C 
6.90
-1.71%
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¥590.8m
FY2016FY2025
Net income
−CN¥395.0m
FY2016FY2025
Free cash flow
CN¥69.1m
FY2016FY2025
Shareholders' equity
CN¥402.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥590.8m | CN¥842.6m | CN¥1.17bn | CN¥1.18bn | CN¥1.30bn | CN¥1.04bn | CN¥933.9m | CN¥753.2m | CN¥670.4m | CN¥654.7m |
| Gross profit | CN¥58.0m | CN¥24.4m | CN¥294.9m | CN¥413.8m | CN¥440.3m | CN¥434.4m | CN¥390.0m | CN¥304.0m | CN¥273.9m | CN¥271.6m |
| Research and development | CN¥132.3m | CN¥146.7m | CN¥117.5m | CN¥115.2m | CN¥118.7m | CN¥116.8m | CN¥113.8m | CN¥94.0m | CN¥85.5m | CN¥85.1m |
| Operating income | — | −CN¥552.7m | −CN¥154.6m | CN¥14.3m | CN¥33.5m | CN¥58.2m | CN¥78.9m | CN¥62.6m | CN¥60.5m | CN¥59.6m |
| Net income | −CN¥395.0m | −CN¥534.6m | −CN¥123.0m | CN¥21.9m | CN¥37.4m | CN¥60.5m | CN¥49.5m | CN¥42.6m | CN¥40.1m | CN¥42.8m |
| Diluted earnings per share | -0.83 | -1.18 | -0.27 | 0.04 | 0.07 | 0.12 | 0.10 | 0.09 | 0.09 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.77bn | CN¥2.33bn | CN¥3.00bn | CN¥2.92bn | CN¥2.29bn | CN¥2.23bn | CN¥1.48bn | CN¥1.41bn | CN¥1.14bn | CN¥760.3m |
| Cash and short-term investments | — | CN¥246.2m | CN¥604.9m | CN¥416.1m | CN¥268.8m | CN¥438.0m | CN¥261.3m | CN¥407.3m | CN¥390.0m | CN¥202.0m |
| Total liabilities | CN¥1.36bn | CN¥1.52bn | CN¥1.85bn | CN¥1.63bn | CN¥1.12bn | CN¥1.10bn | CN¥720.6m | CN¥669.1m | CN¥456.9m | CN¥326.7m |
| Debt | CN¥809.0m | CN¥1.03bn | CN¥1.42bn | CN¥1.28bn | CN¥782.5m | CN¥739.8m | CN¥458.5m | CN¥445.1m | CN¥319.7m | CN¥239.0m |
| Shareholders' equity | CN¥402.9m | CN¥813.9m | CN¥1.10bn | CN¥1.24bn | CN¥1.12bn | CN¥1.10bn | CN¥750.5m | CN¥721.0m | CN¥678.2m | CN¥433.6m |
| Shares outstanding | 478m | 454m | 462m | 523m | 509m | 510m | 497m | 453m | 463m | 344m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥100.6m | CN¥50.5m | CN¥16.6m | −CN¥90.5m | −CN¥74.8m | −CN¥72.6m | −CN¥23.6m | −CN¥50.0m | −CN¥28.5m | −CN¥8.6m |
| Capital spending | −CN¥31.5m | −CN¥79.7m | −CN¥106.0m | −CN¥137.2m | −CN¥38.4m | −CN¥202.2m | −CN¥121.1m | −CN¥3.2m | −CN¥1.4m | −CN¥1.6m |
| Free cash flow | CN¥69.1m | −CN¥29.2m | −CN¥89.4m | −CN¥227.7m | −CN¥113.2m | −CN¥274.8m | −CN¥144.7m | −CN¥53.2m | −CN¥29.9m | −CN¥10.2m |
| Dividends paid | −CN¥33.1m | −CN¥39.5m | −CN¥38.6m | −CN¥41.5m | −CN¥9.3m | −CN¥7.5m | −CN¥7.0m | −CN¥20.3m | −CN¥14.6m | −CN¥13.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥75.8m | CN¥104.2m | CN¥172.1m | CN¥106.5m | CN¥136.6m | CN¥175.6m | CN¥115.5m | CN¥223.2m |
| Gross profit | CN¥8.2m | CN¥20.1m | −CN¥69.1m | CN¥29.3m | CN¥47.7m | CN¥50.0m | −CN¥208.3m | CN¥62.5m |
