C 
10.80
-2.26%
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¥2.62bn
FY2016FY2025
Net income
−CN¥267.9m
FY2016FY2025
Free cash flow
−CN¥7.1m
FY2016FY2025
Shareholders' equity
CN¥2.40bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.62bn | CN¥3.00bn | CN¥4.17bn | CN¥4.12bn | CN¥3.02bn | CN¥2.18bn | CN¥2.14bn | CN¥1.93bn | CN¥1.81bn | CN¥1.53bn |
| Gross profit | CN¥38.8m | CN¥68.6m | CN¥409.4m | CN¥501.4m | CN¥433.7m | CN¥390.8m | CN¥397.4m | CN¥384.6m | CN¥452.7m | CN¥397.4m |
| Research and development | CN¥104.4m | CN¥120.1m | CN¥203.2m | CN¥134.3m | CN¥90.3m | CN¥70.9m | CN¥72.7m | CN¥71.0m | CN¥70.4m | CN¥60.8m |
| Operating income | −CN¥292.0m | −CN¥276.0m | CN¥84.1m | CN¥185.1m | CN¥204.9m | CN¥222.7m | CN¥221.4m | CN¥220.8m | CN¥259.4m | CN¥235.4m |
| Net income | −CN¥267.9m | −CN¥284.9m | CN¥103.6m | CN¥171.2m | CN¥170.1m | CN¥194.1m | CN¥190.3m | CN¥187.1m | CN¥218.2m | CN¥201.9m |
| Diluted earnings per share | -0.67 | -0.63 | 0.27 | 0.38 | 0.42 | 0.49 | 0.52 | 0.52 | 0.61 | 0.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.95bn | CN¥4.38bn | CN¥4.94bn | CN¥4.97bn | CN¥4.75bn | CN¥3.28bn | CN¥2.24bn | CN¥2.10bn | CN¥1.59bn | CN¥1.26bn |
| Cash and short-term investments | — | CN¥606.3m | CN¥778.4m | CN¥1.05bn | CN¥1.28bn | CN¥580.4m | CN¥348.2m | CN¥219.1m | CN¥135.5m | CN¥82.4m |
| Total liabilities | CN¥1.55bn | CN¥1.70bn | CN¥1.95bn | CN¥2.01bn | CN¥2.52bn | CN¥1.40bn | CN¥931.9m | CN¥1.01bn | CN¥656.7m | CN¥584.2m |
| Debt | CN¥29.4m | CN¥691.7m | CN¥1.20bn | CN¥1.19bn | CN¥1.49bn | CN¥568.3m | CN¥289.0m | CN¥227.2m | CN¥107.6m | CN¥96.2m |
| Shareholders' equity | CN¥2.40bn | CN¥2.67bn | CN¥2.99bn | CN¥2.97bn | CN¥2.23bn | CN¥1.87bn | CN¥1.31bn | CN¥1.09bn | CN¥931.7m | CN¥677.9m |
| Shares outstanding | 399m | 451m | 381m | 446m | 403m | 400m | 367m | 359m | 360m | 399m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥67.6m | CN¥365.0m | CN¥24.6m | −CN¥79.7m | −CN¥177.1m | CN¥28.9m | CN¥154.6m | CN¥86.3m | CN¥81.5m | CN¥121.9m |
| Capital spending | −CN¥74.7m | −CN¥159.1m | −CN¥155.8m | −CN¥220.0m | −CN¥269.8m | −CN¥518.7m | −CN¥77.4m | −CN¥137.2m | −CN¥57.8m | −CN¥21.2m |
| Free cash flow | −CN¥7.1m | CN¥206.0m | −CN¥131.1m | −CN¥299.6m | −CN¥446.9m | −CN¥489.7m | CN¥77.2m | −CN¥50.8m | CN¥23.6m | CN¥100.7m |
| Dividends paid | −CN¥25.4m | −CN¥64.5m | −CN¥95.4m | −CN¥50.5m | −CN¥20.0m | −CN¥20.0m | −CN¥10.4m | −CN¥56.9m | −CN¥54.9m | −CN¥6.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥660.8m | CN¥603.3m | CN¥582.8m | CN¥686.6m | CN¥709.2m | CN¥643.2m | CN¥697.1m | CN¥654.9m |
| Gross profit | CN¥71.8m | CN¥58.9m | CN¥24.2m | CN¥2.1m | −CN¥4.6m | CN¥17.2m | −CN¥86.0m | CN¥24.6m |
