H 
6.72
0.00%
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¥1.39bn
FY2016FY2025
Net income
−CN¥653.1m
FY2016FY2025
Free cash flow
−CN¥668.1m
FY2016FY2025
Shareholders' equity
CN¥56.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.39bn | CN¥2.03bn | CN¥5.50bn | CN¥8.50bn | CN¥13.21bn | CN¥9.14bn | CN¥10.51bn | CN¥10.75bn | CN¥8.22bn | CN¥6.64bn |
| Gross profit | CN¥75.2m | CN¥231.2m | CN¥548.3m | CN¥875.4m | CN¥1.45bn | CN¥1.18bn | CN¥1.23bn | CN¥1.24bn | CN¥921.6m | CN¥792.4m |
| Research and development | CN¥32.2m | CN¥73.8m | CN¥179.2m | CN¥264.6m | CN¥317.8m | CN¥219.0m | CN¥259.8m | CN¥274.4m | CN¥224.9m | CN¥150.9m |
| Operating income | — | −CN¥521.4m | −CN¥712.6m | −CN¥569.3m | CN¥271.7m | CN¥255.5m | CN¥245.4m | CN¥143.7m | CN¥150.8m | CN¥161.8m |
| Net income | −CN¥653.1m | −CN¥546.6m | −CN¥684.2m | −CN¥646.5m | CN¥229.0m | CN¥209.5m | CN¥192.2m | CN¥128.4m | CN¥126.7m | CN¥102.7m |
| Diluted earnings per share | -2.57 | -2.15 | -2.77 | -2.53 | 0.89 | 0.97 | 0.88 | 0.55 | 0.59 | 0.53 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.18bn | CN¥2.18bn | CN¥3.10bn | CN¥6.28bn | CN¥9.12bn | CN¥6.90bn | CN¥6.08bn | CN¥6.21bn | CN¥4.76bn | CN¥3.92bn |
| Cash and short-term investments | — | CN¥349.9m | CN¥340.7m | CN¥402.4m | CN¥987.2m | CN¥404.8m | CN¥372.0m | CN¥395.5m | CN¥422.0m | CN¥360.3m |
| Total liabilities | CN¥2.41bn | CN¥1.98bn | CN¥2.33bn | CN¥4.73bn | CN¥6.80bn | CN¥5.13bn | CN¥4.38bn | CN¥4.87bn | CN¥3.54bn | CN¥3.27bn |
| Debt | CN¥246.2m | CN¥817.7m | CN¥573.6m | CN¥1.48bn | CN¥1.95bn | CN¥1.20bn | CN¥836.7m | CN¥1.31bn | CN¥951.6m | CN¥1.01bn |
| Shareholders' equity | CN¥56.2m | CN¥427.1m | CN¥955.3m | CN¥1.56bn | CN¥2.32bn | CN¥1.78bn | CN¥1.69bn | CN¥1.34bn | CN¥1.21bn | CN¥638.3m |
| Shares outstanding | 254m | 254m | 247m | 255m | 257m | 217m | 219m | 234m | 213m | 195m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥666.0m | −CN¥413.9m | CN¥701.0m | CN¥525.2m | CN¥360.3m | −CN¥405.9m | CN¥779.5m | −CN¥450.6m | −CN¥280.3m | −CN¥175.3m |
| Capital spending | −CN¥2.1m | −CN¥356,474 | −CN¥1.5m | −CN¥12.1m | −CN¥25.2m | −CN¥21.9m | −CN¥34.0m | −CN¥19.5m | −CN¥9.1m | −CN¥23.2m |
| Free cash flow | −CN¥668.1m | −CN¥414.2m | CN¥699.5m | CN¥513.1m | CN¥335.1m | −CN¥427.8m | CN¥745.5m | −CN¥470.2m | −CN¥289.3m | −CN¥198.4m |
| Dividends paid | −CN¥49.4m | −CN¥37.6m | −CN¥42.6m | −CN¥70.9m | −CN¥63.4m | −CN¥56.6m | −CN¥56.0m | −CN¥107.3m | −CN¥76.3m | −CN¥69.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥392.4m | CN¥371.9m | CN¥425.6m | CN¥350.8m | CN¥440.1m | CN¥174.8m | CN¥229.5m | CN¥387.8m |
| Gross profit | CN¥66.5m | CN¥64.4m | −CN¥52.9m | CN¥42.0m | CN¥70.2m | CN¥16.0m | −CN¥44.0m | CN¥30.5m |
