T 
6.93
-1.84%
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¥3.24bn
FY2016FY2025
Net income
−CN¥914.3m
FY2016FY2025
Free cash flow
−CN¥1.17bn
FY2016FY2025
Shareholders' equity
CN¥3.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.24bn | CN¥4.59bn | CN¥6.60bn | CN¥5.03bn | CN¥3.63bn | CN¥3.38bn | CN¥1.85bn | CN¥1.40bn | CN¥1.50bn | CN¥392.1m |
| Research and development | CN¥133.9m | CN¥185.1m | CN¥251.5m | CN¥173.8m | CN¥154.3m | CN¥120.7m | CN¥66.8m | CN¥62.8m | CN¥54.4m | CN¥21.3m |
| Operating income | −CN¥847.5m | −CN¥667.9m | CN¥579.1m | CN¥545.0m | CN¥471.8m | CN¥652.3m | CN¥169.0m | CN¥106.1m | CN¥91.0m | CN¥33.2m |
| Net income | −CN¥914.3m | −CN¥609.9m | CN¥394.7m | CN¥409.0m | CN¥255.8m | CN¥372.9m | CN¥54.0m | CN¥15.6m | CN¥87.7m | CN¥11.5m |
| Diluted earnings per share | -1.40 | -0.97 | 0.59 | 0.65 | 0.40 | 0.68 | 0.10 | 0.03 | 0.16 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥13.61bn | CN¥12.31bn | CN¥12.43bn | CN¥10.57bn | CN¥9.27bn | CN¥5.60bn | CN¥5.24bn | CN¥4.50bn | CN¥3.98bn | CN¥1.36bn |
| Cash and short-term investments | — | CN¥140.4m | CN¥273.5m | CN¥689.0m | CN¥1.12bn | CN¥338.3m | CN¥432.9m | CN¥276.1m | CN¥204.2m | CN¥157.5m |
| Total liabilities | CN¥9.98bn | CN¥7.93bn | CN¥7.37bn | CN¥5.95bn | CN¥4.92bn | CN¥3.81bn | CN¥3.83bn | CN¥3.16bn | CN¥2.65bn | CN¥833.6m |
| Debt | CN¥3.17bn | CN¥4.37bn | CN¥4.34bn | CN¥2.87bn | CN¥2.62bn | CN¥2.28bn | CN¥2.00bn | CN¥1.61bn | CN¥1.18bn | CN¥579.2m |
| Shareholders' equity | CN¥3.10bn | CN¥4.02bn | CN¥4.63bn | CN¥4.23bn | CN¥3.84bn | CN¥1.77bn | CN¥1.30bn | CN¥1.25bn | CN¥1.12bn | CN¥523.3m |
| Shares outstanding | 653m | 630m | 668m | 625m | 642m | 551m | 560m | 566m | 554m | 527m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥736.0m | −CN¥393.9m | CN¥143.5m | −CN¥398.0m | CN¥136.3m | CN¥354.1m | CN¥22.5m | −CN¥80.2m | −CN¥310.8m | CN¥30.6m |
| Capital spending | −CN¥430.9m | −CN¥635.1m | −CN¥1.86bn | −CN¥926.0m | −CN¥1.69bn | −CN¥237.8m | −CN¥281.1m | −CN¥316.0m | −CN¥40.4m | −CN¥56.2m |
| Free cash flow | −CN¥1.17bn | −CN¥1.03bn | −CN¥1.72bn | −CN¥1.32bn | −CN¥1.55bn | CN¥116.3m | −CN¥258.6m | −CN¥396.2m | −CN¥351.2m | −CN¥25.6m |
| Dividends paid | −CN¥131.1m | −CN¥115.4m | −CN¥111.1m | −CN¥101.0m | −CN¥118.2m | −CN¥120.4m | −CN¥95.9m | −CN¥66.8m | −CN¥54.5m | −CN¥6.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥510.5m | CN¥673.0m | CN¥566.8m | CN¥1.00bn | CN¥781.6m | CN¥891.8m | CN¥899.7m | CN¥715.9m |
| Operating income | −CN¥426.4m | −CN¥294.7m | −CN¥44.1m | −CN¥146.3m | −CN¥355.5m | −CN¥148.5m | −CN¥492.8m | −CN¥202.9m |
