H 
28.23
-0.07%
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¥312.3m
FY2016FY2025
Net income
−CN¥193.9m
FY2016FY2025
Free cash flow
CN¥24.9m
FY2016FY2025
Shareholders' equity
CN¥669.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥312.3m | CN¥157.6m | CN¥386.3m | CN¥391.5m | CN¥769.3m | CN¥611.6m | CN¥404.5m | CN¥361.2m | CN¥282.7m | CN¥193.6m |
| Gross profit | CN¥32.2m | CN¥16.9m | CN¥151.7m | CN¥194.0m | CN¥428.8m | CN¥365.8m | CN¥255.7m | CN¥209.1m | CN¥155.0m | CN¥95.4m |
| Research and development | CN¥70.8m | CN¥106.0m | CN¥130.3m | CN¥128.3m | CN¥86.4m | CN¥70.1m | CN¥57.7m | CN¥38.1m | CN¥19.9m | CN¥13.9m |
| Operating income | −CN¥156.3m | −CN¥220.9m | −CN¥109.1m | −CN¥86.9m | CN¥205.6m | CN¥186.9m | CN¥127.2m | CN¥112.9m | CN¥79.6m | CN¥33.4m |
| Net income | −CN¥193.9m | −CN¥237.8m | −CN¥100.8m | −CN¥64.9m | CN¥180.1m | CN¥162.1m | CN¥113.1m | CN¥93.1m | CN¥65.3m | CN¥46.6m |
| Diluted earnings per share | -1.31 | -1.69 | -0.75 | -0.43 | 1.18 | 1.09 | 1.04 | 0.63 | 0.44 | 0.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.61bn | CN¥1.73bn | CN¥2.00bn | CN¥2.21bn | CN¥1.76bn | CN¥1.51bn | CN¥696.0m | CN¥535.3m | CN¥382.9m | CN¥351.0m |
| Cash and short-term investments | — | CN¥381.1m | CN¥515.9m | CN¥690.7m | CN¥351.5m | CN¥592.5m | CN¥114.3m | CN¥167.4m | CN¥192.7m | CN¥169.8m |
| Total liabilities | CN¥934.5m | CN¥867.4m | CN¥823.9m | CN¥887.9m | CN¥460.2m | CN¥357.3m | CN¥249.6m | CN¥182.0m | CN¥104.7m | CN¥138.1m |
| Debt | CN¥528.5m | CN¥612.0m | CN¥506.8m | CN¥455.9m | CN¥21.8m | CN¥50.0m | CN¥7.0m | — | — | — |
| Shareholders' equity | CN¥669.3m | CN¥864.4m | CN¥1.17bn | CN¥1.32bn | CN¥1.30bn | CN¥1.15bn | CN¥446.4m | CN¥353.3m | CN¥278.3m | CN¥212.9m |
| Shares outstanding | 148m | 141m | 135m | 150m | 153m | 148m | 109m | 148m | 148m | 100m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥53.0m | −CN¥20.7m | −CN¥36.3m | −CN¥69.8m | −CN¥60.7m | −CN¥38.0m | CN¥23.6m | CN¥27.4m | CN¥53.2m | CN¥60.3m |
| Capital spending | −CN¥28.1m | −CN¥80.7m | −CN¥88.4m | −CN¥75.2m | −CN¥90.4m | −CN¥82.7m | −CN¥58.8m | −CN¥33.6m | −CN¥24.4m | −CN¥12.8m |
| Free cash flow | CN¥24.9m | −CN¥101.4m | −CN¥124.8m | −CN¥145.0m | −CN¥151.1m | −CN¥120.7m | −CN¥35.2m | −CN¥6.1m | CN¥28.8m | CN¥47.5m |
| Dividends paid | −CN¥8.4m | −CN¥33.3m | −CN¥31.0m | −CN¥44.1m | −CN¥24.5m | −CN¥24.5m | −CN¥20.0m | −CN¥18.0m | −CN¥18.0m | −CN¥18.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥87.7m | CN¥46.1m | CN¥171.5m | CN¥70.6m | CN¥57.3m | CN¥12.9m | CN¥83.3m | CN¥37.7m |
| Gross profit | CN¥12.1m | CN¥3.4m | CN¥20.7m | CN¥4.4m | CN¥7.1m | CN¥15,175 | CN¥4.5m | −CN¥2.5m |
| Operating income | −CN¥36.6m | −CN¥38.9m | −CN¥37.8m | −CN¥57.7m | −CN¥19.1m | −CN¥31.4m | −CN¥106.2m | −CN¥50.4m |