| Operating income | −CN¥17.5m | −CN¥17.3m | −CN¥173.7m | −CN¥60.3m | −CN¥126.4m | −CN¥70.2m | −CN¥327.1m | −CN¥111.2m |
| Net income | −CN¥99.3m | −CN¥23.8m | −CN¥385.9m | −CN¥58.4m | −CN¥153.2m | −CN¥55.6m | −CN¥321.6m | −CN¥122.3m |
| Diluted earnings per share | -0.39 | -0.09 | -1.52 | -0.23 | -0.60 | -0.22 | -1.27 | -0.48 |
| Cash from operations | — | — | — | −CN¥226.0m | −CN¥285.0m | −CN¥160.0m | — | −CN¥77.0m |
| Capital spending | — | −CN¥2.0m | −CN¥1.0m | — | — | — | — | — |
| Total assets | CN¥1.96bn | CN¥2.08bn | CN¥2.18bn | CN¥2.36bn | CN¥2.11bn | CN¥2.28bn | CN¥2.18bn | CN¥2.55bn |
| Cash and short-term investments | — | — | — | CN¥282.2m | CN¥357.0m | CN¥590.1m | CN¥349.9m | CN¥287.4m |
| Debt | CN¥500.2m | CN¥496.2m | CN¥246.2m | CN¥1.39bn | CN¥1.40bn | CN¥1.22bn | CN¥770.8m | CN¥673.8m |
| Shareholders' equity | −CN¥67.7m | CN¥31.1m | CN¥56.2m | CN¥164.4m | CN¥221.8m | CN¥371.4m | CN¥427.1m | CN¥743.2m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.4% | 11.4% | 10.0% | 10.3% | 11.0% | 13.0% |
| Operating margin | -44.9% | -25.7% | -13.0% | -6.7% | 2.6% | 3.4% |
| Net margin | -46.9% | -26.9% | -12.4% | -7.6% | 1.7% | 2.3% |
| Return on equity | -1162.8% | -128.0% | -71.6% | -41.4% | 9.9% | 11.8% |
| Return on assets | -30.0% | -25.1% | -22.1% | -10.3% | 2.5% | 3.0% |
| Free cash flow yield | -38.5% | -24.0% | 41.9% | 31.1% | 22.1% | -26.1% |
| Revenue growth | -31.5% | -63.1% | -35.3% | -35.6% | 44.5% | -13.0% |
| Earnings growth | 19.5% | -20.1% | 5.8% | -382.3% | 9.3% | 9.0% |
| Current ratio | 0.77x | 0.91x | 1.17x | 1.22x | 1.25x | 1.26x |
| Debt to equity | 4.38x | 1.80x | 0.51x | 0.85x | 0.70x | 0.68x |
| Equity ratio | 2.6% | 19.6% | 30.9% | 24.9% | 25.4% | 25.7% |
| Interest coverage | -8.63x | -7.65x | -12.86x | -5.48x | 3.85x | 4.33x |
| R&D as a share of sales | 2.3% | 3.6% | 3.3% | 3.1% | 2.4% | 2.4% |
| Buybacks as a share of market value | -0.1% | -2.8% | 3.1% | 0.7% | -18.5% | 1.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -45.3% | -31.4% | -12.3% |
| Net income | 0.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.0% | 9.9% | 11.0% | 11.3% |
| Net margin | -35.1% | -14.5% | -5.3% | -1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.5 | -7.0 | -4.4 | -5.6 | 32.7 | 19.2 | 22.1 | 25.3 | 36.4 |
| Price to sales | 1.7 | 1.9 | 0.5 | 0.4 | 0.6 | 0.4 | 0.4 | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Jul 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|
| Paid in the year | 0.28 | 0.28 | 0.25 | 0.25 | 0.179 |
- 7-for-5 split · 21 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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