S 
11.48
-1.80%
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¥402.3m
FY2016FY2025
Net income
−CN¥94.6m
FY2016FY2025
Free cash flow
−CN¥54.3m
FY2016FY2025
Shareholders' equity
CN¥462.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥402.3m | CN¥253.7m | CN¥270.7m | CN¥342.5m | CN¥255.3m | CN¥265.6m | CN¥289.4m | CN¥307.2m | CN¥380.5m | CN¥388.8m |
| Gross profit | CN¥71.5m | CN¥46.5m | CN¥54.3m | CN¥64.4m | CN¥68.1m | CN¥80.3m | CN¥86.2m | CN¥114.3m | CN¥153.0m | CN¥169.2m |
| Research and development | CN¥65.8m | CN¥64.1m | CN¥56.5m | CN¥53.3m | CN¥44.6m | CN¥52.5m | CN¥53.6m | CN¥37.6m | CN¥25.3m | CN¥25.9m |
| Operating income | −CN¥69.3m | −CN¥95.6m | −CN¥43.9m | −CN¥44.3m | CN¥2.9m | CN¥15.0m | −CN¥47.6m | CN¥11.8m | CN¥92.7m | CN¥89.5m |
| Net income | −CN¥94.6m | −CN¥89.7m | −CN¥40.8m | −CN¥60.7m | CN¥8.9m | CN¥28.4m | −CN¥21.4m | CN¥12.0m | CN¥84.2m | CN¥97.7m |
| Diluted earnings per share | -0.61 | -0.57 | -0.26 | -0.37 | 0.06 | 0.18 | -0.14 | 0.08 | 0.43 | 0.77 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥980.2m | CN¥1.02bn | CN¥962.4m | CN¥1.03bn | CN¥988.3m | CN¥926.2m | CN¥986.9m | CN¥984.7m | CN¥908.8m | CN¥348.4m |
| Cash and short-term investments | — | CN¥92.4m | CN¥84.3m | CN¥121.0m | CN¥251.5m | CN¥235.7m | CN¥273.0m | CN¥280.1m | CN¥419.0m | CN¥54.3m |
| Total liabilities | CN¥517.8m | CN¥457.6m | CN¥310.9m | CN¥357.6m | CN¥255.5m | CN¥205.9m | CN¥258.4m | CN¥230.0m | CN¥198.0m | CN¥106.8m |
| Debt | CN¥134.1m | CN¥127.7m | CN¥68.4m | CN¥32.5m | CN¥34.2m | CN¥18.0m | CN¥38.0m | CN¥52.1m | CN¥51.2m | CN¥6.2m |
| Shareholders' equity | CN¥462.7m | CN¥555.0m | CN¥647.6m | CN¥671.9m | CN¥729.2m | CN¥720.3m | CN¥696.1m | CN¥717.6m | CN¥710.9m | CN¥241.6m |
| Shares outstanding | 156m | 158m | 158m | 166m | 158m | 158m | 158m | 158m | 195m | 126m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥20.1m | CN¥787,791 | −CN¥6.9m | −CN¥27.7m | CN¥37.0m | CN¥40.0m | CN¥57.1m | −CN¥4.7m | CN¥716,017 | CN¥11.0m |
| Capital spending | −CN¥34.3m | −CN¥75.6m | −CN¥83.2m | −CN¥92.1m | −CN¥76.2m | −CN¥111.2m | −CN¥95.1m | −CN¥30.5m | −CN¥30.6m | −CN¥3.6m |
| Free cash flow | −CN¥54.3m | −CN¥74.8m | −CN¥90.1m | −CN¥119.8m | −CN¥39.2m | −CN¥71.2m | −CN¥38.0m | −CN¥35.2m | −CN¥29.9m | CN¥7.4m |
| Dividends paid | −CN¥5.0m | −CN¥4.0m | −CN¥2.5m | −CN¥1.9m | −CN¥1.7m | −CN¥3.1m | −CN¥3.0m | −CN¥6.3m | −CN¥6.3m | −CN¥6.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥81.5m | CN¥58.6m | CN¥100.8m | CN¥104.2m | CN¥114.7m | CN¥82.6m | CN¥84.3m | CN¥51.0m |
| Gross profit | CN¥14.7m | CN¥11.7m | CN¥15.6m | CN¥13.5m | CN¥19.8m | CN¥22.6m | CN¥7.2m | CN¥14.8m |
| Operating income | −CN¥18.6m | −CN¥18.8m | −CN¥20.4m | −CN¥21.0m | −CN¥17.2m | −CN¥9.9m | −CN¥41.4m | −CN¥22.6m |
