C 
27.66
-1.60%
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¥1.70bn
FY2017FY2025
Net income
−CN¥42.8m
FY2017FY2025
Free cash flow
−CN¥304.2m
FY2017FY2025
Shareholders' equity
CN¥872.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.70bn | CN¥1.15bn | CN¥1.78bn | CN¥165.8m | CN¥393.6m | CN¥1.32bn | CN¥797.4m | CN¥411.0m | CN¥251.5m |
| Gross profit | CN¥234.3m | CN¥152.8m | CN¥231.7m | −CN¥21.1m | CN¥78.5m | CN¥462.4m | CN¥277.0m | CN¥107.9m | CN¥64.6m |
| Research and development | CN¥49.9m | CN¥34.5m | CN¥46.0m | CN¥14.9m | CN¥20.8m | CN¥43.9m | CN¥27.5m | CN¥13.4m | CN¥7.6m |
| Operating income | CN¥28.2m | −CN¥188.6m | CN¥92.0m | −CN¥61.6m | CN¥20.5m | CN¥312.5m | CN¥180.3m | CN¥50.5m | CN¥36.0m |
| Net income | −CN¥42.8m | −CN¥191.9m | CN¥56.2m | −CN¥51.6m | CN¥19.3m | CN¥225.1m | CN¥120.8m | CN¥43.6m | CN¥4 |
| Diluted earnings per share | -0.23 | -1.03 | 0.30 | -0.29 | 0.11 | 1.60 | 0.65 | 0.23 | 0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.53bn | CN¥2.23bn | CN¥2.54bn | CN¥1.61bn | CN¥1.46bn | CN¥998.8m | CN¥703.5m | CN¥622.0m | CN¥244.0m |
| Cash and short-term investments | — | CN¥147.7m | CN¥337.2m | CN¥169.2m | CN¥541.7m | CN¥153.0m | CN¥126.8m | CN¥46.3m | CN¥141,924 |
| Total liabilities | CN¥1.65bn | CN¥1.25bn | CN¥1.30bn | CN¥429.3m | CN¥177.5m | CN¥503.4m | CN¥443.3m | CN¥407.4m | CN¥158.3m |
| Debt | CN¥499.4m | CN¥577.2m | CN¥404.3m | CN¥159.9m | CN¥20.7m | CN¥237.0m | CN¥195.3m | CN¥234.0m | CN¥56.0m |
| Shareholders' equity | CN¥872.7m | CN¥971.7m | CN¥1.23bn | CN¥1.17bn | CN¥1.25bn | CN¥457.1m | CN¥230.5m | CN¥190.0m | CN¥85.7m |
| Shares outstanding | 187m | 186m | 190m | 181m | 178m | 140m | 187m | 187m | 187m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥253.7m | −CN¥248.7m | CN¥73.3m | CN¥21.4m | CN¥55.2m | CN¥82.3m | CN¥79.9m | CN¥15.6m | −CN¥53.3m |
| Capital spending | −CN¥50.5m | −CN¥43.0m | −CN¥167.2m | −CN¥431.1m | −CN¥163.0m | −CN¥85.6m | −CN¥13.1m | −CN¥4.3m | −CN¥16.3m |
| Free cash flow | −CN¥304.2m | −CN¥291.8m | −CN¥93.9m | −CN¥409.7m | −CN¥107.8m | −CN¥3.4m | CN¥66.9m | CN¥11.3m | −CN¥69.6m |
| Dividends paid | −CN¥32.5m | −CN¥88.1m | −CN¥27.1m | −CN¥16.0m | −CN¥21.6m | −CN¥15.2m | −CN¥12.2m | −CN¥6.7m | −CN¥3.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥431.1m | CN¥484.5m | CN¥491.9m | CN¥389.9m | CN¥390.7m | CN¥424.5m | CN¥183.6m | CN¥161.6m |
| Gross profit | −CN¥2.4m | CN¥48.4m | −CN¥22.9m | CN¥68.8m | CN¥28.0m | CN¥76.4m | −CN¥75.5m | CN¥57.7m |
| Operating income | −CN¥43.4m | CN¥17.7m | −CN¥60.1m | CN¥18.3m | CN¥7.3m | CN¥32.9m | −CN¥248.9m | −CN¥13.4m |
