W 
22.49
-0.40%
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¥541.4m
FY2016FY2025
Net income
−CN¥231.3m
FY2016FY2025
Free cash flow
−CN¥127.1m
FY2016FY2025
Shareholders' equity
CN¥2.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥541.4m | CN¥649.0m | CN¥602.3m | CN¥688.6m | CN¥614.7m | CN¥524.1m | CN¥620.2m | CN¥590.9m | CN¥750.3m | CN¥771.0m |
| Research and development | CN¥88.2m | CN¥121.7m | CN¥128.9m | CN¥121.4m | CN¥103.2m | CN¥86.1m | CN¥62.6m | CN¥29.9m | CN¥24.5m | CN¥30.0m |
| Operating income | −CN¥121.8m | −CN¥75.7m | −CN¥143.1m | −CN¥6.8m | CN¥21.3m | −CN¥35.1m | CN¥75.1m | CN¥105.2m | CN¥156.5m | CN¥181.9m |
| Net income | −CN¥231.3m | −CN¥69.3m | −CN¥120.8m | −CN¥14.0m | CN¥27.7m | −CN¥25.0m | CN¥63.0m | CN¥94.1m | CN¥142.4m | CN¥157.1m |
| Diluted earnings per share | -1.77 | -0.55 | -0.85 | -0.10 | 0.24 | -0.25 | 0.61 | 0.89 | 4.10 | 2.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.58bn | CN¥2.94bn | CN¥2.97bn | CN¥2.71bn | CN¥2.70bn | CN¥2.19bn | CN¥2.17bn | CN¥2.16bn | CN¥1.91bn | CN¥1.04bn |
| Cash and short-term investments | — | CN¥868.8m | CN¥1.09bn | CN¥892.5m | CN¥698.4m | CN¥711.2m | CN¥1.18bn | CN¥307.1m | CN¥697.6m | CN¥608.0m |
| Total liabilities | CN¥407.1m | CN¥525.0m | CN¥475.7m | CN¥371.2m | CN¥354.5m | CN¥461.6m | CN¥409.0m | CN¥445.8m | CN¥265.6m | CN¥335.9m |
| Debt | — | CN¥24.1m | CN¥44.0m | CN¥102.7m | CN¥111.0m | CN¥6.5m | CN¥2.5m | CN¥2.5m | CN¥2.5m | CN¥2.5m |
| Shareholders' equity | CN¥2.16bn | CN¥2.39bn | CN¥2.48bn | CN¥2.31bn | CN¥2.32bn | CN¥1.71bn | CN¥1.75bn | CN¥1.70bn | CN¥1.64bn | CN¥696.8m |
| Shares outstanding | 131m | 126m | 142m | 134m | 115m | 101m | 104m | 106m | 35m | 77m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥76.5m | CN¥22.7m | CN¥5.3m | CN¥53.0m | CN¥12.1m | −CN¥19.7m | CN¥63.0m | CN¥73.4m | CN¥83.1m | CN¥143.9m |
| Capital spending | −CN¥50.5m | −CN¥43.1m | −CN¥167.4m | −CN¥174.0m | −CN¥247.1m | −CN¥113.6m | −CN¥116.2m | −CN¥38.7m | −CN¥22.3m | −CN¥22.1m |
| Free cash flow | −CN¥127.1m | −CN¥20.4m | −CN¥162.1m | −CN¥120.9m | −CN¥235.0m | −CN¥133.3m | −CN¥53.1m | CN¥34.8m | CN¥60.8m | CN¥121.8m |
| Dividends paid | −CN¥17.9m | −CN¥1.8m | −CN¥2.2m | −CN¥1.3m | −CN¥62,000 | −CN¥16.5m | −CN¥20.7m | −CN¥31.2m | −CN¥31.0m | −CN¥60.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥66.5m | CN¥159.0m | CN¥119.6m | CN¥146.8m | CN¥118.4m | CN¥156.7m | CN¥198.0m | CN¥166.4m |
| Operating income | −CN¥59.7m | −CN¥17.4m | −CN¥35.5m | −CN¥125.8m | −CN¥27.9m | −CN¥14.8m | −CN¥26.4m | −CN¥20.5m |
| Net income | −CN¥55.7m | −CN¥23.0m | −CN¥73.2m | −CN¥118.9m | −CN¥25.2m | −CN¥13.9m | −CN¥29.6m | −CN¥17.0m |
