B 
21.26
+2.21%
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¥1.19bn
FY2016FY2025
Net income
−CN¥195.4m
FY2016FY2025
Free cash flow
−CN¥521.5m
FY2016FY2025
Shareholders' equity
CN¥2.31bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.19bn | CN¥921.7m | CN¥1.47bn | CN¥1.71bn | CN¥1.48bn | CN¥842.6m | CN¥772.3m | CN¥476.6m | CN¥346.2m | CN¥348.6m |
| Gross profit | CN¥456.8m | CN¥114.4m | CN¥646.8m | CN¥809.7m | CN¥696.3m | CN¥402.3m | CN¥316.0m | CN¥202.8m | CN¥156.0m | CN¥165.7m |
| Research and development | CN¥402.4m | CN¥397.8m | CN¥332.3m | CN¥259.7m | CN¥200.6m | CN¥122.9m | CN¥121.0m | CN¥82.4m | CN¥69.5m | CN¥65.9m |
| Operating income | −CN¥171.3m | −CN¥463.1m | CN¥110.3m | CN¥345.3m | CN¥320.4m | CN¥155.9m | CN¥75.5m | CN¥36.8m | CN¥38.5m | CN¥50.0m |
| Net income | −CN¥195.4m | −CN¥500.8m | CN¥96.8m | CN¥283.0m | CN¥273.7m | CN¥123.3m | CN¥62.2m | CN¥35.8m | CN¥35.6m | CN¥44.1m |
| Diluted earnings per share | -0.36 | -0.93 | 0.18 | 0.53 | 0.57 | 0.26 | 0.13 | 0.08 | 0.08 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.24bn | CN¥4.28bn | CN¥4.62bn | CN¥4.47bn | CN¥2.57bn | CN¥1.67bn | CN¥1.42bn | CN¥1.34bn | CN¥756.8m | CN¥571.0m |
| Cash and short-term investments | — | CN¥728.0m | CN¥1.07bn | CN¥1.37bn | CN¥235.2m | CN¥124.6m | CN¥169.2m | CN¥174.6m | CN¥131.6m | CN¥66.6m |
| Total liabilities | CN¥1.77bn | CN¥1.65bn | CN¥1.38bn | CN¥1.27bn | CN¥1.23bn | CN¥685.4m | CN¥593.4m | CN¥604.0m | CN¥200.7m | CN¥210.2m |
| Debt | CN¥642.6m | CN¥886.7m | CN¥838.6m | CN¥684.0m | CN¥618.1m | CN¥375.4m | CN¥359.1m | CN¥385.7m | CN¥117.0m | CN¥131.1m |
| Shareholders' equity | CN¥2.31bn | CN¥2.46bn | CN¥3.00bn | CN¥2.98bn | CN¥1.13bn | CN¥793.2m | CN¥656.2m | CN¥587.1m | CN¥556.1m | CN¥360.8m |
| Shares outstanding | 540m | 540m | 537m | 538m | 484m | 482m | 474m | 471m | 471m | 347m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥65.2m | −CN¥30.4m | CN¥37.6m | −CN¥303.2m | −CN¥65.1m | CN¥16.4m | CN¥66.9m | CN¥90.2m | −CN¥20.4m | CN¥17.0m |
| Capital spending | −CN¥456.2m | −CN¥326.5m | −CN¥283.1m | −CN¥243.2m | −CN¥85.3m | −CN¥73.5m | −CN¥24.3m | −CN¥65.9m | −CN¥62.8m | −CN¥89.6m |
| Free cash flow | −CN¥521.5m | −CN¥356.9m | −CN¥245.5m | −CN¥546.4m | −CN¥150.3m | −CN¥57.1m | CN¥42.6m | CN¥24.3m | −CN¥83.3m | −CN¥72.6m |
| Dividends paid | −CN¥36.9m | −CN¥82.3m | −CN¥49.7m | −CN¥27.9m | −CN¥10.8m | −CN¥8.3m | −CN¥5.9m | −CN¥16.6m | −CN¥13.8m | −CN¥3.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥400.5m | CN¥323.7m | CN¥259.5m | CN¥376.8m | CN¥318.6m | CN¥233.2m | CN¥239.7m | CN¥193.4m |
| Gross profit | CN¥177.2m | CN¥120.3m | CN¥85.0m | CN¥156.1m | CN¥104.5m | CN¥101.8m | −CN¥172.8m | CN¥78.5m |
| Operating income | CN¥12.3m | −CN¥30.1m | −CN¥79.4m | CN¥7.5m | −CN¥47.8m | −CN¥38.9m | −CN¥337.5m | −CN¥66.6m |
