F 
1.78
-1.66%
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¥88.1m
FY2016FY2025
Net income
−CN¥145.6m
FY2016FY2025
Free cash flow
−CN¥94.7m
FY2016FY2025
Shareholders' equity
CN¥252.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥88.1m | CN¥308.7m | CN¥335.5m | CN¥262.3m | CN¥921.8m | CN¥1.15bn | CN¥1.56bn | CN¥6.76bn | CN¥6.47bn | CN¥4.23bn |
| Research and development | CN¥32.4m | CN¥32.3m | CN¥25.9m | CN¥18.0m | CN¥63.9m | CN¥105.5m | CN¥133.1m | CN¥124.4m | CN¥126.8m | CN¥58.0m |
| Operating income | −CN¥60.2m | CN¥9.5m | CN¥45.5m | −CN¥36.2m | CN¥741.0m | −CN¥375.8m | −CN¥1.88bn | CN¥289.9m | CN¥216.6m | CN¥155.9m |
| Net income | −CN¥145.6m | CN¥5.7m | CN¥37.2m | −CN¥97.6m | CN¥689.9m | −CN¥591.1m | −CN¥3.05bn | −CN¥267.2m | CN¥186.7m | CN¥183.8m |
| Diluted earnings per share | -0.07 | 0.00 | 0.02 | -0.04 | 1.11 | -0.95 | -4.89 | -0.43 | 0.30 | 0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.13bn | CN¥1.08bn | CN¥845.1m | CN¥927.6m | CN¥1.63bn | CN¥2.11bn | CN¥2.53bn | CN¥7.34bn | CN¥8.23bn | CN¥7.12bn |
| Cash and short-term investments | — | CN¥253.3m | CN¥236.2m | CN¥309.3m | CN¥909.5m | CN¥64.4m | CN¥215.7m | CN¥299.4m | CN¥1.17bn | CN¥1.03bn |
| Total liabilities | CN¥880.5m | CN¥683.6m | CN¥452.9m | CN¥572.5m | CN¥1.17bn | CN¥3.27bn | CN¥3.09bn | CN¥4.73bn | CN¥5.35bn | CN¥4.58bn |
| Debt | — | CN¥211.8m | CN¥124.3m | CN¥168.1m | CN¥161.5m | CN¥1.70bn | CN¥1.74bn | CN¥1.70bn | CN¥2.09bn | CN¥1.42bn |
| Shareholders' equity | CN¥252.3m | CN¥397.9m | CN¥392.3m | CN¥355.1m | CN¥455.1m | −CN¥1.16bn | −CN¥559.4m | CN¥2.61bn | CN¥2.87bn | CN¥2.53bn |
| Shares outstanding | 2,178m | 2,176m | 2,178m | 2,178m | 622m | 623m | 623m | 623m | 623m | 591m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥89.7m | −CN¥150.9m | −CN¥19.3m | CN¥85.0m | −CN¥37.7m | −CN¥67.4m | −CN¥197.5m | −CN¥246.1m | −CN¥293.4m | CN¥121.4m |
| Capital spending | −CN¥5.0m | −CN¥10.9m | −CN¥12.2m | −CN¥7.7m | −CN¥8.4m | −CN¥10.1m | −CN¥10.4m | −CN¥125.0m | −CN¥45.0m | −CN¥27.5m |
| Free cash flow | −CN¥94.7m | −CN¥161.8m | −CN¥31.6m | CN¥77.3m | −CN¥46.1m | −CN¥77.5m | −CN¥207.9m | −CN¥371.2m | −CN¥338.4m | CN¥93.8m |
| Dividends paid | −CN¥3.6m | −CN¥1.7m | −CN¥6.0m | −CN¥6.3m | −CN¥7.6m | −CN¥14.8m | −CN¥109.2m | −CN¥113.6m | −CN¥45.4m | −CN¥32.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥31.2m | CN¥75.8m | −CN¥46.4m | CN¥28.5m | CN¥64.4m | CN¥41.5m | CN¥245.2m | CN¥30.2m |
| Operating income | −CN¥3.6m | −CN¥5.6m | −CN¥3.7m | −CN¥18.8m | −CN¥27.2m | −CN¥20.2m | −CN¥12.0m | −CN¥13.9m |
| Net income | −CN¥15.9m | −CN¥12.5m | −CN¥58.1m | −CN¥32.1m | −CN¥35.9m | −CN¥19.6m | −CN¥30.9m | −CN¥14.8m |
