W 
56.24
+1.13%
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¥2.55bn
FY2016FY2025
Net income
−CN¥158.4m
FY2016FY2025
Free cash flow
−CN¥184.1m
FY2016FY2025
Shareholders' equity
CN¥1.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.55bn | CN¥2.22bn | CN¥1.81bn | CN¥1.40bn | CN¥1.05bn | CN¥604.2m | CN¥524.3m | CN¥699.8m | CN¥653.8m | CN¥312.0m |
| Gross profit | CN¥432.5m | CN¥350.1m | CN¥348.1m | CN¥290.1m | CN¥223.4m | CN¥165.7m | CN¥156.7m | CN¥342.8m | CN¥371.6m | CN¥142.0m |
| Research and development | CN¥140.1m | CN¥120.3m | CN¥88.7m | CN¥85.9m | CN¥51.2m | CN¥31.9m | CN¥23.7m | CN¥20.5m | CN¥21.7m | CN¥12.0m |
| Operating income | CN¥19.5m | −CN¥18.0m | CN¥68.8m | −CN¥65.3m | −CN¥9.6m | CN¥21.2m | CN¥64.5m | CN¥184.5m | CN¥249.2m | CN¥76.4m |
| Net income | −CN¥158.4m | −CN¥122.4m | −CN¥4.5m | −CN¥328.2m | −CN¥26.9m | CN¥14.1m | CN¥50.9m | CN¥158.0m | CN¥207.7m | CN¥74.7m |
| Diluted earnings per share | -0.71 | -0.55 | -0.03 | -2.02 | -0.22 | 0.11 | 0.41 | 1.29 | 2.25 | 0.63 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.44bn | CN¥4.43bn | CN¥3.82bn | CN¥3.22bn | CN¥2.61bn | CN¥2.01bn | CN¥1.81bn | CN¥1.80bn | CN¥1.02bn | CN¥814.6m |
| Cash and short-term investments | — | CN¥796.3m | CN¥706.8m | CN¥385.8m | CN¥298.3m | CN¥475.3m | CN¥714.2m | CN¥870.8m | CN¥180.9m | CN¥149.4m |
| Total liabilities | CN¥3.14bn | CN¥3.00bn | CN¥2.28bn | CN¥1.72bn | CN¥971.1m | CN¥397.4m | CN¥192.9m | CN¥167.5m | CN¥285.0m | CN¥288.8m |
| Debt | CN¥806.2m | CN¥1.63bn | CN¥1.21bn | CN¥844.0m | CN¥447.9m | CN¥149.9m | CN¥1.0m | CN¥18.0m | CN¥120.0m | CN¥184.8m |
| Shareholders' equity | CN¥1.10bn | CN¥1.25bn | CN¥1.38bn | CN¥1.38bn | CN¥1.53bn | CN¥1.62bn | CN¥1.62bn | CN¥1.63bn | CN¥733.6m | CN¥525.9m |
| Shares outstanding | 224m | 223m | 171m | 162m | 123m | 123m | 123m | 123m | 92m | 119m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥212.2m | CN¥127.0m | CN¥170.3m | −CN¥172.7m | CN¥91.0m | CN¥108.6m | CN¥78.1m | CN¥199.8m | CN¥222.0m | CN¥57.0m |
| Capital spending | −CN¥396.2m | −CN¥392.8m | −CN¥361.1m | −CN¥229.4m | −CN¥218.9m | −CN¥226.4m | −CN¥182.2m | −CN¥163.6m | −CN¥110.8m | −CN¥115.1m |
| Free cash flow | −CN¥184.1m | −CN¥265.8m | −CN¥190.9m | −CN¥402.2m | −CN¥127.9m | −CN¥117.8m | −CN¥104.1m | CN¥36.1m | CN¥111.2m | −CN¥58.0m |
| Dividends paid | −CN¥69.0m | −CN¥61.8m | −CN¥38.9m | −CN¥12.0m | −CN¥4.9m | −CN¥15.3m | −CN¥64.3m | −CN¥2.8m | −CN¥7.8m | −CN¥16.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥633.9m | CN¥594.0m | CN¥651.2m | CN¥710.1m | CN¥642.4m | CN¥547.6m | CN¥578.1m | CN¥600.7m |
| Gross profit | CN¥96.2m | CN¥99.4m | CN¥81.4m | CN¥124.7m | CN¥112.5m | CN¥102.6m | CN¥75.1m | CN¥118.5m |
| Operating income | −CN¥36.4m | −CN¥18.1m | −CN¥9.3m | CN¥13.3m | −CN¥20.6m | −CN¥17.1m | −CN¥33.9m | CN¥5.7m |
