S 
1.74
-2.25%
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¥948.0m
FY2016FY2025
Net income
−CN¥290.1m
FY2016FY2025
Free cash flow
−CN¥34.2m
FY2016FY2025
Shareholders' equity
CN¥695.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥948.0m | CN¥781.9m | CN¥1.04bn | CN¥2.01bn | CN¥4.04bn | CN¥5.42bn | CN¥6.94bn | CN¥6.52bn | CN¥4.63bn | CN¥3.34bn |
| Research and development | CN¥17.5m | CN¥25.9m | CN¥30.0m | CN¥58.8m | CN¥133.2m | CN¥98.5m | CN¥145.0m | CN¥178.4m | CN¥148.2m | CN¥148.2m |
| Operating income | −CN¥87.6m | −CN¥110.3m | CN¥48.0m | −CN¥1.09bn | −CN¥780.2m | CN¥337.6m | CN¥444.2m | CN¥432.7m | CN¥271.7m | CN¥78.5m |
| Net income | −CN¥290.1m | −CN¥110.1m | CN¥94.9m | −CN¥1.20bn | −CN¥1.29bn | CN¥133.3m | CN¥208.6m | CN¥260.5m | CN¥164.8m | CN¥100.4m |
| Diluted earnings per share | -0.27 | -0.05 | 0.07 | -2.11 | -2.20 | 0.23 | 0.42 | 0.48 | 0.32 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.93bn | CN¥2.18bn | CN¥2.84bn | CN¥6.03bn | CN¥9.28bn | CN¥10.51bn | CN¥9.67bn | CN¥8.12bn | CN¥5.31bn | CN¥3.96bn |
| Cash and short-term investments | — | CN¥124.5m | CN¥558.0m | CN¥288.8m | CN¥933.0m | CN¥1.44bn | CN¥1.24bn | CN¥559.6m | CN¥380.4m | CN¥577.5m |
| Total liabilities | CN¥1.19bn | CN¥1.17bn | CN¥1.74bn | CN¥6.12bn | CN¥7.83bn | CN¥7.84bn | CN¥7.20bn | CN¥6.18bn | CN¥3.60bn | CN¥2.51bn |
| Debt | CN¥10.1m | CN¥290.2m | CN¥386.8m | CN¥1.32bn | CN¥1.25bn | CN¥1.21bn | CN¥1.34bn | CN¥1.33bn | CN¥771.5m | CN¥689.2m |
| Shareholders' equity | CN¥695.7m | CN¥945.6m | CN¥1.03bn | −CN¥199.8m | CN¥1.13bn | CN¥2.31bn | CN¥2.14bn | CN¥1.82bn | CN¥1.61bn | CN¥1.43bn |
| Shares outstanding | 1,077m | 2,066m | 1,317m | 568m | 587m | 568m | 492m | 544m | 509m | 471m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥4.5m | −CN¥235.6m | CN¥13.8m | CN¥50.2m | −CN¥249.2m | CN¥297.3m | CN¥241.2m | CN¥192.3m | −CN¥279.0m | −CN¥290.5m |
| Capital spending | −CN¥29.7m | −CN¥7.3m | −CN¥5.4m | −CN¥25.3m | −CN¥43.5m | −CN¥38.3m | −CN¥126.9m | −CN¥69.4m | −CN¥45.7m | −CN¥63.0m |
| Free cash flow | −CN¥34.2m | −CN¥242.9m | CN¥8.4m | CN¥24.9m | −CN¥292.6m | CN¥259.0m | CN¥114.3m | CN¥122.8m | −CN¥324.7m | −CN¥353.5m |
| Dividends paid | −CN¥33.6m | −CN¥22.4m | −CN¥22.1m | −CN¥81.0m | −CN¥15.8m | −CN¥21.1m | −CN¥10.5m | −CN¥86.8m | −CN¥92.2m | −CN¥37.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥226.5m | CN¥294.1m | CN¥284.4m | CN¥213.4m | CN¥237.5m | CN¥212.6m | CN¥198.8m | CN¥147.7m |
| Operating income | CN¥2.0m | CN¥3.0m | −CN¥44.2m | −CN¥19.8m | −CN¥46.0m | −CN¥17.8m | −CN¥74.6m | −CN¥31.7m |
