L 
12.50
+1.05%
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¥440.3m
FY2016FY2025
Net income
−CN¥21.8m
FY2016FY2025
Free cash flow
−CN¥46.7m
FY2016FY2025
Shareholders' equity
CN¥300.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥440.3m | CN¥480.1m | CN¥458.2m | CN¥588.6m | CN¥465.7m | CN¥207.3m | CN¥55.2m | CN¥93.1m | CN¥77.0m | CN¥190.0m |
| Research and development | — | — | CN¥1.2m | CN¥171,581 | — | — | — | — | — | — |
| Operating income | −CN¥24.5m | −CN¥39.1m | −CN¥99.5m | CN¥40.7m | CN¥41.4m | CN¥26.6m | −CN¥18.0m | CN¥18.2m | −CN¥62.4m | −CN¥31.4m |
| Net income | −CN¥21.8m | −CN¥29.6m | −CN¥77.6m | CN¥17.5m | CN¥14.5m | CN¥11.1m | −CN¥19.8m | CN¥10.0m | −CN¥50.7m | −CN¥10.5m |
| Diluted earnings per share | -0.08 | -0.13 | -0.35 | 0.09 | 0.05 | 0.06 | -0.10 | 0.03 | -0.22 | -0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥472.5m | CN¥477.4m | CN¥556.1m | CN¥701.4m | CN¥673.0m | CN¥603.1m | CN¥443.3m | CN¥502.3m | CN¥478.8m | CN¥584.1m |
| Cash and short-term investments | CN¥134.0m | CN¥169.1m | CN¥195.3m | CN¥316.8m | CN¥290.6m | CN¥318.1m | CN¥369.0m | CN¥409.0m | CN¥382.5m | CN¥443.5m |
| Total liabilities | CN¥115.8m | CN¥98.6m | CN¥127.8m | CN¥112.7m | CN¥138.2m | CN¥84.8m | CN¥21.0m | CN¥60.1m | CN¥51.1m | CN¥107.3m |
| Debt | CN¥63.6m | CN¥45.0m | CN¥41.2m | CN¥55.6m | CN¥64.0m | CN¥8.0m | — | — | — | — |
| Shareholders' equity | CN¥300.0m | CN¥321.8m | CN¥351.7m | CN¥450.4m | CN¥435.0m | CN¥421.4m | CN¥410.0m | CN¥429.9m | CN¥419.9m | CN¥470.6m |
| Shares outstanding | 282m | 221m | 223m | 188m | 274m | 201m | 190m | 314m | 233m | 149m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥46.1m | −CN¥3.4m | −CN¥97.4m | CN¥45.5m | −CN¥13.9m | CN¥33.5m | CN¥2.3m | CN¥8.5m | CN¥9.2m | −CN¥61.9m |
| Capital spending | −CN¥615,054 | −CN¥287,400 | −CN¥895,762 | −CN¥4.8m | −CN¥7.0m | −CN¥1.5m | −CN¥263,200 | −CN¥909,918 | −CN¥12.9m | −CN¥498,807 |
| Free cash flow | −CN¥46.7m | −CN¥3.7m | −CN¥98.3m | CN¥40.7m | −CN¥20.9m | CN¥32.1m | CN¥2.0m | CN¥7.6m | −CN¥3.8m | −CN¥62.4m |
| Dividends paid | −CN¥1.5m | −CN¥1.6m | −CN¥1.6m | −CN¥1.6m | −CN¥530,089 | −CN¥208,147 | −CN¥208,146 | −CN¥208,146 | −CN¥208,146 | −CN¥645,774 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥128.4m | CN¥114.1m | CN¥110.4m | CN¥103.2m | CN¥109.9m | CN¥116.8m | CN¥160.7m | CN¥95.8m |
| Operating income | CN¥3.0m | CN¥3.5m | −CN¥25.1m | −CN¥7.7m | CN¥4.0m | CN¥2.8m | −CN¥35.9m | CN¥1.5m |
| Net income | CN¥137,226 | CN¥526,268 | −CN¥17.9m | −CN¥4.5m | −CN¥20,895 | CN¥583,014 | −CN¥22.5m | −CN¥1.2m |
| Diluted earnings per share | 0.00 | 0.00 | -0.06 | -0.02 | -0.00 | 0.00 | -0.10 | -0.01 |
| Cash from operations | — | — | −CN¥12.0m | −CN¥48.0m | −CN¥5.0m | CN¥20.0m | — | −CN¥64.0m |
| Total assets | CN¥466.5m | CN¥463.8m | CN¥472.5m | CN¥493.6m | CN¥479.3m | CN¥503.5m | CN¥477.4m | CN¥502.6m |
| Cash and short-term investments | — | — | CN¥134.0m | CN¥134.5m | CN¥174.6m | CN¥193.1m | CN¥169.1m | CN¥122.7m |
| Debt | — | — | CN¥59.1m | CN¥51.6m | CN¥29.5m | CN¥42.3m | CN¥36.4m | CN¥28.7m |
| Shareholders' equity | CN¥300.6m | CN¥300.5m | CN¥300.0m | CN¥317.9m | CN¥322.4m | CN¥322.4m | CN¥321.8m | CN¥344.5m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -5.6% | -7.2% | -21.7% | 8.4% | 10.6% | 14.0% |
| Net margin | -5.0% | -6.2% | -16.9% | 3.0% | 3.1% | 5.4% |
| Return on equity | -7.3% | -9.2% | -22.1% | 3.9% | 3.3% | 2.6% |
| Return on assets | -4.6% | -6.2% | -14.0% | 2.5% | 2.1% | 1.8% |
| Free cash flow yield | -1.3% | -0.1% | -3.5% | 2.2% | -0.2% | 1.4% |
| Revenue growth | -8.3% | 4.8% | -22.2% | 26.4% | 124.6% | 275.7% |
| Earnings growth | -26.2% | -61.8% | -542.9% | 21.2% | 29.7% | -156.2% |
| Current ratio | 3.60x | 4.52x | 3.96x | 5.27x | 4.41x | 6.37x |
| Debt to equity | 0.20x | 0.11x | 0.10x | 0.10x | 0.10x | 0.02x |
| Equity ratio | 63.5% | 67.4% | 63.2% | 64.2% | 64.6% | 69.9% |
| Interest coverage | -12.37x | -9.81x | -41.86x | 16.14x | 28.75x | 106.73x |
| R&D as a share of sales | — | — | 0.3% | 0.0% | — | — |
| Buybacks as a share of market value | -27.7% | 0.6% | -18.3% | 31.4% | -36.6% | -5.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.2% | 16.3% | 17.0% |
| Operating income | — | — | -6.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -6.9% | -6.2% | -2.1% | -6.3% |
| Net margin | -5.6% | -5.7% | -3.3% | -4.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -131.7 | -51.8 | -20.6 | 70.0 | 154.1 | 132.4 | -65.0 | 199.6 | -77.3 | -242.6 |
| Price to sales | 6.5 | 3.2 | 3.5 | 2.1 | 4.8 | 7.1 | 23.4 | 21.6 | 50.9 | 13.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Jun 2009.
| FY2009 | FY2005 | FY2002 | |
|---|---|---|---|
| Paid in the year | 0.02 | 0.02 | 0.02 |
- 1-to-1 reverse split · 23 May 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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