H 
5.46
+1.87%
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¥900.8m
FY2016FY2025
Net income
−CN¥287.4m
FY2016FY2025
Free cash flow
CN¥53.2m
FY2016FY2025
Shareholders' equity
CN¥412.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥900.8m | CN¥1.41bn | CN¥1.80bn | CN¥1.52bn | CN¥1.35bn | CN¥1.16bn | CN¥1.31bn | CN¥983.8m | CN¥655.0m | CN¥487.4m |
| Research and development | CN¥93.9m | CN¥202.1m | CN¥113.7m | CN¥105.7m | CN¥100.4m | CN¥51.7m | CN¥51.7m | CN¥43.3m | CN¥19.6m | CN¥11.2m |
| Operating income | −CN¥227.8m | −CN¥239.2m | CN¥28.5m | CN¥113.6m | CN¥77.1m | CN¥142.3m | CN¥154.8m | CN¥125.1m | CN¥47.8m | CN¥47.9m |
| Net income | −CN¥287.4m | −CN¥274.5m | CN¥10.9m | CN¥85.7m | CN¥72.1m | CN¥121.5m | CN¥120.3m | CN¥100.5m | CN¥22.1m | CN¥33.8m |
| Diluted earnings per share | -0.72 | -0.70 | 0.05 | 0.20 | 0.19 | 0.31 | 0.33 | 0.25 | 0.06 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.60bn | CN¥2.96bn | CN¥3.06bn | CN¥2.31bn | CN¥1.76bn | CN¥1.52bn | CN¥1.09bn | CN¥1.09bn | CN¥807.2m | CN¥535.9m |
| Cash and short-term investments | — | CN¥254.3m | CN¥522.7m | CN¥480.4m | CN¥487.7m | CN¥345.9m | CN¥154.1m | CN¥181.5m | CN¥82.6m | CN¥62.2m |
| Total liabilities | CN¥2.14bn | CN¥2.22bn | CN¥1.90bn | CN¥1.30bn | CN¥830.4m | CN¥604.7m | CN¥442.7m | CN¥487.4m | CN¥455.8m | CN¥407.3m |
| Debt | CN¥545.4m | CN¥1.00bn | CN¥1.16bn | CN¥684.0m | CN¥499.2m | CN¥283.0m | CN¥152.6m | CN¥142.1m | CN¥146.3m | CN¥228.3m |
| Shareholders' equity | CN¥412.7m | CN¥700.6m | CN¥1.12bn | CN¥1.01bn | CN¥928.2m | CN¥916.5m | CN¥643.9m | CN¥604.6m | CN¥351.4m | CN¥128.7m |
| Shares outstanding | 400m | 393m | 223m | 434m | 382m | 393m | 366m | 400m | 400m | 400m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥136.9m | −CN¥149.1m | CN¥28.3m | CN¥238.7m | CN¥102.5m | CN¥3.3m | CN¥144.5m | CN¥31.8m | CN¥90.0m | CN¥65.0m |
| Capital spending | −CN¥83.7m | −CN¥156.2m | −CN¥489.2m | −CN¥392.3m | −CN¥137.6m | −CN¥59.4m | −CN¥58.4m | −CN¥72.8m | −CN¥157.6m | −CN¥41.0m |
| Free cash flow | CN¥53.2m | −CN¥305.3m | −CN¥460.9m | −CN¥153.6m | −CN¥35.1m | −CN¥56.1m | CN¥86.1m | −CN¥41.0m | −CN¥67.6m | CN¥24.0m |
| Dividends paid | −CN¥33.6m | −CN¥92.2m | −CN¥31.6m | −CN¥14.4m | −CN¥60.0m | −CN¥8.0m | −CN¥81.0m | −CN¥80.6m | −CN¥13.5m | −CN¥15.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥94.7m | CN¥146.1m | CN¥218.1m | CN¥175.0m | CN¥170.8m | CN¥336.8m | CN¥219.8m | CN¥143.6m |
| Operating income | −CN¥50.6m | −CN¥10.9m | −CN¥207.0m | −CN¥11.4m | −CN¥4.9m | CN¥23.8m | −CN¥354.6m | −CN¥152.9m |
| Net income | −CN¥84.4m | −CN¥29.0m | −CN¥276.2m | −CN¥13.6m | −CN¥21.9m | CN¥24.3m | −CN¥358.3m | −CN¥158.6m |
| Diluted earnings per share | -0.21 | -0.07 | -0.69 | -0.03 | -0.05 | 0.06 | -0.91 | -0.40 |
| Cash from operations | — | — | — | CN¥44.0m | CN¥112.0m | −CN¥98.0m | — | −CN¥53.0m |
| Capital spending | −CN¥3.0m | −CN¥5.0m | −CN¥10.0m | −CN¥9.0m | −CN¥27.0m | −CN¥36.0m | −CN¥11.0m | −CN¥18.0m |
| Free cash flow | — | — | — | CN¥35.0m | CN¥85.0m | −CN¥134.0m | — | −CN¥71.0m |
| Total assets | CN¥2.42bn | CN¥2.56bn | CN¥2.60bn | CN¥2.80bn | CN¥2.91bn | CN¥3.01bn | CN¥2.96bn | CN¥3.11bn |
| Cash and short-term investments | — | — | — | CN¥110.7m | CN¥168.7m | CN¥162.1m | CN¥254.3m | CN¥143.6m |
| Debt | CN¥505.1m | CN¥615.0m | CN¥545.4m | CN¥677.6m | CN¥986.2m | CN¥883.0m | CN¥1.00bn | CN¥1.04bn |
| Shareholders' equity | CN¥299.1m | CN¥383.7m | CN¥412.7m | CN¥689.3m | CN¥702.9m | CN¥724.9m | CN¥700.6m | CN¥1.15bn |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -25.3% | -16.8% | 2.5% | 7.7% | 7.4% | 12.4% |
| Net margin | -31.9% | -19.4% | 0.6% | 5.7% | 5.3% | 10.5% |
| Return on equity | -69.6% | -39.2% | 1.0% | 8.5% | 7.8% | 13.3% |
| Return on assets | -11.0% | -9.3% | 0.4% | 3.7% | 4.1% | 8.0% |
| Free cash flow yield | 10.0% | 0.3% | 42.2% | 26.5% | 11.5% | 2.9% |
| Revenue growth | -36.3% | -21.3% | 18.5% | 11.9% | 16.5% | -11.0% |
| Earnings growth | 4.7% | -2629.2% | -87.3% | 18.8% | -40.6% | 1.0% |
| Current ratio | 0.61x | 0.85x | 1.36x | 1.18x | 1.37x | 1.76x |
| Debt to equity | 1.32x | 1.43x | 1.03x | 0.67x | 0.47x | 0.32x |
| Equity ratio | 15.9% | 23.6% | 36.6% | 43.9% | 52.7% | 60.2% |
| Interest coverage | -5.59x | -7.43x | 2.46x | 6.12x | 5.51x | 12.74x |
| R&D as a share of sales | 10.4% | 14.3% | 6.3% | 7.0% | 7.4% | 4.4% |
| Buybacks as a share of market value | -1.9% | -76.0% | 48.6% | -13.7% | 2.8% | -7.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.9% | -5.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -10.6 | -22.8 | 311.7 | 81.1 | 131.8 | 78.0 |
| Price to sales | 3.5 | 4.5 | 1.9 | 4.7 | 7.1 | 8.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jul 2024.
| FY2024 | FY2021 | |
|---|---|---|
| Paid in the year | 0.125 | 0.15 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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