V 
9.93
+2.37%
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¥463.3m
FY2016FY2025
Net income
−CN¥654.8m
FY2016FY2025
Free cash flow
CN¥127.6m
FY2016FY2025
Shareholders' equity
CN¥4.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥463.3m | CN¥494.9m | CN¥487.2m | CN¥422.1m | CN¥813.3m | CN¥1.36bn | CN¥1.10bn | CN¥3.64bn | CN¥3.29bn | CN¥2.34bn |
| Research and development | CN¥62.8m | CN¥7.0m | CN¥8.3m | CN¥3.0m | — | — | — | — | — | — |
| Operating income | — | −CN¥466.2m | −CN¥373.1m | −CN¥401.6m | −CN¥79.0m | CN¥278.0m | −CN¥214.5m | CN¥739.5m | CN¥686.8m | CN¥183.9m |
| Net income | −CN¥654.8m | −CN¥457.0m | −CN¥390.1m | −CN¥323.1m | CN¥184.8m | CN¥50.9m | CN¥604.8m | CN¥327.3m | CN¥356.1m | CN¥110.3m |
| Diluted earnings per share | -0.35 | -0.24 | -0.21 | -0.17 | 0.09 | 0.03 | 0.29 | 0.16 | 0.17 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.35bn | CN¥7.86bn | CN¥8.83bn | CN¥9.52bn | CN¥10.86bn | CN¥11.58bn | CN¥12.59bn | CN¥13.04bn | CN¥13.36bn | CN¥14.20bn |
| Cash and short-term investments | — | CN¥1.21bn | CN¥1.45bn | CN¥1.81bn | CN¥2.66bn | CN¥2.58bn | CN¥2.41bn | CN¥1.91bn | CN¥3.02bn | CN¥3.39bn |
| Total liabilities | CN¥2.47bn | CN¥2.41bn | CN¥2.83bn | CN¥3.13bn | CN¥3.45bn | CN¥3.98bn | CN¥4.39bn | CN¥5.36bn | CN¥6.16bn | CN¥7.35bn |
| Debt | CN¥1.49bn | CN¥1.76bn | CN¥1.83bn | CN¥1.97bn | CN¥2.22bn | CN¥2.32bn | CN¥2.39bn | CN¥2.53bn | CN¥3.57bn | CN¥3.77bn |
| Shareholders' equity | CN¥4.65bn | CN¥5.18bn | CN¥5.63bn | CN¥6.02bn | CN¥7.02bn | CN¥7.13bn | CN¥7.71bn | CN¥7.20bn | CN¥6.95bn | CN¥6.60bn |
| Shares outstanding | 1,890m | 1,871m | 1,871m | 1,871m | 1,972m | 2,019m | 2,055m | 2,068m | 2,055m | 1,778m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥162.6m | CN¥30.8m | CN¥91.3m | CN¥419.7m | CN¥55.7m | CN¥1.22bn | −CN¥338.9m | CN¥330.5m | CN¥982.0m | CN¥1.32bn |
| Capital spending | −CN¥35.1m | −CN¥4.3m | −CN¥11.2m | −CN¥4.1m | −CN¥4.6m | −CN¥7.0m | −CN¥4.4m | −CN¥417,316 | −CN¥2.0m | −CN¥817,187 |
| Free cash flow | CN¥127.6m | CN¥26.5m | CN¥80.2m | CN¥415.7m | CN¥51.1m | CN¥1.22bn | −CN¥343.3m | CN¥330.1m | CN¥980.0m | CN¥1.32bn |
| Dividends paid | −CN¥73.5m | −CN¥84.9m | −CN¥95.8m | −CN¥114.8m | −CN¥124.9m | −CN¥120.1m | −CN¥98.6m | −CN¥267.9m | −CN¥227.4m | −CN¥458.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥123.2m | CN¥105.7m | CN¥146.0m | CN¥130.3m | CN¥71.7m | CN¥115.3m | CN¥163.2m | CN¥96.6m |
| Operating income | −CN¥113.1m | −CN¥119.2m | −CN¥131.7m | −CN¥26.3m | CN¥19.6m | −CN¥35.4m | −CN¥339.7m | −CN¥40.3m |
| Net income | −CN¥102.0m | −CN¥112.3m | −CN¥635.0m | CN¥8.2m | CN¥7.2m | −CN¥35.3m | −CN¥341.0m | −CN¥36.9m |
