T 
20.30
-0.88%
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¥2.20bn
FY2016FY2025
Net income
−CN¥201.4m
FY2016FY2025
Free cash flow
CN¥36.9m
FY2016FY2025
Shareholders' equity
CN¥1.20bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.20bn | CN¥1.75bn | CN¥2.44bn | CN¥2.62bn | CN¥1.66bn | CN¥1.24bn | CN¥1.01bn | CN¥935.6m | CN¥591.8m | CN¥373.0m |
| Gross profit | CN¥192.8m | −CN¥108.6m | −CN¥313.5m | CN¥318.3m | CN¥231.3m | CN¥143.5m | CN¥162.4m | CN¥110.0m | CN¥104.9m | CN¥76.7m |
| Research and development | CN¥71.1m | CN¥98.8m | CN¥84.8m | CN¥84.2m | CN¥65.8m | CN¥38.9m | CN¥34.0m | CN¥32.0m | CN¥19.4m | — |
| Operating income | −CN¥50.5m | −CN¥459.7m | −CN¥544.8m | CN¥158.9m | CN¥105.1m | CN¥67.0m | CN¥80.1m | CN¥45.5m | CN¥58.4m | CN¥35.2m |
| Net income | −CN¥201.4m | −CN¥428.9m | −CN¥501.7m | CN¥130.7m | CN¥84.9m | CN¥57.1m | CN¥71.4m | CN¥40.8m | CN¥51.0m | CN¥32.8m |
| Diluted earnings per share | -1.74 | -3.57 | -4.12 | 1.08 | 0.95 | 0.63 | 0.88 | 0.54 | 0.62 | 9.50 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.54bn | CN¥2.81bn | CN¥3.17bn | CN¥3.71bn | CN¥1.86bn | CN¥1.51bn | CN¥1.14bn | CN¥782.1m | CN¥727.8m | CN¥402.8m |
| Cash and short-term investments | — | CN¥226.7m | CN¥276.2m | CN¥579.9m | CN¥111.2m | CN¥199.0m | CN¥184.3m | CN¥44.1m | CN¥89.0m | CN¥77.0m |
| Total liabilities | CN¥1.32bn | CN¥1.34bn | CN¥1.20bn | CN¥1.21bn | CN¥1.04bn | CN¥771.6m | CN¥440.9m | CN¥342.2m | CN¥308.5m | CN¥178.5m |
| Debt | — | CN¥673.2m | CN¥552.0m | CN¥708.1m | CN¥251.5m | CN¥86.3m | CN¥114.5m | CN¥142.5m | CN¥107.1m | CN¥36.5m |
| Shareholders' equity | CN¥1.20bn | CN¥1.44bn | CN¥1.94bn | CN¥2.50bn | CN¥818.7m | CN¥733.9m | CN¥699.6m | CN¥439.9m | CN¥419.3m | CN¥224.3m |
| Shares outstanding | 115m | 120m | 122m | 120m | 90m | 91m | 81m | 76m | 82m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥45.4m | −CN¥305.3m | CN¥123.9m | −CN¥927.3m | −CN¥144.1m | −CN¥41.2m | CN¥66.0m | CN¥8.1m | −CN¥178.1m | −CN¥60.0m |
| Capital spending | −CN¥8.4m | −CN¥101.9m | −CN¥222.2m | −CN¥245.0m | −CN¥44.9m | −CN¥42.7m | −CN¥15.4m | −CN¥23.3m | −CN¥35.0m | −CN¥13.1m |
| Free cash flow | CN¥36.9m | −CN¥407.2m | −CN¥98.3m | −CN¥1.17bn | −CN¥189.1m | −CN¥83.9m | CN¥50.6m | −CN¥15.2m | −CN¥213.1m | −CN¥73.1m |
| Dividends paid | −CN¥18.8m | −CN¥25.0m | −CN¥55.2m | −CN¥17.3m | −CN¥5.9m | −CN¥29.2m | −CN¥32.9m | −CN¥29.3m | −CN¥4.7m | −CN¥4.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥699.6m | CN¥515.8m | CN¥669.4m | CN¥568.7m | CN¥548.0m | CN¥418.3m | CN¥373.1m | CN¥426.8m |
| Gross profit | CN¥62.3m | CN¥51.5m | CN¥27.5m | CN¥38.0m | CN¥18.4m | CN¥13.9m | −CN¥116.6m | −CN¥21.7m |
