D 
6.21
-0.16%
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¥436.1m
FY2016FY2025
Net income
−CN¥19.2m
FY2016FY2025
Free cash flow
−CN¥994.5m
FY2016FY2025
Shareholders' equity
CN¥651.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥436.1m | CN¥405.4m | CN¥366.8m | CN¥421.1m | CN¥780.0m | CN¥1.07bn | CN¥1.43bn | CN¥1.70bn | CN¥1.64bn | CN¥1.44bn |
| Research and development | CN¥14.6m | CN¥16.5m | CN¥15.9m | CN¥14.8m | CN¥36.8m | CN¥49.8m | CN¥57.6m | CN¥52.2m | CN¥38.7m | CN¥54.8m |
| Operating income | −CN¥52.6m | CN¥4.4m | CN¥176.5m | −CN¥591.7m | −CN¥653.4m | −CN¥1.22bn | −CN¥497.3m | CN¥232.5m | CN¥151.5m | CN¥117.4m |
| Net income | −CN¥19.2m | −CN¥22.1m | CN¥82.6m | −CN¥745.4m | −CN¥718.7m | −CN¥1.23bn | −CN¥624.4m | CN¥153.7m | CN¥134.2m | CN¥100.9m |
| Diluted earnings per share | -0.01 | -0.01 | 0.08 | -0.49 | -0.49 | -0.80 | -0.43 | 0.11 | 0.09 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.10bn | CN¥1.68bn | CN¥1.96bn | CN¥1.11bn | CN¥1.87bn | CN¥3.64bn | CN¥4.26bn | CN¥5.40bn | CN¥5.87bn | CN¥5.05bn |
| Cash and short-term investments | — | CN¥173.9m | CN¥1.16bn | CN¥152.8m | CN¥45.6m | CN¥718.4m | CN¥1.05bn | CN¥1.24bn | CN¥1.91bn | CN¥1.12bn |
| Total liabilities | CN¥2.44bn | CN¥1.01bn | CN¥1.33bn | CN¥1.78bn | CN¥1.78bn | CN¥2.32bn | CN¥1.72bn | CN¥2.22bn | CN¥2.79bn | CN¥2.07bn |
| Debt | CN¥643.4m | CN¥604.8m | CN¥271.2m | CN¥1.41bn | CN¥1.41bn | CN¥1.37bn | CN¥1.11bn | CN¥1.28bn | CN¥1.92bn | CN¥1.39bn |
| Shareholders' equity | CN¥651.5m | CN¥666.0m | CN¥624.8m | −CN¥672.7m | CN¥82.0m | CN¥1.32bn | CN¥2.53bn | CN¥3.18bn | CN¥3.07bn | CN¥2.97bn |
| Shares outstanding | 1,662m | 1,836m | 1,057m | 1,519m | 1,479m | 1,526m | 1,454m | 1,432m | 1,502m | 1,591m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥81.6m | CN¥24.6m | −CN¥12.6m | CN¥168.3m | −CN¥418.2m | −CN¥325.4m | CN¥69.9m | CN¥415.0m | CN¥395.1m | CN¥56.0m |
| Capital spending | −CN¥1.08bn | −CN¥97.2m | −CN¥34.6m | −CN¥25.7m | −CN¥8.8m | −CN¥82.7m | −CN¥134.7m | −CN¥47.9m | −CN¥63.4m | −CN¥76.1m |
| Free cash flow | −CN¥994.5m | −CN¥72.6m | −CN¥47.2m | CN¥142.6m | −CN¥426.9m | −CN¥408.1m | −CN¥64.7m | CN¥367.1m | CN¥331.7m | −CN¥20.1m |
| Dividends paid | −CN¥21.9m | −CN¥54.5m | — | −CN¥14.6m | −CN¥47.8m | −CN¥83.5m | −CN¥14.1m | −CN¥172.0m | −CN¥142.5m | −CN¥113.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥134.8m | CN¥124.5m | CN¥123.0m | CN¥107.4m | CN¥103.0m | CN¥102.7m | CN¥99.2m | CN¥101.2m |
| Operating income | −CN¥7.3m | −CN¥15.1m | −CN¥25.6m | −CN¥31.3m | CN¥20.7m | CN¥63.6m | CN¥12.2m | CN¥16.0m |
| Net income | −CN¥37.9m | −CN¥31.9m | −CN¥57.2m | −CN¥30.1m | CN¥17.1m | CN¥51.1m | CN¥5.7m | CN¥9.6m |
