Z 
15.72
+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¥2.37bn
FY2016FY2025
Net income
−CN¥112.4m
FY2016FY2025
Free cash flow
−CN¥186.9m
FY2016FY2025
Shareholders' equity
CN¥5.26bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.37bn | CN¥2.46bn | CN¥2.11bn | CN¥1.57bn | CN¥4.91bn | CN¥4.78bn | CN¥1.17bn | CN¥967.5m | CN¥951.2m | CN¥710.1m |
| Gross profit | CN¥487.8m | CN¥273.8m | CN¥98.3m | CN¥18.9m | CN¥2.88bn | CN¥3.38bn | CN¥219.3m | CN¥165.8m | CN¥180.4m | CN¥124.0m |
| Research and development | CN¥51.1m | CN¥49.7m | CN¥31.6m | CN¥8.8m | CN¥21.8m | CN¥11.6m | CN¥9.3m | CN¥9.2m | CN¥1.9m | CN¥1.4m |
| Operating income | −CN¥53.3m | −CN¥65.7m | −CN¥136.9m | −CN¥11.0m | CN¥2.79bn | CN¥3.19bn | CN¥106.2m | CN¥70.4m | CN¥86.3m | CN¥48.3m |
| Net income | −CN¥112.4m | −CN¥87.1m | −CN¥130.9m | CN¥66.9m | CN¥2.34bn | CN¥2.66bn | CN¥89.3m | CN¥56.7m | CN¥65.0m | CN¥38.2m |
| Diluted earnings per share | -0.27 | -0.19 | -0.32 | 0.15 | 5.47 | 8.28 | 0.26 | 0.45 | 0.20 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.44bn | CN¥7.23bn | CN¥7.06bn | CN¥6.82bn | CN¥7.15bn | CN¥3.67bn | CN¥1.08bn | CN¥974.9m | CN¥697.7m | CN¥628.9m |
| Cash and short-term investments | — | CN¥2.33bn | CN¥2.93bn | CN¥3.03bn | CN¥4.41bn | CN¥1.56bn | CN¥71.0m | CN¥31.7m | CN¥66.1m | CN¥66.4m |
| Total liabilities | CN¥2.02bn | CN¥1.61bn | CN¥1.14bn | CN¥684.1m | CN¥597.6m | CN¥1.12bn | CN¥608.3m | CN¥598.8m | CN¥377.8m | CN¥373.6m |
| Debt | CN¥218.8m | CN¥730.3m | CN¥492.1m | CN¥67.1m | CN¥17.2m | CN¥107.4m | CN¥329.6m | CN¥302.5m | CN¥170.0m | CN¥174.3m |
| Shareholders' equity | CN¥5.26bn | CN¥5.47bn | CN¥5.77bn | CN¥6.12bn | CN¥6.55bn | CN¥2.56bn | CN¥467.7m | CN¥378.2m | CN¥321.2m | CN¥256.7m |
| Shares outstanding | 423m | 459m | 410m | 447m | 428m | 322m | 342m | 125m | 324m | 322m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.7m | CN¥183.9m | CN¥140.7m | CN¥106.7m | CN¥2.36bn | CN¥2.72bn | CN¥184.4m | CN¥23.8m | CN¥96.0m | CN¥102.4m |
| Capital spending | −CN¥190.6m | −CN¥107.4m | −CN¥103.2m | −CN¥207.7m | −CN¥960.6m | −CN¥429.4m | −CN¥150.5m | −CN¥203.1m | −CN¥78.1m | −CN¥61.7m |
| Free cash flow | −CN¥186.9m | CN¥76.5m | CN¥37.5m | −CN¥100.9m | CN¥1.40bn | CN¥2.29bn | CN¥33.9m | −CN¥179.3m | CN¥17.9m | CN¥40.7m |
| Dividends paid | −CN¥126.5m | −CN¥215.9m | −CN¥294.6m | −CN¥500.0m | −CN¥250.0m | −CN¥575.0m | −CN¥19.8m | −CN¥14.0m | −CN¥8.6m | −CN¥61.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥876.4m | CN¥601.9m | CN¥509.5m | CN¥626.1m | CN¥608.4m | CN¥629.1m | CN¥618.4m | CN¥689.8m |
| Gross profit | CN¥268.2m | CN¥86.1m | CN¥68.2m | CN¥73.2m | CN¥39.1m | CN¥84.0m | CN¥37.4m | CN¥140.2m |
| Operating income | CN¥192.8m | CN¥13.9m | −CN¥18.8m | −CN¥15.6m | −CN¥17.5m | CN¥22.7m | −CN¥129.0m | CN¥21.5m |
