D 
34.20
+8.33%
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¥363.8m
FY2016FY2025
Net income
−CN¥122.6m
FY2016FY2025
Free cash flow
−CN¥262.0m
FY2016FY2025
Shareholders' equity
CN¥1.44bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥363.8m | CN¥114.7m | CN¥127.8m | CN¥252.0m | CN¥556.4m | CN¥944.2m | CN¥919.1m | CN¥801.8m | CN¥678.0m | CN¥597.8m |
| Gross profit | CN¥55.6m | CN¥35.9m | −CN¥3.0m | CN¥56.3m | CN¥121.0m | CN¥221.4m | CN¥232.9m | CN¥221.3m | CN¥193.0m | CN¥153.4m |
| Research and development | CN¥19.7m | CN¥1.6m | CN¥5.1m | CN¥11.8m | CN¥22.5m | CN¥36.4m | CN¥36.4m | CN¥14.1m | CN¥10.4m | CN¥24.1m |
| Operating income | −CN¥134.4m | CN¥55.7m | −CN¥46.0m | CN¥33.6m | CN¥96.0m | CN¥131.0m | CN¥118.5m | CN¥112.2m | CN¥104.0m | CN¥91.3m |
| Net income | −CN¥122.6m | CN¥29.1m | −CN¥83.4m | CN¥10.7m | CN¥58.6m | CN¥102.1m | CN¥94.1m | CN¥90.1m | CN¥78.3m | CN¥69.7m |
| Diluted earnings per share | -0.90 | 0.21 | -0.61 | 0.08 | 0.43 | 0.75 | 0.83 | 0.80 | 0.69 | 0.82 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.69bn | CN¥2.54bn | CN¥2.95bn | CN¥3.36bn | CN¥3.68bn | CN¥3.61bn | CN¥3.35bn | CN¥2.92bn | CN¥2.16bn | CN¥1.57bn |
| Cash and short-term investments | — | CN¥283.2m | CN¥368.4m | CN¥492.5m | CN¥723.9m | CN¥672.1m | CN¥689.1m | CN¥471.9m | CN¥403.9m | CN¥225.6m |
| Total liabilities | CN¥952.2m | CN¥751.7m | CN¥1.21bn | CN¥1.54bn | CN¥1.88bn | CN¥1.89bn | CN¥1.94bn | CN¥1.64bn | CN¥1.02bn | CN¥855.7m |
| Debt | CN¥191.0m | CN¥379.3m | CN¥497.1m | CN¥920.1m | CN¥1.06bn | CN¥934.3m | CN¥1.03bn | CN¥954.0m | CN¥464.0m | CN¥420.0m |
| Shareholders' equity | CN¥1.44bn | CN¥1.56bn | CN¥1.53bn | CN¥1.62bn | CN¥1.61bn | CN¥1.55bn | CN¥1.22bn | CN¥1.13bn | CN¥1.04bn | CN¥687.1m |
| Shares outstanding | 136m | 136m | 136m | 135m | 136m | 136m | 113m | 113m | 113m | 85m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥178.1m | CN¥212.8m | CN¥98.2m | −CN¥48.9m | CN¥23.1m | CN¥31.1m | CN¥139.4m | −CN¥277.3m | −CN¥314.2m | CN¥72.4m |
| Capital spending | −CN¥83.9m | −CN¥1.3m | −CN¥2.3m | −CN¥6.6m | −CN¥12.0m | −CN¥5.8m | −CN¥6.2m | −CN¥8.7m | −CN¥5.8m | −CN¥3.7m |
| Free cash flow | −CN¥262.0m | CN¥211.5m | CN¥95.9m | −CN¥55.5m | CN¥11.0m | CN¥25.3m | CN¥133.2m | −CN¥286.1m | −CN¥320.1m | CN¥68.7m |
| Dividends paid | −CN¥22.5m | −CN¥29.9m | −CN¥43.9m | −CN¥56.6m | −CN¥53.1m | −CN¥67.9m | −CN¥54.4m | −CN¥43.7m | −CN¥23.6m | −CN¥73.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥96.3m | CN¥96.5m | CN¥210.6m | CN¥98.0m | CN¥33.0m | CN¥22.2m | CN¥41.4m | CN¥23.1m |
| Gross profit | CN¥12.3m | CN¥15.3m | CN¥23.1m | CN¥14.8m | CN¥7.2m | CN¥10.5m | CN¥18.8m | CN¥3.6m |
| Operating income | −CN¥51.3m | −CN¥45.9m | −CN¥60.7m | −CN¥24.7m | −CN¥14.4m | CN¥10.0m | CN¥19.3m | CN¥8.5m |
