S 
9.26
+9.98%
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¥1.05bn
FY2016FY2025
Net income
−CN¥495.0m
FY2016FY2025
Free cash flow
−CN¥79.2m
FY2016FY2025
Shareholders' equity
CN¥878.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.05bn | CN¥1.33bn | CN¥1.82bn | CN¥1.58bn | CN¥2.61bn | CN¥2.35bn | CN¥2.55bn | CN¥2.45bn | CN¥1.83bn | CN¥1.45bn |
| Research and development | CN¥393.2m | CN¥447.9m | CN¥602.7m | CN¥690.7m | CN¥759.8m | CN¥648.3m | CN¥714.7m | CN¥591.9m | CN¥479.1m | CN¥401.7m |
| Operating income | −CN¥371.2m | −CN¥199.3m | −CN¥266.9m | −CN¥553.7m | CN¥60.7m | CN¥70.2m | CN¥70.0m | CN¥329.6m | CN¥279.9m | CN¥105.0m |
| Net income | −CN¥495.0m | −CN¥203.5m | −CN¥264.5m | −CN¥583.2m | CN¥63.1m | CN¥85.0m | CN¥91.1m | CN¥322.0m | CN¥270.8m | CN¥174.7m |
| Diluted earnings per share | -0.84 | -0.39 | -0.56 | -1.18 | 0.13 | 0.17 | 0.18 | 0.64 | 0.55 | 1.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.85bn | CN¥2.27bn | CN¥2.97bn | CN¥3.32bn | CN¥3.71bn | CN¥3.53bn | CN¥2.88bn | CN¥2.58bn | CN¥1.95bn | CN¥1.51bn |
| Cash and short-term investments | — | CN¥422.2m | CN¥969.9m | CN¥829.5m | CN¥637.2m | CN¥859.1m | CN¥406.4m | CN¥324.1m | CN¥248.8m | CN¥473.5m |
| Total liabilities | CN¥968.7m | CN¥1.19bn | CN¥1.89bn | CN¥2.00bn | CN¥1.77bn | CN¥1.58bn | CN¥1.03bn | CN¥826.4m | CN¥558.5m | CN¥369.7m |
| Debt | CN¥73.5m | CN¥501.7m | CN¥1.01bn | CN¥1.20bn | CN¥727.3m | CN¥571.1m | CN¥120.2m | CN¥80.0m | — | CN¥1.5m |
| Shareholders' equity | CN¥878.2m | CN¥1.08bn | CN¥1.08bn | CN¥1.31bn | CN¥1.92bn | CN¥1.92bn | CN¥1.83bn | CN¥1.73bn | CN¥1.39bn | CN¥1.14bn |
| Shares outstanding | 592m | 522m | 468m | 494m | 493m | 502m | 504m | 500m | 490m | 132m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥11.1m | −CN¥261.3m | CN¥361.8m | −CN¥120.9m | −CN¥87.0m | CN¥102.9m | −CN¥86.3m | CN¥20.0m | CN¥81.7m | CN¥132.9m |
| Capital spending | −CN¥68.1m | −CN¥100.6m | −CN¥58.3m | −CN¥76.3m | −CN¥73.4m | −CN¥69.6m | −CN¥63.2m | −CN¥70.5m | −CN¥56.1m | −CN¥43.0m |
| Free cash flow | −CN¥79.2m | −CN¥361.9m | CN¥303.5m | −CN¥197.3m | −CN¥160.4m | CN¥33.2m | −CN¥149.5m | −CN¥50.6m | CN¥25.7m | CN¥89.9m |
| Dividends paid | −CN¥14.6m | −CN¥18.0m | −CN¥21.7m | −CN¥19.8m | −CN¥18.6m | −CN¥19.8m | −CN¥35.0m | −CN¥27.5m | −CN¥18.0m | −CN¥20.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥197.4m | CN¥172.7m | CN¥305.1m | CN¥266.1m | CN¥189.3m | CN¥285.6m | CN¥591.2m | CN¥320.2m |
| Operating income | −CN¥123.0m | −CN¥151.9m | −CN¥39.0m | −CN¥132.6m | −CN¥147.5m | −CN¥71.1m | CN¥157.5m | −CN¥93.6m |
