Z 
27.29
-0.87%
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¥2.11bn
FY2016FY2025
Net income
−CN¥63.8m
FY2016FY2025
Free cash flow
CN¥175.3m
FY2016FY2025
Shareholders' equity
CN¥1.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.11bn | CN¥1.98bn | CN¥1.84bn | CN¥1.89bn | CN¥1.34bn | CN¥928.1m | CN¥660.8m | CN¥872.4m | CN¥726.4m | CN¥331.7m |
| Research and development | CN¥213.6m | CN¥236.4m | CN¥360.3m | CN¥134.7m | CN¥97.5m | CN¥72.3m | CN¥45.5m | CN¥51.7m | CN¥25.3m | CN¥13.3m |
| Operating income | CN¥131.5m | CN¥29.9m | −CN¥981.3m | CN¥62.6m | CN¥27.1m | CN¥55.0m | −CN¥155.6m | CN¥149.9m | CN¥203.7m | CN¥72.2m |
| Net income | −CN¥63.8m | CN¥11.5m | −CN¥607.2m | CN¥79.0m | CN¥33.4m | CN¥47.8m | −CN¥148.4m | CN¥115.4m | CN¥173.4m | CN¥63.4m |
| Diluted earnings per share | -0.27 | 0.05 | -2.61 | 0.34 | 0.16 | 0.21 | -0.70 | 0.57 | 0.74 | 0.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.92bn | CN¥5.09bn | CN¥5.30bn | CN¥4.29bn | CN¥3.27bn | CN¥2.21bn | CN¥1.89bn | CN¥1.44bn | CN¥1.24bn | CN¥472.2m |
| Cash and short-term investments | — | CN¥163.8m | CN¥178.3m | CN¥106.7m | CN¥358.5m | CN¥115.0m | CN¥283.2m | CN¥136.1m | CN¥101.3m | CN¥68.0m |
| Total liabilities | CN¥3.28bn | CN¥3.34bn | CN¥3.51bn | CN¥2.28bn | CN¥1.67bn | CN¥1.11bn | CN¥824.1m | CN¥563.8m | CN¥508.0m | CN¥220.4m |
| Debt | CN¥226.5m | CN¥1.10bn | CN¥898.1m | CN¥1.56bn | CN¥944.5m | CN¥578.9m | CN¥547.9m | CN¥381.2m | CN¥241.4m | CN¥179.4m |
| Shareholders' equity | CN¥1.50bn | CN¥1.56bn | CN¥1.55bn | CN¥1.91bn | CN¥1.60bn | CN¥1.11bn | CN¥1.06bn | CN¥880.0m | CN¥729.3m | CN¥251.8m |
| Shares outstanding | 232m | 211m | 233m | 235m | 204m | 225m | 211m | 201m | 235m | 143m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥359.2m | CN¥887.5m | −CN¥339.5m | −CN¥166.4m | CN¥27.9m | CN¥105.2m | CN¥25.6m | CN¥191.5m | −CN¥30.3m | CN¥33.9m |
| Capital spending | −CN¥183.8m | −CN¥256.5m | −CN¥884.8m | −CN¥744.5m | −CN¥626.8m | −CN¥395.2m | −CN¥283.5m | −CN¥406.6m | −CN¥299.6m | −CN¥110.7m |
| Free cash flow | CN¥175.3m | CN¥630.9m | −CN¥1.22bn | −CN¥910.9m | −CN¥599.0m | −CN¥290.0m | −CN¥257.9m | −CN¥215.1m | −CN¥329.9m | −CN¥76.8m |
| Dividends paid | −CN¥81.9m | −CN¥110.9m | −CN¥114.3m | −CN¥3.3m | −CN¥4.8m | −CN¥28.9m | −CN¥11.6m | −CN¥42.7m | −CN¥11.5m | −CN¥6.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥459.7m | CN¥608.1m | CN¥650.4m | CN¥618.2m | CN¥410.8m | CN¥428.4m | CN¥544.9m | CN¥603.1m |
| Operating income | −CN¥84.7m | CN¥57.4m | CN¥22.1m | CN¥31.3m | −CN¥63.4m | CN¥1.4m | CN¥48.4m | CN¥5.1m |
