L 
6.84
0.00%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.54bn
FY2016FY2025
Net income
−CN¥348.1m
FY2016FY2025
Free cash flow
−CN¥46.0m
FY2016FY2025
Shareholders' equity
CN¥818.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.54bn | CN¥1.68bn | CN¥2.12bn | CN¥2.16bn | CN¥2.07bn | CN¥2.06bn | CN¥1.92bn | CN¥1.78bn | CN¥1.90bn | CN¥1.82bn |
| Gross profit | CN¥120.9m | CN¥190.5m | CN¥293.6m | CN¥390.3m | CN¥178.8m | CN¥205.1m | CN¥412.4m | CN¥404.3m | CN¥478.9m | CN¥452.5m |
| Research and development | CN¥81.6m | CN¥84.0m | CN¥85.5m | CN¥94.2m | CN¥76.7m | CN¥92.0m | CN¥58.2m | CN¥54.5m | CN¥48.8m | CN¥48.7m |
| Operating income | — | −CN¥233.6m | −CN¥117.9m | −CN¥151.1m | −CN¥161.4m | −CN¥237.3m | CN¥58.0m | CN¥58.4m | CN¥81.0m | CN¥3.5m |
| Net income | −CN¥348.1m | −CN¥224.9m | −CN¥110.0m | −CN¥119.7m | −CN¥128.1m | −CN¥195.2m | CN¥11.7m | CN¥11.6m | CN¥16.6m | CN¥22.3m |
| Diluted earnings per share | -0.79 | -0.51 | -0.25 | -0.27 | -0.29 | -0.44 | 0.03 | 0.03 | 0.04 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.37bn | CN¥4.66bn | CN¥4.93bn | CN¥4.93bn | CN¥4.68bn | CN¥4.71bn | CN¥4.60bn | CN¥4.66bn | CN¥4.69bn | CN¥4.64bn |
| Cash and short-term investments | — | CN¥449.0m | CN¥320.4m | CN¥379.4m | CN¥278.6m | CN¥266.6m | CN¥452.8m | CN¥451.1m | CN¥467.0m | CN¥436.2m |
| Total liabilities | CN¥3.53bn | CN¥3.45bn | CN¥3.48bn | CN¥3.34bn | CN¥2.95bn | CN¥2.85bn | CN¥2.52bn | CN¥2.60bn | CN¥2.62bn | CN¥2.56bn |
| Debt | CN¥180.2m | CN¥1.42bn | CN¥1.17bn | CN¥1.34bn | CN¥1.28bn | CN¥1.19bn | CN¥1.09bn | CN¥1.17bn | CN¥1.16bn | CN¥1.16bn |
| Shareholders' equity | CN¥818.4m | CN¥1.18bn | CN¥1.42bn | CN¥1.57bn | CN¥1.70bn | CN¥1.81bn | CN¥1.94bn | CN¥1.93bn | CN¥1.95bn | CN¥1.93bn |
| Shares outstanding | 442m | 442m | 442m | 443m | 442m | 443m | 442m | 444m | 442m | 443m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥542,714 | CN¥63.1m | CN¥15.5m | −CN¥221.1m | −CN¥11.0m | −CN¥246.8m | CN¥123.1m | CN¥68.3m | −CN¥99.7m | CN¥3.3m |
| Capital spending | −CN¥46.6m | −CN¥74.8m | −CN¥78.8m | −CN¥61.5m | −CN¥17.9m | −CN¥23.6m | −CN¥13.1m | −CN¥29.9m | −CN¥49.1m | −CN¥126.8m |
| Free cash flow | −CN¥46.0m | −CN¥11.7m | −CN¥63.3m | −CN¥282.6m | −CN¥28.8m | −CN¥270.5m | CN¥109.9m | CN¥38.4m | −CN¥148.8m | −CN¥123.5m |
| Dividends paid | −CN¥55.1m | −CN¥58.5m | −CN¥54.2m | −CN¥54.9m | −CN¥58.9m | −CN¥2.6m | −CN¥2.6m | −CN¥55.6m | −CN¥57.4m | −CN¥55.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥343.5m | CN¥310.6m | CN¥446.1m | CN¥401.1m | CN¥408.6m | CN¥285.2m | CN¥438.8m | CN¥496.1m |
| Gross profit | CN¥23.9m | CN¥27.1m | −CN¥3.9m | CN¥44.9m | CN¥41.3m | CN¥38.6m | −CN¥33,101 | CN¥63.7m |
| Operating income | −CN¥52.6m | −CN¥45.4m | −CN¥106.4m | −CN¥46.3m | −CN¥55.2m | −CN¥41.5m | −CN¥111.4m | −CN¥24.4m |
