B 
8.16
+0.12%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.52bn
FY2016FY2025
Net income
−CN¥53.6m
FY2016FY2025
Free cash flow
−CN¥69.8m
FY2016FY2025
Shareholders' equity
CN¥857.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.52bn | CN¥1.65bn | CN¥1.41bn | CN¥1.37bn | CN¥1.18bn | CN¥1.09bn | CN¥1.20bn | CN¥1.12bn | CN¥1.20bn | CN¥889.5m |
| Gross profit | CN¥233.8m | CN¥289.5m | CN¥181.4m | CN¥165.8m | CN¥107.3m | CN¥68.1m | CN¥76.4m | CN¥69.8m | CN¥179.1m | CN¥69.0m |
| Research and development | CN¥87.0m | CN¥69.0m | CN¥66.4m | CN¥47.6m | CN¥26.5m | CN¥26.6m | CN¥14.3m | CN¥11.8m | CN¥10.6m | CN¥10.8m |
| Operating income | −CN¥66.4m | CN¥40.0m | −CN¥54.2m | CN¥35.1m | −CN¥28.9m | CN¥139.6m | −CN¥159.9m | −CN¥138.1m | CN¥53.5m | −CN¥199.9m |
| Net income | −CN¥53.6m | CN¥7.5m | −CN¥51.7m | CN¥18.3m | −CN¥23.3m | CN¥156.4m | −CN¥130.0m | −CN¥93.9m | CN¥20.9m | −CN¥148.8m |
| Diluted earnings per share | -0.10 | 0.01 | -0.13 | 0.07 | -0.05 | 0.30 | -0.32 | -0.58 | 0.06 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.13bn | CN¥3.09bn | CN¥2.81bn | CN¥2.43bn | CN¥1.57bn | CN¥1.71bn | CN¥1.67bn | CN¥1.78bn | CN¥1.93bn | CN¥1.85bn |
| Cash and short-term investments | CN¥622.7m | CN¥483.0m | CN¥502.8m | CN¥336.6m | CN¥105.8m | CN¥279.1m | CN¥83.5m | CN¥61.2m | CN¥78.4m | CN¥118.8m |
| Total liabilities | CN¥1.52bn | CN¥1.67bn | CN¥1.43bn | CN¥1.03bn | CN¥607.0m | CN¥703.8m | CN¥970.2m | CN¥912.2m | CN¥900.7m | CN¥878.0m |
| Debt | CN¥689.3m | CN¥583.4m | CN¥444.0m | CN¥362.9m | CN¥90.8m | CN¥184.7m | CN¥352.6m | CN¥307.0m | CN¥301.1m | CN¥201.0m |
| Shareholders' equity | CN¥857.4m | CN¥1.08bn | CN¥1.07bn | CN¥1.07bn | CN¥677.7m | CN¥699.5m | CN¥337.3m | CN¥466.9m | CN¥588.4m | CN¥565.2m |
| Shares outstanding | 547m | 548m | 407m | 277m | 485m | 514m | 401m | 161m | 376m | 450m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.4m | −CN¥57.6m | CN¥66.4m | CN¥5.2m | −CN¥32.7m | −CN¥27.9m | CN¥85.9m | CN¥11.2m | −CN¥226.7m | −CN¥13.0m |
| Capital spending | −CN¥75.2m | −CN¥91.7m | −CN¥150.6m | −CN¥95.1m | −CN¥41.8m | −CN¥24.8m | −CN¥18.7m | −CN¥26.0m | −CN¥23.3m | −CN¥20.1m |
| Free cash flow | −CN¥69.8m | −CN¥149.3m | −CN¥84.3m | −CN¥89.9m | −CN¥74.5m | −CN¥52.7m | CN¥67.3m | −CN¥14.8m | −CN¥250.0m | −CN¥33.1m |
| Dividends paid | −CN¥10.9m | −CN¥5.2m | −CN¥4.8m | −CN¥4.6m | −CN¥6.7m | −CN¥20.1m | −CN¥17.0m | −CN¥33.4m | −CN¥19.6m | −CN¥17.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥342.7m | CN¥309.4m | CN¥446.6m | CN¥401.0m | CN¥357.2m | CN¥323.1m | CN¥534.0m | CN¥366.1m |
| Gross profit | CN¥33.0m | CN¥42.7m | CN¥60.5m | CN¥69.8m | CN¥55.5m | CN¥60.6m | CN¥116.0m | CN¥62.5m |
| Operating income | −CN¥24.1m | −CN¥16.5m | −CN¥74.8m | −CN¥4.7m | CN¥11.0m | −CN¥8.3m | CN¥43.5m | −CN¥7.2m |
