Z 
31.71
+1.31%
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¥225.3m
FY2016FY2025
Net income
−CN¥227.3m
FY2016FY2025
Free cash flow
−CN¥81,741
FY2016FY2025
Shareholders' equity
CN¥910.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥225.3m | CN¥351.2m | CN¥519.6m | CN¥532.4m | CN¥633.0m | CN¥622.8m | CN¥641.8m | CN¥577.7m | CN¥406.5m | CN¥282.1m |
| Gross profit | CN¥70.0m | CN¥127.8m | CN¥261.9m | CN¥313.4m | CN¥428.6m | CN¥451.3m | CN¥474.0m | CN¥435.4m | CN¥282.2m | CN¥171.1m |
| Research and development | CN¥9.4m | CN¥14.2m | CN¥42.8m | CN¥39.3m | CN¥37.0m | CN¥20.4m | CN¥21.2m | CN¥16.4m | CN¥15.8m | CN¥14.4m |
| Operating income | −CN¥85.6m | −CN¥152.0m | CN¥2.8m | CN¥64.9m | CN¥99.1m | CN¥159.0m | CN¥147.1m | CN¥107.4m | CN¥104.9m | CN¥75.6m |
| Net income | −CN¥227.3m | −CN¥147.4m | −CN¥9.0m | CN¥48.8m | CN¥96.5m | CN¥135.8m | CN¥126.0m | CN¥87.8m | CN¥95.2m | CN¥80.9m |
| Diluted earnings per share | -1.57 | -1.01 | -0.05 | 0.35 | 0.68 | 2.87 | 1.16 | 0.61 | 0.66 | 0.56 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.25bn | CN¥1.65bn | CN¥2.05bn | CN¥1.91bn | CN¥1.69bn | CN¥1.63bn | CN¥875.9m | CN¥641.1m | CN¥479.7m | CN¥315.1m |
| Cash and short-term investments | — | CN¥254.0m | CN¥575.7m | CN¥162.7m | CN¥280.8m | CN¥595.2m | CN¥160.9m | CN¥83.2m | CN¥107.4m | CN¥92.7m |
| Total liabilities | CN¥327.5m | CN¥478.5m | CN¥639.2m | CN¥502.3m | CN¥284.3m | CN¥244.4m | CN¥356.0m | CN¥247.3m | CN¥173.7m | CN¥104.2m |
| Debt | CN¥90.0m | CN¥201.8m | CN¥425.0m | CN¥319.1m | CN¥82.3m | CN¥14.7m | CN¥164.9m | CN¥70.2m | CN¥28.5m | — |
| Shareholders' equity | CN¥910.4m | CN¥1.16bn | CN¥1.39bn | CN¥1.40bn | CN¥1.40bn | CN¥1.38bn | CN¥519.8m | CN¥393.8m | CN¥306.1m | CN¥210.9m |
| Shares outstanding | 145m | 146m | 164m | 140m | 142m | 47m | 108m | 145m | 145m | 145m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥67.1m | −CN¥27.2m | CN¥58.3m | CN¥146.6m | −CN¥67.7m | CN¥42.8m | CN¥112.8m | CN¥105.6m | CN¥29.0m | CN¥100.2m |
| Capital spending | −CN¥67.2m | −CN¥126.9m | −CN¥139.3m | −CN¥248.4m | −CN¥171.1m | −CN¥152.3m | −CN¥115.0m | −CN¥172.7m | −CN¥42.0m | −CN¥48.0m |
| Free cash flow | −CN¥81,741 | −CN¥154.1m | −CN¥81.0m | −CN¥101.9m | −CN¥238.8m | −CN¥109.5m | −CN¥2.2m | −CN¥67.2m | −CN¥13.0m | CN¥52.2m |
| Dividends paid | −CN¥28.4m | −CN¥44.4m | −CN¥7.0m | −CN¥43.4m | −CN¥80.4m | −CN¥7.8m | −CN¥5.7m | −CN¥1.4m | −CN¥17,696 | −CN¥133,304 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥56.5m | CN¥69.7m | CN¥74.0m | CN¥36.7m | CN¥44.8m | CN¥69.8m | −CN¥19.7m | CN¥73.9m |
| Gross profit | CN¥9.3m | CN¥41.4m | CN¥46.8m | CN¥3.2m | −CN¥15.9m | CN¥35.9m | −CN¥47.9m | CN¥22.7m |