| Operating income | −CN¥42.7m | −CN¥21.6m | −CN¥218.5m | CN¥3.6m | CN¥1.9m | −CN¥7.6m | −CN¥535.9m | CN¥8.4m |
| Net income | −CN¥47.0m | −CN¥28.3m | −CN¥384.4m | −CN¥4.3m | −CN¥459,205 | −CN¥5.8m | −CN¥527.8m | −CN¥3.4m |
| Diluted earnings per share | -0.10 | -0.06 | -0.80 | -0.01 | -0.00 | -0.01 | -1.16 | -0.01 |
| Cash from operations | — | — | — | CN¥31.0m | CN¥12.0m | CN¥7.0m | — | −CN¥34.0m |
| Capital spending | — | −CN¥5.0m | −CN¥16.0m | −CN¥3.0m | −CN¥2.0m | −CN¥9.0m | −CN¥13.0m | −CN¥30.0m |
| Free cash flow | — | — | — | CN¥28.0m | CN¥10.0m | −CN¥2.0m | — | −CN¥64.0m |
| Total assets | CN¥1.71bn | CN¥1.75bn | CN¥1.77bn | CN¥2.27bn | CN¥2.29bn | CN¥2.33bn | CN¥2.33bn | CN¥2.93bn |
| Cash and short-term investments | — | — | — | CN¥178.0m | CN¥159.9m | CN¥204.7m | CN¥246.2m | CN¥108.6m |
| Debt | CN¥796.9m | CN¥811.6m | CN¥809.0m | CN¥147.6m | CN¥954.7m | CN¥995.4m | CN¥1.02bn | CN¥1.31bn |
| Shareholders' equity | CN¥329.9m | CN¥375.7m | CN¥402.9m | CN¥811.3m | CN¥816.4m | CN¥811.7m | CN¥813.9m | CN¥1.12bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.8% | 2.9% | 25.2% | 35.2% | 33.9% | 41.8% |
| Operating margin | -61.5% | -55.4% | -6.2% | 4.6% | 5.7% | 9.6% |
| Net margin | -66.8% | -63.4% | -10.5% | 1.9% | 2.9% | 5.8% |
| Return on equity | -98.0% | -65.7% | -11.2% | 1.8% | 3.3% | 5.5% |
| Return on assets | -22.4% | -23.0% | -4.1% | 0.7% | 1.6% | 2.7% |
| Free cash flow yield | 3.6% | 3.7% | 3.5% | 1.2% | -0.9% | 3.3% |
| Revenue growth | -29.9% | -27.9% | -0.6% | -9.4% | 25.0% | 11.2% |
| Earnings growth | -26.1% | 334.7% | -662.0% | -41.4% | -38.3% | 22.3% |
| Current ratio | 1.57x | 2.00x | 2.72x | 2.61x | 1.81x | 1.83x |
| Debt to equity | 2.01x | 1.26x | 1.28x | 1.00x | 0.67x | 0.64x |
| Equity ratio | 22.8% | 34.9% | 36.8% | 42.4% | 49.0% | 49.0% |
| Interest coverage | -10.74x | -7.71x | -1.16x | 1.16x | 1.78x | 2.59x |
| R&D as a share of sales | 22.4% | 17.4% | 10.1% | 9.8% | 9.1% | 11.2% |
| Buybacks as a share of market value | -5.4% | 1.8% | 11.7% | -2.9% | 0.3% | -2.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.5% | -10.7% | 1.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.8% | 20.9% | 27.2% | 32.5% |
| Net margin | -64.8% | -27.3% | -15.3% | -7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.4 | -14.7 | -53.1 | 312.7 | 288.7 | 127.9 | 170.5 | 65.5 | 72.9 |
| Price to sales | 14.3 | 9.3 | 5.6 | 5.8 | 8.3 | 7.5 | 9.0 | 3.7 | 4.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jul 2023.
| FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.02 | 0.017 | 0.016 | 0.015 |
- 3-for-2 split · 15 Jul 2021
- 3-for-2 split · 27 May 2019
- 1.496-for-1 split · 5 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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