G 
12.02
+5.16%
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¥443.2m
FY2016FY2025
Net income
−CN¥203.7m
FY2016FY2025
Free cash flow
−CN¥31.9m
FY2016FY2025
Shareholders' equity
CN¥247.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥443.2m | CN¥726.8m | CN¥665.4m | CN¥928.1m | CN¥597.1m | CN¥498.9m | CN¥583.3m | CN¥601.2m | CN¥459.0m | CN¥374.8m |
| Gross profit | CN¥19.6m | −CN¥54.0m | −CN¥88.2m | −CN¥196.8m | CN¥64.9m | CN¥106.0m | CN¥128.9m | CN¥141.0m | CN¥110.1m | CN¥83.5m |
| Research and development | CN¥9.2m | CN¥19.2m | CN¥18.9m | CN¥31.7m | CN¥20.5m | CN¥16.9m | CN¥18.6m | CN¥18.6m | CN¥14.1m | CN¥12.1m |
| Operating income | −CN¥86.0m | −CN¥206.6m | −CN¥211.7m | −CN¥274.3m | CN¥18.5m | CN¥83.0m | CN¥96.7m | CN¥122.1m | CN¥80.2m | CN¥62.5m |
| Net income | −CN¥203.7m | −CN¥235.6m | −CN¥236.9m | −CN¥277.2m | CN¥8.9m | CN¥76.6m | CN¥90.0m | CN¥94.9m | CN¥68.8m | CN¥53.3m |
| Diluted earnings per share | -1.00 | -1.16 | -1.15 | -1.32 | 0.03 | 0.35 | 0.43 | 0.60 | 0.44 | 0.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.01bn | CN¥1.30bn | CN¥1.49bn | CN¥1.58bn | CN¥1.85bn | CN¥1.61bn | CN¥1.31bn | CN¥854.1m | CN¥654.3m | CN¥617.3m |
| Cash and short-term investments | — | CN¥61.9m | CN¥36.7m | CN¥11.6m | CN¥275.8m | CN¥253.8m | CN¥588.2m | CN¥434.7m | CN¥254.3m | CN¥267.3m |
| Total liabilities | CN¥759.6m | CN¥833.9m | CN¥827.1m | CN¥686.5m | CN¥663.2m | CN¥437.3m | CN¥192.1m | CN¥281.8m | CN¥176.9m | CN¥395.5m |
| Debt | CN¥72.8m | CN¥357.7m | CN¥434.2m | CN¥484.4m | CN¥480.1m | CN¥334.2m | CN¥138.6m | CN¥197.2m | CN¥135.2m | CN¥166.6m |
| Shareholders' equity | CN¥247.3m | CN¥465.4m | CN¥659.6m | CN¥896.4m | CN¥1.18bn | CN¥1.17bn | CN¥1.12bn | CN¥572.4m | CN¥477.5m | CN¥221.9m |
| Shares outstanding | 204m | 204m | 206m | 210m | 278m | 218m | 207m | 157m | 155m | 120m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥24.3m | CN¥8.6m | −CN¥28.6m | −CN¥122.6m | CN¥24.4m | CN¥64.3m | CN¥109.4m | CN¥139.9m | CN¥131.6m | CN¥52.9m |
| Capital spending | −CN¥7.6m | −CN¥25.9m | −CN¥36.6m | −CN¥66.2m | −CN¥377.5m | −CN¥412.9m | −CN¥133.4m | −CN¥14.8m | −CN¥112.9m | −CN¥27.9m |
| Free cash flow | −CN¥31.9m | −CN¥17.3m | −CN¥65.2m | −CN¥188.8m | −CN¥353.2m | −CN¥348.6m | −CN¥24.0m | CN¥125.1m | CN¥18.7m | CN¥25.0m |
| Dividends paid | −CN¥23.5m | −CN¥26.5m | −CN¥21.0m | −CN¥22.5m | −CN¥20.8m | −CN¥20.6m | −CN¥10.1m | −CN¥12.0m | −CN¥9.4m | −CN¥13.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥159.3m | CN¥121.0m | CN¥129.2m | CN¥91.4m | CN¥120.2m | CN¥102.5m | CN¥201.7m | CN¥170.5m |
| Gross profit | CN¥4.0m | −CN¥4.5m | −CN¥9.4m | −CN¥22.1m | −CN¥9.1m | −CN¥3.2m | −CN¥20.4m | −CN¥18.1m |
