T 
2.54
-0.39%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥867.9m
FY2015FY2024
Net income
−CN¥49.9m
FY2015FY2024
Free cash flow
−CN¥504.3m
FY2015FY2024
Shareholders' equity
CN¥287.8m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥867.9m | CN¥849.5m | CN¥821.1m | CN¥678.4m | CN¥608.2m | CN¥976.0m | CN¥1.03bn | CN¥919.6m | CN¥594.0m | CN¥474.7m |
| Gross profit | CN¥121.9m | CN¥145.1m | CN¥159.5m | CN¥144.7m | CN¥89.3m | CN¥189.5m | CN¥191.0m | CN¥160.8m | CN¥118.2m | CN¥101.8m |
| Research and development | CN¥1.2m | CN¥930,355 | CN¥1.3m | CN¥751,791 | CN¥704,207 | CN¥738,920 | CN¥726,340 | CN¥601,108 | — | CN¥8,000 |
| Operating income | −CN¥29.3m | −CN¥47.5m | −CN¥4.1m | CN¥20.4m | −CN¥46.6m | CN¥3.1m | CN¥53.5m | CN¥45.0m | CN¥32.9m | CN¥13.3m |
| Net income | −CN¥49.9m | −CN¥72.8m | −CN¥51.7m | CN¥3.8m | −CN¥67.9m | −CN¥31.3m | CN¥4.2m | CN¥6.1m | CN¥2.1m | CN¥476,257 |
| Diluted earnings per share | -0.13 | -0.17 | -0.16 | 0.01 | -0.17 | -0.08 | 0.01 | 0.13 | 0.01 | 0.00 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥976.2m | CN¥894.7m | CN¥945.7m | CN¥857.6m | CN¥1.08bn | CN¥1.14bn | CN¥1.20bn | CN¥1.12bn | CN¥1.08bn | CN¥983.6m |
| Cash and short-term investments | CN¥8.1m | CN¥30.6m | CN¥18.1m | CN¥11.7m | CN¥150.8m | CN¥97.9m | CN¥216.5m | CN¥174.1m | CN¥184.3m | CN¥234.4m |
| Total liabilities | CN¥688.6m | CN¥586.6m | CN¥613.8m | CN¥492.7m | CN¥406.5m | CN¥408.9m | CN¥419.7m | CN¥355.3m | CN¥336.9m | CN¥256.9m |
| Debt | CN¥19.3m | CN¥22.1m | CN¥38.1m | CN¥53.8m | CN¥135.0m | CN¥111.1m | CN¥3.8m | CN¥5.4m | CN¥7.0m | CN¥77.9m |
| Shareholders' equity | CN¥287.8m | CN¥307.9m | CN¥331.8m | CN¥364.9m | CN¥594.1m | CN¥662.0m | CN¥693.4m | CN¥689.2m | CN¥683.1m | CN¥685.0m |
| Shares outstanding | 381m | 435m | 318m | 312m | 391m | 395m | 440m | 47m | 400m | 400m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥502.4m | −CN¥446.0m | −CN¥404.2m | −CN¥250.4m | −CN¥176.9m | −CN¥804.2m | −CN¥573.2m | −CN¥549.0m | −CN¥288.0m | −CN¥116.0m |
| Capital spending | −CN¥1.9m | −CN¥3.2m | −CN¥5.3m | −CN¥23.7m | −CN¥62,999 | −CN¥307,924 | −CN¥14.3m | −CN¥24.6m | −CN¥54.7m | −CN¥5.9m |
| Free cash flow | −CN¥504.3m | −CN¥449.2m | −CN¥409.5m | −CN¥274.1m | −CN¥177.0m | −CN¥804.5m | −CN¥587.5m | −CN¥573.5m | −CN¥342.7m | −CN¥121.8m |
| Dividends paid | −CN¥5.7m | −CN¥8.3m | −CN¥4.3m | −CN¥55.9m | −CN¥3.8m | −CN¥41.9m | −CN¥27.0m | −CN¥12.1m | −CN¥126,158 | −CN¥2.1m |
Latest quarters
By quarter end
| Jun 2026 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥106.2m | CN¥107.9m | CN¥188.4m | CN¥196.1m | CN¥281.6m | CN¥178.6m | CN¥163.1m | CN¥244.7m |
| Gross profit | CN¥17.8m | CN¥5.5m | CN¥14.2m | CN¥43.8m | CN¥25.2m | CN¥35.8m | CN¥17.3m | CN¥43.6m |
| Operating income | −CN¥13.2m | −CN¥24.7m | −CN¥19.3m | CN¥5.0m | −CN¥12.0m | CN¥33.3m | −CN¥27.5m | CN¥9.0m |