| Net income | −CN¥30.4m | −CN¥32.2m | −CN¥26.0m | −CN¥11.9m | −CN¥3.8m | −CN¥11.9m | CN¥23.5m | −CN¥12.7m |
| Diluted earnings per share | -0.06 | -0.06 | -0.05 | -0.02 | -0.01 | -0.02 | 0.04 | -0.02 |
| Cash from operations | — | — | CN¥14.0m | CN¥81.0m | −CN¥31.0m | −CN¥58.0m | CN¥79.0m | CN¥6.0m |
| Capital spending | −CN¥10.0m | −CN¥10.0m | −CN¥25.0m | −CN¥20.0m | −CN¥14.0m | −CN¥14.0m | −CN¥34.0m | −CN¥21.0m |
| Free cash flow | — | — | −CN¥11.0m | CN¥61.0m | −CN¥45.0m | −CN¥72.0m | CN¥45.0m | −CN¥15.0m |
| Total assets | CN¥2.95bn | CN¥3.01bn | CN¥3.13bn | CN¥3.33bn | CN¥3.01bn | CN¥3.09bn | CN¥3.09bn | CN¥2.94bn |
| Cash and short-term investments | — | — | CN¥622.7m | CN¥736.4m | CN¥391.6m | CN¥433.8m | CN¥483.0m | CN¥400.1m |
| Debt | CN¥143.6m | CN¥153.4m | CN¥481.6m | CN¥402.1m | CN¥394.0m | CN¥378.4m | CN¥363.4m | CN¥300.0m |
| Shareholders' equity | CN¥793.9m | CN¥825.5m | CN¥857.4m | CN¥771.9m | CN¥1.07bn | CN¥1.08bn | CN¥1.08bn | CN¥1.06bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.3% | 17.6% | 12.9% | 12.1% | 9.1% | 6.3% |
| Operating margin | -4.4% | 3.5% | -2.5% | 2.6% | -2.3% | 12.8% |
| Net margin | -3.5% | 0.5% | -3.7% | 1.3% | -2.0% | 14.4% |
| Return on equity | -6.3% | 0.7% | -4.8% | 1.7% | -3.4% | 22.4% |
| Return on assets | -1.7% | 0.2% | -1.8% | 0.8% | -1.5% | 9.2% |
| Free cash flow yield | 1.9% | 0.8% | 7.1% | 4.8% | 0.2% | -0.1% |
| Revenue growth | -7.6% | 17.3% | 2.4% | 16.0% | 8.7% | -9.0% |
| Earnings growth | -817.3% | -114.5% | -382.1% | -178.7% | -114.9% | -220.3% |
| Current ratio | 1.98x | 1.53x | 1.65x | 1.72x | 1.32x | 1.33x |
| Debt to equity | 0.56x | 0.34x | 0.20x | 0.11x | 0.13x | 0.26x |
| Equity ratio | 27.4% | 35.1% | 37.9% | 44.0% | 43.2% | 41.0% |
| Interest coverage | -2.82x | 3.12x | -1.84x | 2.64x | -2.96x | 7.93x |
| R&D as a share of sales | 5.7% | 4.2% | 4.7% | 3.5% | 2.2% | 2.4% |
| Buybacks as a share of market value | 0.0% | -34.7% | -46.5% | 42.8% | 5.7% | -28.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.5% | 7.0% | 3.5% |
| Operating income | — | — | -13.9% |
| Net income | — | — | -12.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.5% | 14.6% | 12.7% | 10.2% |
| Operating margin | -0.8% | -0.8% | 0.8% | -4.9% |
| Net margin | -1.5% | -1.3% | 0.7% | -3.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -127.9 | — | -105.3 | 209.5 | -410.4 | 14.4 | -18.5 | -7.7 | 123.9 | -35.5 |
| Price to sales | 4.5 | 3.4 | 3.9 | 2.8 | 8.1 | 2.1 | 2.0 | 0.6 | 2.1 | 5.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Aug 2006.
| FY2006 | FY2002 | FY2001 | FY2000 | FY1999 | FY1998 | FY1997 | FY1996 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.12 | 0.10 | 0.055 | 0.08 | 0.08 | 0.10 | 0.085 |
- 1-to-1 reverse split · 31 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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