| Net income | −CN¥27.5m | −CN¥32.4m | −CN¥65.0m | −CN¥57.5m | −CN¥31.4m | −CN¥40.1m | −CN¥119.3m | −CN¥49.3m |
| Diluted earnings per share | -0.19 | -0.22 | -0.44 | -0.39 | -0.21 | -0.27 | -0.85 | -0.35 |
| Cash from operations | — | — | — | −CN¥51.0m | — | −CN¥16.0m | — | −CN¥72.0m |
| Capital spending | −CN¥1.0m | −CN¥2.0m | −CN¥2.0m | −CN¥3.0m | −CN¥4.0m | −CN¥17.0m | −CN¥28.0m | −CN¥27.0m |
| Free cash flow | — | — | — | −CN¥54.0m | — | −CN¥33.0m | — | −CN¥99.0m |
| Total assets | CN¥1.60bn | CN¥1.57bn | CN¥1.61bn | CN¥1.62bn | CN¥1.67bn | CN¥1.71bn | CN¥1.73bn | CN¥1.86bn |
| Cash and short-term investments | — | — | — | CN¥193.4m | CN¥251.2m | CN¥346.2m | CN¥381.1m | CN¥428.5m |
| Debt | CN¥542.2m | CN¥535.5m | CN¥528.5m | CN¥76.3m | CN¥587.1m | CN¥617.7m | CN¥602.8m | CN¥578.5m |
| Shareholders' equity | CN¥609.4m | CN¥636.9m | CN¥669.3m | CN¥610.0m | CN¥791.6m | CN¥824.5m | CN¥864.4m | CN¥983.7m |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 10.3% | 10.7% | 39.3% | 49.6% | 55.7% | 59.8% | — |
| Operating margin | -49.9% | -133.4% | -26.5% | -19.4% | 26.8% | 30.7% | — |
| Net margin | -62.1% | -150.9% | -26.1% | -16.6% | 23.4% | 26.5% | — |
| Return on equity | -29.0% | -27.5% | -8.6% | -4.9% | 13.8% | 14.0% | — |
| Return on assets | -12.1% | -13.7% | -5.1% | -2.9% | 10.2% | 10.7% | — |
| Free cash flow yield | 1.9% | 1.5% | 1.3% | 0.1% | 0.7% | 1.0% | — |
| Revenue growth | 98.2% | -59.2% | -1.3% | -49.1% | 25.8% | 51.2% | — |
| Earnings growth | -18.4% | 135.8% | 55.3% | -136.1% | 11.1% | 43.4% | — |
| Current ratio | 2.20x | 2.78x | 3.86x | 3.79x | 2.85x | 3.23x | — |
| Debt to equity | 0.79x | 0.70x | 0.43x | 0.33x | — | 0.08x | 0.02x |
| Equity ratio | 41.6% | 49.8% | 58.7% | 59.8% | 73.9% | 76.4% | — |
| Interest coverage | -3.90x | -6.20x | -6.19x | -6.12x | 133.28x | 182.64x | — |
| R&D as a share of sales | 22.7% | 67.3% | 33.7% | 32.8% | 11.2% | 11.5% | — |
| Buybacks as a share of market value | -4.9% | -4.8% | 10.2% | 2.0% | -2.9% | -36.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.3% | -12.6% | 8.4% |
| Operating income | 21.6% | — | — |
| Net income | 44.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.5% | 31.6% | 45.2% | 49.2% |
| Operating margin | -80.3% | -45.9% | -6.9% | 4.7% |
| Net margin | -91.9% | -47.9% | -9.7% | 2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -15.8 | -14.9 | -36.3 | -50.9 | 35.2 | 33.1 |
| Price to sales | 9.8 | 22.4 | 9.5 | 8.4 | 8.2 | 8.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.20 | 0.30 | 0.20 | 0.167 |
- 9-for-5 split · 10 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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