G 
5.22
-0.95%
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¥516.7m
FY2016FY2025
Net income
−CN¥151.2m
FY2016FY2025
Free cash flow
−CN¥76.2m
FY2016FY2025
Shareholders' equity
CN¥166.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥516.7m | CN¥586.6m | CN¥617.9m | CN¥475.6m | CN¥339.3m | CN¥343.6m | CN¥675.5m | CN¥693.4m | CN¥604.1m | CN¥601.9m |
| Gross profit | CN¥72.3m | CN¥54.1m | CN¥95.3m | CN¥17.7m | CN¥28.6m | CN¥25.8m | CN¥209.4m | CN¥232.4m | CN¥185.9m | CN¥173.2m |
| Research and development | CN¥13.9m | CN¥30.2m | CN¥30.7m | CN¥33.9m | CN¥31.4m | CN¥32.7m | CN¥32.7m | CN¥19.6m | CN¥13.3m | CN¥9.1m |
| Operating income | −CN¥82.6m | −CN¥149.6m | −CN¥81.4m | −CN¥212.7m | −CN¥120.3m | −CN¥153.2m | CN¥52.0m | CN¥67.3m | CN¥55.5m | CN¥54.7m |
| Net income | −CN¥151.2m | −CN¥175.9m | −CN¥71.6m | −CN¥212.5m | −CN¥131.0m | −CN¥145.2m | CN¥24.0m | CN¥37.8m | CN¥37.3m | CN¥37.0m |
| Diluted earnings per share | -0.37 | -0.43 | -0.18 | -0.49 | -0.40 | -0.47 | 0.08 | 0.12 | 0.29 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥583.6m | CN¥754.1m | CN¥1.00bn | CN¥950.3m | CN¥764.5m | CN¥1.05bn | CN¥1.27bn | CN¥1.11bn | CN¥1.02bn | CN¥711.3m |
| Cash and short-term investments | — | CN¥158.5m | CN¥149.1m | CN¥117.9m | CN¥35.9m | CN¥114.9m | CN¥220.7m | CN¥102.6m | CN¥233.3m | CN¥208.5m |
| Total liabilities | CN¥400.0m | CN¥423.4m | CN¥497.6m | CN¥373.8m | CN¥380.1m | CN¥537.4m | CN¥667.6m | CN¥587.6m | CN¥562.3m | CN¥430.3m |
| Debt | CN¥9.6m | CN¥148.6m | CN¥177.6m | CN¥165.0m | CN¥220.3m | CN¥302.7m | CN¥412.9m | CN¥322.0m | CN¥311.1m | CN¥111.6m |
| Shareholders' equity | CN¥166.5m | CN¥313.9m | CN¥490.1m | CN¥555.6m | CN¥358.8m | CN¥489.5m | CN¥568.9m | CN¥493.9m | CN¥456.3m | CN¥281.0m |
| Shares outstanding | 405m | 405m | 406m | 430m | 329m | 307m | 311m | 312m | 131m | 198m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥70.4m | CN¥78.4m | CN¥7.8m | −CN¥150.8m | CN¥76.8m | −CN¥4.5m | CN¥30.4m | −CN¥87.7m | −CN¥259.4m | CN¥67.7m |
| Capital spending | −CN¥5.9m | −CN¥13.2m | −CN¥16.8m | −CN¥97.5m | −CN¥13.2m | −CN¥16.0m | −CN¥20.2m | −CN¥20.0m | −CN¥35.6m | −CN¥2.2m |
| Free cash flow | −CN¥76.2m | CN¥65.2m | −CN¥9.0m | −CN¥248.3m | CN¥63.7m | −CN¥20.5m | CN¥10.2m | −CN¥107.7m | −CN¥295.0m | CN¥65.5m |
| Dividends paid | −CN¥7.9m | −CN¥10.9m | −CN¥7.7m | −CN¥14.4m | −CN¥13.7m | −CN¥10.0m | −CN¥22.3m | −CN¥14.0m | −CN¥21.9m | −CN¥8.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥134.0m | CN¥114.7m | CN¥151.0m | CN¥144.5m | CN¥136.9m | CN¥84.3m | CN¥152.9m | CN¥166.6m |
| Gross profit | CN¥33.6m | CN¥32.1m | CN¥21.0m | CN¥18.3m | CN¥15.3m | CN¥17.7m | CN¥10.0m | CN¥1.9m |
| Operating income | −CN¥3.1m | CN¥1.7m | −CN¥31.6m | −CN¥28.8m | −CN¥20.7m | −CN¥10.4m | −CN¥92.1m | −CN¥38.8m |