| Net income | −CN¥79.4m | −CN¥56.7m | −CN¥189.5m | −CN¥46.4m | −CN¥72.2m | −CN¥39.9m | −CN¥105.7m | −CN¥38.3m |
| Diluted earnings per share | -0.18 | -0.13 | -0.43 | -0.11 | -0.16 | -0.09 | -0.24 | -0.09 |
| Cash from operations | — | — | — | −CN¥19.0m | −CN¥28.0m | −CN¥57.0m | CN¥49.0m | CN¥68.0m |
| Capital spending | −CN¥6.0m | −CN¥3.0m | −CN¥10.0m | −CN¥4.0m | −CN¥15.0m | −CN¥25.0m | −CN¥47.0m | −CN¥4.0m |
| Free cash flow | — | — | — | −CN¥23.0m | −CN¥43.0m | −CN¥82.0m | CN¥2.0m | CN¥64.0m |
| Total assets | CN¥4.43bn | CN¥4.48bn | CN¥4.37bn | CN¥4.65bn | CN¥4.63bn | CN¥4.74bn | CN¥4.66bn | CN¥4.78bn |
| Cash and short-term investments | — | — | — | CN¥472.5m | CN¥489.6m | CN¥599.7m | CN¥449.0m | CN¥412.0m |
| Debt | CN¥258.7m | CN¥360.3m | CN¥180.2m | CN¥1.78bn | CN¥1.57bn | CN¥1.58bn | CN¥1.42bn | CN¥1.43bn |
| Shareholders' equity | CN¥676.2m | CN¥759.6m | CN¥818.4m | CN¥1.01bn | CN¥1.06bn | CN¥1.14bn | CN¥1.18bn | CN¥1.29bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 7.8% | 11.4% | 13.8% | 18.1% | 8.7% | 9.9% |
| Operating margin | -16.7% | -9.8% | -2.5% | -3.8% | -4.6% | -8.6% |
| Net margin | -22.6% | -13.4% | -5.2% | -5.5% | -6.2% | -9.5% |
| Return on equity | -42.5% | -19.0% | -7.7% | -7.6% | -7.5% | -10.8% |
| Return on assets | -8.0% | -4.8% | -2.2% | -2.4% | -2.7% | -4.1% |
| Free cash flow yield | 1.4% | 4.0% | 2.7% | -4.6% | 0.2% | -6.5% |
| Revenue growth | -8.0% | -21.0% | -1.9% | 4.6% | 0.1% | 7.7% |
| Earnings growth | 54.7% | 104.6% | -8.2% | -6.5% | -34.4% | -1763.9% |
| Current ratio | 1.03x | 1.18x | 1.13x | 1.21x | 1.28x | 1.26x |
| Debt to equity | 0.22x | 1.20x | 1.00x | 0.85x | 0.69x | 0.66x |
| Equity ratio | 18.7% | 25.4% | 28.9% | 31.8% | 36.2% | 38.5% |
| Interest coverage | -4.51x | -2.49x | -0.85x | -1.42x | -1.46x | -3.07x |
| R&D as a share of sales | 5.3% | 5.0% | 4.0% | 4.4% | 3.7% | 4.5% |
| Buybacks as a share of market value | -0.0% | 0.1% | 0.2% | -0.3% | 0.4% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.7% | -5.7% | -1.6% |
| Net income | 42.7% | 12.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.7% | 13.3% | 11.9% | 17.2% |
| Net margin | -17.8% | -10.7% | -9.7% | -4.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.9 | -11.3 | -24.9 | -21.1 | -20.1 | -11.8 | 193.4 | 162.2 | 173.5 | 185.3 |
| Price to sales | 2.9 | 1.5 | 1.3 | 1.2 | 1.3 | 1.1 | 1.2 | 1.1 | 1.5 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 Jun 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.006 | 0.006 | 0.006 | 0.008 | 0.01 | 0.018 | 0.017 | 0.015 |
- 6-for-5 split · 10 Jun 2010
- 1-to-1 reverse split · 9 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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