H 
128.50
-1.76%
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¥1.79bn
FY2016FY2025
Net income
−CN¥233.3m
FY2016FY2025
Free cash flow
−CN¥337.2m
FY2016FY2025
Shareholders' equity
CN¥3.79bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.79bn | CN¥1.98bn | CN¥4.23bn | CN¥3.60bn | CN¥2.32bn | CN¥730.9m | CN¥542.9m | CN¥400.1m | CN¥411.8m | CN¥489.0m |
| Research and development | CN¥597.1m | CN¥521.9m | CN¥525.8m | CN¥480.2m | CN¥303.1m | CN¥173.8m | CN¥118.0m | CN¥132.2m | CN¥116.7m | CN¥106.5m |
| Operating income | −CN¥255.0m | CN¥65.2m | CN¥82.1m | CN¥133.8m | CN¥272.7m | CN¥56.7m | CN¥80.4m | CN¥57.8m | CN¥39.5m | CN¥39.2m |
| Net income | −CN¥233.3m | CN¥97.2m | CN¥96.1m | CN¥151.9m | CN¥293.1m | CN¥70.9m | CN¥68.1m | CN¥56.2m | CN¥52.6m | CN¥51.1m |
| Diluted earnings per share | -1.07 | 0.45 | 0.44 | 0.81 | 1.62 | 0.38 | 0.23 | 0.32 | 0.30 | 0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.60bn | CN¥7.67bn | CN¥7.34bn | CN¥8.49bn | CN¥3.48bn | CN¥2.95bn | CN¥1.88bn | CN¥1.63bn | CN¥1.09bn | CN¥848.4m |
| Cash and short-term investments | — | CN¥1.56bn | CN¥1.51bn | CN¥1.19bn | CN¥344.0m | CN¥523.1m | CN¥478.9m | CN¥426.2m | CN¥527.7m | CN¥314.0m |
| Total liabilities | CN¥2.80bn | CN¥3.56bn | CN¥3.24bn | CN¥4.50bn | CN¥1.98bn | CN¥1.71bn | CN¥761.0m | CN¥621.5m | CN¥126.3m | CN¥138.7m |
| Debt | — | CN¥2.33bn | CN¥1.68bn | CN¥620.3m | CN¥820.3m | CN¥793.4m | CN¥559.5m | CN¥183.5m | — | — |
| Shareholders' equity | CN¥3.79bn | CN¥4.10bn | CN¥4.12bn | CN¥4.02bn | CN¥1.52bn | CN¥1.26bn | CN¥1.14bn | CN¥1.03bn | CN¥968.1m | CN¥711.3m |
| Shares outstanding | 217m | 214m | 217m | 187m | 181m | 188m | 296m | 175m | 177m | 133m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥126.9m | −CN¥47.7m | CN¥889.7m | CN¥545.7m | CN¥176.7m | CN¥132.0m | CN¥227.6m | −CN¥75.6m | CN¥88.5m | CN¥9.4m |
| Capital spending | −CN¥464.1m | −CN¥636.4m | −CN¥554.1m | −CN¥247.9m | −CN¥442.4m | −CN¥213.3m | −CN¥76.6m | −CN¥116.7m | −CN¥49.6m | −CN¥48.3m |
| Free cash flow | −CN¥337.2m | −CN¥684.1m | CN¥335.6m | CN¥297.9m | −CN¥265.7m | −CN¥81.3m | CN¥151.1m | −CN¥192.3m | CN¥38.9m | −CN¥38.8m |
| Dividends paid | −CN¥96.7m | −CN¥103.3m | −CN¥97.6m | −CN¥72.8m | −CN¥57.7m | −CN¥44.7m | −CN¥11.1m | −CN¥22.8m | −CN¥22.8m | −CN¥22.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥744.3m | CN¥633.3m | CN¥619.1m | CN¥430.6m | CN¥436.1m | CN¥305.3m | CN¥775.8m | CN¥351.3m |
| Operating income | CN¥127.2m | CN¥32.0m | −CN¥114.2m | −CN¥49.7m | −CN¥45.4m | CN¥50.1m | CN¥63.6m | CN¥29.6m |
