Q 
3.18
+5.65%
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¥158.3m
FY2016FY2025
Net income
−CN¥136.8m
FY2016FY2025
Free cash flow
−CN¥72.8m
FY2016FY2025
Shareholders' equity
CN¥85.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥158.3m | CN¥327.3m | CN¥267.7m | CN¥351.5m | CN¥1.05bn | CN¥773.4m | CN¥1.52bn | CN¥1.40bn | CN¥1.34bn | CN¥1.23bn |
| Research and development | CN¥14.7m | CN¥14.8m | CN¥20.2m | CN¥18.9m | CN¥21.5m | CN¥32.1m | CN¥36.7m | CN¥34.6m | CN¥34.3m | CN¥30.7m |
| Operating income | −CN¥24.0m | −CN¥59.8m | −CN¥499.7m | −CN¥496.9m | −CN¥202.5m | −CN¥297.0m | CN¥185.4m | CN¥202.2m | CN¥207.2m | CN¥204.9m |
| Net income | −CN¥136.8m | −CN¥116.4m | −CN¥655.8m | −CN¥480.4m | −CN¥228.5m | −CN¥280.4m | CN¥143.6m | CN¥180.7m | CN¥194.4m | CN¥175.7m |
| Diluted earnings per share | -0.26 | -0.27 | -1.35 | -0.94 | -0.43 | -0.58 | 0.31 | 0.38 | 0.41 | 0.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥861.0m | CN¥781.0m | CN¥950.7m | CN¥1.64bn | CN¥2.40bn | CN¥2.97bn | CN¥2.93bn | CN¥2.33bn | CN¥1.73bn | CN¥1.25bn |
| Cash and short-term investments | — | CN¥193.6m | CN¥160.4m | CN¥186.2m | CN¥437.6m | CN¥695.1m | CN¥664.7m | CN¥514.6m | CN¥449.3m | CN¥278.5m |
| Total liabilities | CN¥748.2m | CN¥723.9m | CN¥891.7m | CN¥937.1m | CN¥1.09bn | CN¥1.35bn | CN¥1.25bn | CN¥783.9m | CN¥330.9m | CN¥286.4m |
| Debt | — | CN¥258.8m | CN¥489.5m | CN¥558.8m | CN¥697.5m | CN¥639.3m | CN¥433.9m | CN¥342.0m | CN¥54.5m | CN¥48.1m |
| Shareholders' equity | CN¥85.2m | CN¥59.8m | CN¥61.3m | CN¥699.3m | CN¥1.31bn | CN¥1.62bn | CN¥1.68bn | CN¥1.55bn | CN¥1.40bn | CN¥967.5m |
| Shares outstanding | 532m | 439m | 486m | 513m | 535m | 481m | 470m | 470m | 470m | 404m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥72.5m | CN¥74.3m | −CN¥31.4m | −CN¥10.5m | −CN¥604.0m | −CN¥88.1m | CN¥44.7m | CN¥63.6m | CN¥136.8m | CN¥99.7m |
| Capital spending | −CN¥283,186 | −CN¥5.2m | −CN¥8.9m | −CN¥17.1m | −CN¥6.7m | −CN¥68.9m | −CN¥53.9m | −CN¥64.1m | −CN¥12.7m | −CN¥58.2m |
| Free cash flow | −CN¥72.8m | CN¥69.1m | −CN¥40.2m | −CN¥27.6m | −CN¥610.7m | −CN¥157.0m | −CN¥9.2m | −CN¥584,500 | CN¥124.1m | CN¥41.4m |
| Dividends paid | −CN¥13.9m | −CN¥21.7m | −CN¥14.9m | −CN¥44.8m | −CN¥39.4m | −CN¥188.0m | −CN¥18.8m | −CN¥37.5m | −CN¥87.2m | −CN¥10.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥345.0m | CN¥258.9m | CN¥42.8m | CN¥29.7m | CN¥23.5m | CN¥62.3m | CN¥149.0m | CN¥49.1m |
| Operating income | −CN¥4.9m | CN¥261,444 | CN¥1.5m | −CN¥43.9m | −CN¥34.5m | −CN¥2.4m | CN¥467,591 | −CN¥29.1m |
| Net income | −CN¥13.5m | −CN¥29.2m | −CN¥54.9m | −CN¥44.7m | −CN¥35.2m | −CN¥2.0m | −CN¥60.5m | −CN¥25.0m |
| Diluted earnings per share | -0.03 | -0.05 | -0.10 | -0.08 | -0.07 | -0.00 | -0.14 | -0.06 |
| Cash from operations | — | — | — | — | −CN¥22.0m | −CN¥4.0m | — | −CN¥10.0m |
| Capital spending | −CN¥1.0m | −CN¥1.0m | — | — | — | — | — | — |
| Total assets | CN¥824.4m | CN¥709.2m | CN¥861.0m | CN¥675.8m | CN¥695.1m | CN¥734.0m | CN¥781.0m | CN¥752.5m |
| Cash and short-term investments | — | — | — | CN¥153.0m | CN¥154.2m | CN¥178.1m | CN¥193.6m | CN¥164.3m |
| Debt | — | — | — | CN¥130.4m | CN¥133.7m | CN¥122.9m | CN¥258.7m | CN¥396.0m |
| Shareholders' equity | CN¥42.5m | CN¥56.0m | CN¥85.2m | CN¥78.3m | CN¥123.0m | CN¥158.2m | CN¥59.8m | CN¥3.8m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -78.0% | -29.0% | -186.7% | -141.4% | -19.3% | -29.1% | — |
| Net margin | -86.4% | -35.6% | -245.0% | -136.7% | -21.8% | -36.3% | — |
| Return on equity | -160.6% | -194.6% | -1070.0% | -68.7% | -17.4% | -17.4% | — |
| Return on assets | -15.9% | -14.9% | -69.0% | -29.4% | -9.5% | -9.4% | — |
| Free cash flow yield | -4.6% | 6.1% | -1.6% | 0.4% | -37.9% | -1.4% | — |
| Revenue growth | -51.6% | 22.2% | -23.8% | -66.5% | 35.8% | -49.2% | — |
| Earnings growth | 17.5% | -82.2% | 36.5% | 110.2% | -18.5% | -295.3% | — |
| Current ratio | 0.84x | 1.12x | 0.95x | 1.60x | 2.16x | 2.29x | — |
| Debt to equity | — | 4.32x | 7.98x | 0.79x | 0.52x | 0.40x | 0.21x |
| Equity ratio | 9.9% | 7.7% | 6.4% | 42.8% | 54.6% | 54.4% | — |
| Interest coverage | -8.76x | -4.33x | -13.18x | -10.92x | -4.99x | -4.87x | — |
| R&D as a share of sales | 9.3% | 4.5% | 7.5% | 5.4% | 2.0% | 4.2% | — |
| Buybacks as a share of market value | -21.1% | 9.6% | 5.4% | 4.0% | -11.3% | -2.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -23.3% | -27.2% | -17.8% |
| Operating income | -63.6% | -39.6% | — |
| Net income | -34.2% | -13.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -17.2% | -97.8% | -54.0% | -6.3% |
| Net margin | -52.1% | -125.8% | -64.8% | -11.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.8 | -9.4 | -1.6 | -3.6 | -12.6 | -15.6 | 27.1 | 19.4 | 38.6 |
| Price to sales | 8.5 | 3.4 | 4.0 | 5.0 | 2.8 | 5.7 | 2.5 | 2.5 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Jun 2020.
| FY2020 | FY2019 | FY2018 | |
|---|---|---|---|
| Paid in the year | 0.40 | 0.04 | 0.06 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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