| Net income | −CN¥19.0m | −CN¥25.3m | −CN¥22.2m | −CN¥1.1m | −CN¥18.3m | −CN¥4.5m | −CN¥29.6m | CN¥2.5m |
| Diluted earnings per share | -0.05 | -0.07 | -0.06 | -0.00 | -0.05 | -0.01 | -0.08 | 0.01 |
| Cash from operations | — | −CN¥107.0m | −CN¥102.0m | −CN¥84.0m | — | −CN¥74.0m | −CN¥132.0m | −CN¥100.0m |
| Capital spending | −CN¥1.0m | — | — | −CN¥1.0m | −CN¥1.0m | — | −CN¥2.0m | — |
| Free cash flow | — | — | — | −CN¥85.0m | — | — | −CN¥134.0m | — |
| Total assets | CN¥678.3m | CN¥771.9m | CN¥811.4m | CN¥821.8m | CN¥976.2m | CN¥877.8m | CN¥882.3m | CN¥809.8m |
| Cash and short-term investments | — | CN¥8.7m | CN¥28.4m | CN¥25.9m | CN¥8.1m | CN¥34.1m | CN¥11.5m | CN¥21.2m |
| Debt | — | CN¥16.5m | CN¥27.0m | CN¥28.6m | CN¥19.3m | CN¥19.3m | CN¥21.9m | CN¥24.1m |
| Shareholders' equity | CN¥203.6m | CN¥261.9m | CN¥269.7m | CN¥288.2m | CN¥287.8m | CN¥304.5m | CN¥290.5m | CN¥314.2m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | — | 14.0% | 17.1% | 19.4% | 21.3% | 14.7% | 19.4% |
| Operating margin | — | -3.4% | -5.6% | -3.4% | 4.0% | -7.7% | 2.1% |
| Net margin | — | -5.7% | -8.6% | -6.3% | 0.6% | -11.2% | -3.2% |
| Return on equity | — | -17.3% | -23.7% | -15.6% | 1.0% | -11.4% | -4.7% |
| Return on assets | — | -5.1% | -8.1% | -5.5% | 0.4% | -6.3% | -2.7% |
| Free cash flow yield | — | -52.3% | -40.6% | -50.0% | -29.0% | -18.0% | -81.1% |
| Revenue growth | — | 2.2% | 3.5% | 21.0% | 11.5% | -37.7% | -4.9% |
| Earnings growth | — | -31.5% | 40.8% | -1474.5% | -105.5% | 116.9% | -846.0% |
| Current ratio | — | 1.26x | 1.29x | 1.21x | 1.25x | 2.22x | 2.36x |
| Debt to equity | — | 0.07x | 0.07x | 0.06x | 0.09x | 0.40x | 0.17x |
| Equity ratio | — | 29.5% | 34.4% | 35.1% | 42.6% | 55.0% | 57.9% |
| Interest coverage | — | -2.15x | -2.95x | -2.47x | 3.73x | -5.09x | 1.14x |
| R&D as a share of sales | — | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% |
| Buybacks as a share of market value | 6.3% | 12.3% | -36.9% | -1.9% | 20.4% | 0.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.6% | -2.3% | 23.0% |
| Operating income | — | — | 35.9% |
| Net income | — | 9.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.5% | 17.8% | 17.7% | 18.5% |
| Operating margin | -4.5% | -1.9% | -2.2% | 0.5% |
| Net margin | -7.1% | -5.3% | -5.6% | -3.2% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -22.6 | -22.1 | -25.3 | 336.9 | -14.3 | -52.8 | 380.1 | 64.2 | — | — |
| Price to sales | 1.3 | 1.9 | 1.6 | 1.9 | 1.6 | 1.7 | 1.6 | 0.4 | 7.6 | 12.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 8 Jul 2003.
| FY2003 | |
|---|---|
| Paid in the year | 0.05 |
- 2-for-1 split · 26 Oct 2015
- 1-to-1 reverse split · 17 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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