F 
37.92
+0.08%
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¥1.43bn
FY2016FY2025
Net income
−CN¥55.1m
FY2016FY2025
Free cash flow
−CN¥58.2m
FY2016FY2025
Shareholders' equity
CN¥675.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.43bn | CN¥1.18bn | CN¥957.9m | CN¥694.8m | CN¥610.4m | CN¥354.0m | CN¥316.6m | CN¥256.0m | CN¥235.5m | CN¥174.6m |
| Gross profit | CN¥92.8m | CN¥61.4m | CN¥107.6m | CN¥99.8m | CN¥107.9m | CN¥73.4m | CN¥61.0m | CN¥56.2m | CN¥81.8m | CN¥65.3m |
| Research and development | CN¥51.7m | CN¥37.2m | CN¥27.5m | CN¥25.7m | CN¥24.1m | CN¥19.1m | CN¥15.1m | CN¥10.9m | CN¥10.7m | CN¥9.1m |
| Operating income | −CN¥52.2m | −CN¥12.4m | CN¥17.2m | CN¥21.4m | CN¥43.2m | CN¥7.8m | CN¥15.6m | CN¥31.1m | CN¥47.8m | CN¥40.0m |
| Net income | −CN¥55.1m | −CN¥25.3m | CN¥12.3m | CN¥14.1m | CN¥17.7m | CN¥5.9m | CN¥14.6m | CN¥27.7m | CN¥40.9m | CN¥36.0m |
| Diluted earnings per share | -0.36 | -0.25 | 0.14 | 0.08 | 0.10 | 0.09 | 0.07 | 0.21 | 0.29 | 0.34 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.97bn | CN¥1.90bn | CN¥1.69bn | CN¥1.42bn | CN¥1.26bn | CN¥1.01bn | CN¥711.0m | CN¥616.5m | CN¥548.1m | CN¥275.7m |
| Cash and short-term investments | — | CN¥341.1m | CN¥197.9m | CN¥183.0m | CN¥197.3m | CN¥98.9m | CN¥103.8m | CN¥89.9m | CN¥80.7m | CN¥23.1m |
| Total liabilities | CN¥1.26bn | CN¥1.16bn | CN¥906.9m | CN¥660.2m | CN¥462.1m | CN¥501.4m | CN¥269.2m | CN¥185.3m | CN¥140.3m | CN¥73.0m |
| Debt | CN¥65.1m | CN¥764.1m | CN¥648.5m | CN¥501.3m | CN¥344.1m | CN¥412.9m | CN¥225.3m | CN¥149.3m | CN¥108.8m | CN¥43.2m |
| Shareholders' equity | CN¥675.0m | CN¥724.9m | CN¥755.4m | CN¥741.4m | CN¥744.1m | CN¥442.9m | CN¥441.8m | CN¥431.2m | CN¥407.9m | CN¥202.8m |
| Shares outstanding | 152m | 101m | 85m | 185m | 181m | 64m | 203m | 131m | 139m | 104m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥12.9m | CN¥60.5m | −CN¥13.7m | −CN¥7.5m | CN¥31.8m | CN¥13.8m | CN¥11.8m | CN¥18.2m | CN¥8.3m | CN¥16.6m |
| Capital spending | −CN¥71.1m | −CN¥48.9m | −CN¥125.8m | −CN¥90.2m | −CN¥109.8m | −CN¥107.8m | −CN¥60.1m | −CN¥142.1m | −CN¥75.9m | −CN¥81.8m |
| Free cash flow | −CN¥58.2m | CN¥11.6m | −CN¥139.5m | −CN¥97.7m | −CN¥77.9m | −CN¥94.0m | −CN¥48.3m | −CN¥123.9m | −CN¥67.6m | −CN¥65.2m |
| Dividends paid | −CN¥17.8m | −CN¥20.0m | −CN¥19.6m | −CN¥1.5m | −CN¥1.4m | −CN¥4.2m | −CN¥4.2m | −CN¥10.9m | −CN¥3.9m | −CN¥1.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥357.0m | CN¥426.3m | CN¥334.1m | CN¥419.7m | CN¥372.0m | CN¥301.1m | CN¥253.7m | CN¥344.6m |
| Gross profit | CN¥50.1m | CN¥53.2m | CN¥39.0m | CN¥35.0m | CN¥1.5m | CN¥17.3m | −CN¥17.7m | CN¥28.1m |
