N 
12.61
+7.87%
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¥300.5m
FY2016FY2025
Net income
−CN¥99.9m
FY2016FY2025
Free cash flow
−CN¥116.2m
FY2016FY2025
Shareholders' equity
CN¥324.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥300.5m | CN¥662.5m | CN¥474.0m | CN¥519.9m | CN¥469.6m | CN¥366.0m | CN¥657.7m | CN¥990.5m | CN¥1.61bn | CN¥1.66bn |
| Gross profit | CN¥53.2m | −CN¥113.6m | −CN¥72.4m | −CN¥29.4m | −CN¥4.7m | −CN¥10.4m | −CN¥11.5m | CN¥59.1m | CN¥163.3m | CN¥222.7m |
| Research and development | CN¥12.8m | CN¥18.4m | CN¥10.5m | CN¥17.1m | CN¥16.7m | CN¥2.5m | CN¥2.8m | CN¥1.4m | CN¥1.6m | CN¥2.8m |
| Operating income | −CN¥114.2m | −CN¥484.1m | −CN¥265.7m | −CN¥183.4m | −CN¥209.6m | CN¥68.7m | −CN¥163.0m | CN¥35.0m | −CN¥283.1m | CN¥108.3m |
| Net income | −CN¥99.9m | −CN¥448.7m | −CN¥184.9m | −CN¥177.0m | −CN¥164.7m | CN¥11.0m | −CN¥131.4m | CN¥6.2m | −CN¥303.0m | CN¥90.8m |
| Diluted earnings per share | -0.27 | -1.24 | -0.51 | -0.48 | -0.46 | 0.03 | -0.43 | 0.04 | -1.00 | 0.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.24bn | CN¥1.48bn | CN¥1.59bn | CN¥1.92bn | CN¥2.11bn | CN¥2.31bn | CN¥1.93bn | CN¥2.10bn | CN¥1.85bn | CN¥2.23bn |
| Cash and short-term investments | — | CN¥33.5m | CN¥37.5m | CN¥262.5m | CN¥388.6m | CN¥500.1m | CN¥730.8m | CN¥68.1m | CN¥111.2m | CN¥163.4m |
| Total liabilities | CN¥931.0m | CN¥1.07bn | CN¥685.1m | CN¥791.0m | CN¥767.5m | CN¥767.2m | CN¥531.9m | CN¥573.7m | CN¥695.8m | CN¥738.7m |
| Debt | CN¥4.0m | CN¥336.5m | CN¥352.1m | CN¥210.0m | CN¥114.9m | CN¥42.0m | CN¥98.3m | CN¥13.7m | — | — |
| Shareholders' equity | CN¥324.1m | CN¥423.7m | CN¥872.5m | CN¥1.05bn | CN¥1.23bn | CN¥1.40bn | CN¥1.39bn | CN¥1.52bn | CN¥1.14bn | CN¥1.48bn |
| Shares outstanding | 374m | 362m | 363m | 366m | 357m | 374m | 307m | 143m | 302m | 288m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥111.6m | −CN¥154.2m | −CN¥170.1m | −CN¥78.0m | −CN¥88.9m | CN¥54.1m | −CN¥84.4m | −CN¥96.5m | −CN¥164.0m | CN¥359.5m |
| Capital spending | −CN¥4.6m | −CN¥96.7m | −CN¥68.7m | −CN¥132.3m | −CN¥396.4m | −CN¥279.1m | −CN¥17.6m | −CN¥17.4m | −CN¥21.7m | −CN¥13.7m |
| Free cash flow | −CN¥116.2m | −CN¥250.9m | −CN¥238.8m | −CN¥210.3m | −CN¥485.3m | −CN¥225.1m | −CN¥101.9m | −CN¥113.9m | −CN¥185.7m | CN¥345.8m |
| Dividends paid | −CN¥13.9m | −CN¥14.3m | −CN¥9.7m | −CN¥10.9m | −CN¥7.5m | −CN¥7.5m | −CN¥3.7m | −CN¥3.7m | −CN¥37.7m | −CN¥14.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥187.3m | CN¥247.1m | CN¥136.8m | CN¥37.3m | CN¥53.3m | CN¥73.1m | CN¥204.7m | CN¥174.2m |
| Gross profit | CN¥69.3m | CN¥53.4m | CN¥25.2m | CN¥6.2m | −CN¥23.1m | −CN¥25.6m | −CN¥78.5m | −CN¥24.1m |
| Operating income | CN¥35.4m | CN¥13.9m | −CN¥6.1m | CN¥34.4m | −CN¥39.0m | −CN¥56.4m | −CN¥296.0m | −CN¥107.6m |
| Net income | CN¥34.8m | CN¥12.2m | −CN¥47.9m | CN¥36.9m | −CN¥35.7m | −CN¥53.2m | −CN¥289.7m | −CN¥89.0m |
