W 
1.38
-0.72%
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¥502.2m
FY2016FY2025
Net income
−CN¥15.8m
FY2016FY2025
Free cash flow
−CN¥37.9m
FY2016FY2025
Shareholders' equity
CN¥228.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥502.2m | CN¥429.1m | CN¥525.0m | CN¥740.6m | CN¥1.55bn | CN¥699.7m | CN¥1.78bn | CN¥2.67bn | CN¥911.9m | CN¥569.0m |
| Gross profit | CN¥63.4m | CN¥40.7m | CN¥7.4m | −CN¥1.36bn | CN¥265.5m | −CN¥438.1m | CN¥353.1m | CN¥933.2m | CN¥510.5m | CN¥308.5m |
| Research and development | — | — | — | — | — | — | — | — | — | CN¥4.4m |
| Operating income | CN¥1.3m | −CN¥105.6m | CN¥2.95bn | −CN¥4.25bn | −CN¥636.3m | −CN¥1.62bn | −CN¥138.9m | CN¥198.1m | CN¥191.9m | CN¥215.5m |
| Net income | −CN¥15.8m | −CN¥101.0m | CN¥2.86bn | −CN¥4.72bn | −CN¥977.8m | −CN¥1.96bn | CN¥3.2m | CN¥178.0m | CN¥128.1m | CN¥122.2m |
| Diluted earnings per share | -0.01 | -0.05 | 0.45 | -8.15 | -0.90 | -3.34 | 0.01 | 0.37 | 0.26 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥894.3m | CN¥923.0m | CN¥578.2m | CN¥3.41bn | CN¥7.07bn | CN¥8.99bn | CN¥10.40bn | CN¥10.63bn | CN¥5.13bn | CN¥3.58bn |
| Cash and short-term investments | — | CN¥245.0m | CN¥169.7m | CN¥129.6m | CN¥57.7m | CN¥424.3m | CN¥158.9m | CN¥852.7m | CN¥560.3m | CN¥326.1m |
| Total liabilities | CN¥627.4m | CN¥640.2m | CN¥187.2m | CN¥8.33bn | CN¥6.47bn | CN¥6.69bn | CN¥5.81bn | CN¥6.40bn | CN¥2.38bn | CN¥1.11bn |
| Debt | — | CN¥201.8m | CN¥17.9m | CN¥2.31bn | CN¥2.32bn | CN¥3.14bn | CN¥3.59bn | CN¥3.98bn | CN¥1.44bn | CN¥884.2m |
| Shareholders' equity | CN¥228.5m | CN¥244.3m | CN¥373.7m | −CN¥4.62bn | CN¥654.2m | CN¥2.11bn | CN¥4.30bn | CN¥3.35bn | CN¥2.52bn | CN¥2.39bn |
| Shares outstanding | 1,195m | 2,020m | 6,435m | 580m | 1,082m | 587m | 450m | 478m | 497m | 579m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥25.7m | −CN¥73.6m | −CN¥967,408 | CN¥78.4m | CN¥130.5m | CN¥481.7m | CN¥357.4m | CN¥216.7m | −CN¥827.3m | −CN¥318.8m |
| Capital spending | −CN¥12.3m | −CN¥13.1m | −CN¥1.2m | −CN¥592,695 | −CN¥2.8m | −CN¥364.4m | −CN¥1.65bn | −CN¥578.2m | −CN¥53.3m | −CN¥9.1m |
| Free cash flow | −CN¥37.9m | −CN¥86.7m | −CN¥2.1m | CN¥77.8m | CN¥127.7m | CN¥117.3m | −CN¥1.29bn | −CN¥361.5m | −CN¥880.6m | −CN¥327.9m |
| Dividends paid | −CN¥4.2m | −CN¥1.1m | — | −CN¥2.4m | −CN¥307.6m | −CN¥409.1m | −CN¥11.2m | −CN¥252.4m | −CN¥98.7m | −CN¥19.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥112.4m | CN¥123.3m | CN¥82.9m | CN¥139.9m | CN¥143.9m | CN¥135.5m | CN¥274.4m | CN¥114.5m |
| Gross profit | CN¥17.6m | CN¥12.9m | CN¥15.6m | CN¥12.2m | CN¥10.0m | CN¥25.7m | CN¥35.6m | CN¥902,441 |
| Operating income | CN¥6.2m | CN¥537,889 | −CN¥7.8m | −CN¥6.5m | −CN¥8.8m | CN¥14.1m | −CN¥64.9m | −CN¥9.6m |
| Net income | CN¥1.3m | −CN¥2.1m | −CN¥9.4m | −CN¥7.4m | −CN¥4.2m | CN¥5.2m | −CN¥72.5m | −CN¥6.9m |
| Diluted earnings per share | 0.00 | -0.00 | -0.01 | -0.01 | -0.00 | 0.00 | -0.04 | -0.00 |
| Cash from operations | — | — | — | −CN¥22.0m | −CN¥57.0m | −CN¥27.0m | — | — |