| Operating income | CN¥24.2m | CN¥30.1m | CN¥4.2m | −CN¥3.5m | −CN¥31.9m | −CN¥4.0m | −CN¥34.4m | CN¥3.4m |
| Net income | CN¥19.4m | CN¥17.5m | −CN¥24.3m | −CN¥1.3m | −CN¥25.8m | −CN¥3.7m | −CN¥35.2m | CN¥4.9m |
| Diluted earnings per share | 0.13 | 0.12 | -0.16 | -0.01 | -0.17 | -0.02 | -0.35 | 0.05 |
| Cash from operations | — | — | — | −CN¥27.0m | CN¥32.0m | −CN¥33.0m | — | CN¥21.0m |
| Capital spending | −CN¥29.0m | −CN¥34.0m | — | −CN¥11.0m | −CN¥18.0m | −CN¥58.0m | −CN¥12.0m | −CN¥4.0m |
| Free cash flow | — | — | — | −CN¥38.0m | CN¥14.0m | −CN¥91.0m | — | CN¥17.0m |
| Total assets | CN¥2.12bn | CN¥2.04bn | CN¥1.97bn | CN¥2.09bn | CN¥1.91bn | CN¥1.93bn | CN¥1.90bn | CN¥1.84bn |
| Cash and short-term investments | — | — | — | CN¥408.8m | CN¥292.8m | CN¥334.9m | CN¥341.1m | CN¥294.4m |
| Debt | CN¥88.9m | CN¥110.4m | CN¥65.1m | CN¥985.4m | CN¥834.5m | CN¥741.3m | CN¥762.8m | CN¥801.4m |
| Shareholders' equity | CN¥710.9m | CN¥689.8m | CN¥675.0m | CN¥701.9m | CN¥707.6m | CN¥722.0m | CN¥724.9m | CN¥758.2m |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 6.5% | 5.2% | 11.2% | 14.4% | 17.7% | 20.7% |
| Operating margin | -3.6% | -0.9% | 3.6% | 5.3% | 7.2% | 6.2% |
| Net margin | -3.9% | -2.1% | 1.3% | 2.0% | 2.9% | 1.7% |
| Return on equity | -8.2% | -3.5% | 1.6% | 1.9% | 2.4% | 1.3% |
| Return on assets | -2.8% | -1.3% | 0.7% | 1.0% | 1.4% | 0.6% |
| Free cash flow yield | 1.3% | 2.6% | 3.1% | 1.1% | 1.9% | 4.5% |
| Revenue growth | 20.6% | 23.5% | 37.9% | 13.8% | 72.4% | 11.8% |
| Earnings growth | 117.5% | -306.4% | -12.9% | -20.3% | 201.1% | -60.0% |
| Current ratio | 1.10x | 1.10x | 1.17x | 1.27x | 1.74x | 1.14x |
| Debt to equity | 0.10x | 1.05x | 0.86x | 0.67x | 0.42x | 0.93x |
| Equity ratio | 34.3% | 38.1% | 44.8% | 52.1% | 58.9% | 43.8% |
| Interest coverage | -2.22x | -0.47x | 1.91x | 2.39x | 2.30x | 1.46x |
| R&D as a share of sales | 3.6% | 3.1% | 2.9% | 3.7% | 3.9% | 5.4% |
| Buybacks as a share of market value | -49.8% | -19.0% | 53.9% | -2.2% | -181.9% | 68.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.1% | 32.2% | 27.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.9% | 8.5% | 10.4% | 13.5% |
| Operating margin | -2.5% | -0.6% | 0.5% | 3.0% |
| Net margin | -3.1% | -1.3% | -0.6% | 1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -93.4 | -96.1 | 179.5 | 301.5 | 278.8 | 275.8 | 379.1 | 114.2 | 165.2 |
| Price to sales | 3.6 | 2.1 | 2.3 | 6.1 | 8.1 | 4.6 | 17.5 | 12.4 | 28.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jul 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.01 | 0.01 | 0.01 | 0.03 | 0.03 | 0.031 |
- 9-for-5 split · 4 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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