S 
5.17
-0.58%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.35bn
FY2016FY2025
Net income
−CN¥330.4m
FY2016FY2025
Free cash flow
CN¥276.5m
FY2016FY2025
Shareholders' equity
CN¥4.83bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.35bn | CN¥4.44bn | CN¥5.21bn | CN¥6.02bn | CN¥7.51bn | CN¥7.77bn | CN¥8.70bn | CN¥9.67bn | CN¥9.32bn | CN¥8.46bn |
| Gross profit | CN¥109.4m | CN¥86.8m | CN¥309.3m | CN¥112.1m | CN¥380.7m | CN¥172.5m | CN¥626.9m | CN¥829.6m | CN¥959.9m | CN¥998.5m |
| Research and development | CN¥58.9m | CN¥47.3m | CN¥48.1m | CN¥74.7m | CN¥89.8m | CN¥84.8m | CN¥89.7m | CN¥90.6m | CN¥82.5m | CN¥73.2m |
| Operating income | −CN¥371.8m | −CN¥388.8m | −CN¥62.9m | −CN¥36.2m | −CN¥88.7m | −CN¥337.1m | CN¥128.5m | CN¥378.5m | CN¥598.1m | CN¥372.1m |
| Net income | −CN¥330.4m | −CN¥391.1m | CN¥9.2m | CN¥28.6m | CN¥11.7m | −CN¥204.7m | CN¥126.8m | CN¥326.1m | CN¥446.0m | CN¥307.7m |
| Diluted earnings per share | -0.40 | -0.37 | 0.01 | 0.03 | 0.01 | -0.19 | 0.11 | 0.35 | 0.42 | 0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.02bn | CN¥7.35bn | CN¥7.88bn | CN¥7.84bn | CN¥8.25bn | CN¥8.36bn | CN¥9.08bn | CN¥9.17bn | CN¥8.86bn | CN¥9.12bn |
| Cash and short-term investments | — | CN¥2.80bn | CN¥2.65bn | CN¥1.87bn | CN¥1.80bn | CN¥1.98bn | CN¥2.23bn | CN¥1.75bn | CN¥1.71bn | CN¥2.63bn |
| Total liabilities | CN¥2.15bn | CN¥2.15bn | CN¥2.30bn | CN¥2.31bn | CN¥2.67bn | CN¥2.42bn | CN¥2.84bn | CN¥2.94bn | CN¥2.89bn | CN¥3.36bn |
| Debt | — | CN¥597.8m | CN¥611.3m | CN¥702.9m | CN¥636.8m | CN¥191.0m | CN¥843.5m | CN¥919.1m | CN¥868.9m | CN¥1.13bn |
| Shareholders' equity | CN¥4.83bn | CN¥5.16bn | CN¥5.54bn | CN¥5.53bn | CN¥5.50bn | CN¥5.59bn | CN¥5.84bn | CN¥5.81bn | CN¥5.63bn | CN¥5.32bn |
| Shares outstanding | 830m | 1,045m | 1,146m | 1,028m | 1,138m | 1,078m | 1,172m | 925m | 1,064m | 929m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥430.3m | CN¥263.1m | CN¥442.7m | CN¥178.3m | CN¥458.4m | CN¥528.7m | CN¥487.5m | CN¥428.4m | CN¥342.9m | CN¥564.2m |
| Capital spending | −CN¥153.8m | −CN¥88.3m | −CN¥120.4m | −CN¥113.8m | −CN¥231.3m | −CN¥180.6m | −CN¥207.1m | −CN¥379.3m | −CN¥400.9m | −CN¥451.8m |
| Free cash flow | CN¥276.5m | CN¥174.8m | CN¥322.3m | CN¥64.6m | CN¥227.1m | CN¥348.1m | CN¥280.4m | CN¥49.0m | −CN¥58.0m | CN¥112.4m |
| Dividends paid | −CN¥4.4m | −CN¥2.5m | −CN¥2.6m | −CN¥9.8m | −CN¥6.9m | −CN¥41.1m | −CN¥102.8m | −CN¥181.3m | −CN¥158.6m | −CN¥158.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.21bn | CN¥863.0m | CN¥1.12bn | CN¥1.04bn | CN¥1.12bn | CN¥1.07bn | CN¥1.41bn | CN¥1.03bn |
| Gross profit | CN¥102.0m | CN¥27.5m | −CN¥12.5m | CN¥31.0m | CN¥43.5m | CN¥47.4m | −CN¥25.6m | CN¥21.2m |
| Operating income | −CN¥60.6m | −CN¥65.2m | −CN¥169.0m | −CN¥72.0m | −CN¥38.6m | −CN¥64.1m | −CN¥160.0m | −CN¥96.0m |
| Net income | CN¥83.8m | −CN¥61.7m | −CN¥301.6m | CN¥32.6m | −CN¥7.0m | −CN¥54.4m | −CN¥166.1m | −CN¥94.2m |