| Diluted earnings per share | -0.01 | -0.01 | -0.03 | -0.01 | -0.02 | -0.01 | -0.01 | -0.01 |
| Cash from operations | — | — | — | — | −CN¥17.0m | −CN¥14.0m | — | — |
| Capital spending | — | — | — | — | −CN¥3.0m | — | −CN¥9.0m | — |
| Free cash flow | — | — | — | — | −CN¥20.0m | — | — | — |
| Total assets | CN¥1.43bn | CN¥1.44bn | CN¥1.13bn | CN¥1.12bn | CN¥1.09bn | CN¥1.06bn | CN¥1.08bn | CN¥980.9m |
| Cash and short-term investments | — | — | — | CN¥219.8m | CN¥230.9m | CN¥239.6m | CN¥253.3m | CN¥279.6m |
| Debt | CN¥307.9m | CN¥244.3m | — | CN¥255.9m | CN¥205.8m | CN¥195.8m | CN¥196.8m | CN¥153.8m |
| Shareholders' equity | CN¥213.3m | CN¥229.2m | CN¥252.3m | CN¥310.3m | CN¥342.4m | CN¥378.3m | CN¥397.9m | CN¥428.8m |
Financial ratios
Data as of 6 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -111.9% | -17.4% | 10.4% | -13.8% | -19.7% | -32.6% | — |
| Net margin | -165.2% | 1.8% | 11.1% | -37.2% | 74.8% | -51.3% | — |
| Return on equity | -57.7% | 1.4% | 9.5% | -27.5% | 151.6% | 50.8% | — |
| Return on assets | -12.9% | 0.5% | 4.4% | -10.5% | 42.4% | -28.0% | — |
| Free cash flow yield | -2.1% | -3.5% | -0.2% | 2.3% | -2.5% | -4.9% | — |
| Revenue growth | -71.4% | -8.0% | 27.9% | -71.5% | -19.9% | -26.0% | — |
| Earnings growth | -2676.0% | -84.8% | -138.1% | -114.1% | -216.7% | -80.6% | — |
| Current ratio | 1.07x | 1.13x | 0.99x | 1.01x | 1.11x | 0.39x | — |
| Debt to equity | — | 0.49x | 0.30x | 0.39x | 0.35x | -1.46x | -3.06x |
| Equity ratio | 22.3% | 36.7% | 46.4% | 38.3% | 28.0% | -55.1% | — |
| Interest coverage | -4.58x | -2.43x | 1.62x | -1.52x | -0.96x | -1.67x | — |
| R&D as a share of sales | 36.7% | 10.5% | 7.7% | 6.8% | 6.9% | 9.2% | — |
| Buybacks as a share of market value | -0.1% | 0.1% | 0.0% | -250.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -30.5% | -40.2% | -11.8% |
| Operating income | 18.5% | -30.7% | — |
| Net income | 14.3% | -24.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -12.8% | -4.2% | 10.6% | -3.3% |
| Net margin | -35.3% | -20.1% | -3.3% | -12.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -68.8 | — | 213.8 | -82.2 | 1.2 | -0.6 | -0.6 | -6.6 | 14.1 | 25.4 |
| Price to sales | 113.7 | 25.4 | 23.7 | 30.6 | 0.9 | 0.3 | 1.2 | 0.3 | 0.4 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Jun 1998.
| FY1998 | FY1997 | |
|---|---|---|
| Paid in the year | 0.20 | 0.20 |
- 2.325-for-1 split · 15 Feb 2022
- 1-to-1 reverse split · 26 Dec 2008
- 3-for-2 split · 10 Mar 1997
- 3-for-2 split · 15 Nov 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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