J 
3.27
+6.51%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.23bn
FY2016FY2025
Net income
−CN¥422.9m
FY2016FY2025
Free cash flow
CN¥235.2m
FY2016FY2025
Shareholders' equity
CN¥1.39bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.23bn | CN¥1.96bn | CN¥2.33bn | CN¥2.34bn | CN¥2.34bn | CN¥2.38bn | CN¥2.54bn | CN¥2.48bn | CN¥2.72bn | CN¥3.04bn |
| Gross profit | CN¥764.0m | CN¥624.5m | CN¥834.9m | CN¥790.2m | CN¥712.8m | CN¥655.1m | CN¥752.9m | CN¥677.7m | CN¥685.7m | CN¥694.0m |
| Research and development | CN¥16.4m | CN¥17.2m | CN¥18.6m | CN¥21.4m | CN¥13.0m | CN¥7.7m | CN¥10.1m | CN¥9.1m | CN¥7.1m | CN¥46.0m |
| Operating income | −CN¥234.6m | −CN¥227.4m | CN¥55.2m | CN¥20.2m | CN¥106.9m | CN¥213.3m | CN¥208.4m | CN¥258.4m | CN¥790.6m | CN¥204.4m |
| Net income | −CN¥422.9m | −CN¥238.2m | CN¥30.0m | CN¥15.0m | CN¥77.0m | CN¥145.0m | CN¥169.5m | CN¥207.1m | CN¥610.0m | CN¥159.4m |
| Diluted earnings per share | -0.19 | -0.10 | 0.00 | 0.01 | 0.03 | 0.05 | 0.07 | 0.07 | 0.25 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.91bn | CN¥4.38bn | CN¥5.27bn | CN¥4.74bn | CN¥4.89bn | CN¥4.66bn | CN¥5.49bn | CN¥5.48bn | CN¥5.45bn | CN¥9.84bn |
| Cash and short-term investments | — | CN¥1.18bn | CN¥1.42bn | CN¥963.0m | CN¥1.04bn | CN¥1.14bn | CN¥1.76bn | CN¥979.2m | CN¥1.46bn | CN¥1.48bn |
| Total liabilities | CN¥1.46bn | CN¥1.78bn | CN¥2.25bn | CN¥1.69bn | CN¥1.64bn | CN¥911.0m | CN¥1.35bn | CN¥1.43bn | CN¥848.8m | CN¥5.37bn |
| Debt | CN¥120.0m | CN¥787.4m | CN¥1.36bn | CN¥729.9m | CN¥848.0m | CN¥140.7m | CN¥500.7m | CN¥600.0m | CN¥90.0m | CN¥1.72bn |
| Shareholders' equity | CN¥1.39bn | CN¥2.54bn | CN¥2.95bn | CN¥2.99bn | CN¥3.14bn | CN¥3.59bn | CN¥3.98bn | CN¥3.98bn | CN¥4.54bn | CN¥4.10bn |
| Shares outstanding | 2,200m | 2,291m | 6,122m | 2,303m | 2,596m | 3,165m | 2,480m | 2,918m | 2,412m | 2,273m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥280.8m | −CN¥185.4m | CN¥456.0m | CN¥107.3m | CN¥2.6m | CN¥243.1m | CN¥167.7m | −CN¥36.0m | −CN¥1.42bn | −CN¥1.07bn |
| Capital spending | −CN¥45.7m | −CN¥58.8m | −CN¥412.9m | −CN¥146.5m | −CN¥36.1m | −CN¥78.8m | −CN¥233.0m | −CN¥130.2m | −CN¥97.2m | −CN¥157.3m |
| Free cash flow | CN¥235.2m | −CN¥244.2m | CN¥43.0m | −CN¥39.1m | −CN¥33.5m | CN¥164.3m | −CN¥65.2m | −CN¥166.2m | −CN¥1.52bn | −CN¥1.23bn |
| Dividends paid | −CN¥17.4m | −CN¥79.8m | −CN¥101.5m | −CN¥149.7m | −CN¥275.0m | −CN¥119.2m | −CN¥121.9m | −CN¥383.1m | −CN¥273.7m | −CN¥163.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥342.8m | CN¥685.7m | CN¥1.10bn | CN¥265.6m | CN¥313.8m | CN¥554.2m | CN¥470.0m | CN¥407.7m |
| Gross profit | CN¥98.8m | CN¥288.4m | CN¥410.9m | CN¥81.2m | CN¥78.3m | CN¥193.6m | CN¥33.9m | CN¥155.5m |
| Operating income | −CN¥94.0m | CN¥34.7m | −CN¥77.3m | −CN¥110.1m | −CN¥78.3m | −CN¥35.2m | −CN¥246.2m | −CN¥39.0m |
