Q 
5.35
-0.19%
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¥1.50bn
FY2016FY2025
Net income
−CN¥636.6m
FY2016FY2025
Free cash flow
CN¥35.1m
FY2016FY2025
Shareholders' equity
CN¥2.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.50bn | CN¥3.09bn | CN¥3.63bn | CN¥3.11bn | CN¥2.82bn | CN¥2.10bn | CN¥1.81bn | CN¥1.74bn | CN¥1.51bn | CN¥1.39bn |
| Gross profit | CN¥392.1m | CN¥970.0m | CN¥1.48bn | CN¥1.29bn | CN¥1.16bn | CN¥958.0m | CN¥820.3m | CN¥886.0m | CN¥885.1m | CN¥862.5m |
| Research and development | CN¥388.1m | CN¥509.4m | CN¥593.8m | CN¥498.7m | CN¥390.4m | CN¥289.4m | CN¥235.5m | CN¥265.3m | CN¥226.9m | CN¥163.5m |
| Operating income | — | −CN¥233.5m | CN¥178.8m | CN¥140.2m | CN¥172.7m | CN¥183.9m | CN¥184.6m | CN¥215.5m | CN¥326.8m | CN¥271.3m |
| Net income | −CN¥636.6m | −CN¥242.4m | CN¥131.2m | CN¥118.7m | CN¥156.6m | CN¥181.1m | CN¥162.0m | CN¥203.9m | CN¥301.8m | CN¥310.9m |
| Diluted earnings per share | -0.98 | -0.50 | 0.22 | 0.20 | 0.21 | 0.32 | 0.25 | 0.13 | 0.49 | 0.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.81bn | CN¥4.66bn | CN¥5.92bn | CN¥5.66bn | CN¥5.11bn | CN¥4.38bn | CN¥3.75bn | CN¥3.51bn | CN¥2.71bn | CN¥2.32bn |
| Cash and short-term investments | — | CN¥631.9m | CN¥754.5m | CN¥395.7m | CN¥457.7m | CN¥308.9m | CN¥315.9m | CN¥126.0m | CN¥322.3m | CN¥269.9m |
| Total liabilities | CN¥1.31bn | CN¥1.52bn | CN¥2.50bn | CN¥2.34bn | CN¥1.86bn | CN¥1.22bn | CN¥732.6m | CN¥912.1m | CN¥592.4m | CN¥372.3m |
| Debt | — | CN¥236.3m | CN¥791.8m | CN¥551.6m | CN¥62.6m | CN¥56.0m | CN¥3.0m | CN¥302.3m | CN¥149.9m | — |
| Shareholders' equity | CN¥2.50bn | CN¥3.14bn | CN¥3.42bn | CN¥3.32bn | CN¥3.25bn | CN¥3.16bn | CN¥3.02bn | CN¥2.60bn | CN¥2.12bn | CN¥1.94bn |
| Shares outstanding | 651m | 488m | 606m | 602m | 736m | 568m | 650m | 1,617m | 612m | 593m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥45.0m | CN¥233.3m | CN¥288.7m | −CN¥284.3m | CN¥386.1m | CN¥134.2m | CN¥91.9m | CN¥151.8m | −CN¥28.3m | CN¥285.7m |
| Capital spending | −CN¥9.9m | −CN¥26.9m | −CN¥84.4m | −CN¥199.8m | −CN¥158.1m | −CN¥202.8m | −CN¥247.7m | −CN¥334.3m | −CN¥679.2m | −CN¥221.7m |
| Free cash flow | CN¥35.1m | CN¥206.5m | CN¥204.3m | −CN¥484.1m | CN¥228.0m | −CN¥68.6m | −CN¥155.8m | −CN¥182.4m | −CN¥707.5m | CN¥64.0m |
| Dividends paid | −CN¥18.2m | −CN¥66.7m | −CN¥62.1m | −CN¥47.6m | −CN¥53.4m | −CN¥48.7m | −CN¥61.3m | −CN¥93.0m | −CN¥93.6m | −CN¥93.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥255.2m | CN¥196.8m | CN¥436.9m | CN¥361.8m | CN¥476.8m | CN¥227.3m | CN¥832.1m | CN¥817.7m |
| Gross profit | CN¥63.2m | CN¥46.6m | CN¥97.2m | CN¥114.5m | CN¥123.8m | CN¥56.5m | CN¥89.9m | CN¥353.8m |