| Operating income | CN¥22.2m | CN¥6.7m | −CN¥31.7m | −CN¥55.1m | −CN¥43.8m | −CN¥35.6m | −CN¥166.8m | −CN¥94.0m |
| Net income | CN¥7.6m | −CN¥11.5m | −CN¥151.0m | −CN¥44.9m | −CN¥38.9m | −CN¥33.2m | −CN¥189.4m | −CN¥80.0m |
| Diluted earnings per share | 0.02 | -0.03 | -0.38 | -0.11 | -0.10 | -0.08 | -0.42 | -0.18 |
| Cash from operations | — | — | — | CN¥99.0m | CN¥83.0m | −CN¥8.0m | — | CN¥251.0m |
| Capital spending | −CN¥9.0m | −CN¥18.0m | — | −CN¥29.0m | −CN¥20.0m | −CN¥37.0m | −CN¥30.0m | −CN¥9.0m |
| Free cash flow | — | — | — | CN¥70.0m | CN¥63.0m | −CN¥45.0m | — | CN¥242.0m |
| Total assets | CN¥3.99bn | CN¥4.03bn | CN¥3.95bn | CN¥4.19bn | CN¥4.37bn | CN¥4.28bn | CN¥4.38bn | CN¥4.62bn |
| Cash and short-term investments | — | — | — | CN¥602.6m | CN¥721.5m | CN¥548.1m | CN¥606.3m | CN¥514.4m |
| Debt | CN¥90.6m | CN¥42.5m | CN¥29.4m | CN¥1.02bn | CN¥697.9m | CN¥666.4m | CN¥688.7m | CN¥1.04bn |
| Shareholders' equity | CN¥2.40bn | CN¥2.39bn | CN¥2.40bn | CN¥2.56bn | CN¥2.60bn | CN¥2.64bn | CN¥2.67bn | CN¥2.87bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 1.5% | 2.3% | 9.8% | 12.2% | 14.4% | 17.9% |
| Operating margin | -11.0% | -9.2% | 3.2% | 5.7% | 7.4% | 10.9% |
| Net margin | -10.2% | -9.5% | 2.5% | 4.2% | 5.6% | 8.9% |
| Return on equity | -11.2% | -10.7% | 3.5% | 5.8% | 7.6% | 10.4% |
| Return on assets | -6.8% | -6.5% | 2.1% | 3.4% | 3.6% | 5.9% |
| Free cash flow yield | 3.2% | 10.3% | 4.2% | 2.8% | 2.0% | 12.1% |
| Revenue growth | -12.7% | -27.9% | 1.2% | 36.4% | 38.2% | 2.2% |
| Earnings growth | -6.0% | -375.0% | -39.5% | 0.7% | -12.4% | 2.0% |
| Current ratio | 1.84x | 1.93x | 2.00x | 2.52x | 2.22x | 2.06x |
| Debt to equity | 0.01x | 0.26x | 0.40x | 0.40x | 0.58x | 0.30x |
| Equity ratio | 60.8% | 61.0% | 60.6% | 59.7% | 46.9% | 57.2% |
| Interest coverage | -8.53x | -7.09x | 2.59x | 4.23x | 6.97x | 14.18x |
| R&D as a share of sales | 4.0% | 4.0% | 4.9% | 3.3% | 3.0% | 3.2% |
| Buybacks as a share of market value | 11.6% | -18.4% | 14.6% | -10.6% | -0.9% | -9.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.0% | 3.7% | 8.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 1.9% | 7.3% | 9.6% | 13.7% |
| Operating margin | -10.1% | -2.1% | 0.7% | 4.5% |
| Net margin | -9.8% | -2.0% | 0.5% | 3.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -21.3 | -16.1 | 63.8 | 82.6 | 73.8 | 80.1 |
| Price to sales | 2.2 | 1.5 | 1.6 | 3.4 | 4.2 | 7.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|
| Paid in the year | 0.072 | 0.125 | 0.125 | 0.05 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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