X 
13.90
-1.70%
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¥956.6m
FY2016FY2025
Net income
−CN¥138.7m
FY2016FY2025
Free cash flow
CN¥90.8m
FY2016FY2025
Shareholders' equity
CN¥317.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥956.6m | CN¥1.12bn | CN¥1.55bn | CN¥1.75bn | CN¥2.23bn | CN¥1.91bn | CN¥1.44bn | CN¥975.8m | CN¥681.6m | CN¥571.2m |
| Gross profit | −CN¥5.8m | CN¥19.9m | CN¥51.1m | CN¥142.3m | CN¥154.0m | CN¥257.7m | CN¥227.7m | CN¥170.2m | CN¥141.7m | CN¥147.7m |
| Research and development | CN¥17.0m | CN¥23.7m | CN¥26.7m | CN¥25.6m | CN¥36.5m | CN¥34.2m | CN¥20.9m | CN¥16.5m | CN¥7.9m | CN¥7.0m |
| Operating income | −CN¥125.3m | −CN¥139.7m | −CN¥143.5m | CN¥21.6m | CN¥24.5m | CN¥116.9m | CN¥95.2m | CN¥70.7m | CN¥72.4m | CN¥79.1m |
| Net income | −CN¥138.7m | −CN¥157.6m | −CN¥103.9m | −CN¥9.5m | CN¥2.0m | CN¥73.7m | CN¥69.0m | CN¥61.1m | CN¥59.7m | CN¥63.9m |
| Diluted earnings per share | -0.99 | -1.02 | -0.75 | -0.05 | 1.27 | 0.54 | 0.53 | 0.53 | 0.60 | 0.64 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.29bn | CN¥1.43bn | CN¥1.83bn | CN¥2.19bn | CN¥1.95bn | CN¥1.79bn | CN¥1.28bn | CN¥1.01bn | CN¥540.3m | CN¥427.6m |
| Cash and short-term investments | — | CN¥112.2m | CN¥235.6m | CN¥344.9m | CN¥168.8m | CN¥170.4m | CN¥138.3m | CN¥155.0m | CN¥22.6m | CN¥18.9m |
| Total liabilities | CN¥905.5m | CN¥895.0m | CN¥1.03bn | CN¥1.23bn | CN¥1.09bn | CN¥926.6m | CN¥513.1m | CN¥306.2m | CN¥199.6m | CN¥133.2m |
| Debt | CN¥49.8m | CN¥282.7m | CN¥483.1m | CN¥775.0m | CN¥612.1m | CN¥386.8m | CN¥199.0m | CN¥74.5m | CN¥72.9m | CN¥33.5m |
| Shareholders' equity | CN¥317.0m | CN¥450.2m | CN¥683.9m | CN¥773.2m | CN¥779.6m | CN¥781.2m | CN¥732.9m | CN¥687.9m | CN¥333.0m | CN¥285.9m |
| Shares outstanding | 139m | 154m | 138m | 183m | 2m | 136m | 130m | 116m | 100m | 100m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥117.2m | CN¥111.3m | CN¥139.8m | CN¥329.6m | −CN¥51.5m | CN¥1.5m | −CN¥53.3m | −CN¥49.3m | CN¥18.5m | CN¥7.0m |
| Capital spending | −CN¥26.5m | −CN¥34.6m | −CN¥41.8m | −CN¥78.2m | −CN¥104.7m | −CN¥105.5m | −CN¥138.4m | −CN¥33.0m | −CN¥47.2m | −CN¥14.2m |
| Free cash flow | CN¥90.8m | CN¥76.7m | CN¥98.0m | CN¥251.5m | −CN¥156.3m | −CN¥103.9m | −CN¥191.7m | −CN¥82.3m | −CN¥28.7m | −CN¥7.2m |
| Dividends paid | −CN¥30.3m | −CN¥31.9m | −CN¥34.9m | −CN¥28.3m | −CN¥31.6m | −CN¥25.3m | −CN¥24.0m | −CN¥22.6m | −CN¥14.9m | −CN¥17.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥257.3m | CN¥167.3m | CN¥274.7m | CN¥237.3m | CN¥253.5m | CN¥191.1m | CN¥269.2m | CN¥292.7m |
| Gross profit | CN¥6.5m | −CN¥4.3m | −CN¥6.5m | −CN¥5.9m | CN¥292,309 | CN¥6.4m | −CN¥25.9m | CN¥17.9m |
