G 
14.27
+3.48%
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¥48.1m
FY2016FY2025
Net income
−CN¥221.4m
FY2016FY2025
Free cash flow
−CN¥32.1m
FY2016FY2025
Shareholders' equity
−CN¥163.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥48.1m | CN¥222.4m | CN¥1.17bn | CN¥1.28bn | CN¥1.90bn | CN¥1.93bn | CN¥2.60bn | CN¥1.09bn | CN¥757.7m | CN¥631.3m |
| Gross profit | −CN¥27.2m | −CN¥61.6m | CN¥47.1m | CN¥149.2m | CN¥123.3m | CN¥22.9m | CN¥237.4m | CN¥184.4m | CN¥166.8m | CN¥137.1m |
| Research and development | CN¥3.7m | CN¥13.7m | CN¥35.3m | CN¥40.5m | CN¥59.9m | CN¥59.2m | CN¥54.1m | CN¥36.3m | CN¥28.1m | CN¥20.1m |
| Operating income | −CN¥95.6m | −CN¥235.0m | −CN¥130.9m | CN¥7.7m | −CN¥239.4m | −CN¥412.2m | CN¥27.2m | CN¥60.8m | CN¥79.7m | CN¥74.6m |
| Net income | −CN¥221.4m | −CN¥118.6m | −CN¥138.6m | CN¥8.0m | −CN¥241.5m | −CN¥317.3m | CN¥26.0m | CN¥55.5m | CN¥61.6m | CN¥59.8m |
| Diluted earnings per share | -1.38 | -0.74 | -0.87 | 0.05 | -1.48 | -1.97 | 0.15 | 0.35 | 0.46 | 0.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥671.6m | CN¥872.9m | CN¥1.10bn | CN¥1.37bn | CN¥1.68bn | CN¥2.09bn | CN¥1.91bn | CN¥1.42bn | CN¥1.04bn | CN¥730.8m |
| Cash and short-term investments | — | CN¥11.0m | CN¥9.9m | CN¥167.6m | CN¥127.4m | CN¥236.2m | CN¥167.9m | CN¥154.5m | CN¥53.3m | CN¥110.3m |
| Total liabilities | CN¥1.01bn | CN¥866.4m | CN¥831.4m | CN¥1.01bn | CN¥1.35bn | CN¥1.49bn | CN¥977.2m | CN¥573.3m | CN¥246.5m | CN¥280.6m |
| Debt | — | CN¥171.9m | CN¥366.0m | CN¥479.5m | CN¥636.6m | CN¥852.8m | CN¥505.5m | CN¥377.1m | CN¥122.5m | CN¥208.7m |
| Shareholders' equity | −CN¥163.4m | CN¥28.0m | CN¥146.7m | CN¥289.7m | CN¥277.0m | CN¥512.2m | CN¥844.0m | CN¥828.6m | CN¥788.9m | CN¥449.1m |
| Shares outstanding | 160m | 160m | 160m | 157m | 163m | 161m | 169m | 157m | 135m | 121m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥31.7m | −CN¥14.6m | CN¥86.5m | CN¥85.5m | CN¥111.5m | −CN¥61.8m | CN¥50.2m | CN¥25.4m | CN¥35.0m | CN¥94.5m |
| Capital spending | −CN¥422,400 | −CN¥68.3m | −CN¥533.7m | −CN¥126.0m | −CN¥182.0m | −CN¥320.8m | −CN¥219.4m | −CN¥181.9m | −CN¥185.4m | −CN¥128.5m |
| Free cash flow | −CN¥32.1m | −CN¥82.9m | −CN¥447.1m | −CN¥40.5m | −CN¥70.5m | −CN¥382.5m | −CN¥169.2m | −CN¥156.5m | −CN¥150.4m | −CN¥34.1m |
| Dividends paid | −CN¥2.4m | −CN¥13.3m | −CN¥14.7m | −CN¥23.3m | −CN¥40.3m | −CN¥42.3m | −CN¥10.6m | −CN¥27.1m | −CN¥11.1m | −CN¥11.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.6m | CN¥17,060 | CN¥1.3m | CN¥573,344 | CN¥23.1m | CN¥23.1m | CN¥16.8m | CN¥59.9m |
| Gross profit | −CN¥3.5m | −CN¥3.3m | −CN¥12.2m | −CN¥2.0m | −CN¥6.0m | −CN¥7.1m | −CN¥40.6m | CN¥3.7m |
| Operating income | −CN¥31.0m | −CN¥15.8m | −CN¥23.1m | −CN¥31.2m | −CN¥31.8m | −CN¥27.0m | −CN¥88.4m | −CN¥41.9m |