| Net income | −CN¥31.3m | −CN¥43.1m | −CN¥105.6m | CN¥5.3m | −CN¥51.4m | −CN¥43.7m | −CN¥363.2m | −CN¥69.6m |
| Diluted earnings per share | -0.06 | -0.08 | -0.20 | 0.01 | -0.10 | -0.08 | -0.67 | -0.13 |
| Cash from operations | — | — | — | −CN¥57.0m | −CN¥13.0m | −CN¥55.0m | — | −CN¥22.0m |
| Capital spending | −CN¥135.0m | −CN¥45.0m | −CN¥95.0m | −CN¥79.0m | −CN¥70.0m | −CN¥210.0m | −CN¥113.0m | −CN¥70.0m |
| Free cash flow | — | — | — | −CN¥136.0m | −CN¥83.0m | −CN¥265.0m | — | −CN¥92.0m |
| Total assets | CN¥4.41bn | CN¥4.32bn | CN¥4.24bn | CN¥4.38bn | CN¥4.41bn | CN¥4.44bn | CN¥4.28bn | CN¥4.43bn |
| Cash and short-term investments | — | — | — | CN¥501.2m | CN¥687.9m | CN¥645.2m | CN¥728.0m | CN¥687.4m |
| Debt | CN¥711.1m | CN¥758.6m | CN¥642.6m | CN¥558.1m | CN¥890.3m | CN¥1.04bn | CN¥865.4m | CN¥745.4m |
| Shareholders' equity | CN¥2.32bn | CN¥2.29bn | CN¥2.31bn | CN¥2.39bn | CN¥2.38bn | CN¥2.42bn | CN¥2.46bn | CN¥2.81bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 38.4% | 12.4% | 44.1% | 47.3% | 47.1% | 47.7% |
| Operating margin | -14.1% | -50.2% | 7.5% | 20.2% | 21.7% | 18.5% |
| Net margin | -16.4% | -54.3% | 6.6% | 16.5% | 18.5% | 14.6% |
| Return on equity | -8.5% | -20.3% | 3.2% | 9.5% | 24.3% | 15.5% |
| Return on assets | -4.6% | -11.7% | 2.1% | 6.3% | 10.7% | 7.4% |
| Free cash flow yield | 2.5% | 1.9% | 2.1% | -0.4% | 0.1% | 0.6% |
| Revenue growth | 28.9% | -37.2% | -14.4% | 16.0% | 75.4% | 9.1% |
| Earnings growth | -61.0% | -617.2% | -65.8% | 3.4% | 122.0% | 98.1% |
| Current ratio | 2.43x | 2.82x | 3.09x | 3.15x | 1.65x | 2.01x |
| Debt to equity | 0.28x | 0.35x | 0.22x | 0.17x | 0.45x | 0.43x |
| Equity ratio | 54.3% | 57.5% | 65.1% | 66.6% | 43.8% | 47.5% |
| Interest coverage | -4.44x | -13.78x | 3.95x | 9.94x | 13.30x | 7.59x |
| R&D as a share of sales | 33.9% | 43.2% | 22.7% | 15.2% | 13.6% | 14.6% |
| Buybacks as a share of market value | 0.0% | -0.5% | 0.2% | -11.1% | -0.4% | -1.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.5% | 7.1% | 14.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.1% | 38.3% | 41.1% | 41.7% |
| Operating margin | -30.1% | -3.4% | 3.9% | 5.4% |
| Net margin | -33.0% | -6.0% | 1.1% | 3.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -82.2 | -12.1 | 81.9 | 62.1 | 52.9 | 40.4 | 47.5 | 52.6 | 69.4 |
| Price to sales | 13.5 | 6.6 | 5.4 | 10.3 | 9.8 | 5.9 | 3.8 | 4.0 | 7.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.12 | 0.081 | 0.022 | 0.017 | 0.012 | 0.012 | 0.017 |
- 13-for-10 split · 26 May 2023
- 7-for-5 split · 7 Jun 2022
- 8-for-5 split · 11 Jun 2021
- 7-for-5 split · 18 Jun 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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