Q 
3.19
+4.93%
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¥323.2m
FY2016FY2025
Net income
−CN¥81.7m
FY2016FY2025
Free cash flow
−CN¥75.0m
FY2016FY2025
Shareholders' equity
CN¥558.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥323.2m | CN¥236.6m | CN¥356.0m | CN¥535.1m | CN¥658.8m | CN¥636.7m | CN¥706.4m | CN¥763.5m | CN¥918.1m | CN¥956.5m |
| Gross profit | CN¥33.0m | CN¥17.8m | −CN¥5.8m | −CN¥12.4m | CN¥10.0m | −CN¥8.1m | −CN¥140.0m | −CN¥19.3m | CN¥181.9m | CN¥201.0m |
| Research and development | CN¥9.6m | CN¥11.8m | CN¥14.8m | CN¥14.6m | CN¥15.3m | CN¥21.4m | CN¥30.5m | CN¥36.7m | CN¥42.9m | CN¥33.8m |
| Operating income | −CN¥22.6m | −CN¥91.3m | −CN¥147.7m | −CN¥168.4m | −CN¥115.4m | CN¥38.8m | −CN¥421.2m | −CN¥249.9m | CN¥31.5m | −CN¥91.1m |
| Net income | −CN¥81.7m | −CN¥89.9m | −CN¥159.3m | −CN¥152.7m | −CN¥111.8m | CN¥29.0m | −CN¥418.2m | −CN¥207.2m | CN¥21.0m | −CN¥66.1m |
| Diluted earnings per share | -0.08 | -0.19 | -0.45 | -0.39 | -0.24 | 0.09 | -0.94 | -0.46 | 0.06 | -0.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.02bn | CN¥986.4m | CN¥1.09bn | CN¥1.37bn | CN¥1.84bn | CN¥1.66bn | CN¥1.96bn | CN¥2.45bn | CN¥2.95bn | CN¥3.00bn |
| Cash and short-term investments | — | CN¥119.9m | CN¥252.3m | CN¥240.5m | CN¥62.0m | CN¥131.8m | CN¥61.6m | CN¥125.7m | CN¥100.3m | CN¥243.6m |
| Total liabilities | CN¥407.8m | CN¥283.8m | CN¥356.5m | CN¥465.6m | CN¥753.5m | CN¥503.7m | CN¥849.5m | CN¥898.2m | CN¥1.07bn | CN¥1.14bn |
| Debt | CN¥81.6m | CN¥61.2m | CN¥110.8m | CN¥170.2m | CN¥226.2m | CN¥170.0m | CN¥321.7m | CN¥422.6m | CN¥507.7m | CN¥571.6m |
| Shareholders' equity | CN¥558.8m | CN¥640.0m | CN¥728.8m | CN¥892.8m | CN¥1.05bn | CN¥1.15bn | CN¥1.12bn | CN¥1.54bn | CN¥1.75bn | CN¥1.73bn |
| Shares outstanding | 1,047m | 477m | 351m | 390m | 472m | 331m | 444m | 447m | 361m | 445m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥65.0m | −CN¥70.4m | −CN¥77.9m | −CN¥26.8m | CN¥58.5m | −CN¥103.6m | −CN¥12.1m | CN¥51.3m | −CN¥73.7m | −CN¥324.0m |
| Capital spending | −CN¥9.9m | −CN¥4.0m | −CN¥2.2m | −CN¥2.6m | −CN¥11.7m | −CN¥16.3m | −CN¥5.4m | −CN¥8.9m | −CN¥21.4m | −CN¥46.5m |
| Free cash flow | −CN¥75.0m | −CN¥74.4m | −CN¥80.1m | −CN¥29.3m | CN¥46.8m | −CN¥119.9m | −CN¥17.5m | CN¥42.4m | −CN¥95.1m | −CN¥370.5m |
| Dividends paid | −CN¥1.6m | −CN¥4.1m | −CN¥9.1m | −CN¥8.6m | −CN¥10.9m | −CN¥26.3m | −CN¥31.7m | −CN¥39.6m | −CN¥35.6m | −CN¥38.1m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥106.8m | CN¥103.6m | CN¥86.1m | CN¥126.8m | CN¥83.7m | CN¥61.3m | CN¥51.4m | CN¥51.2m |
| Gross profit | CN¥9.6m | CN¥11.4m | CN¥8.9m | CN¥10.2m | CN¥7.2m | CN¥8.4m | CN¥7.2m | CN¥481,869 |
| Operating income | −CN¥7.5m | −CN¥5.3m | −CN¥8.8m | −CN¥9.7m | −CN¥4.9m | −CN¥1.7m | −CN¥1.6m | −CN¥72.8m |
