W 
5.81
-2.35%
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¥8.68bn
FY2016FY2025
Net income
−CN¥407.2m
FY2016FY2025
Free cash flow
−CN¥932.2m
FY2016FY2025
Shareholders' equity
CN¥578.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.68bn | CN¥11.77bn | CN¥15.53bn | CN¥14.79bn | CN¥10.02bn | CN¥4.66bn | CN¥2.49bn | CN¥2.39bn | CN¥1.96bn | CN¥1.60bn |
| Gross profit | CN¥228.6m | CN¥726.9m | CN¥802.9m | CN¥762.7m | CN¥660.8m | CN¥405.4m | CN¥356.1m | CN¥302.9m | CN¥252.3m | CN¥214.0m |
| Research and development | CN¥76.0m | CN¥79.8m | CN¥84.6m | CN¥49.7m | CN¥51.6m | CN¥56.4m | CN¥68.4m | CN¥11.6m | CN¥69.8m | CN¥539,650 |
| Operating income | −CN¥62.7m | CN¥69.5m | CN¥76.1m | CN¥308.8m | CN¥150.3m | CN¥122.2m | CN¥103.6m | CN¥122.9m | CN¥122.2m | CN¥79.3m |
| Net income | −CN¥407.2m | CN¥8.3m | CN¥8.0m | CN¥5.6m | CN¥36.8m | CN¥67.0m | CN¥87.8m | CN¥68.8m | CN¥78.8m | CN¥55.1m |
| Diluted earnings per share | -2.28 | 0.05 | 0.04 | 0.03 | 0.20 | 0.11 | 0.39 | 0.35 | 0.40 | 0.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥14.99bn | CN¥14.07bn | CN¥13.13bn | CN¥12.16bn | CN¥8.07bn | CN¥3.00bn | CN¥2.72bn | CN¥2.44bn | CN¥2.06bn | CN¥1.61bn |
| Cash and short-term investments | — | CN¥1.98bn | CN¥1.49bn | CN¥2.28bn | CN¥1.04bn | CN¥650.4m | CN¥483.0m | CN¥475.7m | CN¥459.5m | CN¥273.7m |
| Total liabilities | CN¥14.41bn | CN¥13.22bn | CN¥12.30bn | CN¥11.24bn | CN¥7.00bn | CN¥1.93bn | CN¥1.73bn | CN¥1.55bn | CN¥1.28bn | CN¥1.16bn |
| Debt | CN¥56.4m | CN¥803.3m | CN¥713.6m | CN¥826.5m | CN¥623.9m | CN¥404.5m | CN¥344.9m | CN¥438.8m | CN¥373.4m | CN¥265.5m |
| Shareholders' equity | CN¥578.1m | CN¥849.0m | CN¥821.7m | CN¥784.0m | CN¥854.5m | CN¥1.03bn | CN¥953.1m | CN¥861.6m | CN¥789.5m | CN¥450.1m |
| Shares outstanding | 178m | 160m | 181m | 167m | 183m | 600m | 226m | 199m | 198m | 158m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥929.0m | CN¥310.7m | −CN¥169.1m | CN¥1.66bn | CN¥285.3m | CN¥138.8m | CN¥83.8m | CN¥62.7m | −CN¥89.5m | CN¥83.5m |
| Capital spending | −CN¥3.2m | −CN¥8.4m | −CN¥15.5m | −CN¥208.8m | −CN¥8.3m | −CN¥15.7m | −CN¥10.3m | −CN¥57.9m | −CN¥48.0m | −CN¥13.3m |
| Free cash flow | −CN¥932.2m | CN¥302.3m | −CN¥184.6m | CN¥1.45bn | CN¥277.0m | CN¥123.0m | CN¥73.5m | CN¥4.8m | −CN¥137.5m | CN¥70.2m |
| Dividends paid | −CN¥174.9m | −CN¥115.3m | −CN¥213.1m | −CN¥5.6m | −CN¥7.3m | −CN¥14.6m | −CN¥16.7m | −CN¥37.7m | −CN¥16.5m | −CN¥11.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.30bn | CN¥1.15bn | CN¥2.56bn | CN¥2.11bn | CN¥2.37bn | CN¥1.64bn | CN¥2.23bn | CN¥1.86bn |
| Gross profit | CN¥93.4m | CN¥23.8m | −CN¥220.2m | CN¥141.2m | CN¥190.1m | CN¥117.6m | CN¥226.9m | CN¥135.2m |
