Z 
9.67
-2.42%
Close of 9 Nov 2026, in CNY
Search any instrument
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¥724.7m
FY2016FY2025
Net income
−CN¥104.3m
FY2016FY2025
Free cash flow
−CN¥64.6m
FY2016FY2025
Shareholders' equity
CN¥1.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥724.7m | CN¥785.2m | CN¥918.6m | CN¥644.2m | CN¥1.27bn | CN¥992.7m | CN¥602.8m | CN¥356.0m | CN¥281.1m | CN¥215.9m |
| Research and development | CN¥238.7m | CN¥221.2m | CN¥259.2m | CN¥403.6m | CN¥323.1m | CN¥166.4m | CN¥106.6m | CN¥70.4m | CN¥47.1m | CN¥32.0m |
| Operating income | −CN¥87.8m | −CN¥122.4m | −CN¥177.0m | −CN¥446.2m | CN¥127.2m | CN¥258.4m | CN¥139.2m | CN¥50.9m | CN¥52.3m | CN¥37.2m |
| Net income | −CN¥104.3m | −CN¥125.2m | −CN¥186.3m | −CN¥446.9m | CN¥116.9m | CN¥241.7m | CN¥124.9m | CN¥42.4m | CN¥48.6m | CN¥48.4m |
| Diluted earnings per share | -0.41 | -0.49 | -0.84 | -2.00 | 0.46 | 1.10 | 0.71 | 0.17 | 0.23 | 0.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.83bn | CN¥1.97bn | CN¥1.69bn | CN¥1.86bn | CN¥2.18bn | CN¥1.93bn | CN¥745.3m | CN¥593.3m | CN¥546.7m | CN¥238.8m |
| Cash and short-term investments | — | CN¥603.1m | CN¥367.9m | CN¥543.8m | CN¥682.9m | CN¥1.21bn | CN¥376.8m | CN¥318.5m | CN¥232.5m | CN¥107.5m |
| Total liabilities | CN¥578.5m | CN¥622.4m | CN¥707.0m | CN¥677.9m | CN¥499.6m | CN¥390.1m | CN¥170.2m | CN¥141.7m | CN¥135.9m | CN¥82.8m |
| Debt | — | CN¥280.5m | CN¥294.9m | CN¥360.2m | CN¥72.1m | CN¥101.9m | CN¥9.9m | CN¥18.1m | CN¥18.8m | CN¥6.0m |
| Shareholders' equity | CN¥1.25bn | CN¥1.35bn | CN¥982.6m | CN¥1.19bn | CN¥1.68bn | CN¥1.54bn | CN¥575.1m | CN¥451.6m | CN¥410.8m | CN¥156.0m |
| Shares outstanding | 257m | 257m | 221m | 223m | 256m | 219m | 175m | 252m | 214m | 152m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥61.3m | −CN¥62.7m | −CN¥20.4m | −CN¥345.9m | CN¥100.1m | CN¥172.7m | CN¥84.1m | CN¥10.2m | CN¥28.2m | CN¥19.9m |
| Capital spending | −CN¥125.8m | −CN¥163.9m | −CN¥127.0m | −CN¥87.8m | −CN¥464.4m | −CN¥78.2m | −CN¥13.0m | −CN¥8.5m | −CN¥10.1m | −CN¥6.6m |
| Free cash flow | −CN¥64.6m | −CN¥226.6m | −CN¥147.4m | −CN¥433.6m | −CN¥364.2m | CN¥94.5m | CN¥71.1m | CN¥1.8m | CN¥18.1m | CN¥13.3m |
| Dividends paid | −CN¥6.5m | −CN¥6.0m | −CN¥8.2m | −CN¥22.6m | −CN¥56.6m | −CN¥26.5m | −CN¥13.3m | −CN¥20.7m | −CN¥24.7m | −CN¥38.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥155.1m | CN¥58.3m | CN¥247.6m | CN¥181.2m | CN¥211.2m | CN¥84.7m | CN¥347.8m | CN¥152.6m |
| Operating income | −CN¥37.2m | −CN¥83.0m | CN¥61.1m | −CN¥45.0m | −CN¥22.0m | −CN¥86.3m | CN¥61.6m | −CN¥57.7m |
| Net income | −CN¥40.2m | −CN¥79.5m | CN¥45.7m | −CN¥43.7m | −CN¥20.2m | −CN¥86.1m | CN¥63.4m | −CN¥58.3m |
