A 
29.48
+0.10%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.56bn
FY2016FY2025
Net income
CN¥8.3m
FY2016FY2025
Free cash flow
−CN¥244.8m
FY2016FY2025
Shareholders' equity
CN¥2.24bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.56bn | CN¥1.43bn | CN¥1.61bn | CN¥1.71bn | CN¥1.70bn | CN¥1.59bn | CN¥1.50bn | CN¥1.43bn | CN¥1.49bn | CN¥1.30bn |
| Gross profit | CN¥402.4m | −CN¥30.2m | CN¥352.8m | CN¥372.6m | CN¥393.9m | CN¥408.5m | CN¥392.2m | CN¥391.4m | CN¥421.8m | CN¥375.8m |
| Research and development | CN¥171.1m | CN¥154.9m | CN¥129.2m | CN¥107.4m | CN¥100.2m | CN¥86.1m | CN¥90.8m | CN¥79.5m | CN¥78.1m | CN¥68.2m |
| Operating income | CN¥48.1m | −CN¥401.6m | CN¥30.7m | CN¥79.3m | CN¥145.3m | CN¥134.7m | CN¥111.8m | CN¥114.8m | CN¥131.4m | CN¥78.6m |
| Net income | CN¥8.3m | −CN¥363.3m | CN¥26.7m | CN¥80.0m | CN¥136.5m | CN¥117.3m | CN¥100.4m | CN¥98.0m | CN¥115.4m | CN¥43.8m |
| Diluted earnings per share | 0.01 | -0.44 | 0.05 | 0.11 | 0.20 | 0.13 | 0.06 | 0.16 | 0.23 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.53bn | CN¥4.42bn | CN¥4.49bn | CN¥4.18bn | CN¥4.22bn | CN¥3.79bn | CN¥3.65bn | CN¥3.57bn | CN¥3.10bn | CN¥3.02bn |
| Cash and short-term investments | — | CN¥554.8m | CN¥359.4m | CN¥457.0m | CN¥631.9m | CN¥653.0m | CN¥851.5m | CN¥716.3m | CN¥457.7m | CN¥425.1m |
| Total liabilities | CN¥2.29bn | CN¥2.18bn | CN¥1.87bn | CN¥1.55bn | CN¥1.64bn | CN¥1.37bn | CN¥1.33bn | CN¥1.35bn | CN¥1.43bn | CN¥1.51bn |
| Debt | CN¥24.5m | CN¥505.1m | CN¥442.2m | CN¥212.8m | CN¥282.2m | CN¥353.8m | CN¥335.3m | CN¥423.5m | CN¥510.2m | CN¥502.0m |
| Shareholders' equity | CN¥2.24bn | CN¥2.23bn | CN¥2.61bn | CN¥2.61bn | CN¥2.56bn | CN¥2.40bn | CN¥2.31bn | CN¥2.21bn | CN¥1.66bn | CN¥1.50bn |
| Shares outstanding | 724m | 831m | 516m | 754m | 691m | 896m | 1,711m | 615m | 500m | 724m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥73.5m | CN¥188.9m | −CN¥76.5m | −CN¥57.0m | CN¥63.7m | −CN¥101.4m | CN¥397.6m | −CN¥80.2m | CN¥67.9m | CN¥133.0m |
| Capital spending | −CN¥171.3m | −CN¥88.8m | −CN¥111.8m | −CN¥57.6m | −CN¥104.1m | −CN¥100.3m | −CN¥129.3m | −CN¥99.5m | −CN¥93.8m | −CN¥96.4m |
| Free cash flow | −CN¥244.8m | CN¥100.1m | −CN¥188.3m | −CN¥114.6m | −CN¥40.3m | −CN¥201.7m | CN¥268.3m | −CN¥179.7m | −CN¥25.8m | CN¥36.6m |
| Dividends paid | −CN¥11.7m | −CN¥18.2m | −CN¥30.8m | −CN¥27.5m | −CN¥35.5m | −CN¥30.4m | −CN¥30.4m | −CN¥36.7m | −CN¥35.3m | −CN¥45.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥311.4m | CN¥157.6m | CN¥487.7m | CN¥377.6m | CN¥551.0m | CN¥147.9m | CN¥458.5m | CN¥432.2m |
| Gross profit | CN¥49.1m | CN¥24.1m | CN¥165.6m | CN¥89.5m | CN¥143.2m | CN¥4.2m | −CN¥169.4m | CN¥40.1m |
| Operating income | −CN¥22.3m | −CN¥57.1m | CN¥45.3m | CN¥7.4m | CN¥28.7m | −CN¥59.1m | −CN¥312.6m | −CN¥47.0m |
