13.03
+2.12%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥356.4m
FY2016FY2025
Net income
−CN¥81.2m
FY2016FY2025
Free cash flow
−CN¥116.3m
FY2016FY2025
Shareholders' equity
CN¥890.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥356.4m | CN¥285.2m | CN¥185.8m | CN¥237.1m | CN¥378.0m | CN¥292.6m | CN¥405.0m | CN¥447.0m | CN¥421.3m | CN¥420.5m |
| Gross profit | −CN¥12.8m | CN¥13.3m | −CN¥2.9m | CN¥3.5m | CN¥69.1m | CN¥62.5m | CN¥121.0m | CN¥119.7m | CN¥120.6m | CN¥125.7m |
| Research and development | CN¥9.6m | CN¥11.3m | CN¥9.8m | CN¥13.0m | CN¥17.2m | CN¥9.9m | CN¥27.8m | CN¥23.8m | CN¥16.8m | CN¥22.3m |
| Operating income | −CN¥80.6m | −CN¥22.6m | −CN¥35.3m | −CN¥23.4m | CN¥33.9m | CN¥5.8m | CN¥53.5m | CN¥61.6m | CN¥51.4m | CN¥60.6m |
| Net income | −CN¥81.2m | −CN¥23.5m | −CN¥37.4m | −CN¥26.1m | CN¥32.2m | −CN¥4.9m | CN¥43.6m | CN¥42.8m | CN¥41.8m | CN¥59.8m |
| Diluted earnings per share | -0.25 | -0.07 | -0.12 | -0.08 | 0.10 | -0.02 | 0.16 | 0.16 | 0.19 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.06bn | CN¥1.05bn | CN¥1.06bn | CN¥1.11bn | CN¥1.16bn | CN¥1.41bn | CN¥908.8m | CN¥836.4m | CN¥789.6m | CN¥782.2m |
| Cash and short-term investments | — | CN¥411.7m | CN¥495.1m | CN¥506.8m | CN¥511.9m | CN¥432.5m | CN¥163.1m | CN¥108.0m | CN¥165.0m | CN¥252.4m |
| Total liabilities | CN¥137.5m | CN¥74.8m | CN¥61.9m | CN¥68.7m | CN¥79.6m | CN¥355.7m | CN¥159.8m | CN¥114.6m | CN¥97.2m | CN¥116.0m |
| Debt | — | CN¥12.1m | — | — | — | CN¥45.0m | CN¥45.0m | — | — | CN¥10.0m |
| Shareholders' equity | CN¥890.6m | CN¥971.8m | CN¥995.3m | CN¥1.05bn | CN¥1.08bn | CN¥1.06bn | CN¥749.0m | CN¥718.7m | CN¥689.2m | CN¥666.2m |
| Shares outstanding | 320m | 319m | 319m | 321m | 320m | 321m | 266m | 270m | 223m | 290m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥107.8m | −CN¥93.3m | −CN¥9.4m | CN¥12.0m | CN¥70.0m | CN¥57.0m | CN¥48.5m | CN¥96.3m | CN¥54.9m | CN¥86.5m |
| Capital spending | −CN¥8.5m | −CN¥6.4m | −CN¥5.1m | −CN¥22.3m | −CN¥51.8m | −CN¥311.3m | −CN¥54.6m | −CN¥140.9m | −CN¥102.9m | −CN¥85.1m |
| Free cash flow | −CN¥116.3m | −CN¥99.7m | −CN¥14.5m | −CN¥10.3m | CN¥18.3m | −CN¥254.4m | −CN¥6.2m | −CN¥44.6m | −CN¥48.0m | CN¥1.3m |
| Dividends paid | — | — | −CN¥12.8m | −CN¥12.8m | −CN¥10.6m | −CN¥18.9m | −CN¥13.3m | −CN¥13.3m | −CN¥19.2m | −CN¥16.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥107.8m | CN¥96.6m | CN¥90.6m | CN¥92.1m | CN¥106.0m | CN¥67.7m | CN¥84.2m | CN¥102.2m |
| Gross profit | CN¥11.0m | CN¥8.5m | −CN¥9.0m | −CN¥4.1m | −CN¥310,085 | CN¥571,128 | −CN¥9.9m | CN¥16.5m |
| Operating income | −CN¥11.1m | −CN¥8.7m | −CN¥22.7m | −CN¥23.3m | −CN¥7.8m | −CN¥8.1m | −CN¥16.9m | CN¥1.5m |
| Net income | −CN¥13.8m | −CN¥11.9m | −CN¥45.2m | −CN¥19.7m | −CN¥7.5m | −CN¥8.7m | −CN¥15.3m | CN¥944,044 |
| Diluted earnings per share | -0.04 | -0.04 | -0.14 | -0.06 | -0.02 | -0.03 | -0.05 | 0.00 |