| Net income | −CN¥37.2m | CN¥11.2m | −CN¥88.9m | CN¥16.3m | CN¥7.4m | CN¥22.3m | −CN¥239.3m | −CN¥18.6m |
| Diluted earnings per share | -0.20 | 0.06 | -0.48 | 0.09 | 0.04 | 0.12 | -1.29 | -0.10 |
| Cash from operations | — | — | — | CN¥114.0m | −CN¥22.0m | −CN¥168.0m | — | CN¥120.0m |
| Capital spending | −CN¥41.0m | −CN¥6.0m | −CN¥12.0m | −CN¥14.0m | −CN¥16.0m | −CN¥5.0m | −CN¥12.0m | −CN¥10.0m |
| Free cash flow | — | — | — | CN¥100.0m | −CN¥38.0m | −CN¥173.0m | — | CN¥110.0m |
| Total assets | CN¥2.43bn | CN¥2.60bn | CN¥2.53bn | CN¥2.52bn | CN¥2.62bn | CN¥2.63bn | CN¥2.23bn | CN¥2.55bn |
| Cash and short-term investments | — | — | — | CN¥177.3m | CN¥181.3m | CN¥180.3m | CN¥147.7m | CN¥108.1m |
| Debt | CN¥468.9m | CN¥499.2m | CN¥499.4m | CN¥364.5m | CN¥892.1m | CN¥789.7m | CN¥564.7m | CN¥613.7m |
| Shareholders' equity | CN¥846.7m | CN¥884.0m | CN¥872.7m | CN¥1.01bn | CN¥995.3m | CN¥987.9m | CN¥971.7m | CN¥1.21bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 8.9% | 13.3% | 13.0% | -12.7% | 19.9% | 35.0% | — |
| Operating margin | -0.8% | -14.1% | 6.6% | -35.1% | 7.7% | 23.7% | — |
| Net margin | -2.5% | -16.7% | 3.2% | -31.1% | 4.9% | 17.1% | — |
| Return on equity | -4.9% | -19.8% | 4.6% | -4.4% | 1.5% | 49.2% | — |
| Return on assets | -1.7% | -8.6% | 2.2% | -3.2% | 1.3% | 22.5% | — |
| Free cash flow yield | — | — | 1.2% | — | — | — | — |
| Revenue growth | 47.4% | -35.2% | 971.4% | -57.9% | -70.2% | 65.5% | — |
| Earnings growth | -77.7% | -441.2% | -209.1% | -366.9% | -91.4% | 86.4% | — |
| Current ratio | 1.38x | 1.59x | 1.43x | 1.68x | 7.27x | 1.56x | — |
| Debt to equity | 0.57x | 0.58x | 0.32x | 0.13x | — | 0.52x | 0.85x |
| Equity ratio | 34.5% | 43.6% | 48.6% | 72.8% | 85.7% | 45.8% | — |
| Interest coverage | -0.37x | -6.19x | 4.46x | -12.47x | 3.98x | 17.57x | — |
| R&D as a share of sales | 2.9% | 3.0% | 2.6% | 9.0% | 5.3% | 3.3% | — |
| Buybacks as a share of market value | -0.5% | 2.2% | -5.2% | -1.4% | -27.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 117.1% | 5.2% | — |
| Operating income | — | -38.2% | — |
| Net income | -6.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.6% | 12.5% | 17.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -79.9 | -17.8 | 91.0 | -52.4 | 322.9 |
| Price to sales | 2.0 | 3.0 | 2.9 | 16.3 | 15.8 |
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 | 0.40 | 0.086 |
- 7-for-5 split · 12 Jun 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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