| Capital spending | — | −CN¥1.0m | −CN¥8.0m | −CN¥1.0m | — | −CN¥2.0m | −CN¥5.0m | −CN¥3.0m |
| Free cash flow | — | — | — | −CN¥23.0m | — | −CN¥29.0m | — | — |
| Total assets | CN¥847.1m | CN¥865.6m | CN¥894.3m | CN¥876.5m | CN¥870.8m | CN¥929.2m | CN¥923.0m | CN¥761.4m |
| Cash and short-term investments | — | — | — | CN¥141.1m | CN¥169.8m | CN¥221.7m | CN¥245.0m | CN¥102.6m |
| Debt | — | — | — | CN¥61.3m | CN¥50.8m | CN¥31.0m | CN¥22.5m | CN¥11.9m |
| Shareholders' equity | CN¥227.7m | CN¥226.3m | CN¥228.5m | CN¥237.8m | CN¥245.3m | CN¥249.5m | CN¥244.3m | CN¥345.2m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2016 | FY2010 | FY2009 | FY2008 | FY2007 | FY2002 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 12.6% | 9.5% | 1.4% | -183.2% | 17.1% | -62.6% | — | — | — | — | — | — | — |
| Operating margin | 0.8% | -24.6% | 610.9% | -581.7% | -41.0% | -231.7% | — | — | — | — | — | — | — |
| Net margin | -3.1% | -23.5% | 545.5% | -637.9% | -62.9% | -280.2% | — | — | — | — | — | — | — |
| Return on equity | -6.9% | -41.4% | 766.4% | 102.2% | -149.5% | -92.8% | — | — | — | — | — | — | — |
| Return on assets | -1.8% | -10.9% | 495.4% | -138.5% | -13.8% | -21.8% | — | — | — | — | — | — | — |
| Free cash flow yield | — | -2.5% | -0.0% | — | — | — | — | — | 6.9% | 7.2% | 18.3% | 34.5% | — |
| Revenue growth | 17.0% | -18.3% | -29.1% | -52.3% | 122.0% | -60.7% | — | — | — | — | — | — | — |
| Earnings growth | -84.4% | -103.5% | -160.6% | 383.2% | -50.1% | -60803.9% | — | — | — | — | — | — | — |
| Current ratio | 1.24x | 1.30x | 2.86x | 0.23x | 0.54x | 0.56x | — | — | — | — | — | — | — |
| Debt to equity | — | 0.09x | 0.01x | -0.49x | 3.27x | 0.65x | 0.83x | — | — | — | — | — | — |
| Equity ratio | 25.5% | 26.5% | 64.6% | -135.5% | 9.3% | 23.5% | — | — | — | — | — | — | — |
| Interest coverage | 0.36x | -18.04x | 9.50x | -9.28x | -1.42x | -2.92x | — | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | 0.8% | — | — | — | — | 1.2% |
| Buybacks as a share of market value | 40.8% | 68.6% | -1010.4% | 46.4% | -84.3% | -30.3% | — | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.1% | -6.4% | 1.5% |
| Operating income | — | — | -34.3% |
| Net income | -85.0% | -61.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.2% | -56.7% | -31.9% | 8.0% |
| Operating margin | -11.2% | -64.1% | -82.4% | -28.8% |
| Net margin | -12.5% | -90.0% | -110.5% | -41.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -127.1 | -40.0 | 5.1 | -0.2 | -7.4 | -2.0 | — | 21.9 | 54.3 | 77.8 |
| Price to sales | 4.0 | 9.4 | 27.6 | 1.4 | 4.7 | 5.7 | 3.1 | 1.5 | 7.6 | 16.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Aug 2019.
| FY2019 | FY2018 | FY2002 | FY2001 | FY2000 | FY1998 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.023 | 0.07 | 0.025 | 0.05 | 0.05 | 0.05 |
- 1-to-1 reverse split · 21 Dec 2023
- 2-for-1 split · 12 May 2016
- 1-to-1 reverse split · 16 Oct 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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