| Diluted earnings per share | -0.02 | -0.02 | -0.03 | -0.02 | 0.01 | 0.03 | 0.00 | 0.01 |
| Cash from operations | — | — | — | −CN¥12.0m | CN¥62.0m | — | — | CN¥32.0m |
| Capital spending | −CN¥66.0m | −CN¥287.0m | −CN¥6.0m | −CN¥34.0m | −CN¥614.0m | −CN¥421.0m | −CN¥54.0m | −CN¥28.0m |
| Free cash flow | — | — | — | −CN¥46.0m | −CN¥552.0m | — | — | CN¥4.0m |
| Total assets | CN¥4.07bn | CN¥3.63bn | CN¥3.10bn | CN¥3.02bn | CN¥2.97bn | CN¥2.30bn | CN¥1.68bn | CN¥1.79bn |
| Cash and short-term investments | — | — | — | CN¥126.5m | CN¥169.9m | CN¥125.5m | CN¥173.9m | CN¥348.7m |
| Debt | CN¥1.32bn | CN¥907.9m | CN¥643.4m | CN¥185.6m | CN¥714.0m | CN¥292.8m | CN¥20.0m | CN¥200.0m |
| Shareholders' equity | CN¥584.6m | CN¥621.1m | CN¥651.5m | CN¥711.2m | CN¥736.9m | CN¥717.1m | CN¥666.0m | CN¥606.1m |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -12.1% | 1.1% | 48.1% | -140.5% | -83.8% | -113.7% |
| Net margin | -4.4% | -5.5% | 22.5% | -177.0% | -92.1% | -114.7% |
| Return on equity | -2.9% | -3.3% | 13.2% | 110.8% | -876.1% | -93.2% |
| Return on assets | -0.6% | -1.3% | 4.2% | -67.2% | -38.5% | -33.7% |
| Free cash flow yield | 9.1% | 0.9% | 0.3% | 1.7% | -3.6% | -2.1% |
| Revenue growth | 7.6% | 10.5% | -12.9% | -46.0% | -27.0% | -25.1% |
| Earnings growth | -13.3% | -126.8% | -111.1% | 3.7% | -41.4% | 96.4% |
| Current ratio | 0.48x | 0.89x | 1.25x | 0.27x | 0.80x | 1.43x |
| Debt to equity | 0.99x | 0.16x | 0.45x | -1.99x | 17.16x | 0.96x |
| Equity ratio | 21.0% | 39.7% | 31.9% | -60.6% | 4.4% | 36.1% |
| Interest coverage | -0.93x | 0.19x | 1.89x | -3.84x | -7.46x | -14.12x |
| R&D as a share of sales | 3.3% | 4.1% | 4.3% | 3.5% | 4.7% | 4.7% |
| Buybacks as a share of market value | 9.5% | -73.7% | 30.4% | -2.7% | 3.0% | -4.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.2% | -16.4% | -7.9% |
| Operating income | -55.4% | -46.6% | — |
| Net income | -70.5% | -56.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -5.7% | -28.4% | -67.0% | -21.6% |
| Net margin | -4.9% | -43.2% | -76.2% | -26.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -620.3 | -379.9 | 40.8 | -3.3 | -3.7 | -3.2 | -10.0 | 30.1 | 53.8 | 109.2 |
| Price to sales | 27.3 | 20.7 | 9.2 | 5.8 | 3.4 | 3.7 | 4.4 | 2.7 | 4.4 | 7.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.058 | 0.05 | 0.009 | 0.016 | 0.028 | 0.055 | 0.015 |
- 1.263-for-1 split · 29 Dec 2023
- 3-for-2 split · 14 May 2008
- 3-for-2 split · 6 Jun 2007
- 1-to-1 reverse split · 2 Nov 2005
- 6-for-5 split · 10 Jun 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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