| Net income | −CN¥485.2m | −CN¥353.3m | −CN¥318.1m | −CN¥147.3m | −CN¥323.9m | −CN¥125.1m | −CN¥362.6m | −CN¥192.5m |
| Diluted earnings per share | -0.74 | -0.54 | -0.49 | -0.23 | -0.50 | -0.19 | -0.58 | -0.31 |
| Cash from operations | — | — | — | CN¥9.0m | −CN¥445.0m | −CN¥299.0m | −CN¥313.0m | −CN¥61.0m |
| Capital spending | −CN¥1.0m | −CN¥2.0m | −CN¥99.0m | −CN¥104.0m | −CN¥85.0m | −CN¥141.0m | −CN¥249.0m | −CN¥51.0m |
| Free cash flow | — | — | — | −CN¥95.0m | −CN¥530.0m | −CN¥440.0m | −CN¥562.0m | −CN¥112.0m |
| Total assets | CN¥12.84bn | CN¥13.57bn | CN¥13.61bn | CN¥13.56bn | CN¥13.63bn | CN¥12.42bn | CN¥12.31bn | CN¥12.68bn |
| Cash and short-term investments | — | — | — | CN¥168.4m | CN¥147.7m | CN¥361.2m | CN¥140.4m | CN¥323.4m |
| Debt | CN¥2.68bn | CN¥2.80bn | CN¥3.17bn | CN¥3.33bn | CN¥5.42bn | CN¥5.08bn | CN¥4.37bn | CN¥4.18bn |
| Shareholders' equity | CN¥2.26bn | CN¥2.75bn | CN¥3.10bn | CN¥3.42bn | CN¥3.57bn | CN¥3.89bn | CN¥4.02bn | CN¥4.38bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -26.2% | -14.5% | 9.1% | 11.3% | 13.7% | 20.4% |
| Net margin | -28.2% | -13.3% | 6.0% | 8.1% | 7.1% | 11.0% |
| Return on equity | -29.5% | -15.2% | 8.5% | 9.7% | 6.7% | 21.1% |
| Return on assets | -6.7% | -5.0% | 3.2% | 3.9% | 2.8% | 6.7% |
| Free cash flow yield | -6.6% | 5.4% | 42.6% | 12.0% | 40.4% | 15.2% |
| Revenue growth | -29.4% | -30.3% | 31.1% | 38.7% | 7.2% | 82.3% |
| Earnings growth | 49.9% | -254.5% | -3.5% | 59.9% | -31.4% | 590.5% |
| Current ratio | 0.46x | 0.65x | 1.04x | 0.98x | 0.85x | 0.71x |
| Debt to equity | 1.02x | 1.09x | 0.94x | 0.68x | 0.68x | 1.22x |
| Equity ratio | 22.8% | 32.6% | 37.2% | 40.1% | 41.5% | 31.5% |
| Interest coverage | -7.14x | -5.74x | 6.06x | 5.84x | 3.43x | 4.66x |
| R&D as a share of sales | 4.1% | 4.0% | 3.8% | 3.5% | 4.3% | 3.6% |
| Buybacks as a share of market value | -3.6% | 5.6% | -6.8% | 2.5% | -16.5% | 1.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.6% | -0.8% | 17.2% |
| Operating income | — | — | 16.5% |
| Net income | — | — | 17.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -19.3% | -2.0% | 2.8% | 2.9% |
| Net margin | -19.4% | -3.7% | -0.3% | -0.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.0 | -9.8 | 23.7 | 30.6 | 92.5 | 28.8 | 167.3 | 402.2 | 127.3 | — |
| Price to sales | 2.0 | 1.3 | 1.4 | 2.5 | 6.5 | 3.2 | 4.9 | 4.5 | 7.4 | 34.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jun 1996.
| FY1996 | FY1995 | |
|---|---|---|
| Paid in the year | 0.037 | 0.074 |
- 1-to-1 reverse split · 8 Jun 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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