| Net income | −CN¥123.9m | −CN¥164.1m | −CN¥143.8m | −CN¥134.4m | −CN¥147.4m | −CN¥69.4m | CN¥152.7m | −CN¥97.2m |
| Diluted earnings per share | -0.21 | -0.28 | -0.24 | -0.23 | -0.25 | -0.12 | 0.29 | -0.19 |
| Cash from operations | — | — | — | −CN¥8.0m | −CN¥43.0m | −CN¥178.0m | — | −CN¥12.0m |
| Capital spending | −CN¥1.0m | −CN¥18.0m | −CN¥30.0m | −CN¥12.0m | −CN¥2.0m | −CN¥22.0m | −CN¥38.0m | −CN¥13.0m |
| Free cash flow | — | — | — | −CN¥20.0m | −CN¥45.0m | −CN¥200.0m | — | −CN¥25.0m |
| Total assets | CN¥1.58bn | CN¥1.62bn | CN¥1.85bn | CN¥2.12bn | CN¥2.13bn | CN¥2.20bn | CN¥2.27bn | CN¥2.17bn |
| Cash and short-term investments | — | — | — | CN¥265.1m | CN¥256.6m | CN¥252.9m | CN¥422.2m | CN¥430.1m |
| Debt | CN¥75.5m | CN¥73.5m | CN¥73.5m | CN¥326.0m | CN¥619.3m | CN¥512.1m | CN¥483.4m | CN¥878.3m |
| Shareholders' equity | CN¥590.2m | CN¥714.2m | CN¥878.2m | CN¥844.8m | CN¥859.2m | CN¥1.01bn | CN¥1.08bn | CN¥665.4m |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -45.6% | -13.5% | -12.3% | -32.7% | 3.8% | 4.2% |
| Net margin | -47.3% | -15.3% | -14.6% | -37.0% | 2.4% | 3.6% |
| Return on equity | -56.4% | -18.9% | -24.5% | -44.4% | 3.3% | 4.4% |
| Return on assets | -26.7% | -9.0% | -8.9% | -17.6% | 1.7% | 2.4% |
| Free cash flow yield | 1.1% | -3.5% | 10.3% | -1.0% | -0.3% | 4.0% |
| Revenue growth | -21.4% | -26.7% | 15.2% | -39.7% | 11.0% | -7.6% |
| Earnings growth | 143.3% | -23.1% | -54.7% | -1023.7% | -25.7% | -6.7% |
| Current ratio | 1.52x | 2.08x | 2.09x | 2.05x | 2.65x | 2.85x |
| Debt to equity | 0.08x | 0.45x | 0.91x | 0.86x | 0.37x | 0.29x |
| Equity ratio | 47.4% | 47.4% | 36.3% | 39.6% | 51.7% | 54.6% |
| Interest coverage | -30.49x | -8.43x | -5.93x | -12.51x | 2.39x | 3.57x |
| R&D as a share of sales | 37.6% | 33.7% | 33.2% | 43.8% | 29.1% | 27.5% |
| Buybacks as a share of market value | -13.5% | -11.5% | 5.3% | -0.2% | 1.7% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.8% | -15.0% | -1.5% |
| Operating income | -12.5% | — | — |
| Net income | -5.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -24.0% | -24.1% | -11.7% | -2.1% |
| Net margin | -29.4% | -26.8% | -13.0% | -2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -13.2 | -17.2 | -15.6 | -4.4 | 53.8 | 43.1 | 60.9 | 13.2 | 16.3 | 6.3 |
| Price to sales | 6.3 | 2.6 | 2.3 | 1.6 | 1.3 | 1.6 | 2.2 | 1.7 | 2.4 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.04 | 0.071 | 0.056 | 0.037 |
- 7-for-5 split · 6 Jun 2019
- 7-for-5 split · 29 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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