H 
18.83
-0.58%
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¥1.50bn
FY2016FY2025
Net income
−CN¥15.5m
FY2016FY2025
Free cash flow
−CN¥221.8m
FY2016FY2025
Shareholders' equity
CN¥1.33bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.50bn | CN¥1.23bn | CN¥936.4m | CN¥1.08bn | CN¥933.1m | CN¥636.6m | CN¥606.5m | CN¥658.5m | CN¥460.4m | CN¥356.5m |
| Research and development | CN¥56.6m | CN¥46.4m | CN¥40.1m | CN¥39.8m | CN¥37.3m | CN¥27.1m | CN¥30.1m | CN¥30.3m | CN¥21.5m | — |
| Operating income | CN¥30.9m | −CN¥68.0m | −CN¥53.6m | CN¥224.0m | CN¥267.1m | CN¥118.5m | CN¥115.7m | CN¥144.2m | CN¥73.7m | −CN¥3.7m |
| Net income | −CN¥15.5m | −CN¥60.9m | −CN¥37.6m | CN¥201.5m | CN¥241.6m | CN¥106.2m | CN¥100.5m | CN¥129.0m | CN¥61.6m | CN¥617,743 |
| Diluted earnings per share | -0.14 | -0.57 | -0.35 | 1.89 | 2.72 | 1.33 | 1.26 | 1.55 | 0.77 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.59bn | CN¥2.55bn | CN¥2.39bn | CN¥2.01bn | CN¥1.60bn | CN¥728.1m | CN¥665.4m | CN¥638.9m | CN¥515.4m | CN¥368.9m |
| Cash and short-term investments | — | CN¥358.9m | CN¥194.1m | CN¥248.4m | CN¥629.5m | CN¥140.0m | CN¥143.0m | CN¥59.1m | CN¥60.5m | CN¥25.8m |
| Total liabilities | CN¥1.21bn | CN¥1.16bn | CN¥979.9m | CN¥531.9m | CN¥244.2m | CN¥148.2m | CN¥136.5m | CN¥177.8m | CN¥167.3m | CN¥81.3m |
| Debt | CN¥246.4m | CN¥398.4m | CN¥448.6m | CN¥175.1m | CN¥75.6m | CN¥36.0m | CN¥8.0m | CN¥8.0m | CN¥17.0m | CN¥16.5m |
| Shareholders' equity | CN¥1.33bn | CN¥1.34bn | CN¥1.39bn | CN¥1.48bn | CN¥1.35bn | CN¥571.4m | CN¥513.4m | CN¥446.6m | CN¥335.3m | CN¥281.2m |
| Shares outstanding | 110m | 107m | 107m | 107m | 89m | 80m | 80m | 83m | 80m | 80m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥80.7m | CN¥31.0m | CN¥37.0m | CN¥201.8m | CN¥263.3m | CN¥104.1m | CN¥148.1m | CN¥146.7m | CN¥83.5m | CN¥65.9m |
| Capital spending | −CN¥302.5m | −CN¥174.8m | −CN¥327.6m | −CN¥366.1m | −CN¥87.3m | −CN¥61.2m | −CN¥50.2m | −CN¥108.6m | −CN¥42.7m | −CN¥24.2m |
| Free cash flow | −CN¥221.8m | −CN¥143.9m | −CN¥290.6m | −CN¥164.3m | CN¥176.0m | CN¥42.9m | CN¥98.0m | CN¥38.1m | CN¥40.9m | CN¥41.7m |
| Dividends paid | −CN¥26.4m | −CN¥14.7m | −CN¥64.3m | −CN¥80.0m | −CN¥1.4m | −CN¥49.0m | −CN¥32.9m | −CN¥20.5m | −CN¥11.2m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥465.6m | CN¥408.6m | CN¥396.1m | CN¥360.4m | CN¥375.6m | CN¥372.6m | CN¥376.9m | CN¥276.6m |
| Operating income | CN¥58.2m | CN¥31.6m | CN¥13.3m | −CN¥7.8m | CN¥6.0m | CN¥9.3m | −CN¥7.9m | −CN¥31.2m |
| Net income | CN¥38.5m | CN¥24.0m | −CN¥13.8m | −CN¥9.3m | CN¥3.4m | CN¥4.2m | −CN¥7.2m | −CN¥30.4m |
| Diluted earnings per share | 0.35 | 0.22 | -0.13 | -0.08 | 0.03 | 0.04 | -0.07 | -0.28 |
| Cash from operations | — | — | — | CN¥72.0m | CN¥21.0m | CN¥7.0m | — | CN¥6.0m |
| Capital spending | −CN¥38.0m | −CN¥55.0m | −CN¥57.0m | −CN¥78.0m | −CN¥106.0m | −CN¥59.0m | −CN¥28.0m | −CN¥37.0m |
| Free cash flow | — | — | — | −CN¥6.0m | −CN¥85.0m | −CN¥52.0m | — | −CN¥31.0m |
| Total assets | CN¥2.64bn | CN¥2.62bn | CN¥2.59bn | CN¥2.67bn | CN¥2.57bn | CN¥2.53bn | CN¥2.55bn | CN¥2.51bn |
| Cash and short-term investments | — | — | — | CN¥349.3m | CN¥324.0m | CN¥325.8m | CN¥358.9m | CN¥241.0m |
| Debt | CN¥269.8m | CN¥269.8m | CN¥246.4m | CN¥566.8m | CN¥297.4m | CN¥355.8m | CN¥397.7m | CN¥432.5m |
| Shareholders' equity | CN¥1.41bn | CN¥1.36bn | CN¥1.33bn | CN¥1.34bn | CN¥1.35bn | CN¥1.34bn | CN¥1.34bn | CN¥1.34bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -0.0% | -4.1% | -4.5% | 21.0% | 29.3% | 19.0% |
| Net margin | -1.0% | -4.9% | -4.0% | 18.7% | 25.9% | 16.7% |
| Return on equity | -1.2% | -4.6% | -2.7% | 13.6% | 17.9% | 18.6% |
| Return on assets | -0.6% | -2.4% | -1.6% | 10.0% | 15.1% | 14.6% |
| Free cash flow yield | 16.7% | 9.3% | 16.4% | 25.6% | 19.0% | 9.9% |
| Revenue growth | 21.9% | 31.9% | -13.3% | 15.7% | 46.6% | 5.0% |
| Earnings growth | -74.6% | 62.3% | -118.6% | -16.6% | 127.6% | 5.6% |
| Current ratio | 1.05x | 1.29x | 1.93x | 2.86x | 5.77x | 3.49x |
| Debt to equity | 0.19x | 0.30x | 0.32x | 0.10x | 0.06x | 0.06x |
| Equity ratio | 51.3% | 52.5% | 58.1% | 73.4% | 84.5% | 78.5% |
| Interest coverage | -0.04x | -3.40x | -4.28x | 91.52x | 146.68x | 125.59x |
| R&D as a share of sales | 3.8% | 3.8% | 4.3% | 3.7% | 4.0% | 4.3% |
| Buybacks as a share of market value | -3.5% | 0.1% | -0.1% | -20.0% | -11.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.7% | 18.8% | 14.9% |
| Operating income | -48.3% | -23.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.4% | 2.8% | 8.2% | 9.6% |
| Net margin | -2.8% | 1.8% | 6.9% | 8.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -176.6 | -32.2 | -69.5 | 16.0 | 22.8 |
| Price to sales | 1.8 | 1.6 | 2.8 | 3.0 | 5.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 26 May 2025.
| FY2025 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.125 | 0.50 | 0.75 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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