| Net income | CN¥153.7m | CN¥4.9m | −CN¥105.2m | −CN¥13.0m | −CN¥13.2m | CN¥18.9m | −CN¥138.2m | CN¥18.5m |
| Diluted earnings per share | 0.36 | 0.01 | -0.25 | -0.03 | -0.03 | 0.04 | -0.30 | 0.04 |
| Cash from operations | — | — | — | −CN¥44.0m | −CN¥20.0m | CN¥10.0m | — | CN¥116.0m |
| Capital spending | −CN¥4.0m | −CN¥21.0m | −CN¥70.0m | −CN¥100.0m | −CN¥12.0m | −CN¥7.0m | −CN¥40.0m | −CN¥15.0m |
| Free cash flow | — | — | — | −CN¥144.0m | −CN¥32.0m | CN¥3.0m | — | CN¥101.0m |
| Total assets | CN¥7.69bn | CN¥7.79bn | CN¥7.44bn | CN¥7.65bn | CN¥7.61bn | CN¥7.43bn | CN¥7.23bn | CN¥7.39bn |
| Cash and short-term investments | — | — | — | CN¥2.64bn | CN¥2.59bn | CN¥2.69bn | CN¥2.33bn | CN¥2.70bn |
| Debt | CN¥180.8m | CN¥119.6m | CN¥218.8m | CN¥1.11bn | CN¥1.22bn | CN¥901.8m | CN¥721.7m | CN¥565.8m |
| Shareholders' equity | CN¥5.26bn | CN¥5.26bn | CN¥5.26bn | CN¥5.37bn | CN¥5.38bn | CN¥5.49bn | CN¥5.47bn | CN¥5.62bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 11.1% | 11.1% | 4.7% | 1.2% | 58.7% | 70.7% | — |
| Operating margin | -3.9% | -1.7% | -5.8% | 3.4% | 56.7% | 67.2% | — |
| Net margin | -4.7% | -3.5% | -6.2% | 4.3% | 47.7% | 55.7% | — |
| Return on equity | -2.1% | -1.6% | -2.3% | 1.1% | 35.7% | 104.2% | — |
| Return on assets | -1.5% | -1.2% | -1.9% | 1.0% | 32.7% | 72.5% | — |
| Free cash flow yield | 2.0% | 2.8% | 2.6% | 3.1% | 33.7% | 42.6% | — |
| Revenue growth | -3.4% | 16.7% | 33.9% | -68.0% | 2.7% | 308.1% | — |
| Earnings growth | 29.0% | -33.4% | -295.6% | -97.1% | -12.1% | 2883.8% | — |
| Current ratio | 2.68x | 3.70x | 5.19x | 6.90x | 9.21x | 2.42x | — |
| Debt to equity | 0.04x | 0.13x | 0.08x | 0.01x | — | 0.03x | 0.70x |
| Equity ratio | 70.7% | 75.7% | 81.7% | 89.8% | 91.6% | 69.6% | — |
| Interest coverage | -3.00x | -1.59x | -7.33x | 16.88x | 879.15x | 312.44x | — |
| R&D as a share of sales | 2.2% | 2.0% | 1.5% | 0.6% | 0.4% | 0.2% | — |
| Buybacks as a share of market value | 8.0% | -12.0% | 8.1% | -4.3% | -33.1% | 6.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.7% | -13.1% | 14.7% |
| Operating income | 69.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.8% | 10.3% | 39.3% | 35.3% |
| Operating margin | -2.5% | -3.1% | 31.4% | 26.9% |
| Net margin | -4.1% | -3.1% | 26.1% | 22.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -47.2 | -67.8 | -50.2 | 96.4 | 6.3 |
| Price to sales | 2.2 | 2.4 | 3.1 | 4.1 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 27 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.35 | 0.25 | 0.455 | 0.636 | 2.098 | 0.583 |
- 1-to-1 reverse split · 27 Jun 2025
- 13-for-10 split · 26 May 2023
- 9-for-5 split · 30 May 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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