A 
5.62
-1.58%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.35bn
FY2016FY2025
Net income
−CN¥188.6m
FY2016FY2025
Free cash flow
−CN¥152.2m
FY2016FY2025
Shareholders' equity
CN¥1.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.35bn | CN¥2.03bn | CN¥2.17bn | CN¥2.26bn | CN¥3.08bn | CN¥3.59bn | CN¥2.44bn | CN¥1.65bn | CN¥1.42bn | CN¥1.21bn |
| Gross profit | CN¥1.08bn | CN¥880.7m | CN¥994.6m | CN¥963.0m | CN¥1.37bn | CN¥1.48bn | CN¥1.23bn | CN¥985.8m | CN¥905.4m | CN¥791.3m |
| Research and development | CN¥41.4m | CN¥43.8m | CN¥56.8m | CN¥70.3m | CN¥70.8m | CN¥70.9m | CN¥80.5m | CN¥74.6m | CN¥69.7m | CN¥56.2m |
| Operating income | CN¥76.1m | −CN¥98.7m | CN¥33.7m | −CN¥393.0m | CN¥94.5m | CN¥341.9m | CN¥381.5m | CN¥320.3m | CN¥316.0m | CN¥267.1m |
| Net income | −CN¥188.6m | −CN¥124.0m | CN¥46.8m | −CN¥354.9m | CN¥69.7m | CN¥197.5m | CN¥302.7m | CN¥281.2m | CN¥273.1m | CN¥236.0m |
| Diluted earnings per share | -0.52 | -0.33 | 0.11 | -0.89 | 0.19 | 0.48 | 0.75 | 0.68 | 0.68 | 0.77 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.54bn | CN¥2.66bn | CN¥2.73bn | CN¥3.06bn | CN¥3.92bn | CN¥4.73bn | CN¥3.95bn | CN¥3.69bn | CN¥3.15bn | CN¥1.79bn |
| Cash and short-term investments | — | CN¥564.7m | CN¥511.2m | CN¥626.7m | CN¥712.2m | CN¥1.17bn | CN¥655.9m | CN¥454.4m | CN¥347.1m | CN¥109.6m |
| Total liabilities | CN¥879.3m | CN¥771.0m | CN¥665.4m | CN¥754.5m | CN¥1.01bn | CN¥1.70bn | CN¥1.05bn | CN¥900.6m | CN¥580.0m | CN¥502.4m |
| Debt | — | CN¥199.3m | CN¥69.4m | CN¥62.1m | CN¥172.3m | CN¥805.3m | CN¥349.6m | CN¥19.0m | CN¥51.3m | CN¥66.0m |
| Shareholders' equity | CN¥1.65bn | CN¥1.86bn | CN¥2.04bn | CN¥2.08bn | CN¥2.64bn | CN¥2.74bn | CN¥2.81bn | CN¥2.74bn | CN¥2.57bn | CN¥1.28bn |
| Shares outstanding | 360m | 377m | 422m | 400m | 360m | 409m | 402m | 412m | 402m | 308m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥116.7m | −CN¥42.3m | CN¥192.7m | CN¥258.5m | CN¥540.2m | CN¥368.8m | CN¥11.0m | CN¥95.1m | CN¥317.4m | CN¥339.5m |
| Capital spending | −CN¥35.6m | −CN¥35.1m | −CN¥68.9m | −CN¥41.9m | −CN¥42.2m | −CN¥74.3m | −CN¥63.3m | −CN¥79.0m | −CN¥63.0m | −CN¥67.3m |
| Free cash flow | −CN¥152.2m | −CN¥77.4m | CN¥123.8m | CN¥216.6m | CN¥497.9m | CN¥294.6m | −CN¥52.3m | CN¥16.1m | CN¥254.4m | CN¥272.2m |
| Dividends paid | −CN¥39.7m | −CN¥44.8m | −CN¥195.6m | −CN¥192.8m | −CN¥136.7m | −CN¥277.8m | −CN¥136.1m | −CN¥146.1m | −CN¥131.9m | −CN¥83.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥569.7m | CN¥639.9m | CN¥702.6m | CN¥496.8m | CN¥571.3m | CN¥574.7m | CN¥563.9m | CN¥450.8m |
| Gross profit | CN¥280.5m | CN¥299.2m | CN¥301.9m | CN¥269.8m | CN¥224.0m | CN¥282.5m | CN¥187.9m | CN¥251.3m |
| Operating income | CN¥38.5m | CN¥49.3m | CN¥17.2m | −CN¥43.6m | CN¥2.5m | CN¥24.2m | −CN¥67.9m | −CN¥21.2m |
