L 
6.82
-0.44%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.31bn
FY2016FY2025
Net income
−CN¥98.7m
FY2016FY2025
Free cash flow
−CN¥60.4m
FY2016FY2025
Shareholders' equity
CN¥2.38bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.31bn | CN¥1.49bn | CN¥2.12bn | CN¥2.18bn | CN¥2.24bn | CN¥2.05bn | CN¥2.14bn | CN¥2.26bn | CN¥1.85bn | CN¥1.42bn |
| Gross profit | CN¥147.3m | CN¥193.7m | CN¥294.1m | CN¥334.8m | CN¥339.3m | CN¥286.5m | CN¥431.0m | CN¥420.4m | CN¥309.4m | CN¥239.8m |
| Research and development | CN¥82.2m | CN¥101.7m | CN¥118.4m | CN¥111.8m | CN¥113.6m | CN¥75.3m | CN¥87.4m | CN¥88.2m | CN¥63.3m | CN¥46.2m |
| Operating income | −CN¥115.2m | −CN¥55.7m | −CN¥42.6m | CN¥72.8m | CN¥64.0m | CN¥55.7m | CN¥96.0m | CN¥78.5m | CN¥63.7m | CN¥44.4m |
| Net income | −CN¥98.7m | −CN¥62.3m | −CN¥46.7m | CN¥60.3m | CN¥54.3m | CN¥37.3m | CN¥85.1m | CN¥70.8m | CN¥59.2m | CN¥41.1m |
| Diluted earnings per share | -0.18 | -0.11 | -0.08 | 0.11 | 0.10 | 0.07 | 0.17 | 0.19 | 0.16 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.27bn | CN¥3.28bn | CN¥3.59bn | CN¥3.50bn | CN¥3.33bn | CN¥3.18bn | CN¥2.97bn | CN¥2.36bn | CN¥2.36bn | CN¥2.06bn |
| Cash and short-term investments | CN¥1.33bn | CN¥1.40bn | CN¥1.49bn | CN¥1.37bn | CN¥1.23bn | CN¥628.0m | CN¥671.0m | CN¥329.2m | CN¥311.1m | CN¥472.2m |
| Total liabilities | CN¥412.6m | CN¥376.4m | CN¥1.07bn | CN¥805.3m | CN¥693.8m | CN¥589.2m | CN¥742.4m | CN¥654.4m | CN¥660.1m | CN¥401.2m |
| Debt | CN¥171.8m | CN¥27.1m | CN¥247.5m | CN¥165.0m | CN¥174.3m | CN¥104.1m | CN¥267.3m | CN¥280.2m | CN¥342.5m | CN¥165.3m |
| Shareholders' equity | CN¥2.38bn | CN¥2.47bn | CN¥2.49bn | CN¥2.67bn | CN¥2.61bn | CN¥2.57bn | CN¥2.20bn | CN¥1.68bn | CN¥1.69bn | CN¥1.64bn |
| Shares outstanding | 553m | 554m | 551m | 551m | 553m | 554m | 498m | 373m | 373m | 373m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥78.1m | CN¥143.7m | CN¥174.5m | CN¥148.6m | CN¥91.2m | CN¥86.5m | CN¥227.6m | CN¥47.9m | CN¥8.6m | −CN¥39.0m |
| Capital spending | −CN¥138.4m | −CN¥192.9m | −CN¥196.8m | −CN¥37.4m | −CN¥43.0m | −CN¥59.5m | −CN¥95.4m | −CN¥44.6m | −CN¥68.2m | −CN¥59.7m |
| Free cash flow | −CN¥60.4m | −CN¥49.2m | −CN¥22.3m | CN¥111.2m | CN¥48.2m | CN¥27.0m | CN¥132.1m | CN¥3.3m | −CN¥59.6m | −CN¥98.6m |
| Dividends paid | −CN¥1.1m | −CN¥3.2m | −CN¥21.7m | −CN¥16.6m | −CN¥11.6m | −CN¥26.0m | −CN¥4.5m | −CN¥26.9m | −CN¥20.9m | −CN¥13.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥420.5m | CN¥319.3m | CN¥360.0m | CN¥316.2m | CN¥353.6m | CN¥290.0m | CN¥385.7m | CN¥333.5m |
| Gross profit | CN¥63.5m | CN¥44.6m | CN¥50.5m | CN¥37.7m | CN¥44.2m | CN¥38.9m | CN¥47.2m | CN¥47.4m |
| Operating income | −CN¥7.7m | −CN¥23.3m | −CN¥17.4m | −CN¥34.4m | −CN¥21.2m | −CN¥26.6m | −CN¥1.5m | −CN¥26.4m |