| Net income | −CN¥3.9m | CN¥2.8m | −CN¥85.4m | −CN¥30.0m | −CN¥23.0m | −CN¥12.9m | −CN¥110.7m | −CN¥39.5m |
| Diluted earnings per share | -0.01 | 0.01 | -0.21 | -0.07 | -0.06 | -0.03 | -0.27 | -0.10 |
| Cash from operations | — | — | — | CN¥16.0m | −CN¥52.0m | −CN¥52.0m | — | CN¥52.0m |
| Capital spending | −CN¥1.0m | −CN¥1.0m | −CN¥1.0m | — | — | −CN¥3.0m | — | −CN¥2.0m |
| Free cash flow | — | — | — | — | — | −CN¥55.0m | — | CN¥50.0m |
| Total assets | CN¥526.4m | CN¥516.0m | CN¥583.6m | CN¥684.7m | CN¥734.4m | CN¥755.5m | CN¥754.1m | CN¥908.6m |
| Cash and short-term investments | — | — | — | CN¥39.5m | CN¥75.0m | CN¥102.4m | CN¥158.5m | CN¥66.7m |
| Debt | CN¥9.4m | CN¥9.6m | CN¥9.6m | CN¥151.9m | CN¥145.9m | CN¥151.5m | CN¥139.9m | CN¥157.4m |
| Shareholders' equity | CN¥168.7m | CN¥171.0m | CN¥166.5m | CN¥254.0m | CN¥281.1m | CN¥301.0m | CN¥313.9m | CN¥425.0m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.0% | 9.2% | 15.4% | 3.7% | 8.4% | 7.5% |
| Operating margin | -23.3% | -25.5% | -11.3% | -44.7% | -35.5% | -44.6% |
| Net margin | -29.3% | -30.0% | -11.6% | -44.7% | -38.6% | -42.3% |
| Return on equity | -90.9% | -56.0% | -14.6% | -38.3% | -36.5% | -29.7% |
| Return on assets | -25.9% | -23.3% | -7.1% | -22.4% | -17.1% | -13.8% |
| Free cash flow yield | -2.9% | 4.1% | 1.1% | -2.3% | 5.0% | 0.7% |
| Revenue growth | -11.9% | -5.1% | 29.9% | 40.2% | -1.3% | -49.1% |
| Earnings growth | -14.0% | 145.8% | -66.3% | 62.3% | -9.8% | -705.1% |
| Current ratio | 0.90x | 1.14x | 1.43x | 1.70x | 1.36x | 1.48x |
| Debt to equity | 0.06x | 0.45x | 0.35x | 0.27x | 0.57x | 0.62x |
| Equity ratio | 28.5% | 41.6% | 48.8% | 58.5% | 46.9% | 46.5% |
| Interest coverage | -14.32x | -12.60x | -8.22x | -16.21x | -7.45x | -5.96x |
| R&D as a share of sales | 2.7% | 5.1% | 5.0% | 7.1% | 9.3% | 9.5% |
| Buybacks as a share of market value | 0.0% | 0.3% | 5.4% | -30.4% | -7.5% | 1.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.8% | 8.5% | -1.1% |
| Operating income | -27.0% | -11.6% | — |
| Net income | -10.7% | 0.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.5% | 10.9% | 10.2% | 20.9% |
| Operating margin | -21.0% | -24.0% | -27.8% | -8.8% |
| Net margin | -29.7% | -27.8% | -30.8% | -11.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -26.6 | -9.5 | -34.4 | -9.7 | -20.0 | -14.8 | 74.2 | 47.6 | 32.4 |
| Price to sales | 7.8 | 2.8 | 4.0 | 4.3 | 7.7 | 6.3 | 2.6 | 2.6 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jul 2020.
| FY2020 | FY2017 | |
|---|---|---|
| Paid in the year | 0.032 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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