| Cash from operations | — | — | — | −CN¥22.0m | −CN¥20.0m | −CN¥42.0m | −CN¥66.0m | −CN¥28.0m |
| Capital spending | −CN¥3.0m | −CN¥4.0m | −CN¥2.0m | −CN¥2.0m | −CN¥2.0m | −CN¥1.0m | −CN¥1.0m | −CN¥2.0m |
| Free cash flow | — | — | — | −CN¥24.0m | −CN¥22.0m | −CN¥43.0m | −CN¥67.0m | −CN¥30.0m |
| Total assets | CN¥1.09bn | CN¥1.07bn | CN¥1.06bn | CN¥1.01bn | CN¥1.03bn | CN¥1.04bn | CN¥1.05bn | CN¥1.04bn |
| Cash and short-term investments | — | — | — | CN¥324.5m | CN¥346.7m | CN¥369.4m | CN¥411.7m | CN¥478.1m |
| Debt | — | — | — | CN¥8.7m | — | CN¥4.3m | CN¥4.3m | — |
| Shareholders' equity | CN¥864.8m | CN¥878.7m | CN¥890.6m | CN¥935.9m | CN¥955.6m | CN¥963.1m | CN¥971.8m | CN¥987.1m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2016 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | -3.6% | 4.7% | -1.6% | 1.5% | 18.3% | 21.4% | — | — | — | — |
| Operating margin | -22.5% | -8.3% | -19.5% | -10.2% | 10.0% | 2.0% | — | — | — | — |
| Net margin | -22.8% | -8.2% | -20.1% | -11.0% | 8.5% | -1.7% | — | — | — | — |
| Return on equity | -9.1% | -2.4% | -3.8% | -2.5% | 3.0% | -0.5% | — | — | — | — |
| Return on assets | -7.6% | -2.2% | -3.5% | -2.3% | 2.8% | -0.3% | — | — | — | — |
| Free cash flow yield | -2.2% | -1.9% | -0.1% | 0.7% | 2.6% | 8.0% | — | — | — | — |
| Revenue growth | 25.0% | 53.5% | -21.6% | -37.3% | 29.2% | -27.8% | — | — | — | — |
| Earnings growth | 245.9% | -37.2% | 43.4% | -180.8% | -761.4% | -111.2% | — | — | — | — |
| Current ratio | 8.18x | 19.62x | 28.34x | 29.42x | 23.21x | 2.62x | — | — | — | — |
| Debt to equity | — | 0.00x | — | — | — | 0.24x | 0.06x | 0.02x | 0.03x | 0.12x |
| Equity ratio | 83.9% | 92.8% | 94.1% | 93.8% | 93.2% | 74.8% | — | — | — | — |
| Interest coverage | -147.33x | -80.16x | -186.86x | -79.74x | 8.11x | 0.61x | — | — | — | — |
| R&D as a share of sales | 2.7% | 4.0% | 5.3% | 5.5% | 4.6% | 3.4% | — | — | — | — |
| Buybacks as a share of market value | -0.2% | 0.1% | 0.7% | -0.3% | 0.2% | -20.4% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.5% | 4.0% | -2.6% |
| Operating income | 51.0% | — | — |
| Net income | 46.0% | 75.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 0.1% | 0.1% | 7.6% | 19.1% |
| Operating margin | -16.1% | -15.2% | -7.0% | 4.1% |
| Net margin | -16.3% | -15.8% | -8.1% | 2.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -29.5 | -76.0 | -61.5 | -71.7 | 77.6 | -459.5 | 51.2 | 59.5 | 65.9 | 39.4 |
| Price to sales | 6.7 | 6.3 | 12.4 | 7.9 | 6.6 | 7.7 | 5.5 | 5.7 | 6.5 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 May 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.02 | 0.05 | 0.05 | 0.05 | 0.07 | 0.065 |
- 2-for-1 split · 24 Jun 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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