A 
29.43
-1.18%
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¥932.3m
FY2016FY2025
Net income
−CN¥337.8m
FY2016FY2025
Free cash flow
−CN¥81.2m
FY2016FY2025
Shareholders' equity
CN¥1.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥932.3m | CN¥1.45bn | CN¥2.50bn | CN¥2.28bn | CN¥2.20bn | CN¥1.68bn | CN¥1.64bn | CN¥1.43bn | CN¥1.38bn | CN¥1.25bn |
| Research and development | CN¥157.3m | CN¥312.1m | CN¥301.4m | CN¥189.8m | CN¥142.3m | CN¥135.3m | CN¥98.0m | CN¥91.4m | CN¥81.1m | CN¥47.0m |
| Operating income | −CN¥317.1m | −CN¥293.4m | CN¥229.3m | CN¥294.6m | CN¥256.3m | CN¥184.4m | CN¥186.6m | CN¥216.9m | CN¥188.0m | CN¥159.7m |
| Net income | −CN¥337.8m | −CN¥540.0m | CN¥184.6m | CN¥290.7m | CN¥306.9m | CN¥225.6m | CN¥143.7m | CN¥208.2m | CN¥156.7m | CN¥137.3m |
| Diluted earnings per share | -0.76 | -1.20 | 0.47 | 0.79 | 0.73 | 0.51 | 0.34 | 0.47 | 0.43 | 0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.04bn | CN¥4.40bn | CN¥4.41bn | CN¥4.10bn | CN¥3.70bn | CN¥2.15bn | CN¥1.79bn | CN¥1.78bn | CN¥1.48bn | CN¥752.3m |
| Cash and short-term investments | — | CN¥473.7m | CN¥463.0m | CN¥717.8m | CN¥1.09bn | CN¥739.0m | CN¥745.8m | CN¥751.6m | CN¥85.0m | CN¥94.2m |
| Total liabilities | CN¥2.64bn | CN¥2.47bn | CN¥1.81bn | CN¥1.93bn | CN¥1.69bn | CN¥650.1m | CN¥454.2m | CN¥481.7m | CN¥373.4m | CN¥415.8m |
| Debt | CN¥1.37bn | CN¥1.61bn | CN¥736.0m | CN¥1.17bn | CN¥1.23bn | CN¥290.0m | CN¥197.6m | CN¥279.3m | CN¥250.9m | CN¥318.7m |
| Shareholders' equity | CN¥1.37bn | CN¥1.88bn | CN¥2.52bn | CN¥2.05bn | CN¥1.87bn | CN¥1.48bn | CN¥1.33bn | CN¥1.30bn | CN¥1.11bn | CN¥333.2m |
| Shares outstanding | 447m | 452m | 396m | 368m | 422m | 440m | 419m | 442m | 363m | 330m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥46.0m | −CN¥550.4m | CN¥458.1m | CN¥475.5m | CN¥438.1m | CN¥275.2m | CN¥280.6m | CN¥238.6m | CN¥141.3m | CN¥146.0m |
| Capital spending | −CN¥127.2m | −CN¥319.8m | −CN¥334.5m | −CN¥605.8m | −CN¥561.2m | −CN¥314.2m | −CN¥105.2m | −CN¥256.8m | −CN¥28.5m | −CN¥28.6m |
| Free cash flow | −CN¥81.2m | −CN¥870.2m | CN¥123.6m | −CN¥130.2m | −CN¥123.1m | −CN¥38.9m | CN¥175.4m | −CN¥18.2m | CN¥112.9m | CN¥117.5m |
| Dividends paid | −CN¥56.8m | −CN¥108.2m | −CN¥56.6m | −CN¥56.6m | −CN¥39.3m | −CN¥31.4m | −CN¥32.2m | −CN¥41.4m | −CN¥15.6m | −CN¥18.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥106.2m | CN¥385.5m | CN¥118.3m | CN¥230.2m | CN¥206.8m | CN¥377.0m | CN¥210.4m | CN¥327.3m |
| Operating income | −CN¥110.6m | CN¥23.6m | −CN¥79.2m | −CN¥56.2m | −CN¥145.9m | CN¥25.7m | −CN¥370.8m | −CN¥34.2m |