| Net income | −CN¥5.5m | CN¥2.2m | −CN¥200.1m | −CN¥20.5m | −CN¥50.3m | −CN¥19.2m | −CN¥75.7m | −CN¥26.1m |
| Diluted earnings per share | -0.01 | 0.00 | -0.19 | -0.02 | -0.05 | -0.02 | -0.04 | -0.01 |
| Cash from operations | — | — | — | CN¥49.0m | −CN¥53.0m | CN¥10.0m | — | −CN¥41.0m |
| Capital spending | −CN¥1.0m | −CN¥2.0m | −CN¥1.0m | −CN¥10.0m | −CN¥8.0m | −CN¥8.0m | −CN¥3.0m | −CN¥1.0m |
| Free cash flow | — | — | — | CN¥39.0m | −CN¥61.0m | CN¥2.0m | — | −CN¥42.0m |
| Total assets | CN¥2.11bn | CN¥1.94bn | CN¥1.93bn | CN¥2.10bn | CN¥2.08bn | CN¥2.15bn | CN¥2.18bn | CN¥2.34bn |
| Cash and short-term investments | — | — | — | CN¥117.4m | CN¥92.1m | CN¥70.6m | CN¥124.5m | CN¥132.3m |
| Debt | CN¥47.9m | CN¥15.1m | CN¥10.1m | CN¥102.7m | CN¥279.3m | CN¥276.4m | CN¥280.6m | CN¥274.7m |
| Shareholders' equity | CN¥695.3m | CN¥699.2m | CN¥695.7m | CN¥885.6m | CN¥886.9m | CN¥926.9m | CN¥945.6m | CN¥996.3m |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -28.1% | -9.3% | 10.3% | -50.7% | -27.3% | 6.2% |
| Net margin | -30.6% | -14.1% | 9.1% | -59.6% | -32.0% | 2.5% |
| Return on equity | -41.7% | -11.6% | 9.2% | 599.2% | -114.6% | 5.8% |
| Return on assets | -15.0% | -5.1% | 3.3% | -19.9% | -13.9% | 1.3% |
| Free cash flow yield | — | -5.9% | — | — | — | — |
| Revenue growth | 21.2% | -24.8% | -48.3% | -50.3% | -25.5% | -21.8% |
| Earnings growth | 163.4% | -216.1% | -107.9% | -7.4% | -1070.1% | -36.1% |
| Current ratio | 1.06x | 1.59x | 1.52x | 0.85x | 1.03x | 1.26x |
| Debt to equity | 0.01x | 0.30x | 0.19x | -6.48x | 1.11x | 0.51x |
| Equity ratio | 36.0% | 43.4% | 36.3% | -3.3% | 12.1% | 22.0% |
| Interest coverage | -7.54x | -2.07x | 1.74x | -14.27x | -6.75x | 2.60x |
| R&D as a share of sales | 1.8% | 3.3% | 2.9% | 2.9% | 3.3% | 1.8% |
| Buybacks as a share of market value | 47.9% | -56.9% | -131.7% | 3.2% | -3.4% | -15.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.1% | -29.5% | -8.0% |
| Operating income | -56.9% | — | — |
| Net income | -37.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -11.4% | -26.0% | -11.8% | -0.9% |
| Net margin | -23.1% | -31.5% | -18.7% | -4.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.0 | -47.1 | 39.0 | -1.3 | -1.7 | 21.0 | 13.6 | 10.7 | 25.3 | 47.4 |
| Price to sales | 3.4 | 6.6 | 3.6 | 0.8 | 0.5 | 0.5 | 0.4 | 0.4 | 0.9 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Jun 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.04 | 0.02 | 0.035 | 0.02 | 0.02 | 0.017 |
- 1.169-for-1 split · 26 Dec 2023
- 3-for-1 split · 23 Jun 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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