S 
16.53
-0.24%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.75bn
FY2016FY2025
Net income
−CN¥288.1m
FY2016FY2025
Free cash flow
CN¥93.1m
FY2016FY2025
Shareholders' equity
CN¥1.60bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.75bn | CN¥1.60bn | CN¥1.93bn | CN¥2.72bn | CN¥3.14bn | CN¥3.94bn | CN¥3.67bn | CN¥5.25bn | CN¥5.06bn | CN¥3.98bn |
| Gross profit | CN¥256.4m | CN¥119.4m | −CN¥100.2m | CN¥508.6m | CN¥615.3m | CN¥659.4m | CN¥618.5m | CN¥737.6m | CN¥674.0m | CN¥601.3m |
| Research and development | CN¥124.1m | CN¥102.7m | CN¥30.9m | CN¥29.7m | CN¥68.5m | CN¥79.4m | CN¥119.1m | CN¥121.4m | CN¥89.2m | CN¥59.5m |
| Operating income | −CN¥143.2m | −CN¥253.2m | −CN¥521.8m | CN¥67.3m | CN¥198.7m | CN¥164.6m | CN¥117.7m | CN¥288.5m | CN¥239.0m | CN¥218.3m |
| Net income | −CN¥288.1m | −CN¥245.9m | −CN¥553.2m | CN¥66.0m | CN¥183.9m | CN¥170.3m | CN¥111.1m | CN¥257.3m | CN¥201.3m | CN¥216.4m |
| Diluted earnings per share | -1.07 | -1.19 | -2.05 | 0.24 | 1.16 | 1.06 | 0.70 | 1.62 | 1.26 | 1.58 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.83bn | CN¥6.06bn | CN¥6.58bn | CN¥7.45bn | CN¥7.70bn | CN¥7.91bn | CN¥7.13bn | CN¥7.45bn | CN¥6.45bn | CN¥3.66bn |
| Cash and short-term investments | — | CN¥451.4m | CN¥389.3m | CN¥490.8m | CN¥857.5m | CN¥1.22bn | CN¥1.19bn | CN¥1.23bn | CN¥1.35bn | CN¥927.9m |
| Total liabilities | CN¥4.20bn | CN¥4.14bn | CN¥4.39bn | CN¥4.69bn | CN¥4.97bn | CN¥5.32bn | CN¥4.63bn | CN¥5.04bn | CN¥4.28bn | CN¥2.51bn |
| Debt | CN¥528.7m | CN¥1.52bn | CN¥1.75bn | CN¥1.93bn | CN¥2.14bn | CN¥2.16bn | CN¥1.73bn | CN¥1.48bn | CN¥1.40bn | CN¥713.3m |
| Shareholders' equity | CN¥1.60bn | CN¥1.89bn | CN¥2.16bn | CN¥2.73bn | CN¥2.70bn | CN¥2.57bn | CN¥2.47bn | CN¥2.39bn | CN¥2.15bn | CN¥1.14bn |
| Shares outstanding | 268m | 207m | 270m | 270m | 159m | 160m | 159m | 159m | 159m | 137m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥183.5m | CN¥244.7m | CN¥108.2m | CN¥117.8m | −CN¥50.9m | −CN¥108.7m | CN¥75.9m | CN¥132.4m | CN¥23.4m | CN¥245.7m |
| Capital spending | −CN¥90.4m | −CN¥72.3m | −CN¥57.6m | −CN¥151.2m | −CN¥136.5m | −CN¥180.2m | −CN¥230.8m | −CN¥357.5m | −CN¥262.1m | −CN¥114.8m |
| Free cash flow | CN¥93.1m | CN¥172.4m | CN¥50.6m | −CN¥33.4m | −CN¥187.5m | −CN¥288.9m | −CN¥154.9m | −CN¥225.1m | −CN¥238.7m | CN¥130.9m |
| Dividends paid | −CN¥55.0m | −CN¥61.9m | −CN¥90.3m | −CN¥56.4m | −CN¥52.5m | −CN¥11.1m | −CN¥27.1m | −CN¥87.5m | −CN¥73.9m | −CN¥41.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥313.6m | CN¥170.2m | CN¥704.1m | CN¥364.5m | CN¥384.0m | CN¥292.8m | CN¥511.2m | CN¥451.1m |
| Gross profit | CN¥39.9m | CN¥29.2m | CN¥72.8m | CN¥55.3m | CN¥68.3m | CN¥55.9m | −CN¥62.0m | CN¥77.1m |
| Operating income | −CN¥37.3m | −CN¥45.2m | −CN¥118.3m | −CN¥47.2m | −CN¥28.4m | −CN¥20.9m | −CN¥196.3m | −CN¥4.9m |