| Operating income | −CN¥5.1m | −CN¥7.9m | −CN¥22.5m | −CN¥41.1m | −CN¥28.1m | −CN¥11.8m | −CN¥121.0m | −CN¥49.2m |
| Net income | −CN¥24.1m | −CN¥5.1m | −CN¥116.9m | −CN¥41.0m | −CN¥27.7m | −CN¥18.0m | −CN¥131.0m | −CN¥44.6m |
| Diluted earnings per share | -0.12 | -0.02 | -0.57 | -0.20 | -0.14 | -0.09 | -0.64 | -0.22 |
| Cash from operations | — | — | — | −CN¥6.0m | CN¥18.0m | −CN¥40.0m | — | CN¥6.0m |
| Capital spending | −CN¥2.0m | −CN¥2.0m | −CN¥1.0m | −CN¥2.0m | −CN¥2.0m | −CN¥1.0m | −CN¥10.0m | −CN¥2.0m |
| Free cash flow | — | — | — | −CN¥8.0m | CN¥16.0m | −CN¥41.0m | — | CN¥4.0m |
| Total assets | CN¥886.9m | CN¥916.6m | CN¥1.01bn | CN¥1.14bn | CN¥1.21bn | CN¥1.29bn | CN¥1.30bn | CN¥1.41bn |
| Cash and short-term investments | — | — | — | CN¥22.8m | CN¥13.1m | CN¥47.2m | CN¥61.9m | CN¥47.2m |
| Debt | CN¥72.8m | CN¥72.8m | CN¥72.8m | CN¥289.4m | CN¥353.3m | CN¥353.7m | CN¥351.3m | CN¥449.0m |
| Shareholders' equity | CN¥218.0m | CN¥242.2m | CN¥247.3m | CN¥364.1m | CN¥405.2m | CN¥449.9m | CN¥465.4m | CN¥595.7m |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -9.9% | -7.4% | -13.3% | -21.2% | 10.9% | 21.2% |
| Operating margin | -40.1% | -28.4% | -31.8% | -27.3% | 3.1% | 17.8% |
| Net margin | -46.0% | -32.4% | -35.6% | -29.9% | 1.5% | 15.4% |
| Return on equity | -82.4% | -50.6% | -35.9% | -30.9% | 0.8% | 6.5% |
| Return on assets | -20.2% | -18.1% | -15.9% | -17.5% | 0.5% | 4.8% |
| Free cash flow yield | -0.6% | 1.3% | 0.3% | -2.1% | 11.3% | 17.1% |
| Revenue growth | -39.0% | 9.2% | -28.3% | 55.4% | 19.7% | -14.5% |
| Earnings growth | -13.6% | -0.6% | -14.5% | -3224.1% | -88.4% | -14.9% |
| Current ratio | 0.13x | 0.25x | 0.37x | 0.38x | 1.53x | 3.08x |
| Debt to equity | 0.29x | 0.75x | 0.65x | 0.47x | 0.39x | 0.28x |
| Equity ratio | 24.5% | 35.7% | 44.3% | 56.6% | 64.0% | 72.8% |
| Interest coverage | -6.77x | -7.34x | -8.87x | -12.62x | 1.52x | 10.02x |
| R&D as a share of sales | 2.1% | 2.6% | 2.8% | 3.4% | 3.4% | 3.4% |
| Buybacks as a share of market value | -0.1% | 1.1% | 1.9% | 24.5% | -27.4% | -5.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.8% | -2.3% | 3.1% |
| Operating income | -32.1% | — | — |
| Net income | -9.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -2.9% | -11.6% | -3.9% | 6.2% |
| Operating margin | -25.0% | -28.2% | -17.5% | -4.6% |
| Net margin | -37.5% | -34.5% | -22.5% | -8.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -20.0 | -17.4 | -29.4 | -9.7 | 286.3 | 28.6 | 37.5 |
| Price to sales | 9.2 | 5.6 | 10.5 | 2.9 | 4.3 | 4.4 | 5.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 30 Oct 2020.
| FY2020 | |
|---|---|
| Paid in the year | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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