| Net income | CN¥44.5m | CN¥30.4m | −CN¥177.6m | −CN¥33.0m | −CN¥966,060 | CN¥23.0m | −CN¥92.7m | −CN¥19.1m |
| Diluted earnings per share | 0.12 | 0.08 | -0.49 | -0.09 | -0.00 | 0.06 | -0.25 | -0.05 |
| Cash from operations | — | — | — | −CN¥57.0m | −CN¥100.0m | −CN¥7.0m | — | −CN¥54.0m |
| Capital spending | −CN¥5.0m | −CN¥3.0m | −CN¥8.0m | −CN¥12.0m | −CN¥10.0m | −CN¥5.0m | −CN¥10.0m | −CN¥10.0m |
| Free cash flow | — | — | — | −CN¥69.0m | −CN¥110.0m | −CN¥12.0m | — | −CN¥64.0m |
| Total assets | CN¥2.33bn | CN¥2.38bn | CN¥2.54bn | CN¥2.72bn | CN¥2.65bn | CN¥2.54bn | CN¥2.66bn | CN¥2.72bn |
| Cash and short-term investments | — | — | — | CN¥332.5m | CN¥391.7m | CN¥423.4m | CN¥564.7m | CN¥498.6m |
| Debt | — | — | — | CN¥247.4m | CN¥176.5m | CN¥95.5m | CN¥187.8m | CN¥179.3m |
| Shareholders' equity | CN¥1.73bn | CN¥1.68bn | CN¥1.65bn | CN¥1.81bn | CN¥1.85bn | CN¥1.89bn | CN¥1.86bn | CN¥1.95bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 46.0% | 43.3% | 45.8% | 42.6% | 44.4% | 41.2% | — | — |
| Operating margin | -8.1% | -4.6% | 1.8% | -17.1% | 3.5% | 10.0% | — | — |
| Net margin | -8.0% | -6.1% | 2.2% | -15.7% | 2.3% | 5.5% | — | — |
| Return on equity | -11.4% | -6.7% | 2.3% | -17.1% | 2.6% | 7.2% | — | — |
| Return on assets | -7.4% | -4.7% | 1.7% | -11.6% | 1.8% | 4.2% | — | — |
| Free cash flow yield | -3.7% | -0.3% | 10.2% | 12.4% | 26.7% | 17.9% | — | — |
| Revenue growth | 15.3% | -6.2% | -4.1% | -26.5% | -14.4% | 47.4% | — | — |
| Earnings growth | 52.2% | -365.0% | -113.2% | -608.9% | -64.7% | -34.8% | — | — |
| Current ratio | 1.97x | 2.25x | 2.57x | 2.83x | 2.46x | 1.83x | — | — |
| Debt to equity | — | 0.10x | 0.02x | — | 0.04x | 0.28x | 0.11x | 0.07x |
| Equity ratio | 65.0% | 69.9% | 74.9% | 67.8% | 67.4% | 58.0% | — | — |
| Interest coverage | -45.18x | -17.83x | 9.47x | -61.83x | 5.89x | 11.38x | — | — |
| R&D as a share of sales | 1.8% | 2.2% | 2.6% | 3.1% | 2.3% | 2.0% | — | — |
| Buybacks as a share of market value | 4.5% | 10.6% | -5.5% | -11.2% | 11.9% | -1.6% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.2% | -8.2% | 6.7% |
| Operating income | — | -26.0% | -11.2% |
| Net income | -19.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 44.7% | 44.4% | 43.7% | 48.8% |
| Operating margin | -0.5% | -4.3% | 0.4% | 6.8% |
| Net margin | -7.1% | -7.0% | -2.3% | 4.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.6 | -16.8 | 74.9 | -7.9 | 45.0 | 20.4 | 17.4 | 15.7 | 25.8 |
| Price to sales | 1.3 | 1.0 | 1.6 | 1.2 | 1.0 | 1.1 | 2.2 | 2.7 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 2 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.115 | 0.50 | 0.50 | 0.35 | 0.70 | 0.35 | 0.357 |
- 7-for-5 split · 18 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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