| Net income | −CN¥72.4m | −CN¥51.1m | −CN¥91.5m | −CN¥12.8m | −CN¥30.1m | −CN¥24.1m | −CN¥72.9m | −CN¥19.0m |
| Diluted earnings per share | -0.32 | -0.23 | -0.41 | -0.06 | -0.13 | -0.11 | -0.33 | -0.09 |
| Cash from operations | — | — | — | CN¥55.0m | CN¥25.0m | CN¥44.0m | — | — |
| Capital spending | −CN¥52.0m | −CN¥196.0m | −CN¥159.0m | −CN¥57.0m | −CN¥105.0m | −CN¥73.0m | −CN¥44.0m | −CN¥107.0m |
| Free cash flow | — | — | — | −CN¥2.0m | −CN¥80.0m | −CN¥29.0m | — | — |
| Total assets | CN¥4.46bn | CN¥4.43bn | CN¥4.44bn | CN¥4.36bn | CN¥4.58bn | CN¥4.53bn | CN¥4.43bn | CN¥4.42bn |
| Cash and short-term investments | — | — | — | CN¥649.9m | CN¥714.1m | CN¥870.3m | CN¥796.3m | CN¥871.8m |
| Debt | CN¥905.8m | CN¥947.0m | CN¥806.2m | CN¥1.08bn | CN¥1.67bn | CN¥1.60bn | CN¥1.58bn | CN¥1.54bn |
| Shareholders' equity | CN¥1.02bn | CN¥1.06bn | CN¥1.10bn | CN¥1.17bn | CN¥1.16bn | CN¥1.24bn | CN¥1.25bn | CN¥1.32bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.0% | 15.8% | 19.2% | 20.8% | 21.3% | 27.4% |
| Operating margin | -2.0% | -0.7% | 2.1% | -4.7% | -0.2% | 0.5% |
| Net margin | -6.2% | -5.5% | -0.3% | -23.5% | -2.6% | 2.3% |
| Return on equity | -14.4% | -9.8% | -0.3% | -23.9% | -1.8% | 0.9% |
| Return on assets | -3.6% | -2.8% | -0.1% | -10.2% | -1.0% | 0.7% |
| Free cash flow yield | 3.6% | 3.1% | 4.1% | 0.5% | 3.3% | 3.6% |
| Revenue growth | 14.9% | 22.5% | 29.8% | 33.1% | 73.8% | 15.2% |
| Earnings growth | 29.5% | 2594.9% | -98.6% | 1121.9% | -290.4% | -72.3% |
| Current ratio | 0.94x | 1.07x | 1.15x | 1.05x | 1.25x | 2.07x |
| Debt to equity | 0.73x | 1.26x | 0.86x | 0.55x | 0.24x | 0.09x |
| Equity ratio | 24.8% | 28.3% | 36.1% | 42.7% | 58.8% | 80.3% |
| Interest coverage | -0.83x | -0.32x | 1.02x | -2.29x | -0.13x | 6.38x |
| R&D as a share of sales | 5.5% | 5.4% | 4.9% | 6.1% | 4.9% | 5.3% |
| Buybacks as a share of market value | -0.4% | -30.1% | -5.7% | -31.8% | -0.1% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 22.2% | 33.4% | 27.6% |
| Operating income | — | -1.7% | -0.4% |
| Net income | -21.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.4% | 17.8% | 18.8% | 24.1% |
| Operating margin | 0.0% | 0.1% | 0.2% | 5.1% |
| Net margin | -5.9% | -7.7% | -6.5% | -0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -50.0 | -46.1 | -983.4 | -7.4 | -55.6 | 107.3 | 37.0 | 15.3 |
| Price to sales | 3.1 | 2.5 | 2.5 | 1.7 | 1.4 | 2.5 | 3.6 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 16 Jul 2025.
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.046 | 0.059 | 0.024 | 0.074 | 0.31 |
- 13-for-10 split · 24 May 2024
- 13-for-10 split · 23 May 2022
- 13-for-10 split · 23 Jul 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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