B 
4.57
-1.30%
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¥884.4m
FY2016FY2025
Net income
−CN¥10.1m
FY2016FY2025
Free cash flow
−CN¥18.6m
FY2016FY2025
Shareholders' equity
CN¥224.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥884.4m | CN¥786.7m | CN¥532.8m | CN¥557.3m | CN¥1.52bn | CN¥976.9m | CN¥977.4m | CN¥1.05bn | CN¥747.4m | CN¥696.2m |
| Gross profit | CN¥157.3m | CN¥60.3m | CN¥52.9m | CN¥34.8m | CN¥257.4m | CN¥204.5m | CN¥223.1m | CN¥239.0m | CN¥145.1m | CN¥166.3m |
| Research and development | CN¥33.8m | CN¥28.7m | CN¥25.0m | CN¥28.6m | CN¥42.2m | CN¥31.1m | CN¥33.1m | CN¥27.0m | CN¥21.5m | CN¥23.7m |
| Operating income | CN¥16.2m | −CN¥166.7m | −CN¥338.9m | −CN¥366.1m | CN¥36.6m | CN¥32.9m | −CN¥18.5m | CN¥34.7m | −CN¥32.4m | CN¥13.6m |
| Net income | −CN¥10.1m | −CN¥231.2m | −CN¥308.5m | −CN¥361.7m | CN¥26.4m | CN¥28.5m | −CN¥67.0m | CN¥12.9m | −CN¥59.3m | CN¥13.1m |
| Diluted earnings per share | -0.03 | -0.66 | -0.82 | -0.95 | 0.07 | 0.10 | -0.23 | 0.04 | -0.20 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.33bn | CN¥1.68bn | CN¥1.79bn | CN¥2.04bn | CN¥2.44bn | CN¥2.40bn | CN¥2.30bn | CN¥2.29bn | CN¥1.86bn | CN¥1.79bn |
| Cash and short-term investments | — | CN¥112.1m | CN¥70.5m | CN¥111.9m | CN¥150.7m | CN¥208.5m | CN¥173.1m | CN¥162.2m | CN¥222.0m | CN¥275.0m |
| Total liabilities | CN¥1.11bn | CN¥1.45bn | CN¥1.36bn | CN¥1.31bn | CN¥1.34bn | CN¥1.63bn | CN¥1.55bn | CN¥1.48bn | CN¥1.08bn | CN¥936.4m |
| Debt | — | CN¥199.5m | CN¥109.2m | CN¥318.4m | CN¥384.1m | CN¥538.5m | CN¥654.0m | CN¥605.1m | CN¥473.9m | CN¥399.1m |
| Shareholders' equity | CN¥224.1m | CN¥231.9m | CN¥428.2m | CN¥730.8m | CN¥1.10bn | CN¥747.9m | CN¥717.4m | CN¥788.3m | CN¥775.2m | CN¥844.2m |
| Shares outstanding | 394m | 351m | 375m | 381m | 381m | 293m | 287m | 293m | 294m | 295m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥63.5m | CN¥121.1m | CN¥11.3m | CN¥62.4m | −CN¥103.1m | CN¥271.6m | CN¥144.3m | CN¥75.5m | −CN¥78.6m | CN¥146.9m |
| Capital spending | −CN¥82.1m | −CN¥109.2m | −CN¥14.7m | −CN¥17.1m | −CN¥18.7m | −CN¥85.7m | −CN¥62.4m | −CN¥37.8m | −CN¥88.6m | −CN¥94.1m |
| Free cash flow | −CN¥18.6m | CN¥11.9m | −CN¥3.4m | CN¥45.3m | −CN¥121.8m | CN¥185.9m | CN¥81.9m | CN¥37.7m | −CN¥167.2m | CN¥52.8m |
| Dividends paid | −CN¥4.5m | −CN¥5.4m | −CN¥10.0m | −CN¥7.9m | −CN¥22.0m | −CN¥30.5m | −CN¥3.9m | −CN¥37.3m | −CN¥32.5m | −CN¥21.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥131.0m | CN¥31.2m | CN¥336.6m | CN¥237.5m | CN¥193.0m | CN¥117.2m | CN¥387.9m | CN¥245.9m |
| Gross profit | CN¥26.9m | CN¥8.5m | CN¥53.5m | CN¥43.9m | CN¥35.3m | CN¥24.6m | CN¥8.6m | CN¥31.0m |
| Operating income | CN¥3.5m | −CN¥13.0m | −CN¥7.9m | CN¥1.9m | CN¥3.3m | CN¥4.6m | −CN¥134.8m | −CN¥6.8m |