| Net income | −CN¥60.7m | −CN¥15.1m | −CN¥162.6m | −CN¥22.0m | −CN¥20.1m | −CN¥16.7m | −CN¥49.2m | −CN¥22.4m |
| Diluted earnings per share | -0.38 | -0.09 | -1.02 | -0.14 | -0.13 | -0.10 | -0.31 | -0.14 |
| Cash from operations | — | — | — | −CN¥16.0m | −CN¥9.0m | −CN¥19.0m | −CN¥48.0m | −CN¥6.0m |
| Capital spending | — | — | — | — | — | — | −CN¥2.0m | — |
| Free cash flow | — | — | — | — | — | — | −CN¥50.0m | — |
| Total assets | CN¥686.9m | CN¥655.2m | CN¥671.6m | CN¥835.1m | CN¥809.0m | CN¥823.5m | CN¥872.9m | CN¥1.08bn |
| Cash and short-term investments | — | — | — | CN¥7.0m | CN¥9.2m | CN¥6.5m | CN¥11.0m | CN¥5.1m |
| Debt | CN¥60.0m | — | — | CN¥196.3m | CN¥111.3m | CN¥159.4m | CN¥159.4m | CN¥264.6m |
| Shareholders' equity | −CN¥239.2m | −CN¥178.5m | −CN¥163.4m | −CN¥1.1m | CN¥21.0m | CN¥11.3m | CN¥28.0m | CN¥77.2m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | -56.5% | -27.7% | 4.0% | 11.7% | 6.5% | 1.2% | — |
| Operating margin | -741.1% | -105.7% | -10.5% | 3.4% | -12.6% | -19.2% | — |
| Net margin | -460.5% | -53.4% | -11.9% | 0.6% | -12.7% | -16.5% | — |
| Return on equity | 135.5% | -423.4% | -94.5% | 2.8% | -87.2% | -62.0% | — |
| Return on assets | -33.0% | -13.6% | -12.6% | 0.6% | -14.3% | -15.2% | — |
| Free cash flow yield | -1.4% | 2.4% | 28.1% | 9.7% | 13.1% | 11.7% | — |
| Revenue growth | -78.4% | -80.9% | -8.7% | -32.9% | -1.3% | -25.9% | — |
| Earnings growth | 86.6% | -14.4% | -1838.1% | -103.3% | -23.9% | -1322.4% | — |
| Current ratio | 0.19x | 0.24x | 0.47x | 0.98x | 0.78x | 0.97x | — |
| Debt to equity | — | 5.69x | 2.43x | 1.26x | 2.19x | 2.03x | 0.58x |
| Equity ratio | -24.3% | 3.2% | 13.3% | 21.2% | 16.5% | 24.5% | — |
| Interest coverage | -15.37x | -9.20x | -4.02x | 1.17x | -5.37x | -9.23x | — |
| R&D as a share of sales | 7.7% | 6.2% | 3.0% | 3.2% | 3.1% | 3.1% | — |
| Buybacks as a share of market value | 0.0% | -0.0% | -1.7% | 3.3% | -1.1% | 4.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -66.5% | -52.2% | -21.2% |
| Operating income | — | -25.3% | — |
| Net income | — | -6.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -32.8% | 4.0% | 3.9% | 9.0% |
| Operating margin | -122.3% | -16.7% | -16.9% | -6.7% |
| Net margin | -125.7% | -17.3% | -15.7% | -6.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.7 | -16.7 | -13.4 | 271.5 | -6.2 | -4.3 | 67.7 | 31.7 | 37.9 |
| Price to sales | 39.8 | 8.9 | 1.6 | 1.7 | 0.8 | 0.7 | 0.7 | 1.6 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Jul 2020.
| FY2020 | FY2019 | FY2018 | |
|---|---|---|---|
| Paid in the year | 0.029 | 0.066 | 0.10 |
- 3-for-2 split · 29 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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