M 
6.75
0.00%
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¥1.66bn
FY2016FY2025
Net income
−CN¥70.4m
FY2016FY2025
Free cash flow
−CN¥394.6m
FY2016FY2025
Shareholders' equity
CN¥1.84bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.66bn | CN¥1.73bn | CN¥1.87bn | CN¥2.40bn | CN¥1.88bn | CN¥1.52bn | CN¥1.26bn | CN¥583.7m | CN¥464.1m | CN¥417.6m |
| Gross profit | CN¥259.7m | CN¥228.8m | CN¥379.7m | CN¥799.5m | CN¥327.0m | CN¥218.4m | CN¥266.1m | CN¥121.6m | CN¥102.1m | CN¥96.2m |
| Research and development | CN¥61.5m | CN¥66.0m | CN¥71.2m | CN¥94.8m | CN¥68.8m | CN¥50.4m | CN¥50.0m | CN¥19.5m | CN¥16.1m | CN¥14.2m |
| Operating income | −CN¥60.9m | CN¥45.9m | CN¥184.2m | CN¥565.2m | CN¥120.6m | CN¥37.9m | CN¥99.9m | CN¥64.5m | CN¥56.8m | CN¥52.1m |
| Net income | −CN¥70.4m | CN¥35.8m | CN¥115.0m | CN¥317.1m | CN¥63.3m | CN¥41.9m | CN¥90.1m | CN¥63.3m | CN¥54.6m | CN¥47.3m |
| Diluted earnings per share | -0.10 | 0.05 | 0.16 | 0.47 | 0.12 | 0.09 | 0.21 | 0.14 | 0.12 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.75bn | CN¥3.64bn | CN¥3.43bn | CN¥3.01bn | CN¥2.53bn | CN¥1.93bn | CN¥1.81bn | CN¥941.6m | CN¥836.5m | CN¥668.4m |
| Cash and short-term investments | — | CN¥331.5m | CN¥390.6m | CN¥444.3m | CN¥325.0m | CN¥196.4m | CN¥236.5m | CN¥168.3m | CN¥159.1m | CN¥307.8m |
| Total liabilities | CN¥1.53bn | CN¥1.32bn | CN¥1.07bn | CN¥1.08bn | CN¥970.0m | CN¥982.8m | CN¥901.5m | CN¥337.2m | CN¥247.4m | CN¥115.5m |
| Debt | CN¥388.5m | CN¥653.6m | CN¥662.2m | CN¥604.1m | CN¥541.5m | CN¥567.0m | CN¥589.0m | CN¥160.0m | CN¥100.0m | CN¥76.5m |
| Shareholders' equity | CN¥1.84bn | CN¥1.91bn | CN¥1.92bn | CN¥1.61bn | CN¥1.28bn | CN¥754.2m | CN¥695.3m | CN¥604.4m | CN¥589.1m | CN¥552.9m |
| Shares outstanding | 711m | 711m | 711m | 682m | 531m | 456m | 428m | 448m | 465m | 444m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥37.2m | CN¥179.8m | CN¥376.4m | CN¥628.4m | CN¥126.0m | CN¥131.4m | CN¥172.0m | CN¥73.9m | CN¥33.9m | CN¥49.5m |
| Capital spending | −CN¥431.8m | −CN¥228.7m | −CN¥525.6m | −CN¥377.7m | −CN¥326.8m | −CN¥107.9m | −CN¥295.0m | −CN¥141.5m | −CN¥28.2m | −CN¥7.3m |
| Free cash flow | −CN¥394.6m | −CN¥48.9m | −CN¥149.2m | CN¥250.7m | −CN¥200.8m | CN¥23.5m | −CN¥123.0m | −CN¥67.6m | CN¥5.7m | CN¥42.2m |
| Dividends paid | −CN¥24.1m | −CN¥64.0m | −CN¥17.0m | −CN¥18.8m | −CN¥18.2m | −CN¥90.0m | −CN¥23.3m | −CN¥55.5m | −CN¥19.7m | −CN¥684,491 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥467.6m | CN¥438.2m | CN¥416.4m | CN¥366.1m | CN¥430.1m | CN¥447.7m | CN¥460.9m | CN¥417.4m |
| Gross profit | CN¥50.2m | CN¥41.8m | CN¥22.3m | CN¥3.7m | CN¥5.1m | CN¥53.3m | CN¥52.4m | CN¥39.7m |