| Operating income | CN¥28.1m | −CN¥34.2m | −CN¥301.8m | −CN¥19.6m | CN¥28.1m | CN¥53.1m | CN¥29.8m | CN¥20.3m |
| Net income | −CN¥76.6m | −CN¥45.6m | −CN¥397.3m | −CN¥20.4m | CN¥13.6m | −CN¥3.2m | −CN¥5.1m | CN¥3.4m |
| Diluted earnings per share | -0.43 | -0.26 | -2.23 | -0.11 | 0.08 | -0.02 | -0.03 | 0.02 |
| Cash from operations | — | — | — | −CN¥577.0m | CN¥557.0m | −CN¥870.0m | — | −CN¥270.0m |
| Capital spending | — | — | −CN¥1.0m | — | — | — | — | −CN¥5.0m |
| Free cash flow | — | — | — | — | — | — | — | −CN¥275.0m |
| Total assets | CN¥13.88bn | CN¥14.05bn | CN¥14.99bn | CN¥15.00bn | CN¥14.66bn | CN¥13.46bn | CN¥14.07bn | CN¥14.36bn |
| Cash and short-term investments | — | — | — | CN¥1.42bn | CN¥1.96bn | CN¥1.34bn | CN¥1.98bn | CN¥1.39bn |
| Debt | CN¥31.7m | CN¥58.6m | CN¥56.4m | CN¥1.81bn | CN¥1.21bn | CN¥1.08bn | CN¥767.9m | CN¥731.1m |
| Shareholders' equity | CN¥409.0m | CN¥537.0m | CN¥578.1m | CN¥860.1m | CN¥873.3m | CN¥846.2m | CN¥849.0m | CN¥891.7m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 2.6% | 6.2% | 5.2% | 5.2% | 6.6% | 8.7% |
| Operating margin | -3.3% | 1.6% | 1.8% | 2.1% | 3.3% | 3.0% |
| Net margin | -4.7% | 0.1% | 0.1% | 0.0% | 0.4% | 1.4% |
| Return on equity | -70.4% | 1.0% | 1.0% | 0.7% | 4.3% | 6.5% |
| Return on assets | -2.7% | 0.1% | 0.1% | 0.0% | 0.5% | 2.2% |
| Free cash flow yield | -89.6% | 34.3% | -14.6% | 193.4% | 27.6% | 4.4% |
| Revenue growth | -26.2% | -24.2% | 5.0% | 47.6% | 115.2% | 87.3% |
| Earnings growth | -5029.5% | 3.8% | 43.3% | -84.9% | -45.0% | -23.7% |
| Current ratio | 1.01x | 1.03x | 1.03x | 1.05x | 1.14x | 1.40x |
| Debt to equity | 0.10x | 0.90x | 0.81x | 0.93x | 0.61x | 0.39x |
| Equity ratio | 3.9% | 6.0% | 6.3% | 6.4% | 10.6% | 34.3% |
| Interest coverage | -1.76x | 1.45x | 1.31x | 1.71x | 1.81x | 2.23x |
| R&D as a share of sales | 0.9% | 0.7% | 0.5% | 0.3% | 0.5% | 1.2% |
| Buybacks as a share of market value | -11.1% | 11.3% | -8.7% | 9.1% | 69.5% | -165.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.3% | 13.3% | 20.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.7% | 5.0% | 5.5% | 6.5% |
| Operating margin | 0.0% | 0.8% | 1.0% | 1.5% |
| Net margin | -2.0% | -0.8% | -0.4% | 0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.7 | 184.8 | 261.2 | 237.4 | 45.4 | 81.8 | 26.8 | 27.8 | 32.9 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 1.2 | 0.9 | 0.8 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 6 Jun 2025.
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.01 | 0.027 | 0.035 | 0.07 | 0.08 | 0.067 |
- 3-for-2 split · 20 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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