| Operating income | −CN¥75.6m | −CN¥91.5m | −CN¥181.3m | −CN¥112.6m | −CN¥77.4m | −CN¥140.0m | −CN¥218.7m | CN¥17.8m |
| Net income | −CN¥104.6m | −CN¥93.7m | −CN¥300.3m | −CN¥117.1m | −CN¥80.6m | −CN¥138.6m | −CN¥213.9m | CN¥20.2m |
| Diluted earnings per share | -0.16 | -0.14 | -0.46 | -0.18 | -0.12 | -0.21 | -0.44 | 0.04 |
| Cash from operations | — | — | — | CN¥40.0m | −CN¥43.0m | −CN¥184.0m | CN¥205.0m | CN¥212.0m |
| Capital spending | — | — | −CN¥2.0m | −CN¥1.0m | −CN¥2.0m | −CN¥3.0m | −CN¥1.0m | −CN¥4.0m |
| Free cash flow | — | — | — | CN¥39.0m | −CN¥45.0m | −CN¥187.0m | CN¥204.0m | CN¥208.0m |
| Total assets | CN¥3.44bn | CN¥3.51bn | CN¥3.81bn | CN¥3.87bn | CN¥4.08bn | CN¥4.33bn | CN¥4.66bn | CN¥5.26bn |
| Cash and short-term investments | — | — | — | CN¥457.0m | CN¥241.7m | CN¥513.6m | CN¥631.9m | CN¥639.7m |
| Debt | — | — | — | CN¥627.1m | CN¥263.0m | CN¥326.8m | CN¥230.3m | CN¥280.1m |
| Shareholders' equity | CN¥2.30bn | CN¥2.41bn | CN¥2.50bn | CN¥2.80bn | CN¥2.92bn | CN¥3.00bn | CN¥3.14bn | CN¥3.35bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.1% | 31.4% | 40.6% | 41.4% | 41.0% | 45.6% |
| Operating margin | -41.4% | -7.4% | 5.0% | 4.6% | 6.1% | 9.3% |
| Net margin | -42.4% | -7.9% | 3.6% | 3.8% | 5.6% | 8.6% |
| Return on equity | -25.5% | -7.7% | 3.8% | 3.6% | 4.8% | 5.7% |
| Return on assets | -16.7% | -5.2% | 2.2% | 2.1% | 3.1% | 4.1% |
| Free cash flow yield | 1.5% | 9.4% | 10.8% | -2.5% | 13.0% | 10.4% |
| Revenue growth | -51.3% | -15.0% | 16.6% | 10.4% | 34.2% | 16.1% |
| Earnings growth | 162.6% | -284.7% | 10.6% | -24.2% | -13.5% | 11.8% |
| Current ratio | 1.99x | 2.24x | 2.28x | 2.12x | 1.97x | 2.33x |
| Debt to equity | 0.00x | 0.07x | 0.23x | 0.16x | 0.01x | 0.02x |
| Equity ratio | 65.6% | 67.3% | 57.8% | 58.7% | 63.6% | 72.1% |
| Interest coverage | -32.49x | -7.50x | 5.50x | 4.67x | 10.59x | 51.91x |
| R&D as a share of sales | 25.8% | 16.5% | 16.3% | 16.0% | 13.8% | 13.8% |
| Buybacks as a share of market value | -33.5% | 19.6% | -0.7% | 18.1% | -29.4% | 12.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.6% | -6.5% | 4.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.7% | 36.4% | 38.4% | 43.4% |
| Net margin | -19.2% | -5.5% | -1.8% | 4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.3 | -14.3 | 43.4 | 42.5 | 40.0 | 29.2 | 35.5 | 86.3 | 26.4 | 39.2 |
| Price to sales | 3.1 | 1.1 | 1.6 | 1.6 | 2.2 | 2.5 | 3.2 | 10.1 | 5.3 | 8.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.061 | 0.055 | 0.073 | 0.084 | 0.074 | 0.094 | 0.15 | 0.154 |
- 7-for-5 split · 6 Jul 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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