L 
5.49
-0.90%
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¥6.49bn
FY2016FY2025
Net income
−CN¥596.1m
FY2016FY2025
Free cash flow
−CN¥132.3m
FY2016FY2025
Shareholders' equity
CN¥2.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.49bn | CN¥5.79bn | CN¥5.16bn | CN¥4.98bn | CN¥4.04bn | CN¥2.90bn | CN¥3.44bn | CN¥2.55bn | CN¥2.98bn | CN¥1.74bn |
| Gross profit | CN¥491.6m | CN¥837.5m | CN¥763.9m | CN¥688.0m | CN¥642.2m | CN¥258.6m | CN¥516.9m | −CN¥756.6m | CN¥349.9m | CN¥302.1m |
| Research and development | CN¥289.4m | CN¥287.4m | CN¥226.5m | CN¥151.2m | CN¥92.2m | CN¥31.7m | CN¥30.6m | CN¥37.7m | CN¥12.5m | CN¥12.9m |
| Operating income | −CN¥69.6m | CN¥293.1m | CN¥275.0m | CN¥326.4m | CN¥124.2m | −CN¥261.3m | CN¥238.1m | −CN¥1.47bn | CN¥127.5m | CN¥3.3m |
| Net income | −CN¥596.1m | CN¥156.2m | CN¥153.7m | CN¥175.9m | CN¥122.7m | −CN¥284.7m | CN¥56.4m | −CN¥1.51bn | CN¥9.0m | CN¥16.4m |
| Diluted earnings per share | -0.46 | 0.12 | 0.12 | 0.13 | 0.12 | -0.27 | 0.05 | -1.43 | 0.01 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.46bn | CN¥12.38bn | CN¥12.54bn | CN¥11.71bn | CN¥12.12bn | CN¥10.54bn | CN¥11.17bn | CN¥11.34bn | CN¥10.91bn | CN¥7.50bn |
| Cash and short-term investments | — | CN¥1.11bn | CN¥1.31bn | CN¥1.37bn | CN¥2.67bn | CN¥1.67bn | CN¥1.69bn | CN¥1.49bn | CN¥989.8m | CN¥621.6m |
| Total liabilities | CN¥9.59bn | CN¥8.85bn | CN¥9.18bn | CN¥8.36bn | CN¥8.93bn | CN¥8.81bn | CN¥9.15bn | CN¥9.41bn | CN¥7.48bn | CN¥4.52bn |
| Debt | CN¥1.69bn | CN¥2.44bn | CN¥2.63bn | CN¥2.95bn | CN¥3.01bn | CN¥2.99bn | CN¥3.64bn | CN¥3.80bn | CN¥3.96bn | CN¥2.29bn |
| Shareholders' equity | CN¥2.67bn | CN¥3.30bn | CN¥3.14bn | CN¥3.14bn | CN¥2.96bn | CN¥1.54bn | CN¥1.83bn | CN¥1.77bn | CN¥3.29bn | CN¥2.98bn |
| Shares outstanding | 1,306m | 1,306m | 1,306m | 1,306m | 1,058m | 1,058m | 1,049m | 1,052m | 1,019m | 1,009m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥139.7m | CN¥404.3m | CN¥261.5m | CN¥308.6m | CN¥131.9m | CN¥666.3m | CN¥721.4m | −CN¥416.9m | −CN¥1.24bn | −CN¥471.4m |
| Capital spending | −CN¥272.0m | −CN¥82.7m | −CN¥24.3m | −CN¥255.6m | −CN¥62.5m | −CN¥24.4m | −CN¥38.8m | −CN¥57.9m | −CN¥159.8m | −CN¥423.9m |
| Free cash flow | −CN¥132.3m | CN¥321.6m | CN¥237.2m | CN¥53.1m | CN¥69.5m | CN¥641.9m | CN¥682.5m | −CN¥474.8m | −CN¥1.40bn | −CN¥895.3m |
| Dividends paid | −CN¥103.4m | −CN¥158.0m | −CN¥160.8m | −CN¥173.9m | −CN¥218.4m | −CN¥228.7m | −CN¥289.7m | −CN¥276.8m | −CN¥131.4m | −CN¥238.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.03bn | CN¥1.19bn | CN¥1.73bn | CN¥1.91bn | CN¥1.42bn | CN¥1.41bn | CN¥2.05bn | CN¥1.25bn |
| Gross profit | −CN¥7.7m | CN¥84.5m | CN¥87.1m | CN¥149.5m | CN¥212.3m | CN¥139.3m | CN¥320.0m | CN¥191.6m |
| Operating income | −CN¥72.5m | −CN¥23.8m | −CN¥68.1m | −CN¥28.0m | CN¥41.8m | CN¥9.0m | CN¥79.3m | CN¥71.6m |