| Diluted earnings per share | 0.09 | 0.03 | -0.13 | 0.10 | -0.10 | -0.14 | -0.80 | -0.25 |
| Cash from operations | — | — | — | −CN¥35.0m | CN¥7.0m | −CN¥110.0m | — | −CN¥42.0m |
| Capital spending | −CN¥50.0m | −CN¥50.0m | — | — | −CN¥1.0m | −CN¥3.0m | −CN¥59.0m | −CN¥10.0m |
| Free cash flow | — | — | — | — | CN¥6.0m | −CN¥113.0m | — | −CN¥52.0m |
| Total assets | CN¥2.40bn | CN¥1.81bn | CN¥1.24bn | CN¥1.25bn | CN¥1.37bn | CN¥1.54bn | CN¥1.48bn | CN¥1.75bn |
| Cash and short-term investments | — | — | — | CN¥21.7m | CN¥52.3m | CN¥75.5m | CN¥33.5m | CN¥73.0m |
| Debt | CN¥108.8m | CN¥102.9m | CN¥4.0m | CN¥173.1m | CN¥391.2m | CN¥454.2m | CN¥336.2m | CN¥350.7m |
| Shareholders' equity | CN¥1.58bn | CN¥1.12bn | CN¥324.1m | CN¥372.4m | CN¥335.5m | CN¥370.7m | CN¥423.7m | CN¥714.6m |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.7% | -17.1% | -15.3% | -5.7% | -1.0% | -2.8% |
| Operating margin | -30.1% | -71.0% | -52.5% | -35.3% | -29.1% | 20.9% |
| Net margin | -33.3% | -67.7% | -39.0% | -34.0% | -35.1% | 3.0% |
| Return on equity | -30.8% | -105.9% | -21.2% | -16.8% | -13.4% | 0.8% |
| Return on assets | -8.1% | -30.2% | -11.6% | -9.2% | -7.8% | 0.5% |
| Free cash flow yield | -2.2% | -1.2% | -2.2% | 1.1% | 6.6% | 6.9% |
| Revenue growth | -54.6% | 39.8% | -8.8% | 10.7% | 28.3% | -44.4% |
| Earnings growth | -77.7% | 142.6% | 4.5% | 7.5% | -1593.2% | -108.4% |
| Current ratio | 0.33x | 0.59x | 0.86x | 1.25x | 1.52x | 1.66x |
| Debt to equity | 0.01x | 0.79x | 0.40x | 0.19x | 0.09x | 0.22x |
| Equity ratio | 26.1% | 28.5% | 54.9% | 54.7% | 58.2% | 60.7% |
| Interest coverage | -5.03x | -37.94x | -40.88x | -50.01x | -35.29x | 275.06x |
| R&D as a share of sales | 4.3% | 2.8% | 2.2% | 3.3% | 3.5% | 0.7% |
| Buybacks as a share of market value | -3.5% | 0.2% | 1.0% | -2.7% | 4.6% | -21.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.7% | -3.9% | -15.0% |
| Operating income | -14.6% | — | — |
| Net income | -17.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -6.3% | -8.3% | -6.3% | 4.9% |
| Operating margin | -62.1% | -53.5% | -42.5% | -10.5% |
| Net margin | -57.0% | -46.5% | -38.1% | -10.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -63.3 | -14.3 | -11.3 | -10.3 | -13.4 | 147.7 | -10.8 | 106.0 | -8.4 | 41.8 |
| Price to sales | 21.0 | 9.7 | 4.4 | 3.5 | 4.7 | 4.5 | 2.2 | 0.7 | 1.6 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Jul 2021.
| FY2021 | FY2019 | FY2017 | FY2016 | FY2015 | FY2014 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.01 | 0.12 | 0.035 | 0.03 | 0.03 | 0.05 | 0.033 |
- 6-for-5 split · 21 Jun 2010
- 6-for-5 split · 15 Jul 2008
- 11-for-10 split · 18 Jun 2007
- 1-to-1 reverse split · 1 Nov 2006
- 6-for-5 split · 8 Jul 2004
- 13-for-10 split · 25 May 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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