Z 
2.07
-1.43%
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¥577.3m
FY2016FY2025
Net income
−CN¥114.2m
FY2016FY2025
Free cash flow
CN¥24.0m
FY2016FY2025
Shareholders' equity
CN¥1.64bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥577.3m | CN¥521.4m | CN¥638.6m | CN¥506.0m | CN¥581.1m | CN¥727.5m | CN¥696.2m | CN¥572.9m | CN¥981.0m | CN¥1.10bn |
| Research and development | CN¥12.2m | CN¥12.0m | CN¥16.2m | CN¥18.2m | CN¥24.7m | CN¥23.4m | CN¥61.3m | CN¥55.5m | CN¥13.8m | CN¥35.4m |
| Operating income | −CN¥62.3m | −CN¥628.6m | −CN¥337.4m | −CN¥778.4m | −CN¥184.0m | CN¥46.2m | −CN¥557.5m | −CN¥1.52bn | CN¥260.9m | CN¥360.6m |
| Net income | −CN¥114.2m | −CN¥620.2m | −CN¥343.9m | −CN¥799.3m | −CN¥211.3m | CN¥3.2m | −CN¥369.5m | −CN¥1.89bn | CN¥169.3m | CN¥294.2m |
| Diluted earnings per share | -0.06 | -0.31 | -0.17 | -0.40 | -0.11 | 0.00 | -0.20 | -0.95 | 0.09 | 0.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.97bn | CN¥2.12bn | CN¥3.02bn | CN¥3.71bn | CN¥4.46bn | CN¥4.53bn | CN¥4.78bn | CN¥5.62bn | CN¥7.27bn | CN¥7.14bn |
| Cash and short-term investments | — | CN¥403.7m | CN¥584.0m | CN¥612.2m | CN¥643.6m | CN¥698.6m | CN¥604.9m | CN¥1.03bn | CN¥1.91bn | CN¥1.69bn |
| Total liabilities | CN¥343.6m | CN¥377.9m | CN¥428.4m | CN¥776.0m | CN¥729.2m | CN¥545.4m | CN¥888.5m | CN¥1.36bn | CN¥1.13bn | CN¥1.13bn |
| Debt | — | CN¥16.4m | CN¥15.4m | CN¥273.0m | CN¥283.9m | CN¥37.0m | CN¥135.7m | CN¥268.7m | CN¥374.4m | CN¥278.7m |
| Shareholders' equity | CN¥1.64bn | CN¥1.75bn | CN¥2.45bn | CN¥2.80bn | CN¥3.60bn | CN¥3.80bn | CN¥3.69bn | CN¥4.05bn | CN¥5.99bn | CN¥5.86bn |
| Shares outstanding | 2,005m | 1,994m | 1,992m | 2,015m | 2,002m | 2,065m | 1,815m | 2,005m | 1,990m | 1,995m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥56.1m | CN¥32.6m | CN¥2.8m | CN¥25.5m | CN¥94.0m | CN¥248.2m | CN¥614.6m | −CN¥267.8m | −CN¥358.3m | CN¥296.6m |
| Capital spending | −CN¥32.1m | −CN¥12.8m | −CN¥27.3m | −CN¥26.0m | −CN¥63.0m | −CN¥99.7m | −CN¥765.6m | −CN¥169.3m | −CN¥55.7m | −CN¥111.5m |
| Free cash flow | CN¥24.0m | CN¥19.8m | −CN¥24.5m | −CN¥429,312 | CN¥31.0m | CN¥148.4m | −CN¥151.1m | −CN¥437.1m | −CN¥414.0m | CN¥185.1m |
| Dividends paid | −CN¥32,959 | −CN¥324,381 | −CN¥102,975 | −CN¥105,628 | −CN¥1.1m | −CN¥4.4m | −CN¥11.2m | −CN¥59.6m | −CN¥47.2m | −CN¥59.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥150.5m | CN¥108.8m | CN¥144.2m | CN¥130.3m | CN¥161.4m | CN¥141.5m | CN¥137.5m | CN¥132.1m |
| Operating income | −CN¥22.6m | −CN¥23.1m | −CN¥25.7m | −CN¥6.4m | −CN¥2.7m | −CN¥19.7m | −CN¥546.5m | −CN¥28.5m |
| Net income | −CN¥22.2m | −CN¥20.0m | −CN¥80.4m | −CN¥9.6m | −CN¥6.4m | −CN¥17.8m | −CN¥527.8m | −CN¥27.1m |