| Net income | −CN¥21.9m | −CN¥19.2m | −CN¥49.9m | −CN¥18.9m | −CN¥16.5m | −CN¥9.4m | −CN¥39.8m | −CN¥20.8m |
| Diluted earnings per share | -0.14 | -0.12 | -0.32 | -0.12 | -0.11 | -0.06 | -0.25 | -0.13 |
| Cash from operations | — | — | — | CN¥29.0m | −CN¥9.0m | −CN¥3.0m | — | −CN¥2.0m |
| Capital spending | — | −CN¥5.0m | −CN¥3.0m | −CN¥9.0m | −CN¥13.0m | −CN¥7.0m | −CN¥13.0m | −CN¥27.0m |
| Free cash flow | — | — | — | CN¥20.0m | −CN¥22.0m | −CN¥10.0m | — | −CN¥29.0m |
| Total assets | CN¥985.3m | CN¥972.0m | CN¥980.2m | CN¥1.08bn | CN¥1.05bn | CN¥1.01bn | CN¥1.02bn | CN¥986.1m |
| Cash and short-term investments | — | — | — | CN¥116.0m | CN¥67.4m | CN¥84.1m | CN¥92.4m | CN¥82.0m |
| Debt | CN¥128.1m | CN¥124.5m | CN¥134.1m | CN¥110.9m | CN¥127.1m | CN¥129.1m | CN¥125.6m | CN¥124.7m |
| Shareholders' equity | CN¥422.4m | CN¥443.4m | CN¥462.7m | CN¥510.3m | CN¥529.2m | CN¥545.6m | CN¥555.0m | CN¥598.6m |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.8% | 18.3% | 20.1% | 18.8% | 26.7% | 30.2% |
| Operating margin | -26.1% | -37.4% | -16.0% | -12.4% | 1.9% | 5.9% |
| Net margin | -23.5% | -35.3% | -15.1% | -17.7% | 3.5% | 10.7% |
| Return on equity | -20.4% | -16.2% | -6.3% | -9.0% | 1.2% | 3.9% |
| Return on assets | -9.6% | -8.8% | -4.2% | -5.9% | 0.9% | 3.1% |
| Free cash flow yield | 0.7% | 3.7% | 3.7% | 3.0% | 5.5% | 7.4% |
| Revenue growth | 58.6% | -6.3% | -21.0% | 34.2% | -3.9% | -8.2% |
| Earnings growth | 5.5% | 119.9% | -32.8% | -779.2% | -68.5% | -232.5% |
| Current ratio | 1.21x | 1.27x | 1.74x | 1.70x | 2.83x | 3.36x |
| Debt to equity | 0.29x | 0.23x | 0.10x | 0.14x | 0.06x | 0.02x |
| Equity ratio | 47.2% | 54.2% | 67.3% | 64.9% | 73.8% | 77.8% |
| Interest coverage | -25.76x | -23.29x | -16.39x | -19.16x | 6.66x | 7.57x |
| R&D as a share of sales | 16.3% | 25.3% | 20.9% | 15.6% | 17.5% | 19.8% |
| Buybacks as a share of market value | 1.5% | -0.2% | 4.7% | -5.0% | -0.2% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.5% | 8.7% | 4.6% |
| Operating income | 16.0% | — | — |
| Net income | 15.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.0% | 18.7% | 21.5% | 30.1% |
| Operating margin | -25.1% | -19.9% | -13.1% | -0.9% |
| Net margin | -28.1% | -22.5% | -13.9% | -0.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -28.6 | -27.9 | -70.8 | -34.6 | 361.4 | 109.2 | -92.4 | 171.8 | 66.2 |
| Price to sales | 6.7 | 9.8 | 10.7 | 6.1 | 12.7 | 11.7 | 6.8 | 6.7 | 14.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Jun 2018.
| FY2018 | |
|---|---|
| Paid in the year | 0.034 |
- 11-for-10 split · 7 Jun 2021
- 3-for-2 split · 14 Jun 2019
- 9-for-5 split · 19 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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