| Net income | −CN¥100.0m | CN¥5.6m | −CN¥204.2m | −CN¥109.7m | −CN¥78.8m | −CN¥30.2m | −CN¥241.5m | −CN¥40.9m |
| Diluted earnings per share | -0.05 | 0.00 | -0.09 | -0.05 | -0.04 | -0.01 | -0.11 | -0.02 |
| Cash from operations | — | — | — | CN¥4.0m | CN¥58.0m | −CN¥35.0m | — | −CN¥181.0m |
| Capital spending | −CN¥3.0m | −CN¥1.0m | −CN¥33.0m | −CN¥1.0m | −CN¥3.0m | −CN¥6.0m | −CN¥13.0m | −CN¥10.0m |
| Free cash flow | — | — | — | CN¥3.0m | CN¥55.0m | −CN¥41.0m | — | −CN¥191.0m |
| Total assets | CN¥2.85bn | CN¥3.10bn | CN¥2.91bn | CN¥3.69bn | CN¥3.91bn | CN¥4.15bn | CN¥4.38bn | CN¥4.62bn |
| Cash and short-term investments | — | — | — | CN¥847.2m | CN¥983.9m | CN¥1.10bn | CN¥1.18bn | CN¥1.10bn |
| Debt | CN¥120.0m | — | CN¥120.0m | CN¥632.2m | CN¥579.7m | CN¥620.9m | CN¥650.4m | CN¥638.0m |
| Shareholders' equity | CN¥1.29bn | CN¥1.39bn | CN¥1.39bn | CN¥2.33bn | CN¥2.44bn | CN¥2.52bn | CN¥2.54bn | CN¥2.83bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 34.3% | 31.9% | 35.8% | 33.7% | 30.4% | 27.5% |
| Operating margin | -15.6% | -8.9% | 3.6% | 2.3% | 5.5% | 9.5% |
| Net margin | -19.0% | -12.2% | 1.3% | 0.6% | 3.3% | 6.1% |
| Return on equity | -30.5% | -9.4% | 1.0% | 0.5% | 2.5% | 4.0% |
| Return on assets | -14.5% | -5.4% | 0.6% | 0.3% | 1.6% | 3.1% |
| Free cash flow yield | 3.7% | -1.4% | 3.6% | 2.8% | 0.4% | 2.6% |
| Revenue growth | 13.8% | -15.9% | -0.5% | -0.1% | -1.7% | -6.1% |
| Earnings growth | 77.6% | -893.8% | 99.5% | -80.5% | -46.9% | -14.4% |
| Current ratio | 0.88x | 1.40x | 1.33x | 1.31x | 1.49x | 2.17x |
| Debt to equity | 0.09x | 0.26x | 0.30x | 0.16x | 0.16x | 0.05x |
| Equity ratio | 47.7% | 58.1% | 56.1% | 63.1% | 64.1% | 77.0% |
| Interest coverage | -13.46x | -3.51x | 2.66x | 1.47x | 4.88x | 15.28x |
| R&D as a share of sales | 0.7% | 0.9% | 0.8% | 0.9% | 0.6% | 0.3% |
| Buybacks as a share of market value | 4.0% | 62.6% | -165.8% | 11.3% | 18.0% | -27.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.6% | -1.3% | -1.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 33.2% | 34.0% | 32.2% | 29.0% |
| Operating margin | -11.0% | -4.4% | -0.5% | 5.6% |
| Net margin | -15.8% | -7.0% | -2.9% | 3.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.4 | -23.9 | — | — | 127.5 | 69.0 | 49.2 | 52.9 | 20.3 | 79.3 |
| Price to sales | 2.4 | 2.9 | 7.3 | 4.0 | 4.2 | 4.2 | 3.3 | 4.4 | 4.5 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Sept 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.03 | 0.065 | 0.12 | 0.05 | 0.05 | 0.143 | 0.065 |
- 7-for-5 split · 8 May 2018
- 11-for-10 split · 24 May 2017
- 2-for-1 split · 29 Mar 2016
- 13-for-10 split · 20 Jun 2011
- 11-for-10 split · 25 Jun 2007
- 13-for-10 split · 31 May 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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