D 
2.08
-0.95%
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¥380.0m
FY2016FY2025
Net income
−CN¥73.4m
FY2016FY2025
Free cash flow
CN¥92.0m
FY2016FY2025
Shareholders' equity
CN¥3.46bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥380.0m | CN¥352.8m | CN¥161.5m | CN¥211.5m | CN¥524.8m | CN¥1.08bn | CN¥2.35bn | CN¥2.11bn | CN¥956.0m |
| Research and development | CN¥113,380 | CN¥591,604 | CN¥986,201 | CN¥4.0m | CN¥4.0m | CN¥7.3m | CN¥19.1m | CN¥22.1m | CN¥26.4m |
| Operating income | −CN¥50.8m | −CN¥37.1m | CN¥88.6m | CN¥29.7m | CN¥118.7m | CN¥290.2m | CN¥604.7m | CN¥305.8m | CN¥152.0m |
| Net income | −CN¥73.4m | −CN¥34.4m | CN¥58.0m | CN¥76.5m | CN¥96.3m | CN¥150.2m | CN¥123.9m | CN¥225.3m | CN¥128.8m |
| Diluted earnings per share | -0.05 | -0.02 | 0.04 | 0.05 | 0.06 | 0.09 | 0.08 | 0.14 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.65bn | CN¥4.43bn | CN¥4.22bn | CN¥4.88bn | CN¥5.05bn | CN¥5.66bn | CN¥6.57bn | CN¥6.15bn | CN¥6.53bn |
| Cash and short-term investments | — | CN¥772.4m | CN¥873.2m | CN¥1.40bn | CN¥65.5m | CN¥465.8m | CN¥598.1m | CN¥536.7m | CN¥659.5m |
| Total liabilities | CN¥1.13bn | CN¥786.1m | CN¥592.8m | CN¥1.19bn | CN¥1.36bn | CN¥1.89bn | CN¥2.60bn | CN¥2.46bn | CN¥2.77bn |
| Debt | CN¥198.0m | CN¥331.1m | CN¥1.6m | CN¥305.2m | CN¥343.1m | CN¥421.6m | CN¥841.6m | CN¥1.23bn | CN¥10.0m |
| Shareholders' equity | CN¥3.46bn | CN¥3.58bn | CN¥3.65bn | CN¥3.71bn | CN¥3.71bn | CN¥3.79bn | CN¥3.96bn | CN¥3.59bn | CN¥3.75bn |
| Shares outstanding | 1,602m | 1,601m | 1,602m | 1,602m | 1,603m | 1,603m | 1,601m | 1,603m | 1,604m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥92.1m | −CN¥223.7m | −CN¥331.2m | −CN¥165.3m | −CN¥271.5m | CN¥235.1m | −CN¥36.1m | −CN¥449.4m | CN¥974.9m |
| Capital spending | −CN¥62,943 | −CN¥443,506 | −CN¥69,912 | −CN¥85.3m | −CN¥2.3m | −CN¥3.8m | −CN¥5.3m | −CN¥26.7m | −CN¥102.7m |
| Free cash flow | CN¥92.0m | −CN¥224.1m | −CN¥331.3m | −CN¥250.5m | −CN¥273.8m | CN¥231.2m | −CN¥41.3m | −CN¥476.1m | CN¥872.2m |
| Dividends paid | −CN¥7.7m | −CN¥7.7m | −CN¥2.7m | −CN¥8.0m | −CN¥8.0m | −CN¥28.8m | −CN¥8.0m | −CN¥81.1m | −CN¥12.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥52.5m | CN¥92.1m | CN¥210.6m | CN¥25.6m | CN¥58.7m | CN¥79.2m | CN¥90.0m | CN¥106.4m |
| Operating income | −CN¥11.6m | −CN¥6.8m | −CN¥15.3m | −CN¥20.2m | −CN¥12.1m | CN¥1.6m | −CN¥50.6m | CN¥3.6m |
| Net income | −CN¥10.7m | −CN¥5.2m | −CN¥47.3m | −CN¥15.6m | −CN¥11.8m | CN¥1.3m | −CN¥36.1m | −CN¥1.4m |
| Diluted earnings per share | -0.01 | -0.00 | -0.03 | -0.01 | -0.01 | 0.00 | -0.02 | -0.00 |
| Cash from operations | — | — | — | CN¥146.0m | −CN¥9.0m | −CN¥60.0m | — | CN¥57.0m |
| Total assets | CN¥4.62bn | CN¥4.58bn | CN¥4.65bn | CN¥4.66bn | CN¥4.49bn | CN¥4.38bn | CN¥4.43bn | CN¥4.32bn |
| Cash and short-term investments | — | — | — | CN¥741.4m | CN¥887.5m | CN¥806.7m | CN¥772.4m | CN¥771.3m |
| Debt | CN¥139.8m | CN¥198.0m | CN¥198.0m | CN¥10.5m | CN¥369.0m | CN¥268.8m | CN¥263.8m | CN¥200.0m |
| Shareholders' equity | CN¥3.44bn | CN¥3.45bn | CN¥3.46bn | CN¥3.55bn | CN¥3.57bn | CN¥3.58bn | CN¥3.58bn | CN¥3.64bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2012 | FY2010 | FY2007 | FY2004 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -20.1% | -8.9% | 59.6% | 14.1% | 29.5% | 13.0% | — | — | — | — | — |
| Net margin | -19.3% | -9.8% | 35.9% | 36.2% | 18.4% | 13.9% | — | — | — | — | — |
| Return on equity | -2.1% | -1.0% | 1.6% | 2.1% | 2.6% | 4.0% | — | — | — | — | — |
| Return on assets | -1.6% | -0.8% | 1.4% | 1.6% | 1.9% | 2.7% | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | 7.4% | -17.4% | -0.5% | 2.1% |
| Revenue growth | 7.7% | 118.5% | -23.6% | -59.7% | -51.4% | -54.0% | — | — | — | — | — |
| Earnings growth | 113.2% | -159.4% | -24.2% | -20.6% | -35.9% | 21.2% | — | — | — | — | — |
| Current ratio | 3.80x | 6.80x | 5.52x | 3.05x | 1.76x | 1.76x | — | — | — | — | — |
| Debt to equity | 0.06x | 0.09x | — | 0.00x | 0.02x | 0.08x | 0.21x | — | — | — | — |
| Equity ratio | 74.3% | 80.7% | 86.3% | 76.2% | 73.5% | 67.0% | — | — | — | — | — |
| Interest coverage | -1475.53x | -4.91x | 47.72x | 1.27x | 4.22x | 3.37x | — | — | — | — | — |
| R&D as a share of sales | 0.0% | 0.2% | 0.6% | 1.9% | 0.8% | 0.7% | — | — | — | — | — |
| Buybacks as a share of market value | -0.1% | 0.1% | 0.0% | 0.1% | -0.0% | -0.1% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.6% | -18.8% | -1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -12.0% | 2.7% | 16.2% | 17.4% |
| Net margin | -14.7% | 2.4% | 10.1% | 8.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -58.5 | -120.9 | 70.5 | 57.0 | 53.6 | 38.9 | 41.1 | 246.2 | 46.6 | 103.2 |
| Price to sales | 11.3 | 11.8 | 25.3 | 20.6 | 9.8 | 5.4 | 2.2 | 12.6 | 5.0 | 13.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jun 2024.
| FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.004 | 0.005 | 0.005 | 0.018 | 0.005 | 0.005 | 0.024 | 0.004 |
- 8-for-5 split · 29 Aug 2011
- 1.35-for-1 split · 14 Apr 2011
- 1.027-for-1 split · 16 Jul 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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