| Operating income | CN¥10.9m | CN¥3.3m | −CN¥26.1m | −CN¥34.7m | −CN¥39.5m | CN¥7.1m | CN¥11.9m | −CN¥5.2m |
| Net income | CN¥8.7m | CN¥1.4m | −CN¥33.2m | −CN¥21.0m | −CN¥25.6m | CN¥9.4m | −CN¥711,632 | CN¥2.0m |
| Diluted earnings per share | 0.01 | 0.00 | -0.05 | -0.03 | -0.04 | 0.01 | -0.00 | 0.00 |
| Cash from operations | — | — | — | CN¥16.0m | CN¥16.0m | −CN¥12.0m | — | CN¥45.0m |
| Capital spending | −CN¥154.0m | −CN¥182.0m | −CN¥168.0m | −CN¥167.0m | −CN¥46.0m | −CN¥48.0m | −CN¥59.0m | −CN¥26.0m |
| Free cash flow | — | — | — | −CN¥151.0m | −CN¥30.0m | −CN¥60.0m | — | CN¥19.0m |
| Total assets | CN¥4.04bn | CN¥4.01bn | CN¥3.75bn | CN¥3.68bn | CN¥3.58bn | CN¥3.60bn | CN¥3.64bn | CN¥3.51bn |
| Cash and short-term investments | — | — | — | CN¥192.6m | CN¥239.3m | CN¥265.5m | CN¥331.5m | CN¥294.2m |
| Debt | CN¥681.1m | CN¥617.4m | CN¥388.5m | CN¥491.7m | CN¥674.9m | CN¥671.3m | CN¥652.7m | CN¥680.6m |
| Shareholders' equity | CN¥1.85bn | CN¥1.84bn | CN¥1.84bn | CN¥1.88bn | CN¥1.90bn | CN¥1.92bn | CN¥1.91bn | CN¥1.92bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.6% | 13.2% | 20.3% | 33.3% | 17.4% | 14.4% |
| Operating margin | -7.1% | 3.3% | 10.3% | 23.7% | 9.0% | 6.0% |
| Net margin | -4.2% | 2.1% | 6.1% | 13.2% | 3.4% | 2.8% |
| Return on equity | -3.8% | 1.9% | 6.0% | 19.7% | 5.0% | 5.6% |
| Return on assets | -1.9% | 1.0% | 3.4% | 10.5% | 2.5% | 2.2% |
| Free cash flow yield | 7.9% | 6.9% | 15.3% | 17.8% | 10.3% | 6.3% |
| Revenue growth | -3.8% | -7.6% | -22.0% | 27.5% | 24.0% | 20.4% |
| Earnings growth | -296.6% | -68.8% | -63.7% | 401.1% | 51.0% | -53.5% |
| Current ratio | 0.92x | 1.45x | 1.41x | 2.09x | 1.96x | 1.31x |
| Debt to equity | 0.21x | 0.34x | 0.32x | 0.33x | 0.38x | 0.69x |
| Equity ratio | 49.1% | 52.6% | 56.0% | 53.4% | 50.5% | 39.0% |
| Interest coverage | -4.92x | 2.99x | 9.41x | 17.09x | 6.10x | 3.35x |
| R&D as a share of sales | 3.7% | 3.8% | 3.8% | 4.0% | 3.7% | 3.3% |
| Buybacks as a share of market value | 0.0% | -0.0% | -4.3% | -28.3% | -16.3% | -6.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.5% | 1.9% | 17.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.4% | 21.8% | 20.0% | 20.4% |
| Operating margin | -0.4% | 9.6% | 8.1% | 8.6% |
| Net margin | -1.0% | 5.2% | 4.5% | 5.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -110.0 | 161.7 | 50.0 | 28.9 | 88.2 | 78.2 | 40.9 | 29.6 | 35.8 |
| Price to sales | 4.7 | 3.4 | 3.1 | 3.8 | 3.0 | 2.2 | 2.9 | 3.2 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 30 May 2024.
| FY2024 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.049 | 0.081 | 0.032 |
- 13-for-10 split · 26 Apr 2023
- 5-for-2 split · 24 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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