| Net income | −CN¥27.7m | −CN¥12.6m | −CN¥85.7m | −CN¥21.0m | −CN¥18.4m | CN¥2.5m | CN¥13.8m | CN¥2.5m |
| Diluted earnings per share | -0.20 | -0.09 | -0.63 | -0.15 | -0.14 | 0.02 | 0.10 | 0.02 |
| Cash from operations | — | — | — | −CN¥55.0m | −CN¥2.0m | −CN¥94.0m | CN¥133.0m | CN¥22.0m |
| Capital spending | −CN¥9.0m | −CN¥8.0m | −CN¥13.0m | −CN¥36.0m | −CN¥34.0m | — | — | — |
| Free cash flow | — | — | — | −CN¥91.0m | −CN¥36.0m | — | — | — |
| Total assets | CN¥2.59bn | CN¥2.63bn | CN¥2.69bn | CN¥2.66bn | CN¥2.56bn | CN¥2.46bn | CN¥2.54bn | CN¥2.64bn |
| Cash and short-term investments | — | — | — | CN¥125.4m | CN¥140.7m | CN¥160.4m | CN¥283.2m | CN¥230.0m |
| Debt | CN¥160.5m | CN¥191.0m | CN¥191.0m | CN¥203.2m | CN¥290.1m | CN¥381.5m | CN¥290.6m | CN¥496.5m |
| Shareholders' equity | CN¥1.40bn | CN¥1.43bn | CN¥1.44bn | CN¥1.53bn | CN¥1.54bn | CN¥1.57bn | CN¥1.56bn | CN¥1.55bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.3% | 31.3% | -2.3% | 22.3% | 21.8% | 23.5% |
| Operating margin | -31.3% | 74.0% | -4.7% | 27.8% | 24.5% | 19.3% |
| Net margin | -33.7% | 25.4% | -65.3% | 4.3% | 10.5% | 10.8% |
| Return on equity | -8.5% | 1.9% | -5.4% | 0.7% | 3.6% | 6.6% |
| Return on assets | -4.6% | 1.1% | -2.8% | 0.3% | 1.6% | 2.8% |
| Free cash flow yield | -2.8% | 6.3% | 2.9% | -1.2% | 1.0% | 1.1% |
| Revenue growth | 217.2% | -10.2% | -49.3% | -54.7% | -41.1% | 2.7% |
| Earnings growth | -520.9% | -134.9% | -875.9% | -81.7% | -42.6% | 8.4% |
| Current ratio | 2.07x | 2.72x | 1.81x | 1.80x | 1.69x | 1.76x |
| Debt to equity | 0.13x | 0.24x | 0.32x | 0.57x | 0.60x | 0.60x |
| Equity ratio | 53.6% | 61.6% | 52.0% | 48.2% | 43.8% | 42.9% |
| Interest coverage | -6.52x | 2.89x | -0.16x | 1.83x | 3.23x | 3.43x |
| R&D as a share of sales | 5.4% | 1.4% | 4.0% | 4.7% | 4.0% | 3.9% |
| Buybacks as a share of market value | -0.0% | -0.0% | -0.2% | 0.2% | -0.0% | -20.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.0% | -17.4% | -3.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.1% | 16.9% | 20.7% | 24.3% |
| Operating margin | -16.4% | -10.6% | 5.8% | 10.9% |
| Net margin | -19.5% | -19.4% | -0.2% | 6.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -32.1 | 84.3 | -23.9 | 233.2 | 30.6 | 19.3 | 19.2 | 17.4 | 48.0 |
| Price to sales | 10.8 | 21.4 | 15.6 | 9.9 | 3.2 | 2.1 | 2.0 | 2.0 | 5.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 6 Jun 2025.
| FY2025 | FY2020 | FY2018 | FY2017 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.50 | 0.077 | 0.154 |
- 13-for-10 split · 14 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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