| Operating income | CN¥25.9m | CN¥15.4m | −CN¥11.2m | −CN¥30.3m | −CN¥23.1m | −CN¥40.7m | −CN¥295.2m | −CN¥87.8m |
| Net income | CN¥7.8m | CN¥8.5m | −CN¥114.2m | −CN¥28.9m | −CN¥20.3m | −CN¥40.6m | −CN¥258.2m | −CN¥89.3m |
| Diluted earnings per share | 0.07 | 0.07 | -0.99 | -0.25 | -0.18 | -0.35 | -2.15 | -0.74 |
| Cash from operations | — | — | — | CN¥77.0m | −CN¥1.0m | −CN¥24.0m | — | −CN¥41.0m |
| Capital spending | −CN¥2.0m | — | −CN¥1.0m | −CN¥2.0m | −CN¥1.0m | −CN¥3.0m | −CN¥53.0m | −CN¥12.0m |
| Free cash flow | — | — | — | CN¥75.0m | −CN¥2.0m | −CN¥27.0m | — | −CN¥53.0m |
| Total assets | CN¥2.79bn | CN¥2.59bn | CN¥2.54bn | CN¥2.74bn | CN¥2.91bn | CN¥3.06bn | CN¥2.81bn | CN¥3.17bn |
| Cash and short-term investments | — | — | — | CN¥159.1m | CN¥294.3m | CN¥337.1m | CN¥226.7m | CN¥247.6m |
| Debt | — | — | — | CN¥654.8m | CN¥547.4m | CN¥1.03bn | CN¥672.5m | CN¥552.5m |
| Shareholders' equity | CN¥1.21bn | CN¥1.21bn | CN¥1.20bn | CN¥1.35bn | CN¥1.38bn | CN¥1.39bn | CN¥1.44bn | CN¥1.75bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 4.5% | -6.2% | -12.8% | 12.2% | 13.9% | 11.5% | — |
| Operating margin | -8.3% | -26.2% | -21.3% | 6.5% | 6.3% | 7.9% | — |
| Net margin | -9.1% | -24.5% | -20.5% | 5.0% | 5.1% | 4.6% | — |
| Return on equity | -16.8% | -29.9% | -25.8% | 5.2% | 10.4% | 7.8% | — |
| Return on assets | -7.9% | -15.3% | -15.8% | 3.5% | 4.6% | 3.8% | — |
| Free cash flow yield | 2.4% | -8.5% | 14.4% | -28.6% | -5.6% | 0.1% | — |
| Revenue growth | 25.7% | -28.2% | -6.7% | 57.4% | 33.8% | 22.9% | — |
| Earnings growth | -53.1% | -14.5% | -483.8% | 54.0% | 48.5% | -20.0% | — |
| Current ratio | 1.20x | 1.32x | 1.74x | 3.12x | 1.53x | 1.64x | — |
| Debt to equity | — | 0.47x | 0.27x | 0.22x | 0.29x | 0.11x | 0.12x |
| Equity ratio | 47.3% | 51.2% | 61.2% | 67.4% | 44.0% | 48.7% | — |
| Interest coverage | -7.93x | -17.72x | -23.00x | 6.23x | 12.46x | 16.61x | — |
| R&D as a share of sales | 3.2% | 5.6% | 3.5% | 3.2% | 4.0% | 3.1% | — |
| Buybacks as a share of market value | 3.9% | 1.3% | -1.0% | -34.3% | 1.1% | -12.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.6% | 12.1% | 26.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.1% | 1.0% | 3.9% | 6.4% |
| Operating margin | -12.9% | -9.9% | -6.1% | -3.2% |
| Net margin | -15.9% | -11.1% | -7.2% | -4.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -17.5 | -9.2 | -8.9 | 44.4 |
| Price to sales | 1.6 | 2.3 | 1.8 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 May 2023.
| FY2023 | |
|---|---|
| Paid in the year | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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