H 
24.19
-2.14%
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¥606.2m
FY2017FY2025
Net income
−CN¥73.4m
FY2017FY2025
Free cash flow
−CN¥125.3m
FY2017FY2025
Shareholders' equity
CN¥826.2m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥606.2m | CN¥536.6m | CN¥566.4m | CN¥604.6m | CN¥590.9m | CN¥468.1m | CN¥464.8m | CN¥437.3m | CN¥333.7m |
| Research and development | CN¥69.9m | CN¥51.1m | CN¥38.1m | CN¥45.1m | CN¥37.1m | CN¥21.6m | CN¥26.1m | CN¥27.1m | CN¥23.5m |
| Operating income | −CN¥33.6m | −CN¥21.9m | CN¥19.5m | CN¥38.9m | CN¥67.4m | CN¥63.6m | CN¥106.2m | CN¥78.3m | CN¥55.2m |
| Net income | −CN¥73.4m | −CN¥27.6m | CN¥23.0m | CN¥40.2m | CN¥78.3m | CN¥53.3m | CN¥73.0m | CN¥70.7m | CN¥47.4m |
| Diluted earnings per share | -0.59 | -0.26 | 0.19 | 0.34 | 0.67 | 0.64 | 0.77 | 0.57 | 0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.85bn | CN¥2.79bn | CN¥2.45bn | CN¥2.07bn | CN¥1.21bn | CN¥804.4m | CN¥817.7m | CN¥615.1m | CN¥483.3m |
| Cash and short-term investments | — | CN¥141.2m | CN¥182.0m | CN¥453.4m | CN¥210.0m | CN¥29.0m | CN¥129.7m | CN¥65.1m | CN¥44.1m |
| Total liabilities | CN¥1.94bn | CN¥1.78bn | CN¥1.42bn | CN¥1.09bn | CN¥382.8m | CN¥264.6m | CN¥336.4m | CN¥206.8m | CN¥182.9m |
| Debt | CN¥974.2m | CN¥1.11bn | CN¥763.0m | CN¥770.3m | CN¥161.5m | CN¥139.8m | CN¥147.3m | CN¥80.9m | CN¥56.0m |
| Shareholders' equity | CN¥826.2m | CN¥923.1m | CN¥952.7m | CN¥928.1m | CN¥807.1m | CN¥534.5m | CN¥481.3m | CN¥408.3m | CN¥300.5m |
| Shares outstanding | 124m | 106m | 118m | 117m | 116m | 83m | 94m | 124m | 124m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥41.0m | −CN¥20.6m | CN¥68.1m | −CN¥24.0m | CN¥58.0m | CN¥13.5m | CN¥8.5m | −CN¥47.9m | −CN¥22.1m |
| Capital spending | −CN¥166.3m | −CN¥311.6m | −CN¥409.3m | −CN¥407.9m | −CN¥90.9m | −CN¥18.6m | −CN¥33.3m | −CN¥13.9m | −CN¥19.7m |
| Free cash flow | −CN¥125.3m | −CN¥332.2m | −CN¥341.1m | −CN¥432.0m | −CN¥32.9m | −CN¥5.1m | −CN¥24.8m | −CN¥61.8m | −CN¥41.7m |
| Dividends paid | −CN¥29.8m | −CN¥25.7m | −CN¥6.1m | −CN¥15.7m | −CN¥7.6m | −CN¥9.2m | −CN¥9.3m | −CN¥4.6m | −CN¥3.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥184.3m | CN¥161.9m | CN¥151.1m | CN¥152.7m | CN¥163.2m | CN¥139.2m | CN¥171.2m | CN¥131.6m |
| Operating income | −CN¥21.5m | CN¥15.8m | −CN¥32.3m | −CN¥30.6m | −CN¥5.7m | CN¥5.9m | −CN¥9.0m | −CN¥17.1m |
| Net income | −CN¥36.0m | CN¥3.2m | −CN¥40.9m | −CN¥21.3m | −CN¥12.2m | CN¥1.1m | −CN¥13.4m | −CN¥9.0m |
| Diluted earnings per share | -0.29 | 0.03 | -0.33 | -0.17 | -0.10 | 0.01 | -0.13 | -0.09 |
| Cash from operations | — | — | — | — | CN¥22.0m | −CN¥28.0m | −CN¥113.0m | CN¥59.0m |
| Capital spending | −CN¥9.0m | −CN¥26.0m | −CN¥25.0m | −CN¥25.0m | −CN¥33.0m | −CN¥82.0m | −CN¥17.0m | −CN¥151.0m |
| Free cash flow | — | — | — | — | −CN¥11.0m | −CN¥110.0m | −CN¥130.0m | −CN¥92.0m |
| Total assets | CN¥2.90bn | CN¥2.90bn | CN¥2.85bn | CN¥2.86bn | CN¥2.94bn | CN¥2.91bn | CN¥2.79bn | CN¥2.70bn |
| Cash and short-term investments | — | — | — | CN¥94.7m | CN¥133.8m | CN¥157.1m | CN¥141.2m | CN¥130.5m |
| Debt | CN¥979.0m | CN¥998.8m | CN¥974.2m | CN¥311.3m | CN¥1.19bn | CN¥1.30bn | CN¥1.11bn | CN¥994.7m |
| Shareholders' equity | CN¥794.6m | CN¥829.5m | CN¥826.2m | CN¥871.4m | CN¥909.3m | CN¥922.4m | CN¥923.1m | CN¥938.2m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -9.5% | -3.9% | 5.8% | 8.8% | 15.8% | 14.4% |
| Net margin | -12.1% | -5.1% | 4.1% | 6.7% | 13.3% | 11.4% |
| Return on equity | -8.9% | -3.0% | 2.4% | 4.3% | 9.7% | 10.0% |
| Return on assets | -2.6% | -1.0% | 0.9% | 1.9% | 6.5% | 6.6% |
| Free cash flow yield | 7.2% | 12.0% | 17.5% | 14.2% | 5.6% | 1.7% |
| Revenue growth | 13.0% | -5.3% | -6.3% | 2.3% | 26.2% | 0.7% |
| Earnings growth | 165.9% | -219.9% | -42.8% | -48.7% | 47.0% | -27.0% |
| Current ratio | 0.94x | 0.95x | 1.27x | 2.11x | 2.58x | 2.35x |
| Debt to equity | 1.18x | 1.20x | 0.80x | 0.82x | 0.18x | 0.26x |
| Equity ratio | 29.0% | 33.1% | 38.9% | 44.9% | 66.6% | 66.4% |
| Interest coverage | -1.20x | -0.84x | 2.41x | 3.64x | 13.33x | 9.33x |
| R&D as a share of sales | 11.5% | 9.5% | 6.7% | 7.5% | 6.3% | 4.6% |
| Buybacks as a share of market value | -17.6% | 10.6% | -0.8% | -0.8% | -40.2% | 12.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.1% | 5.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -33.4 | -61.9 | 118.2 | 78.8 | 61.0 |
| Price to sales | 4.0 | 3.2 | 4.8 | 5.2 | 8.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jun 2024.
| FY2024 | FY2022 | |
|---|---|---|
| Paid in the year | 0.016 | 0.136 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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