| Net income | −CN¥109.7m | CN¥594.4m | −CN¥201.7m | −CN¥62.5m | −CN¥130.1m | CN¥56.6m | −CN¥293.5m | −CN¥293.0m |
| Diluted earnings per share | -0.25 | 1.33 | -0.45 | -0.14 | -0.29 | 0.13 | -0.65 | -0.65 |
| Cash from operations | — | — | — | CN¥14.0m | −CN¥55.0m | CN¥39.0m | — | −CN¥396.0m |
| Capital spending | −CN¥7.0m | −CN¥14.0m | −CN¥56.0m | −CN¥13.0m | −CN¥27.0m | −CN¥29.0m | −CN¥48.0m | −CN¥81.0m |
| Free cash flow | — | — | — | CN¥1.0m | −CN¥82.0m | CN¥10.0m | — | −CN¥477.0m |
| Total assets | CN¥4.49bn | CN¥4.70bn | CN¥4.04bn | CN¥4.53bn | CN¥4.98bn | CN¥5.25bn | CN¥4.40bn | CN¥4.57bn |
| Cash and short-term investments | — | — | — | CN¥730.9m | CN¥672.8m | CN¥817.1m | CN¥473.7m | CN¥664.2m |
| Debt | CN¥1.22bn | CN¥1.17bn | CN¥1.37bn | CN¥591.1m | CN¥2.44bn | CN¥2.44bn | CN¥1.61bn | CN¥1.66bn |
| Shareholders' equity | CN¥1.85bn | CN¥1.94bn | CN¥1.37bn | CN¥1.75bn | CN¥1.81bn | CN¥1.94bn | CN¥1.88bn | CN¥2.18bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -33.4% | -20.2% | 9.2% | 12.9% | 11.7% | 11.0% |
| Net margin | -36.2% | -37.2% | 7.4% | 12.7% | 14.0% | 13.5% |
| Return on equity | -24.7% | -28.7% | 7.3% | 14.2% | 16.4% | 15.2% |
| Return on assets | -8.4% | -12.3% | 4.2% | 7.1% | 8.3% | 10.5% |
| Free cash flow yield | 1.2% | -1.5% | 6.0% | 8.8% | 7.1% | 4.0% |
| Revenue growth | -35.7% | -42.1% | 9.8% | 3.7% | 31.3% | 2.3% |
| Earnings growth | -37.4% | -392.5% | -36.5% | -5.3% | 36.0% | 57.0% |
| Current ratio | 0.97x | 0.73x | 0.91x | 1.17x | 1.30x | 2.17x |
| Debt to equity | 1.00x | 0.86x | 0.27x | 0.55x | 0.60x | 0.20x |
| Equity ratio | 33.9% | 42.7% | 57.3% | 50.0% | 50.6% | 69.2% |
| Interest coverage | -5.39x | -8.06x | 6.09x | 9.73x | 5.67x | 15.32x |
| R&D as a share of sales | 16.9% | 21.5% | 12.0% | 8.3% | 6.5% | 8.1% |
| Buybacks as a share of market value | 1.1% | -14.1% | -7.6% | 12.8% | 4.2% | -5.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.8% | -11.1% | -1.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -25.6% | -1.2% | 3.2% | 6.7% |
| Net margin | -36.8% | -5.6% | 1.2% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -44.4 | -14.3 | 63.9 | 29.2 | 32.9 | 29.0 | 41.5 | 21.0 | 30.8 |
| Price to sales | 16.1 | 5.3 | 4.7 | 3.7 | 4.6 | 3.9 | 3.6 | 3.1 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.21 | 0.20 | 0.133 | 0.093 | 0.074 | 0.074 | 0.056 |
- 3-for-2 split · 24 May 2023
- 9-for-5 split · 29 Apr 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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