| Diluted earnings per share | -0.01 | -0.01 | -0.04 | -0.00 | -0.00 | -0.01 | -0.26 | -0.01 |
| Cash from operations | — | — | — | CN¥26.0m | CN¥18.0m | CN¥24.0m | CN¥25.0m | CN¥20.0m |
| Capital spending | −CN¥7.0m | −CN¥8.0m | — | −CN¥20.0m | −CN¥5.0m | −CN¥6.0m | −CN¥4.0m | −CN¥3.0m |
| Free cash flow | — | — | — | CN¥6.0m | CN¥13.0m | CN¥18.0m | CN¥21.0m | CN¥17.0m |
| Total assets | CN¥1.94bn | CN¥1.95bn | CN¥1.97bn | CN¥2.07bn | CN¥2.08bn | CN¥2.09bn | CN¥2.12bn | CN¥2.65bn |
| Cash and short-term investments | — | — | — | CN¥437.3m | CN¥436.3m | CN¥424.8m | CN¥403.7m | CN¥383.3m |
| Debt | — | — | — | CN¥2.7m | — | — | — | — |
| Shareholders' equity | CN¥1.59bn | CN¥1.62bn | CN¥1.64bn | CN¥1.72bn | CN¥1.73bn | CN¥1.73bn | CN¥1.75bn | CN¥2.28bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -20.9% | -120.1% | -51.8% | -155.3% | -29.5% | 6.6% | — |
| Net margin | -19.8% | -119.0% | -53.9% | -158.0% | -36.4% | 0.4% | — |
| Return on equity | -7.0% | -35.5% | -14.0% | -28.6% | -5.9% | 0.1% | — |
| Return on assets | -5.8% | -29.2% | -11.4% | -21.5% | -4.7% | 0.1% | — |
| Free cash flow yield | 2.1% | 1.1% | 0.7% | 1.2% | 3.7% | 8.0% | — |
| Revenue growth | 10.7% | -18.4% | 26.2% | -12.9% | -20.1% | 4.5% | — |
| Earnings growth | -81.6% | 80.3% | -57.0% | 278.3% | -6663.9% | -100.9% | — |
| Current ratio | 3.52x | 3.69x | 4.52x | 3.97x | 4.73x | 4.45x | — |
| Debt to equity | — | 0.00x | 0.00x | 0.01x | 0.00x | 0.01x | 0.02x |
| Equity ratio | 82.9% | 82.5% | 81.3% | 75.4% | 80.7% | 83.9% | — |
| Interest coverage | -181.88x | -579.56x | -42.85x | -51.01x | -10.48x | 8.94x | — |
| R&D as a share of sales | 2.1% | 2.3% | 2.5% | 3.6% | 4.2% | 3.2% | — |
| Buybacks as a share of market value | -0.5% | -0.1% | 1.2% | -0.7% | 3.1% | -13.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.5% | -4.5% | -4.6% |
| Operating income | -56.9% | — | — |
| Net income | -47.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -62.9% | -80.5% | -54.7% | -42.6% |
| Net margin | -66.8% | -83.7% | -58.7% | -48.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -44.1 | -4.2 | -10.0 | -4.7 | -18.6 | — | -8.6 | -2.4 | 91.3 | 60.5 |
| Price to sales | 8.7 | 5.0 | 5.4 | 7.5 | 6.8 | 4.0 | 4.6 | 8.0 | 15.8 | 16.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Aug 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2012 | |
|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.018 | 0.007 | 0.007 | 0.004 |
- 14-for-5 split · 13 Jul 2017
- 1.148-for-1 split · 10 Aug 2006
- 3-for-2 split · 8 Jul 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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