| Operating income | −CN¥20.6m | −CN¥25.1m | −CN¥37.3m | −CN¥35.5m | −CN¥30.1m | −CN¥24.2m | −CN¥85.2m | −CN¥17.5m |
| Net income | −CN¥24.6m | −CN¥20.8m | −CN¥63.5m | −CN¥29.1m | −CN¥24.5m | −CN¥21.6m | −CN¥103.1m | −CN¥15.3m |
| Diluted earnings per share | -0.18 | -0.15 | -0.46 | -0.21 | -0.18 | -0.15 | -0.67 | -0.10 |
| Cash from operations | — | — | — | CN¥51.0m | −CN¥62.0m | CN¥13.0m | CN¥85.0m | CN¥102.0m |
| Capital spending | −CN¥1.0m | −CN¥5.0m | −CN¥8.0m | −CN¥2.0m | −CN¥4.0m | −CN¥10.0m | −CN¥1.0m | −CN¥21.0m |
| Free cash flow | — | — | — | CN¥49.0m | −CN¥66.0m | CN¥3.0m | CN¥84.0m | CN¥81.0m |
| Total assets | CN¥1.21bn | CN¥1.19bn | CN¥1.29bn | CN¥1.34bn | CN¥1.38bn | CN¥1.42bn | CN¥1.43bn | CN¥1.56bn |
| Cash and short-term investments | — | — | — | CN¥114.4m | CN¥73.3m | CN¥119.3m | CN¥112.2m | CN¥72.3m |
| Debt | CN¥55.1m | CN¥69.4m | CN¥49.8m | CN¥453.4m | CN¥364.4m | CN¥462.9m | CN¥274.5m | CN¥371.3m |
| Shareholders' equity | CN¥273.4m | CN¥302.0m | CN¥317.0m | CN¥383.4m | CN¥407.2m | CN¥433.4m | CN¥450.2m | CN¥576.1m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -0.6% | 1.8% | 3.3% | 8.1% | 6.9% | 13.5% |
| Operating margin | -13.2% | -12.4% | -6.8% | 1.2% | 1.2% | 6.4% |
| Net margin | -14.5% | -14.1% | -6.7% | -0.5% | 0.1% | 3.9% |
| Return on equity | -43.8% | -35.0% | -15.2% | -1.2% | 0.3% | 9.4% |
| Return on assets | -10.8% | -11.0% | -5.7% | -0.4% | 0.1% | 4.1% |
| Free cash flow yield | 7.4% | 6.8% | 9.5% | 16.0% | 240.2% | 5.6% |
| Revenue growth | -14.7% | -27.8% | -11.4% | -21.5% | 16.8% | 32.5% |
| Earnings growth | -12.0% | 51.7% | 996.5% | -567.1% | -97.2% | 6.7% |
| Current ratio | 0.69x | 0.84x | 1.42x | 1.46x | 1.76x | 1.82x |
| Debt to equity | 0.16x | 0.61x | 0.68x | 0.64x | 0.57x | 0.50x |
| Equity ratio | 24.7% | 31.4% | 37.3% | 35.2% | 39.9% | 43.7% |
| Interest coverage | -6.05x | -6.09x | -4.02x | 0.70x | 1.11x | 8.59x |
| R&D as a share of sales | 1.8% | 2.1% | 1.7% | 1.5% | 1.6% | 1.8% |
| Buybacks as a share of market value | 9.4% | -11.5% | 24.8% | -11423.4% | 98.8% | -4.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.3% | -12.9% | 4.9% |
| Net income | 144.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 0.7% | 3.9% | 6.5% | 10.6% |
| Operating margin | -12.8% | -7.2% | -2.6% | 1.1% |
| Net margin | -14.3% | -7.6% | -3.5% | -0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -14.3 | -12.5 | -19.4 | -259.3 | 10.2 | 21.0 | 24.2 | 29.8 |
| Price to sales | 2.1 | 1.8 | 1.3 | 1.4 | 0.0 | 0.8 | 1.2 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jul 2020.
| FY2020 | FY2019 | FY2018 | |
|---|---|---|---|
| Paid in the year | 0.19 | 0.18 | 0.15 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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