| Net income | −CN¥8.7m | −CN¥23.7m | −CN¥12.3m | −CN¥33.4m | −CN¥24.3m | −CN¥28.6m | −CN¥4.9m | −CN¥25.5m |
| Diluted earnings per share | -0.02 | -0.04 | -0.02 | -0.06 | -0.04 | -0.05 | -0.01 | -0.05 |
| Cash from operations | — | — | CN¥165.0m | CN¥12.0m | −CN¥24.0m | −CN¥77.0m | — | −CN¥39.0m |
| Capital spending | −CN¥14.0m | −CN¥39.0m | −CN¥32.0m | −CN¥37.0m | −CN¥39.0m | −CN¥28.0m | −CN¥35.0m | −CN¥52.0m |
| Free cash flow | — | — | CN¥133.0m | −CN¥25.0m | −CN¥63.0m | −CN¥105.0m | — | −CN¥91.0m |
| Total assets | CN¥3.32bn | CN¥3.27bn | CN¥3.27bn | CN¥3.23bn | CN¥3.23bn | CN¥3.28bn | CN¥3.28bn | CN¥2.91bn |
| Cash and short-term investments | — | — | CN¥1.33bn | CN¥1.20bn | CN¥1.24bn | CN¥1.30bn | CN¥1.40bn | CN¥808.3m |
| Debt | — | — | CN¥158.5m | CN¥99.9m | CN¥25.0m | CN¥25.0m | CN¥25.3m | CN¥65.0m |
| Shareholders' equity | CN¥2.35bn | CN¥2.36bn | CN¥2.38bn | CN¥2.39bn | CN¥2.42bn | CN¥2.44bn | CN¥2.47bn | CN¥2.44bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.2% | 13.0% | 13.9% | 15.3% | 15.2% | 13.9% |
| Operating margin | -8.8% | -3.4% | -1.6% | 3.7% | 3.2% | 2.9% |
| Net margin | -7.5% | -4.2% | -2.2% | 2.8% | 2.4% | 1.8% |
| Return on equity | -4.2% | -2.5% | -1.9% | 2.3% | 2.1% | 1.5% |
| Return on assets | -3.0% | -1.9% | -1.3% | 1.7% | 1.6% | 1.2% |
| Free cash flow yield | 5.5% | 8.5% | 9.4% | 4.7% | 3.4% | 3.7% |
| Revenue growth | -11.5% | -29.9% | -2.9% | -2.4% | 8.8% | -3.9% |
| Earnings growth | 58.6% | 33.4% | -177.3% | 11.1% | 45.9% | -56.2% |
| Current ratio | 5.28x | 6.95x | 2.54x | 3.47x | 3.87x | 4.33x |
| Debt to equity | 0.07x | 0.01x | 0.10x | 0.06x | 0.06x | 0.04x |
| Equity ratio | 72.7% | 75.4% | 69.6% | 76.3% | 78.5% | 80.7% |
| Interest coverage | -64.57x | -15.19x | -5.51x | 9.79x | 9.17x | 7.66x |
| R&D as a share of sales | 6.3% | 6.8% | 5.6% | 5.1% | 5.1% | 3.7% |
| Buybacks as a share of market value | 0.2% | -0.6% | -0.0% | 0.3% | 0.2% | -11.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.5% | -8.5% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.2% | 13.7% | 14.0% | 15.8% |
| Operating margin | -6.1% | -2.0% | -0.2% | 1.5% |
| Net margin | -5.8% | -2.1% | -0.5% | 1.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -57.8 | -58.7 | -95.3 | 69.0 | 84.8 | 107.5 | 41.6 | 29.6 | 68.4 | 124.4 |
| Price to sales | 4.3 | 2.5 | 2.1 | 1.9 | 2.1 | 1.9 | 1.7 | 0.9 | 2.2 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jul 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.021 | 0.03 | 0.021 | 0.047 | 0.012 | 0.048 | 0.034 | 0.03 |
- 1-to-1 reverse split · 13 Mar 2008
- 6-for-5 split · 9 May 2001
- 3-for-2 split · 15 May 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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