| Operating income | −CN¥19.8m | CN¥12.9m | CN¥1.7m | −CN¥50.5m | −CN¥52.4m | −CN¥902,644 | −CN¥197.0m | CN¥34.5m |
| Net income | −CN¥24.0m | CN¥1.7m | −CN¥103.5m | −CN¥59.6m | −CN¥54.4m | −CN¥9.9m | −CN¥191.5m | CN¥29.9m |
| Diluted earnings per share | -0.17 | 0.01 | -0.71 | -0.41 | -0.38 | -0.07 | -1.31 | 0.21 |
| Cash from operations | — | — | — | −CN¥1.0m | CN¥50.0m | −CN¥6.0m | — | −CN¥15.0m |
| Capital spending | — | −CN¥8.0m | −CN¥38.0m | −CN¥6.0m | — | −CN¥21.0m | −CN¥30.0m | −CN¥34.0m |
| Free cash flow | — | — | — | −CN¥7.0m | — | −CN¥27.0m | — | −CN¥49.0m |
| Total assets | CN¥1.27bn | CN¥1.29bn | CN¥1.25bn | CN¥1.49bn | CN¥1.55bn | CN¥1.64bn | CN¥1.65bn | CN¥1.84bn |
| Cash and short-term investments | — | — | — | CN¥273.1m | CN¥283.0m | CN¥265.2m | CN¥254.0m | CN¥324.3m |
| Debt | CN¥3.9m | CN¥90.0m | CN¥90.0m | CN¥90.8m | CN¥270.3m | CN¥288.1m | CN¥196.6m | CN¥332.0m |
| Shareholders' equity | CN¥888.2m | CN¥912.2m | CN¥910.4m | CN¥1.01bn | CN¥1.07bn | CN¥1.15bn | CN¥1.16bn | CN¥1.35bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.1% | 36.4% | 50.4% | 58.9% | 67.7% | 72.5% |
| Operating margin | -89.8% | -42.4% | 0.5% | 12.9% | 16.2% | 25.5% |
| Net margin | -100.9% | -42.0% | -1.7% | 9.2% | 15.2% | 21.8% |
| Return on equity | -25.0% | -12.7% | -0.6% | 3.5% | 6.9% | 9.8% |
| Return on assets | -18.2% | -8.9% | -0.4% | 2.6% | 5.7% | 8.3% |
| Free cash flow yield | 3.3% | 2.4% | 4.3% | 10.0% | 2.6% | 14.6% |
| Revenue growth | -35.9% | -32.4% | -2.4% | -15.9% | 1.6% | -3.0% |
| Earnings growth | 54.2% | 1546.4% | -118.3% | -49.4% | -29.0% | 7.8% |
| Current ratio | 2.07x | 2.56x | 2.32x | 2.18x | 3.74x | 4.67x |
| Debt to equity | 0.10x | 0.17x | 0.30x | 0.22x | 0.07x | 0.02x |
| Equity ratio | 72.8% | 70.1% | 67.9% | 73.1% | 82.5% | 84.8% |
| Interest coverage | -32.23x | -15.83x | 0.29x | 12.33x | 45.40x | 509.90x |
| R&D as a share of sales | 4.2% | 4.0% | 8.2% | 7.4% | 5.8% | 3.3% |
| Buybacks as a share of market value | 0.7% | 10.8% | -16.9% | 1.3% | -199.7% | 56.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -24.9% | -18.4% | 0.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.3% | 47.5% | 57.3% | 62.8% |
| Operating margin | -41.2% | -10.4% | 3.1% | 11.6% |
| Net margin | -65.0% | -20.6% | -3.6% | 6.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -16.2 | -14.9 | -463.3 | 71.0 | 43.1 | 9.7 |
| Price to sales | 16.4 | 6.3 | 8.0 | 6.5 | 6.6 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 29 May 2025.
| FY2025 | FY2024 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.14 | 0.25 | 0.54 | 0.556 |
- 9-for-5 split · 17 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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