N 
16.53
-1.84%
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¥2.69bn
FY2017FY2025
Net income
−CN¥75.7m
FY2017FY2025
Free cash flow
−CN¥824.3m
FY2017FY2025
Shareholders' equity
CN¥1.60bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.69bn | CN¥2.33bn | CN¥1.72bn | CN¥1.98bn | CN¥1.23bn | CN¥1.03bn | CN¥1.02bn | CN¥948.0m | CN¥807.6m |
| Gross profit | CN¥636.8m | CN¥397.0m | CN¥327.1m | CN¥435.6m | CN¥221.7m | CN¥267.8m | CN¥246.2m | CN¥170.9m | CN¥163.0m |
| Research and development | CN¥70.4m | CN¥70.4m | CN¥56.5m | CN¥63.6m | CN¥38.1m | CN¥38.5m | CN¥38.0m | CN¥28.7m | CN¥26.3m |
| Operating income | −CN¥82.4m | CN¥53.1m | CN¥49.0m | CN¥198.1m | CN¥70.3m | CN¥142.4m | CN¥103.4m | CN¥8.8m | CN¥26.5m |
| Net income | −CN¥75.7m | CN¥57.0m | CN¥45.4m | CN¥179.2m | CN¥71.2m | CN¥114.3m | CN¥74.8m | CN¥10.5m | CN¥17.9m |
| Diluted earnings per share | -0.39 | 0.30 | 0.24 | 0.93 | 0.49 | 0.80 | 0.39 | 0.05 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.54bn | CN¥4.55bn | CN¥4.11bn | CN¥2.91bn | CN¥2.06bn | CN¥1.13bn | CN¥884.0m | CN¥849.9m | CN¥807.1m |
| Cash and short-term investments | — | CN¥406.8m | CN¥946.6m | CN¥754.6m | CN¥854.8m | CN¥104.1m | CN¥42.4m | CN¥45.5m | CN¥44.0m |
| Total liabilities | CN¥3.83bn | CN¥2.72bn | CN¥2.28bn | CN¥1.24bn | CN¥707.1m | CN¥668.5m | CN¥538.1m | CN¥575.5m | CN¥543.6m |
| Debt | CN¥1.78bn | CN¥1.50bn | CN¥1.13bn | CN¥321.8m | CN¥364.2m | CN¥288.4m | CN¥283.0m | CN¥294.4m | CN¥239.9m |
| Shareholders' equity | CN¥1.60bn | CN¥1.69bn | CN¥1.69bn | CN¥1.51bn | CN¥1.36bn | CN¥458.9m | CN¥345.9m | CN¥274.4m | CN¥263.5m |
| Shares outstanding | 194m | 189m | 192m | 192m | 145m | 143m | 194m | 194m | 194m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥113.5m | CN¥339.0m | CN¥146.3m | CN¥653.7m | CN¥108.2m | CN¥179.6m | CN¥126.6m | CN¥43.9m | CN¥66.8m |
| Capital spending | −CN¥937.7m | −CN¥1.09bn | −CN¥809.8m | −CN¥423.5m | −CN¥156.1m | −CN¥163.6m | −CN¥90.1m | −CN¥77.2m | −CN¥151.9m |
| Free cash flow | −CN¥824.3m | −CN¥755.4m | −CN¥663.5m | CN¥230.2m | −CN¥47.9m | CN¥16.0m | CN¥36.6m | −CN¥33.3m | −CN¥85.1m |
| Dividends paid | −CN¥38.0m | −CN¥60.1m | −CN¥50.7m | −CN¥24.0m | −CN¥13.3m | −CN¥9.1m | −CN¥12.4m | −CN¥12.2m | −CN¥9.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.11bn | CN¥753.1m | CN¥822.7m | CN¥741.7m | CN¥617.2m | CN¥505.8m | CN¥603.6m | CN¥655.7m |
| Gross profit | CN¥173.9m | CN¥87.0m | CN¥75.3m | CN¥130.4m | CN¥76.0m | CN¥72.7m | CN¥75.1m | CN¥122.6m |