| Net income | −CN¥163.3m | −CN¥39.6m | −CN¥508.8m | −CN¥43.1m | CN¥39.8m | CN¥14.5m | CN¥59.7m | CN¥26.6m |
| Diluted earnings per share | -0.13 | -0.03 | -0.39 | -0.03 | 0.03 | 0.01 | 0.05 | 0.02 |
| Cash from operations | — | — | — | −CN¥8.0m | −CN¥92.0m | CN¥15.0m | CN¥261.0m | CN¥54.0m |
| Capital spending | −CN¥22.0m | −CN¥28.0m | −CN¥51.0m | −CN¥139.0m | −CN¥33.0m | −CN¥47.0m | −CN¥30.0m | −CN¥20.0m |
| Free cash flow | — | — | — | −CN¥147.0m | −CN¥125.0m | −CN¥32.0m | CN¥231.0m | CN¥34.0m |
| Total assets | CN¥12.66bn | CN¥12.57bn | CN¥12.46bn | CN¥12.67bn | CN¥12.28bn | CN¥12.09bn | CN¥12.38bn | CN¥13.03bn |
| Cash and short-term investments | — | — | — | CN¥890.6m | CN¥855.3m | CN¥1.05bn | CN¥1.11bn | CN¥1.75bn |
| Debt | CN¥1.57bn | CN¥1.73bn | CN¥1.69bn | CN¥3.70bn | CN¥2.71bn | CN¥2.84bn | CN¥2.43bn | CN¥5.49bn |
| Shareholders' equity | CN¥2.50bn | CN¥2.66bn | CN¥2.67bn | CN¥3.31bn | CN¥3.35bn | CN¥3.32bn | CN¥3.30bn | CN¥3.24bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 7.6% | 14.5% | 14.8% | 13.8% | 15.9% | 8.9% |
| Operating margin | -1.1% | 5.1% | 5.3% | 6.6% | 3.1% | -9.0% |
| Net margin | -9.2% | 2.7% | 3.0% | 3.5% | 3.0% | -9.8% |
| Return on equity | -22.3% | 4.7% | 4.9% | 5.6% | 4.1% | -18.5% |
| Return on assets | -4.8% | 1.3% | 1.2% | 1.5% | 1.0% | -2.7% |
| Free cash flow yield | 5.3% | 6.3% | 3.7% | 7.3% | 3.1% | 11.0% |
| Revenue growth | 12.0% | 12.2% | 3.6% | 23.4% | 39.2% | -15.6% |
| Earnings growth | -481.7% | 1.6% | -12.6% | 43.4% | -143.1% | -604.9% |
| Current ratio | 1.07x | 1.01x | 1.02x | 1.04x | 1.06x | 0.92x |
| Debt to equity | 0.63x | 0.74x | 0.83x | 0.94x | 1.03x | 2.01x |
| Equity ratio | 21.5% | 26.7% | 25.0% | 26.8% | 24.5% | 14.6% |
| Interest coverage | -0.63x | 1.78x | 1.80x | 1.86x | 0.60x | -1.17x |
| R&D as a share of sales | 4.5% | 5.0% | 4.4% | 3.0% | 2.3% | 1.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | -23.4% | 0.0% | -0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.2% | 17.5% | 10.2% |
| Operating income | — | -23.3% | — |
| Net income | — | 15.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.8% | 12.4% | 12.5% | 12.2% |
| Operating margin | 1.8% | 3.7% | 2.3% | 0.8% |
| Net margin | -3.6% | -0.5% | -0.9% | -2.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -23.4 | 45.6 | 52.3 | 47.1 | 78.5 | -17.3 | 108.7 | -3.0 | — | — |
| Price to sales | 2.1 | 1.2 | 1.6 | 1.7 | 2.4 | 1.7 | 1.8 | 1.8 | 2.9 | 7.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Jul 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|
| Paid in the year | 0.003 | 0.01 | 0.15 | 0.094 |
- 8-for-5 split · 24 Apr 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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