| Net income | −CN¥8.3m | −CN¥9.8m | −CN¥19.9m | CN¥3.4m | CN¥2.5m | CN¥3.9m | −CN¥190.0m | −CN¥7.1m |
| Diluted earnings per share | -0.02 | -0.02 | -0.05 | 0.01 | 0.01 | 0.01 | -0.54 | -0.02 |
| Cash from operations | — | — | — | −CN¥23.0m | CN¥39.0m | −CN¥67.0m | — | −CN¥90.0m |
| Capital spending | −CN¥7.0m | −CN¥8.0m | −CN¥17.0m | −CN¥16.0m | −CN¥26.0m | −CN¥22.0m | −CN¥43.0m | −CN¥8.0m |
| Free cash flow | — | — | — | −CN¥39.0m | CN¥13.0m | −CN¥89.0m | — | −CN¥98.0m |
| Total assets | CN¥1.33bn | CN¥1.26bn | CN¥1.33bn | CN¥1.71bn | CN¥1.73bn | CN¥1.65bn | CN¥1.68bn | CN¥1.81bn |
| Cash and short-term investments | — | — | — | CN¥67.9m | CN¥72.9m | CN¥69.8m | CN¥112.1m | CN¥59.0m |
| Debt | — | — | — | CN¥273.4m | CN¥164.7m | CN¥171.2m | CN¥170.8m | CN¥163.7m |
| Shareholders' equity | CN¥204.6m | CN¥212.8m | CN¥224.1m | CN¥251.0m | CN¥238.4m | CN¥237.3m | CN¥231.9m | CN¥392.8m |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 17.8% | 7.7% | 9.9% | 6.3% | 17.0% | 20.9% | — |
| Operating margin | 1.4% | -21.2% | -59.8% | -65.7% | 4.2% | 7.5% | — |
| Net margin | -1.1% | -29.4% | -57.9% | -64.9% | 1.7% | 2.9% | — |
| Return on equity | -4.5% | -99.7% | -72.0% | -49.5% | 2.4% | 3.8% | — |
| Return on assets | -0.8% | -13.7% | -17.3% | -17.7% | 1.1% | 1.2% | — |
| Free cash flow yield | 7.5% | 13.3% | 1.4% | 4.2% | -4.5% | 24.6% | — |
| Revenue growth | 12.4% | 47.7% | -4.4% | -63.3% | 55.3% | -0.1% | — |
| Earnings growth | -95.6% | -25.1% | -14.7% | -1470.3% | -7.3% | -142.5% | — |
| Current ratio | 0.90x | 0.87x | 1.03x | 1.09x | 1.18x | 0.88x | — |
| Debt to equity | — | 0.74x | 0.69x | 0.25x | 0.24x | 1.07x | 0.60x |
| Equity ratio | 16.8% | 13.8% | 24.0% | 35.8% | 45.1% | 31.1% | — |
| Interest coverage | 0.82x | -7.04x | -16.09x | -15.14x | 2.10x | 1.62x | — |
| R&D as a share of sales | 3.8% | 3.6% | 4.7% | 5.1% | 2.8% | 3.2% | — |
| Buybacks as a share of market value | -12.1% | 6.3% | 1.7% | -0.1% | -30.0% | -2.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.6% | -2.0% | 3.8% |
| Operating income | — | -13.1% | -3.7% |
| Net income | -69.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.0% | 11.1% | 14.6% | 18.2% |
| Operating margin | -9.0% | -31.0% | -15.0% | -8.2% |
| Net margin | -14.4% | -33.0% | -16.3% | -10.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -202.2 | -5.3 | -6.8 | -5.6 | 87.3 | 60.3 | -35.3 | 262.4 | -76.1 | 410.7 |
| Price to sales | 2.3 | 1.6 | 3.9 | 3.6 | 1.5 | 1.8 | 2.4 | 3.2 | 6.0 | 7.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Aug 2022.
| FY2022 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|
| Paid in the year | 0.021 | 0.013 | 0.022 | 0.021 |
- 2-for-1 split · 22 Jul 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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