| Operating income | CN¥49.5m | −CN¥36.7m | −CN¥48.8m | −CN¥18.2m | −CN¥26.2m | −CN¥17.1m | −CN¥8.1m | CN¥2.4m |
| Net income | CN¥7.5m | −CN¥98.6m | −CN¥1.9m | −CN¥9.1m | −CN¥39.7m | −CN¥25.0m | −CN¥10.1m | CN¥5.4m |
| Diluted earnings per share | 0.04 | -0.51 | -0.01 | -0.05 | -0.20 | -0.13 | -0.05 | 0.03 |
| Cash from operations | — | — | — | −CN¥89.0m | CN¥28.0m | −CN¥27.0m | — | CN¥166.0m |
| Capital spending | −CN¥147.0m | −CN¥240.0m | −CN¥330.0m | −CN¥99.0m | −CN¥247.0m | −CN¥261.0m | −CN¥238.0m | −CN¥279.0m |
| Free cash flow | — | — | — | −CN¥188.0m | −CN¥219.0m | −CN¥288.0m | — | −CN¥113.0m |
| Total assets | CN¥5.93bn | CN¥5.61bn | CN¥5.54bn | CN¥5.33bn | CN¥4.92bn | CN¥4.59bn | CN¥4.55bn | CN¥4.30bn |
| Cash and short-term investments | — | — | — | CN¥345.0m | CN¥319.9m | CN¥261.4m | CN¥406.8m | CN¥414.8m |
| Debt | CN¥1.25bn | CN¥1.84bn | CN¥1.78bn | CN¥893.9m | CN¥1.85bn | CN¥1.65bn | CN¥1.49bn | CN¥1.22bn |
| Shareholders' equity | CN¥2.15bn | CN¥1.46bn | CN¥1.60bn | CN¥1.67bn | CN¥1.65bn | CN¥1.66bn | CN¥1.69bn | CN¥1.73bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.7% | 17.1% | 19.0% | 22.0% | 18.0% | 26.1% |
| Operating margin | -2.3% | 4.7% | 2.8% | 10.5% | 7.5% | 14.6% |
| Net margin | -2.8% | 2.5% | 2.6% | 9.1% | 5.8% | 11.1% |
| Return on equity | -4.7% | 3.4% | 2.7% | 11.9% | 5.2% | 24.9% |
| Return on assets | -1.4% | 1.3% | 1.1% | 6.2% | 3.4% | 10.1% |
| Free cash flow yield | 30.0% | 41.9% | 27.5% | 31.0% | 10.1% | 13.3% |
| Revenue growth | 15.5% | 35.2% | -12.9% | 60.1% | 20.3% | 0.6% |
| Earnings growth | -232.8% | 25.7% | -74.7% | 151.7% | -37.7% | 52.8% |
| Current ratio | 0.81x | 1.13x | 1.56x | 1.33x | 2.30x | 0.85x |
| Debt to equity | 1.11x | 0.88x | 0.66x | 0.21x | 0.24x | 0.56x |
| Equity ratio | 28.9% | 37.2% | 41.0% | 51.9% | 65.8% | 40.7% |
| Interest coverage | -0.84x | 1.69x | 2.66x | 12.46x | 6.46x | 9.88x |
| R&D as a share of sales | 2.6% | 3.0% | 3.3% | 3.2% | 3.1% | 3.8% |
| Buybacks as a share of market value | -2.6% | 1.6% | 0.0% | -32.6% | -1.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.8% | 21.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.6% | 20.6% | 20.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -55.2 | 54.8 | 71.9 | 22.2 | 40.5 |
| Price to sales | 1.6 | 1.3 | 1.9 | 2.0 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 May 2024.
| FY2024 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.20 | 0.30 | 0.125 |
- 8-for-5 split · 26 Apr 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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