | −CN¥70.3m | −CN¥233.0m | −CN¥63.5m | −CN¥22.3m | CN¥22.8m | CN¥223.5m | CN¥209.7m | CN¥147.1m | CN¥92.5m | CN¥42.1m |
| Net income | −CN¥178.1m | −CN¥212.9m | −CN¥58.5m | −CN¥31.4m | CN¥10.3m | CN¥188.9m | CN¥188.7m | CN¥125.3m | CN¥79.0m | CN¥49.0m |
| Diluted earnings per share | -0.82 | -2.50 | -0.73 | -0.15 | 0.07 | 1.79 | 0.99 | 0.64 | 0.42 | 0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.35bn | CN¥2.53bn | CN¥2.87bn | CN¥2.85bn | CN¥2.77bn | CN¥1.66bn | CN¥1.50bn | CN¥1.12bn | CN¥1.10bn | CN¥874.6m |
| Cash and short-term investments | — | CN¥1.25bn | CN¥1.35bn | CN¥1.39bn | CN¥1.59bn | CN¥687.9m | CN¥827.9m | CN¥210.1m | CN¥420.2m | CN¥547.9m |
| Total liabilities | CN¥714.6m | CN¥676.5m | CN¥749.0m | CN¥659.8m | CN¥559.2m | CN¥601.4m | CN¥637.4m | CN¥423.6m | CN¥539.3m | CN¥368.2m |
| Debt | — | CN¥145.5m | CN¥162.4m | CN¥145.7m | CN¥96.3m | CN¥224.3m | CN¥261.8m | CN¥70.2m | CN¥125.4m | CN¥87.5m |
| Shareholders' equity | CN¥1.61bn | CN¥1.79bn | CN¥2.05bn | CN¥2.12bn | CN¥2.15bn | CN¥1.02bn | CN¥848.6m | CN¥674.5m | CN¥559.1m | CN¥506.4m |
| Shares outstanding | 216m | 85m | 81m | 206m | 146m | 106m | 191m | 196m | 188m | 160m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥54.9m | CN¥52.6m | CN¥64.3m | −CN¥39.2m | −CN¥84.8m | CN¥52.7m | CN¥227.6m | −CN¥8.5m | CN¥184.9m | CN¥123.0m |
| Capital spending | −CN¥24.9m | −CN¥23.1m | −CN¥16.7m | −CN¥10.5m | −CN¥34.4m | −CN¥30.1m | −CN¥53.5m | −CN¥27.9m | −CN¥3.7m | −CN¥1.9m |
| Free cash flow | CN¥30.0m | CN¥29.5m | CN¥47.5m | −CN¥49.7m | −CN¥119.2m | CN¥22.5m | CN¥174.1m | −CN¥36.4m | CN¥181.2m | CN¥121.0m |
| Dividends paid | −CN¥166,523 | −CN¥4.6m | −CN¥36,935 | −CN¥6,693 | −CN¥19.4m | −CN¥19.4m | −CN¥24.2m | −CN¥16.8m | −CN¥33.3m | −CN¥33.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥169.8m | CN¥112.9m | CN¥112.7m | CN¥106.5m | CN¥105.1m | CN¥114.8m | CN¥121.3m | CN¥107.7m |
| Gross profit | CN¥50.4m | CN¥34.2m | CN¥35.6m | CN¥31.6m | CN¥39.6m | CN¥29.5m | CN¥18.1m | CN¥28.7m |
| Operating income | −CN¥43.3m | −CN¥9.9m | −CN¥34.1m | −CN¥11.6m | −CN¥13.6m | −CN¥6.7m | −CN¥196.1m | −CN¥16.3m |
| Net income | −CN¥32.9m | −CN¥5.2m | −CN¥156.9m | −CN¥6.7m | −CN¥10.4m | −CN¥4.0m | −CN¥186.5m | −CN¥11.2m |
| Diluted earnings per share | -0.15 | -0.02 | -0.73 | -0.03 | -0.05 | -0.02 | -2.19 | -0.13 |
| Cash from operations | — | — | — | CN¥9.0m | CN¥22.0m | −CN¥11.0m | — | CN¥1.0m |
| Capital spending | −CN¥14.0m | −CN¥2.0m | −CN¥16.0m | −CN¥3.0m | −CN¥3.0m | −CN¥1.0m | −CN¥13.0m | −CN¥1.0m |
| Free cash flow | — | — | — | CN¥6.0m | CN¥19.0m | −CN¥12.0m | — | CN¥0 |
| Total assets | CN¥2.25bn | CN¥2.27bn | CN¥2.35bn | CN¥2.48bn | CN¥2.53bn | CN¥2.51bn | CN¥2.53bn | CN¥2.79bn |
| Cash and short-term investments | — | — | — | CN¥1.22bn | CN¥1.25bn | CN¥1.23bn | CN¥1.25bn | CN¥1.24bn |
| Debt | CN¥500,000 | — | — | CN¥109.9m | CN¥11.0m | CN¥971,500 | CN¥620,000 | CN¥775,000 |
| Shareholders' equity | CN¥1.62bn | CN¥1.61bn | CN¥1.61bn | CN¥1.77bn | CN¥1.78bn | CN¥1.79bn | CN¥1.79bn | CN¥1.98bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2012 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 31.0% | 26.4% | 37.0% | 45.7% | 44.7% | 42.6% | — |
| Operating margin | -44.3% | -50.5% | -12.1% | -3.7% | 5.9% | 24.4% | — |
| Net margin | -40.6% | -47.5% | -12.7% | -7.0% | 2.2% | 20.7% | — |
| Return on equity | -11.0% | -11.9% | -2.9% | -1.5% | 0.5% | 18.5% | — |
| Return on assets | -7.6% | -8.4% | -2.0% | -1.1% | 0.4% | 11.4% | — |
| Free cash flow yield | 1.6% | 3.8% | 4.3% | -0.6% | -1.5% | 3.3% | — |
| Revenue growth | -2.0% | -3.0% | 3.2% | -5.4% | -48.3% | -6.0% | — |
| Earnings growth | -16.3% | 263.7% | 86.3% | -406.2% | -94.6% | 0.1% | — |
| Current ratio | 3.01x | 3.44x | 3.39x | 3.52x | 4.23x | 1.84x | — |
| Debt to equity | — | 0.00x | 0.00x | 0.00x | — | — | 0.05x |
| Equity ratio | 68.8% | 70.8% | 71.4% | 74.2% | 77.7% | 61.4% | — |
| Interest coverage | -37.75x | -31.33x | -7.04x | -2.79x | 6.34x | 377.84x | — |
| R&D as a share of sales | 6.8% | 9.8% | 10.6% | 9.8% | 7.8% | 3.9% | — |
| Buybacks as a share of market value | -153.7% | -5.5% | 60.9% | -40.8% | -38.8% | 44.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.7% | -13.7% | 4.5% |
| Operating income | 46.7% | — | — |
| Net income | 78.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.7% | 35.1% | 38.7% | 41.9% |
| Operating margin | -34.2% | -21.6% | -4.5% | 6.8% |
| Net margin | -44.1% | -26.8% | -8.8% | 3.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -34.5 | -7.2 | -24.9 | -75.2 | 294.8 | 22.8 | 48.7 | 26.5 | 18.2 | 25.4 |
| Price to sales | 14.0 | 3.4 | 3.1 | 5.3 | 6.4 | 4.7 | 9.4 | 6.3 | 3.5 | 3.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2024.
| FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.085 | 0.10 | 0.125 | 0.087 | 0.174 |
- 8-for-5 split · 28 Jun 2019
- 9-for-5 split · 1 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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