| Diluted earnings per share | -0.16 | -0.31 | 0.18 | -0.17 | -0.08 | -0.33 | 0.25 | -0.23 |
| Cash from operations | — | — | — | −CN¥14.0m | CN¥16.0m | −CN¥114.0m | CN¥164.0m | CN¥3.0m |
| Capital spending | −CN¥14.0m | −CN¥31.0m | −CN¥37.0m | −CN¥32.0m | −CN¥28.0m | −CN¥27.0m | −CN¥45.0m | −CN¥36.0m |
| Free cash flow | — | — | — | −CN¥46.0m | −CN¥12.0m | −CN¥141.0m | CN¥119.0m | −CN¥33.0m |
| Total assets | CN¥1.61bn | CN¥1.68bn | CN¥1.83bn | CN¥1.76bn | CN¥1.73bn | CN¥1.68bn | CN¥1.97bn | CN¥1.81bn |
| Cash and short-term investments | — | — | — | CN¥379.5m | CN¥368.4m | CN¥353.6m | CN¥603.1m | CN¥454.6m |
| Debt | — | — | — | CN¥271.7m | CN¥197.0m | CN¥182.6m | CN¥278.1m | CN¥269.9m |
| Shareholders' equity | CN¥1.13bn | CN¥1.17bn | CN¥1.25bn | CN¥1.20bn | CN¥1.24bn | CN¥1.26bn | CN¥1.35bn | CN¥1.29bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -14.0% | -15.2% | -18.9% | -67.8% | 9.9% | 25.7% | — | — | — |
| Net margin | -14.4% | -15.9% | -20.3% | -69.4% | 9.2% | 24.4% | — | — | — |
| Return on equity | -8.4% | -9.3% | -19.0% | -37.7% | 7.0% | 15.7% | — | — | — |
| Return on assets | -5.7% | -6.3% | -11.0% | -24.0% | 5.4% | 12.5% | — | — | — |
| Free cash flow yield | 6.8% | 3.7% | 4.5% | -10.9% | 20.7% | 10.8% | — | — | — |
| Revenue growth | -7.7% | -14.5% | 42.6% | -49.3% | 27.9% | 64.7% | — | — | — |
| Earnings growth | -16.6% | -32.8% | -58.3% | -482.4% | -51.7% | 93.5% | — | — | — |
| Current ratio | 1.88x | 2.00x | 1.42x | 1.85x | 3.29x | 4.65x | — | — | — |
| Debt to equity | — | 0.21x | 0.29x | 0.25x | — | — | 0.07x | 0.06x | 0.08x |
| Equity ratio | 68.3% | 68.4% | 58.2% | 63.6% | 77.0% | 79.8% | — | — | — |
| Interest coverage | -14.30x | -13.79x | -13.14x | -65.82x | 39.49x | 2037.32x | — | — | — |
| R&D as a share of sales | 32.9% | 28.2% | 28.2% | 62.7% | 25.4% | 16.8% | — | — | — |
| Buybacks as a share of market value | -0.2% | -16.1% | 0.9% | 12.9% | -16.8% | -25.4% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.0% | -6.1% | 13.3% |
| Operating income | -41.8% | — | — |
| Net income | -38.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -13.9% | -27.1% | -8.4% | -2.0% |
| Net margin | -15.2% | -28.1% | -9.4% | -2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -37.9 | -33.2 | -26.4 | -13.3 | 99.4 | 44.5 | 56.0 | 73.5 | 69.2 |
| Price to sales | 5.5 | 5.3 | 5.3 | 9.2 | 9.2 | 10.8 | 11.6 | 8.8 | 12.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 May 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.25 | 0.125 | 0.063 | 0.098 |
- 8-for-5 split · 15 May 2020
- 8-for-5 split · 7 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.