| Net income | −CN¥76.4m | −CN¥57.3m | −CN¥197.9m | −CN¥46.8m | −CN¥22.3m | −CN¥21.1m | −CN¥205.4m | −CN¥1.5m |
| Diluted earnings per share | -0.28 | -0.21 | -0.74 | -0.17 | -0.08 | -0.08 | -0.99 | -0.01 |
| Cash from operations | — | — | — | CN¥106.0m | −CN¥140.0m | −CN¥184.0m | — | CN¥61.0m |
| Capital spending | −CN¥15.0m | −CN¥8.0m | −CN¥50.0m | −CN¥13.0m | −CN¥23.0m | −CN¥3.0m | −CN¥64.0m | −CN¥2.0m |
| Free cash flow | — | — | — | CN¥93.0m | −CN¥163.0m | −CN¥187.0m | — | CN¥59.0m |
| Total assets | CN¥5.48bn | CN¥5.50bn | CN¥5.83bn | CN¥5.93bn | CN¥6.00bn | CN¥5.85bn | CN¥6.06bn | CN¥6.36bn |
| Cash and short-term investments | — | — | — | CN¥158.5m | CN¥161.7m | CN¥168.4m | CN¥451.4m | CN¥146.1m |
| Debt | CN¥361.9m | CN¥505.1m | CN¥528.7m | CN¥1.55bn | CN¥1.43bn | CN¥1.43bn | CN¥1.52bn | CN¥1.58bn |
| Shareholders' equity | CN¥1.47bn | CN¥1.55bn | CN¥1.60bn | CN¥1.80bn | CN¥1.85bn | CN¥1.87bn | CN¥1.89bn | CN¥2.13bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.7% | 7.4% | -5.2% | 18.7% | 19.6% | 16.7% |
| Operating margin | -13.3% | -15.9% | -27.1% | 2.1% | 6.1% | 4.6% |
| Net margin | -16.5% | -15.3% | -28.7% | 2.4% | 5.8% | 4.3% |
| Return on equity | -18.0% | -13.0% | -25.6% | 2.4% | 6.8% | 6.6% |
| Return on assets | -4.9% | -4.1% | -8.4% | 0.9% | 2.4% | 2.2% |
| Free cash flow yield | 5.8% | 8.7% | 3.5% | 5.6% | 3.0% | 2.5% |
| Revenue growth | 8.9% | -16.8% | -29.2% | -13.4% | -20.3% | 7.4% |
| Earnings growth | 17.2% | -55.6% | -937.7% | -64.1% | 8.0% | 53.3% |
| Current ratio | 1.14x | 1.23x | 1.23x | 1.34x | 1.30x | 1.27x |
| Debt to equity | 0.33x | 0.80x | 0.84x | 0.69x | 0.82x | 0.86x |
| Equity ratio | 27.5% | 31.2% | 32.8% | 36.6% | 35.1% | 32.5% |
| Interest coverage | -4.26x | -4.18x | -7.25x | 0.67x | 1.92x | 2.12x |
| R&D as a share of sales | 7.1% | 6.4% | 1.6% | 1.1% | 2.2% | 2.0% |
| Buybacks as a share of market value | -29.7% | 23.4% | 0.1% | -69.8% | 0.6% | -0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.8% | -15.0% | -3.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.2% | 9.8% | 13.7% | 14.2% |
| Operating margin | -11.8% | -10.6% | -3.2% | 1.4% |
| Net margin | -15.9% | -12.8% | -4.4% | 0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -29.5 | -17.9 | -9.8 | 93.8 | 28.8 | 25.9 | 37.8 | 12.6 | 27.2 | 27.2 |
| Price to sales | 4.9 | 2.8 | 2.8 | 2.3 | 1.7 | 1.1 | 1.1 | 0.6 | 1.1 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.094 | 0.267 | 0.195 | 0.041 | 0.101 | 0.071 | 0.059 | 0.059 |
- 13-for-10 split · 10 Jul 2023
- 13-for-10 split · 25 Jul 2022
- 1-to-1 reverse split · 21 Jun 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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