M 
20.32
-1.36%
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¥515.6m
FY2016FY2025
Net income
−CN¥35.0m
FY2016FY2025
Free cash flow
−CN¥101.2m
FY2016FY2025
Shareholders' equity
CN¥1.58bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥515.6m | CN¥470.4m | CN¥429.9m | CN¥525.9m | CN¥600.5m | CN¥501.4m | CN¥500.9m | CN¥539.3m | CN¥333.0m | CN¥176.9m |
| Research and development | CN¥106.7m | CN¥112.9m | CN¥155.7m | CN¥151.1m | CN¥128.4m | CN¥130.3m | CN¥124.5m | CN¥78.4m | CN¥47.2m | CN¥33.7m |
| Operating income | −CN¥29.6m | CN¥15.6m | −CN¥54.4m | CN¥38.5m | CN¥131.8m | CN¥79.6m | CN¥75.5m | CN¥275.7m | CN¥166.8m | CN¥32.7m |
| Net income | −CN¥35.0m | −CN¥64.8m | −CN¥49.9m | CN¥26.3m | CN¥114.1m | CN¥72.0m | CN¥76.0m | CN¥248.8m | CN¥146.8m | CN¥34.3m |
| Diluted earnings per share | -0.09 | -0.19 | -0.15 | 0.07 | 0.28 | 0.19 | 0.18 | 0.68 | 0.42 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.86bn | CN¥1.85bn | CN¥2.04bn | CN¥2.15bn | CN¥2.10bn | CN¥2.06bn | CN¥1.81bn | CN¥1.22bn | CN¥940.1m | CN¥761.2m |
| Cash and short-term investments | — | CN¥450.8m | CN¥769.5m | CN¥1.05bn | CN¥1.10bn | CN¥1.16bn | CN¥1.19bn | CN¥975.0m | CN¥796.6m | CN¥698.5m |
| Total liabilities | CN¥272.0m | CN¥272.8m | CN¥368.1m | CN¥415.4m | CN¥365.8m | CN¥350.1m | CN¥129.5m | CN¥88.6m | CN¥59.1m | CN¥26.5m |
| Debt | — | CN¥1.6m | CN¥153.8m | CN¥195.9m | CN¥91.7m | CN¥166.4m | — | CN¥22,352 | — | — |
| Shareholders' equity | CN¥1.58bn | CN¥1.57bn | CN¥1.62bn | CN¥1.68bn | CN¥1.69bn | CN¥1.68bn | CN¥1.67bn | CN¥1.13bn | CN¥881.1m | CN¥734.2m |
| Shares outstanding | 381m | 348m | 341m | 376m | 411m | 378m | 422m | 367m | 350m | 381m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥47.6m | CN¥18.9m | CN¥12.1m | CN¥68.3m | CN¥249.9m | CN¥44.9m | −CN¥10.8m | CN¥219.1m | CN¥121.8m | CN¥53.2m |
| Capital spending | −CN¥148.8m | −CN¥126.7m | −CN¥150.3m | −CN¥180.4m | −CN¥141.9m | −CN¥111.5m | −CN¥156.4m | −CN¥42.1m | −CN¥22.8m | −CN¥21.7m |
| Free cash flow | −CN¥101.2m | −CN¥107.8m | −CN¥138.2m | −CN¥112.0m | CN¥107.9m | −CN¥66.6m | −CN¥167.2m | CN¥176.9m | CN¥98.9m | CN¥31.5m |
| Dividends paid | — | −CN¥578,173 | −CN¥26.8m | −CN¥25.9m | −CN¥19.6m | −CN¥20.0m | −CN¥20.0m | −CN¥20.0m | −CN¥20.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥150.7m | CN¥121.0m | CN¥181.2m | CN¥115.9m | CN¥119.3m | CN¥99.2m | CN¥137.0m | CN¥116.3m |
| Operating income | −CN¥266,932 | −CN¥18.6m | CN¥27.9m | −CN¥24.1m | −CN¥13.8m | −CN¥25.0m | CN¥14.9m | CN¥960,706 |
| Net income | CN¥5.3m | −CN¥16.1m | CN¥19.2m | −CN¥22.3m | −CN¥15.4m | −CN¥16.5m | −CN¥71.1m | CN¥2.2m |
| Diluted earnings per share | 0.01 | -0.04 | 0.05 | -0.06 | -0.04 | -0.04 | -0.20 | 0.01 |
| Cash from operations | — | — | — | −CN¥13.0m | CN¥22.0m | −CN¥77.0m | CN¥102.0m | −CN¥6.0m |
| Capital spending | −CN¥27.0m | −CN¥22.0m | −CN¥48.0m | −CN¥28.0m | −CN¥23.0m | −CN¥47.0m | −CN¥69.0m | −CN¥12.0m |
| Free cash flow | — | — | — | −CN¥41.0m | −CN¥1.0m | −CN¥124.0m | CN¥33.0m | −CN¥18.0m |
| Total assets | CN¥1.81bn | CN¥1.80bn | CN¥1.86bn | CN¥1.77bn | CN¥1.75bn | CN¥1.76bn | CN¥1.85bn | CN¥1.80bn |
| Cash and short-term investments | — | — | — | CN¥329.9m | CN¥311.2m | CN¥326.0m | CN¥450.8m | CN¥454.3m |
| Debt | — | — | — | CN¥11.0m | CN¥1.1m | CN¥1.1m | CN¥1.4m | CN¥2.0m |
| Shareholders' equity | CN¥1.57bn | CN¥1.57bn | CN¥1.58bn | CN¥1.57bn | CN¥1.54bn | CN¥1.55bn | CN¥1.57bn | CN¥1.62bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -5.7% | 3.3% | -12.7% | 7.3% | 21.9% | 15.9% |
| Net margin | -6.8% | -13.8% | -11.6% | 5.0% | 19.0% | 14.4% |
| Return on equity | -2.2% | -4.1% | -3.1% | 1.6% | 6.8% | 4.3% |
| Return on assets | -1.9% | -3.5% | -2.4% | 1.2% | 5.4% | 3.5% |
| Free cash flow yield | 2.4% | 2.0% | 2.3% | 3.1% | 4.5% | 2.0% |
| Revenue growth | 9.6% | 9.4% | -18.3% | -12.4% | 19.8% | 0.1% |
| Earnings growth | -46.0% | 29.7% | -289.9% | -77.0% | 58.5% | -5.3% |
| Current ratio | 2.32x | 2.75x | 3.45x | 4.18x | 4.07x | 5.72x |
| Debt to equity | — | 0.00x | 0.09x | 0.12x | 0.05x | 0.10x |
| Equity ratio | 85.0% | 84.6% | 79.5% | 78.3% | 80.3% | 81.3% |
| Interest coverage | -118.64x | 44.06x | -650.86x | 1007.10x | 271.24x | 2083.32x |
| R&D as a share of sales | 20.7% | 24.0% | 36.2% | 28.7% | 21.4% | 26.0% |
| Buybacks as a share of market value | -9.3% | -2.2% | 9.2% | 8.6% | -8.7% | 10.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.7% | 0.6% | 20.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.4% | -1.5% | 6.0% | 15.8% |
| Net margin | -10.1% | -6.4% | 2.1% | 12.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -356.6 | -78.6 | -105.4 | 150.0 | 56.3 | 86.6 | 182.2 |
| Price to sales | 24.2 | 10.8 | 12.2 | 7.5 | 10.7 | 12.4 | 27.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Jul 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.05 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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