| Net income | CN¥119.1m | CN¥23.8m | −CN¥49.2m | CN¥26.6m | −CN¥52.1m | CN¥10.9m | CN¥54.1m | CN¥23.9m |
| Diluted earnings per share | 0.51 | 0.10 | -0.21 | 0.11 | -0.22 | 0.05 | 0.26 | 0.11 |
| Cash from operations | — | — | — | CN¥85.0m | CN¥70.0m | CN¥34.0m | CN¥203.0m | CN¥378.0m |
| Capital spending | −CN¥59.0m | −CN¥25.0m | −CN¥157.0m | −CN¥7.0m | −CN¥33.0m | −CN¥51.0m | −CN¥2.0m | −CN¥222.0m |
| Free cash flow | — | — | — | CN¥78.0m | CN¥37.0m | −CN¥17.0m | CN¥201.0m | CN¥156.0m |
| Total assets | CN¥4.33bn | CN¥4.95bn | CN¥4.92bn | CN¥4.94bn | CN¥4.76bn | CN¥4.98bn | CN¥5.09bn | CN¥5.42bn |
| Cash and short-term investments | — | — | — | CN¥42.2m | CN¥48.3m | CN¥63.3m | CN¥163.8m | CN¥128.1m |
| Debt | CN¥246.4m | CN¥226.5m | CN¥226.5m | CN¥1.33bn | CN¥1.16bn | CN¥1.08bn | CN¥1.08bn | CN¥905.2m |
| Shareholders' equity | CN¥1.69bn | CN¥1.52bn | CN¥1.50bn | CN¥1.55bn | CN¥1.52bn | CN¥1.57bn | CN¥1.56bn | CN¥1.51bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -2.7% | 1.5% | -46.4% | 6.9% | 5.5% | 8.8% |
| Net margin | -3.0% | 0.6% | -33.1% | 4.2% | 2.5% | 5.2% |
| Return on equity | -4.3% | 0.7% | -39.1% | 4.1% | 2.1% | 4.3% |
| Return on assets | -1.3% | 0.2% | -11.5% | 1.8% | 1.0% | 2.2% |
| Free cash flow yield | 7.0% | 16.1% | 7.0% | 7.3% | 9.6% | 6.6% |
| Revenue growth | 6.4% | 7.9% | -2.8% | 41.0% | 44.3% | 40.5% |
| Earnings growth | -653.9% | -101.9% | -868.9% | 136.3% | -30.1% | -132.2% |
| Current ratio | 0.52x | 0.54x | 0.69x | 1.36x | 1.19x | 1.35x |
| Debt to equity | 0.15x | 0.69x | 0.55x | 0.78x | 0.43x | 0.45x |
| Equity ratio | 30.4% | 30.7% | 29.3% | 44.5% | 48.9% | 50.1% |
| Interest coverage | -0.66x | 0.26x | -6.65x | 1.89x | 1.58x | 2.76x |
| R&D as a share of sales | 10.1% | 11.9% | 19.6% | 7.1% | 7.3% | 7.8% |
| Buybacks as a share of market value | -10.0% | 9.3% | 0.8% | -15.2% | 9.3% | -6.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.7% | 17.8% | 21.9% |
| Operating income | 28.1% | 19.0% | 7.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.9% | -9.7% | -6.7% | -2.6% |
| Net margin | -1.3% | -7.4% | -5.0% | -1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -61.6 | 313.6 | -14.1 | 178.8 | 225.3 | 94.3 | -36.7 | 39.1 | 53.1 |
| Price to sales | 1.9 | 1.8 | 4.7 | 7.5 | 5.6 | 4.9 | 8.3 | 5.2 | 12.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 2 Jul 2025.
| FY2025 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.046 | 0.014 | 0.022 | 0.058 | 0.087 |
- 7-for-5 split · 7 May 2019
- 7-for-5 split · 28 Sept 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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