L 
8.60
-1.71%
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¥835.9m
FY2016FY2025
Net income
−CN¥446.5m
FY2016FY2025
Free cash flow
CN¥376.5m
FY2016FY2025
Shareholders' equity
CN¥1.90bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥835.9m | CN¥736.7m | CN¥1.68bn | CN¥1.74bn | CN¥1.72bn | CN¥1.54bn | CN¥1.38bn | CN¥979.0m | CN¥807.3m | CN¥468.1m |
| Gross profit | CN¥145.2m | CN¥178.2m | CN¥645.7m | CN¥605.0m | CN¥533.7m | CN¥615.6m | CN¥575.3m | CN¥443.4m | CN¥265.7m | CN¥148.3m |
| Research and development | CN¥126.7m | CN¥140.7m | CN¥155.0m | CN¥128.4m | CN¥124.6m | CN¥108.2m | CN¥75.1m | CN¥45.8m | CN¥16.7m | CN¥10.1m |
| Operating income | −CN¥247.1m | −CN¥386.1m | CN¥62.6m | CN¥159.9m | CN¥148.0m | CN¥281.4m | CN¥251.6m | CN¥216.9m | CN¥111.6m | CN¥25.5m |
| Net income | −CN¥446.5m | −CN¥309.8m | CN¥56.3m | CN¥137.9m | CN¥132.8m | CN¥239.5m | CN¥213.5m | CN¥172.5m | CN¥103.0m | CN¥51.5m |
| Diluted earnings per share | -0.78 | -0.52 | 0.11 | 0.25 | 0.24 | 0.38 | 0.32 | 0.34 | 0.26 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.87bn | CN¥5.84bn | CN¥6.13bn | CN¥5.40bn | CN¥4.49bn | CN¥4.56bn | CN¥3.79bn | CN¥3.00bn | CN¥1.96bn | CN¥1.31bn |
| Cash and short-term investments | — | CN¥295.6m | CN¥379.5m | CN¥576.2m | CN¥427.4m | CN¥631.6m | CN¥736.7m | CN¥599.9m | CN¥402.1m | CN¥339.4m |
| Total liabilities | CN¥2.91bn | CN¥3.40bn | CN¥3.33bn | CN¥2.62bn | CN¥1.80bn | CN¥1.89bn | CN¥1.71bn | CN¥1.23bn | CN¥957.0m | CN¥408.6m |
| Debt | CN¥323.1m | CN¥1.37bn | CN¥1.27bn | CN¥749.7m | CN¥459.2m | CN¥113.9m | CN¥644.7m | CN¥88.0m | CN¥278.4m | CN¥2.8m |
| Shareholders' equity | CN¥1.90bn | CN¥2.36bn | CN¥2.70bn | CN¥2.69bn | CN¥2.60bn | CN¥2.59bn | CN¥2.04bn | CN¥1.75bn | CN¥1.01bn | CN¥883.3m |
| Shares outstanding | 574m | 601m | 508m | 550m | 552m | 636m | 665m | 504m | 400m | 428m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥436.8m | CN¥399.1m | −CN¥171.2m | CN¥48.6m | −CN¥151.1m | CN¥158.2m | −CN¥122.0m | −CN¥269.8m | CN¥138.4m | −CN¥57.2m |
| Capital spending | −CN¥60.3m | −CN¥409.5m | −CN¥461.9m | −CN¥100.3m | −CN¥77.9m | −CN¥82.8m | −CN¥116.8m | −CN¥94.0m | −CN¥103.0m | −CN¥72.0m |
| Free cash flow | CN¥376.5m | −CN¥10.5m | −CN¥633.2m | −CN¥51.7m | −CN¥229.0m | CN¥75.4m | −CN¥238.8m | −CN¥363.7m | CN¥35.4m | −CN¥129.2m |
| Dividends paid | −CN¥54.3m | −CN¥87.4m | −CN¥90.6m | −CN¥49.3m | −CN¥69.6m | −CN¥93.7m | −CN¥63.2m | −CN¥105.6m | −CN¥16.5m | −CN¥19.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥97.8m | CN¥116.8m | CN¥232.1m | CN¥290.1m | CN¥143.3m | CN¥170.4m | CN¥374.1m | CN¥136.0m |
| Gross profit | CN¥40.0m | CN¥31.1m | CN¥34.6m | CN¥34.7m | CN¥33.8m | CN¥42.2m | CN¥57.6m | CN¥43.3m |