| Net income | −CN¥7.5m | −CN¥7.0m | −CN¥7.2m | −CN¥75.3m | −CN¥4.2m | −CN¥1.4m | −CN¥803,515 | −CN¥72.3m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.07 | -0.00 | -0.00 | -0.00 | -0.15 |
| Cash from operations | — | — | — | — | −CN¥6.0m | −CN¥12.0m | −CN¥4.0m | — |
| Capital spending | −CN¥2.0m | −CN¥2.0m | −CN¥1.0m | −CN¥5.0m | −CN¥3.0m | — | — | −CN¥1.0m |
| Free cash flow | — | — | — | — | −CN¥9.0m | — | — | — |
| Total assets | CN¥967.4m | CN¥992.8m | CN¥981.1m | CN¥1.02bn | CN¥1.04bn | CN¥1.01bn | CN¥1.00bn | CN¥986.4m |
| Cash and short-term investments | — | — | — | — | CN¥124.9m | CN¥145.2m | CN¥147.6m | CN¥119.9m |
| Debt | CN¥77.2m | CN¥77.2m | CN¥81.6m | CN¥81.6m | CN¥55.5m | CN¥99.0m | CN¥91.4m | CN¥59.4m |
| Shareholders' equity | CN¥537.1m | CN¥544.5m | CN¥551.5m | CN¥558.8m | CN¥633.6m | CN¥637.8m | CN¥639.1m | CN¥640.0m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.2% | 7.5% | -1.6% | -2.3% | 1.5% | -1.3% |
| Operating margin | -28.7% | -38.1% | -39.3% | -30.8% | -14.0% | 13.4% |
| Net margin | -25.3% | -38.0% | -44.7% | -28.5% | -17.0% | 4.5% |
| Return on equity | -14.6% | -14.1% | -21.9% | -17.1% | -10.7% | 2.5% |
| Return on assets | -8.0% | -9.1% | -14.7% | -11.1% | -6.1% | 1.7% |
| Free cash flow yield | -1.7% | -4.6% | -7.2% | -2.1% | 4.9% | -8.8% |
| Revenue growth | 36.6% | -33.5% | -33.5% | -18.8% | 3.5% | -9.9% |
| Earnings growth | -9.2% | -43.5% | 4.3% | 36.6% | -486.0% | -106.9% |
| Current ratio | 1.96x | 2.61x | 2.01x | 1.95x | 1.28x | 2.11x |
| Debt to equity | 0.15x | 0.09x | 0.15x | 0.19x | 0.20x | 0.15x |
| Equity ratio | 55.0% | 64.9% | 67.1% | 65.0% | 56.8% | 69.4% |
| Interest coverage | -50.27x | -54.88x | -20.52x | -14.61x | -7.76x | 2.73x |
| R&D as a share of sales | 3.0% | 5.0% | 4.2% | 2.7% | 2.3% | 3.4% |
| Buybacks as a share of market value | -119.4% | -35.9% | 9.9% | 17.4% | -42.6% | 25.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.5% | -12.7% | -12.0% |
| Operating income | -48.8% | — | 39.8% |
| Net income | -18.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.1% | 2.2% | 1.3% | 7.6% |
| Operating margin | -20.4% | -29.6% | -18.4% | -17.1% |
| Net margin | -30.7% | -33.3% | -20.6% | -16.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -68.0 | -19.6 | -10.5 | -10.6 | -19.1 | 31.8 | -4.7 | -8.3 | 117.6 | -71.3 |
| Price to sales | 17.2 | 7.4 | 4.7 | 3.0 | 3.2 | 1.4 | 2.8 | 2.3 | 2.7 | 4.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Jun 2018.
| FY2018 | FY2016 | FY2012 | FY2008 | FY2003 | FY2002 | FY2001 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.02 | 0.05 | 0.07 | 0.025 | 0.042 | 0.034 |
- 1.193-for-1 split · 25 Dec 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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