| Net income | −CN¥40.8m | −CN¥55.7m | CN¥26.1m | CN¥9.6m | CN¥26.9m | −CN¥54.3m | −CN¥287.2m | −CN¥36.5m |
| Diluted earnings per share | -0.06 | -0.08 | 0.04 | 0.01 | 0.04 | -0.07 | -0.35 | -0.04 |
| Cash from operations | — | — | — | −CN¥21.0m | −CN¥41.0m | −CN¥88.0m | — | CN¥42.0m |
| Capital spending | −CN¥33.0m | −CN¥31.0m | −CN¥111.0m | −CN¥27.0m | −CN¥19.0m | −CN¥12.0m | −CN¥17.0m | −CN¥27.0m |
| Free cash flow | — | — | — | −CN¥48.0m | −CN¥60.0m | −CN¥100.0m | — | CN¥15.0m |
| Total assets | CN¥4.51bn | CN¥4.31bn | CN¥4.53bn | CN¥4.43bn | CN¥4.39bn | CN¥4.25bn | CN¥4.42bn | CN¥4.50bn |
| Cash and short-term investments | — | — | — | CN¥334.3m | CN¥346.7m | CN¥418.7m | CN¥554.8m | CN¥222.9m |
| Debt | CN¥21.1m | CN¥19.9m | CN¥24.5m | CN¥654.3m | CN¥438.7m | CN¥444.5m | CN¥504.7m | CN¥494.2m |
| Shareholders' equity | CN¥2.14bn | CN¥2.18bn | CN¥2.24bn | CN¥2.21bn | CN¥2.20bn | CN¥2.17bn | CN¥2.23bn | CN¥2.52bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.7% | -2.1% | 21.8% | 21.7% | 23.2% | 25.8% |
| Operating margin | 3.1% | -28.1% | 1.9% | 4.6% | 8.6% | 8.5% |
| Net margin | 0.5% | -25.4% | 1.7% | 4.7% | 8.0% | 7.4% |
| Return on equity | 0.4% | -16.3% | 1.0% | 3.1% | 5.3% | 4.9% |
| Return on assets | 0.2% | -8.2% | 0.6% | 1.9% | 3.2% | 3.1% |
| Free cash flow yield | 0.4% | 1.0% | 0.2% | 0.0% | 0.7% | -0.0% |
| Revenue growth | 9.4% | -11.4% | -5.8% | 1.1% | 7.0% | 5.8% |
| Earnings growth | -102.3% | -1458.4% | -66.6% | -41.4% | 16.3% | 16.8% |
| Current ratio | 1.56x | 1.50x | 1.94x | 2.23x | 2.11x | 2.40x |
| Debt to equity | 0.01x | 0.23x | 0.17x | 0.10x | 0.10x | 0.14x |
| Equity ratio | 49.3% | 50.5% | 58.1% | 62.5% | 60.7% | 63.5% |
| Interest coverage | 3.62x | -25.89x | 2.25x | 5.54x | 11.74x | 10.21x |
| R&D as a share of sales | 10.9% | 10.8% | 8.0% | 6.3% | 5.9% | 5.4% |
| Buybacks as a share of market value | 12.8% | -61.0% | 31.5% | -9.1% | 23.0% | 47.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.0% | -0.3% | 0.2% |
| Operating income | -15.3% | -18.6% | -9.5% |
| Net income | -52.9% | -41.1% | -23.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.4% | 17.4% | 19.8% | 23.2% |
| Operating margin | -11.8% | -3.9% | 0.4% | 3.6% |
| Net margin | -11.9% | -3.9% | 0.1% | 2.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -26.9 | 235.0 | 98.0 | 65.7 | 91.5 | 186.4 | 75.7 |
| Price to sales | 22.3 | 6.8 | 3.9 | 4.6 | 5.3 | 6.8 | 12.5 | 5.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jul 2026.
| FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.004 | 0.008 | 0.023 | 0.038 | 0.049 | 0.042 | 0.042 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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