| Diluted earnings per share | -0.43 | -0.18 | -0.56 | -0.91 | -0.19 | -0.11 | -0.24 | -0.13 |
| Cash from operations | — | — | — | −CN¥17.0m | −CN¥8.0m | −CN¥48.0m | — | CN¥4.0m |
| Capital spending | −CN¥7.0m | −CN¥11.0m | −CN¥2.0m | −CN¥17.0m | −CN¥16.0m | −CN¥13.0m | −CN¥13.0m | −CN¥5.0m |
| Free cash flow | — | — | — | −CN¥34.0m | −CN¥24.0m | −CN¥61.0m | — | −CN¥1.0m |
| Total assets | CN¥2.47bn | CN¥2.54bn | CN¥2.58bn | CN¥2.64bn | CN¥2.77bn | CN¥2.82bn | CN¥2.94bn | CN¥2.94bn |
| Cash and short-term investments | — | — | — | CN¥695.8m | CN¥732.1m | CN¥754.3m | CN¥868.8m | CN¥877.6m |
| Debt | — | — | — | CN¥34.3m | CN¥26.8m | CN¥28.0m | CN¥18.7m | CN¥22.6m |
| Shareholders' equity | CN¥2.08bn | CN¥2.14bn | CN¥2.16bn | CN¥2.23bn | CN¥2.35bn | CN¥2.38bn | CN¥2.39bn | CN¥2.44bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -43.8% | -11.9% | -24.8% | -1.0% | 3.4% | -7.0% | — |
| Net margin | -42.7% | -10.7% | -20.1% | -2.0% | 4.5% | -4.8% | — |
| Return on equity | -10.7% | -2.9% | -4.9% | -0.6% | 1.2% | -1.5% | — |
| Return on assets | -9.0% | -2.4% | -4.1% | -0.5% | 1.0% | -1.1% | — |
| Free cash flow yield | -0.8% | 2.2% | 5.1% | 7.1% | 9.5% | 3.9% | — |
| Revenue growth | -16.6% | 7.8% | -12.5% | 12.0% | 17.3% | -15.5% | — |
| Earnings growth | 233.5% | -42.6% | 761.2% | -150.7% | -210.5% | -139.7% | — |
| Current ratio | 3.98x | 3.60x | 4.30x | 5.07x | 6.35x | 3.62x | — |
| Debt to equity | — | 0.01x | 0.01x | 0.03x | 0.04x | 0.00x | 0.00x |
| Equity ratio | 83.9% | 81.4% | 83.4% | 85.4% | 86.2% | 78.1% | — |
| Interest coverage | -170.73x | -25.66x | -52.39x | -4.16x | 19.80x | -35.97x | — |
| R&D as a share of sales | 16.3% | 18.8% | 21.4% | 17.6% | 16.8% | 16.4% | — |
| Buybacks as a share of market value | -3.8% | 11.3% | -6.2% | -16.4% | -13.4% | 2.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.7% | 0.7% | -2.2% |
| Operating income | 161.3% | 28.3% | — |
| Net income | 154.5% | 56.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -16.6% | -14.0% | -10.0% | 3.6% |
| Net margin | -25.3% | -17.5% | -12.0% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.7 | -43.3 | -42.4 | -337.4 | 247.3 | -165.5 | 49.5 | 30.6 | 13.3 |
| Price to sales | 6.7 | 4.6 | 8.5 | 6.9 | 11.1 | 7.9 | 5.0 | 4.9 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 9 Jan 2025.
| FY2024 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|
| Paid in the year | 0.13 | 0.16 | 0.20 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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