| Diluted earnings per share | 0.10 | -0.07 | -0.36 | 0.04 | -0.01 | -0.07 | -0.16 | -0.09 |
| Cash from operations | — | — | — | CN¥132.0m | CN¥97.0m | −CN¥40.0m | CN¥149.0m | CN¥72.0m |
| Capital spending | −CN¥109.0m | −CN¥63.0m | −CN¥117.0m | −CN¥22.0m | −CN¥3.0m | −CN¥9.0m | −CN¥27.0m | −CN¥17.0m |
| Free cash flow | — | — | — | CN¥110.0m | CN¥94.0m | −CN¥49.0m | CN¥122.0m | CN¥55.0m |
| Total assets | CN¥7.37bn | CN¥6.77bn | CN¥7.02bn | CN¥7.11bn | CN¥7.11bn | CN¥7.13bn | CN¥7.35bn | CN¥7.26bn |
| Cash and short-term investments | — | — | — | CN¥2.96bn | CN¥2.85bn | CN¥2.78bn | CN¥2.80bn | CN¥2.75bn |
| Debt | — | — | — | CN¥274.1m | CN¥105.2m | CN¥247.1m | CN¥100.4m | CN¥109.1m |
| Shareholders' equity | CN¥4.88bn | CN¥4.77bn | CN¥4.83bn | CN¥5.13bn | CN¥5.10bn | CN¥5.10bn | CN¥5.16bn | CN¥5.32bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 9.0% | 2.0% | 5.9% | 1.9% | 5.1% | 2.2% | — |
| Operating margin | -6.6% | -8.0% | 1.9% | 1.1% | 1.0% | -2.5% | — |
| Net margin | -7.6% | -8.8% | 0.2% | 0.5% | 0.2% | -2.6% | — |
| Return on equity | -6.8% | -7.6% | 0.2% | 0.5% | 0.2% | -3.7% | — |
| Return on assets | -4.7% | -5.3% | 0.1% | 0.4% | 0.1% | -2.4% | — |
| Free cash flow yield | 10.5% | 5.0% | 7.4% | 4.3% | 9.1% | 9.9% | — |
| Revenue growth | -2.0% | -14.9% | -13.4% | -19.9% | -3.4% | -10.6% | — |
| Earnings growth | -15.5% | -4361.1% | -67.9% | 144.5% | -105.7% | -261.5% | — |
| Current ratio | 2.94x | 3.06x | 2.96x | 2.80x | 2.20x | 2.13x | — |
| Debt to equity | — | 0.02x | 0.02x | 0.02x | 0.01x | -0.01x | 0.14x |
| Equity ratio | 68.8% | 70.1% | 70.3% | 70.5% | 66.6% | 66.9% | — |
| Interest coverage | -10.69x | -11.48x | 3.26x | 1.59x | 2.20x | -7.92x | — |
| R&D as a share of sales | 1.4% | 1.1% | 0.9% | 1.2% | 1.2% | 1.1% | — |
| Buybacks as a share of market value | 20.6% | 8.7% | -11.4% | 9.6% | -5.6% | 8.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.3% | -11.0% | -6.2% |
| Operating income | 117.4% | 2.0% | — |
| Net income | — | 10.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.2% | 3.1% | 3.3% | 7.1% |
| Operating margin | -8.7% | -4.3% | -3.6% | 0.8% |
| Net margin | -8.2% | -3.4% | -2.5% | 0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -14.8 | -12.1 | — | 139.4 | 421.1 | -25.8 | 39.9 | 12.2 | 15.7 | 27.1 |
| Price to sales | 1.1 | 1.1 | 1.0 | 0.7 | 0.7 | 0.7 | 0.6 | 0.4 | 0.8 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Jul 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.10 | 0.14 | 0.10 | 0.12 | 0.12 | 0.11 | 0.10 |
- 13-for-10 split · 14 May 2009
- 1.15-for-1 split · 30 May 2006
- 1-to-1 reverse split · 27 Dec 2005
- 2-for-1 split · 18 Oct 2004
- 13-for-10 split · 23 Apr 1999
- 3-for-2 split · 3 Jun 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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