| Operating income | −CN¥50.4m | −CN¥59.7m | −CN¥109.2m | −CN¥38.8m | −CN¥48.9m | −CN¥41.8m | −CN¥192.6m | −CN¥60.1m |
| Net income | −CN¥120.3m | −CN¥49.8m | −CN¥345.9m | −CN¥28.6m | −CN¥37.4m | −CN¥34.7m | −CN¥148.2m | −CN¥46.8m |
| Diluted earnings per share | -0.21 | -0.09 | -0.60 | -0.05 | -0.07 | -0.06 | -0.25 | -0.08 |
| Cash from operations | — | — | — | CN¥79.0m | CN¥82.0m | −CN¥65.0m | — | CN¥100.0m |
| Capital spending | −CN¥47.0m | −CN¥78.0m | — | −CN¥24.0m | −CN¥18.0m | −CN¥22.0m | −CN¥37.0m | −CN¥6.0m |
| Free cash flow | — | — | — | CN¥55.0m | CN¥64.0m | −CN¥87.0m | — | CN¥94.0m |
| Total assets | CN¥4.67bn | CN¥4.70bn | CN¥4.87bn | CN¥5.51bn | CN¥5.76bn | CN¥5.81bn | CN¥5.84bn | CN¥6.08bn |
| Cash and short-term investments | — | — | — | CN¥246.1m | CN¥245.5m | CN¥196.0m | CN¥295.6m | CN¥312.5m |
| Debt | CN¥347.1m | CN¥351.9m | CN¥323.1m | CN¥1.23bn | CN¥1.30bn | CN¥1.26bn | CN¥1.36bn | CN¥1.91bn |
| Shareholders' equity | CN¥1.73bn | CN¥1.85bn | CN¥1.90bn | CN¥2.25bn | CN¥2.29bn | CN¥2.33bn | CN¥2.36bn | CN¥2.51bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.4% | 24.2% | 38.5% | 34.8% | 31.1% | 40.0% |
| Operating margin | -54.5% | -44.5% | 6.3% | 10.4% | 9.6% | 18.8% |
| Net margin | -53.4% | -42.1% | 3.4% | 7.9% | 7.7% | 15.6% |
| Return on equity | -23.5% | -13.1% | 2.1% | 5.1% | 5.1% | 9.2% |
| Return on assets | -9.2% | -5.3% | 0.9% | 2.6% | 3.0% | 5.2% |
| Free cash flow yield | 11.0% | 17.1% | 7.3% | 3.4% | -1.7% | 4.8% |
| Revenue growth | 13.5% | -56.1% | -3.6% | 1.4% | 11.5% | 11.6% |
| Earnings growth | 44.1% | -650.5% | -59.2% | 3.8% | -44.6% | 12.2% |
| Current ratio | 1.06x | 1.14x | 1.18x | 1.34x | 1.41x | 1.32x |
| Debt to equity | 0.17x | 0.57x | 0.47x | 0.27x | 0.08x | 0.01x |
| Equity ratio | 39.0% | 40.4% | 44.0% | 49.8% | 58.1% | 56.9% |
| Interest coverage | -7.97x | -5.42x | 2.37x | 8.01x | 9.35x | 50.35x |
| R&D as a share of sales | 15.2% | 19.1% | 9.2% | 7.4% | 7.3% | 7.0% |
| Buybacks as a share of market value | 4.4% | -18.3% | 7.7% | 0.4% | 13.2% | 4.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.7% | -11.5% | 9.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.6% | 31.5% | 33.0% | 34.9% |
| Operating margin | -40.3% | -8.2% | 0.2% | 5.5% |
| Net margin | -48.1% | -11.3% | -2.3% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.2 | -20.4 | 115.6 | 54.8 | 37.2 | 24.7 | 35.3 | 28.1 | 39.6 | 166.4 |
| Price to sales | 8.1 | 8.6 | 3.9 | 4.3 | 2.9 | 3.8 | 5.5 | 5.0 | 5.0 | 18.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Jul 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.049 | 0.085 | 0.085 | 0.12 | 0.16 | 0.12 | 0.20 | 0.036 |
- 4-for-1 split · 7 Apr 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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