| Net income | CN¥140.8m | CN¥54.9m | −CN¥240.7m | −CN¥12.7m | −CN¥31.4m | CN¥51.5m | CN¥27.1m | CN¥43.2m |
| Diluted earnings per share | 0.65 | 0.25 | -1.11 | -0.06 | -0.14 | 0.24 | 0.13 | 0.20 |
| Cash from operations | — | — | — | −CN¥155.0m | CN¥88.0m | CN¥31.0m | CN¥140.0m | CN¥133.0m |
| Capital spending | −CN¥115.0m | −CN¥47.0m | −CN¥159.0m | −CN¥137.0m | −CN¥111.0m | −CN¥55.0m | −CN¥46.0m | −CN¥443.0m |
| Free cash flow | — | — | — | −CN¥292.0m | −CN¥23.0m | −CN¥24.0m | CN¥94.0m | −CN¥310.0m |
| Total assets | CN¥6.68bn | CN¥6.94bn | CN¥6.60bn | CN¥7.64bn | CN¥7.52bn | CN¥7.69bn | CN¥7.67bn | CN¥7.76bn |
| Cash and short-term investments | — | — | — | CN¥1.82bn | CN¥1.71bn | CN¥1.82bn | CN¥1.56bn | CN¥1.39bn |
| Debt | — | — | — | CN¥2.69bn | CN¥2.02bn | CN¥2.29bn | CN¥2.15bn | CN¥2.14bn |
| Shareholders' equity | CN¥4.01bn | CN¥3.86bn | CN¥3.79bn | CN¥4.07bn | CN¥4.07bn | CN¥4.16bn | CN¥4.10bn | CN¥4.07bn |
Financial ratios
Data as of 19 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -14.2% | 3.3% | 1.9% | 3.7% | 11.7% | 7.8% | — |
| Net margin | -13.0% | 4.9% | 2.3% | 4.2% | 12.6% | 9.7% | — |
| Return on equity | -6.2% | 2.4% | 2.3% | 3.8% | 19.3% | 5.6% | — |
| Return on assets | -3.5% | 1.3% | 1.3% | 1.8% | 8.4% | 2.4% | — |
| Free cash flow yield | 1.6% | 1.6% | 3.8% | 2.4% | 2.0% | 1.1% | — |
| Revenue growth | -9.4% | -53.3% | 17.4% | 55.3% | 217.7% | 34.6% | — |
| Earnings growth | -340.1% | 1.1% | -36.7% | -48.2% | 313.6% | 4.0% | — |
| Current ratio | 1.62x | 1.67x | 1.33x | 1.30x | 1.17x | 1.21x | — |
| Debt to equity | — | 0.53x | 0.21x | 0.15x | 0.49x | 0.55x | 0.47x |
| Equity ratio | 57.4% | 53.5% | 56.1% | 47.3% | 43.6% | 42.7% | — |
| Interest coverage | -5.82x | 1.41x | 2.61x | 5.52x | 10.53x | 2.21x | — |
| R&D as a share of sales | 33.3% | 26.4% | 12.4% | 13.3% | 13.1% | 23.8% | — |
| Buybacks as a share of market value | -1.4% | 1.4% | -16.4% | -3.4% | 4.1% | 36.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.8% | 19.6% | 17.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -5.0% | 0.2% | 2.4% | 3.6% |
| Net margin | -3.6% | 1.0% | 3.2% | 4.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -100.3 | 147.3 | 133.3 | 104.6 | 114.3 | 116.4 | 176.8 | 71.2 | 136.5 |
| Price to sales | 13.1 | 7.2 | 3.0 | 4.4 | 14.4 | 11.3 | 22.2 | 10.0 | 17.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 16 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.30 | 0.30 | 0.30 | 0.40 | 0.32 | 0.10 | 0.062 | 0.094 |
- 1.594-for-1 split · 21 Jun 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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