| Diluted earnings per share | -0.05 | -0.06 | -0.34 | 0.00 | 0.00 | -0.02 | -0.18 | -0.02 |
| Cash from operations | — | — | — | CN¥135.0m | CN¥57.0m | CN¥10.0m | — | CN¥80.0m |
| Capital spending | −CN¥11.0m | −CN¥21.0m | −CN¥33.0m | — | — | — | — | −CN¥1.0m |
| Free cash flow | — | — | — | — | — | — | — | CN¥79.0m |
| Total assets | CN¥7.31bn | CN¥7.39bn | CN¥7.35bn | CN¥8.14bn | CN¥7.77bn | CN¥7.79bn | CN¥7.86bn | CN¥8.41bn |
| Cash and short-term investments | — | — | — | CN¥1.06bn | CN¥1.15bn | CN¥1.17bn | CN¥1.21bn | CN¥1.10bn |
| Debt | CN¥1.43bn | CN¥1.48bn | CN¥1.49bn | CN¥198.2m | CN¥1.72bn | CN¥1.75bn | CN¥1.63bn | CN¥1.73bn |
| Shareholders' equity | CN¥4.52bn | CN¥4.57bn | CN¥4.65bn | CN¥5.25bn | CN¥5.27bn | CN¥5.15bn | CN¥5.18bn | CN¥5.52bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -133.7% | -94.2% | -76.6% | -95.1% | -9.7% | 20.4% |
| Net margin | -141.3% | -92.3% | -80.1% | -76.5% | 22.7% | 3.7% |
| Return on equity | -14.1% | -8.8% | -6.9% | -5.4% | 2.6% | 0.7% |
| Return on assets | -8.9% | -5.8% | -4.4% | -3.4% | 1.7% | 0.4% |
| Free cash flow yield | 0.8% | 0.1% | 0.4% | 1.7% | 0.2% | 4.6% |
| Revenue growth | -6.4% | 1.6% | 15.4% | -48.1% | -40.3% | 23.5% |
| Earnings growth | 43.3% | 17.1% | 20.7% | -274.8% | 263.3% | -91.6% |
| Current ratio | 1.76x | 3.30x | 2.98x | 2.75x | 3.92x | 3.64x |
| Debt to equity | 0.32x | 0.34x | 0.32x | 0.28x | 0.29x | 0.31x |
| Equity ratio | 63.2% | 65.9% | 63.8% | 63.3% | 64.6% | 61.6% |
| Interest coverage | -8.45x | -5.73x | -3.87x | -3.49x | -0.63x | 2.03x |
| R&D as a share of sales | 13.6% | 1.4% | 1.7% | 0.7% | — | — |
| Buybacks as a share of market value | -1.0% | 0.0% | 0.0% | 5.1% | 2.3% | 1.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.1% | -19.4% | -15.9% |
| Net income | 26.5% | — | 0.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | -116.0% | -97.7% | -39.3% | -4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -35.5 | -30.5 | -31.1 | -36.4 | 113.8 | 276.6 | 17.9 | 21.1 | 23.0 | 93.2 |
| Price to sales | 50.2 | 28.2 | 24.9 | 27.9 | 25.9 | 10.3 | 9.8 | 1.9 | 2.5 | 4.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jul 2020.
| FY2020 | FY2019 | FY2018 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.048 | 0.027 | 0.07 | 0.14 | 0.12 | 0.17 | 0.168 |
- 6-for-5 split · 7 Apr 2010
- 2-for-1 split · 16 Apr 2009
- 3-for-2 split · 23 Oct 2007
- 2-for-1 split · 16 Mar 2007
- 1-to-1 reverse split · 8 Sept 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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