H 
20.22
+1.00%
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¥483.3m
FY2016FY2025
Net income
−CN¥169.8m
FY2016FY2025
Free cash flow
−CN¥41.9m
FY2016FY2025
Shareholders' equity
CN¥857.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥483.3m | CN¥722.1m | CN¥628.4m | CN¥514.4m | CN¥1.22bn | CN¥1.42bn | CN¥1.49bn | CN¥1.45bn | CN¥1.27bn | CN¥981.9m |
| Gross profit | CN¥20.4m | CN¥83.2m | CN¥80.8m | CN¥92.3m | CN¥282.9m | CN¥298.9m | CN¥289.2m | CN¥292.1m | CN¥252.8m | CN¥194.7m |
| Research and development | CN¥5.6m | CN¥10.5m | CN¥22.3m | CN¥28.4m | CN¥33.7m | CN¥44.0m | CN¥48.6m | CN¥46.8m | CN¥42.8m | CN¥30.3m |
| Operating income | −CN¥87.3m | −CN¥172.8m | −CN¥179.5m | −CN¥309.3m | CN¥69.9m | CN¥146.9m | CN¥168.3m | CN¥128.2m | CN¥117.6m | CN¥73.7m |
| Net income | −CN¥169.8m | −CN¥190.2m | −CN¥157.1m | −CN¥261.7m | CN¥61.7m | CN¥109.7m | CN¥141.6m | CN¥114.5m | CN¥100.2m | CN¥65.8m |
| Diluted earnings per share | -1.04 | -1.15 | -0.96 | -1.64 | 0.36 | 0.93 | 1.17 | 0.70 | 0.61 | 0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.08bn | CN¥2.34bn | CN¥2.66bn | CN¥2.84bn | CN¥3.36bn | CN¥2.93bn | CN¥2.94bn | CN¥2.40bn | CN¥1.86bn | CN¥1.45bn |
| Cash and short-term investments | — | CN¥352.3m | CN¥359.0m | CN¥359.4m | CN¥500.5m | CN¥374.9m | CN¥272.6m | CN¥400.1m | CN¥305.0m | CN¥71.1m |
| Total liabilities | CN¥1.22bn | CN¥1.31bn | CN¥1.42bn | CN¥1.45bn | CN¥1.68bn | CN¥1.89bn | CN¥1.98bn | CN¥1.58bn | CN¥1.14bn | CN¥867.3m |
| Debt | — | CN¥194.8m | CN¥237.6m | CN¥219.2m | CN¥199.2m | CN¥322.0m | CN¥381.9m | CN¥367.0m | CN¥247.0m | CN¥135.6m |
| Shareholders' equity | CN¥857.9m | CN¥1.03bn | CN¥1.22bn | CN¥1.38bn | CN¥1.68bn | CN¥1.05bn | CN¥935.2m | CN¥793.6m | CN¥685.2m | CN¥585.0m |
| Shares outstanding | 163m | 165m | 163m | 160m | 170m | 118m | 121m | 163m | 163m | 163m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥27.1m | CN¥85.4m | −CN¥105.1m | −CN¥123.3m | −CN¥232.0m | CN¥17.7m | −CN¥140.8m | CN¥20.3m | CN¥86.7m | −CN¥111.3m |
| Capital spending | −CN¥14.8m | −CN¥7.2m | −CN¥6.2m | −CN¥7.9m | −CN¥3.1m | −CN¥824,843 | −CN¥2.8m | −CN¥8.9m | −CN¥9.0m | −CN¥2.5m |
| Free cash flow | −CN¥41.9m | CN¥78.1m | −CN¥111.3m | −CN¥131.2m | −CN¥235.1m | CN¥16.9m | −CN¥143.7m | CN¥11.4m | CN¥77.7m | −CN¥113.8m |
| Dividends paid | −CN¥4.5m | −CN¥7.5m | −CN¥9.9m | −CN¥32.2m | −CN¥16.1m | −CN¥20.7m | −CN¥19.4m | −CN¥27.7m | −CN¥12.8m | −CN¥5.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥113.6m | CN¥147.3m | CN¥157.9m | CN¥37.3m | CN¥120.9m | CN¥167.2m | CN¥233.5m | CN¥166.4m |
| Gross profit | CN¥3.3m | CN¥13.2m | CN¥16.8m | −CN¥8.6m | −CN¥2.7m | CN¥14.9m | CN¥23.1m | CN¥17.6m |
| Operating income | −CN¥19.3m | −CN¥8.3m | −CN¥17.8m | −CN¥35.0m | −CN¥49.0m | −CN¥15.9m | −CN¥102.1m | −CN¥4.2m |
| Net income | −CN¥59.5m | −CN¥11.6m | −CN¥61.1m | −CN¥34.3m | −CN¥58.7m | −CN¥15.7m | −CN¥124.7m | −CN¥5.1m |
| Diluted earnings per share | -0.36 | -0.07 | -0.37 | -0.21 | -0.36 | -0.10 | -0.75 | -0.03 |
| Cash from operations | — | — | — | CN¥77.0m | CN¥14.0m | −CN¥104.0m | — | CN¥116.0m |
| Capital spending | −CN¥7.0m | — | −CN¥1.0m | −CN¥4.0m | −CN¥6.0m | −CN¥1.0m | — | −CN¥1.0m |
| Free cash flow | — | — | — | CN¥73.0m | CN¥8.0m | −CN¥105.0m | — | CN¥115.0m |
| Total assets | CN¥2.06bn | CN¥2.06bn | CN¥2.08bn | CN¥1.99bn | CN¥2.08bn | CN¥2.19bn | CN¥2.34bn | CN¥2.40bn |
| Cash and short-term investments | — | — | — | CN¥253.2m | CN¥179.7m | CN¥213.1m | CN¥352.3m | CN¥317.0m |
| Debt | — | — | — | CN¥121.0m | CN¥99.5m | CN¥209.2m | CN¥143.5m | CN¥157.8m |
| Shareholders' equity | CN¥786.8m | CN¥846.2m | CN¥857.9m | CN¥919.0m | CN¥953.3m | CN¥1.01bn | CN¥1.03bn | CN¥1.15bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 4.2% | 11.5% | 12.9% | 17.9% | 23.1% | 21.0% | — |
| Operating margin | -29.2% | -22.5% | -27.0% | -57.7% | 6.8% | 10.3% | — |
| Net margin | -35.1% | -26.3% | -25.0% | -50.9% | 5.0% | 7.7% | — |
| Return on equity | -19.8% | -18.5% | -12.8% | -18.9% | 3.7% | 10.5% | — |
| Return on assets | -8.1% | -8.1% | -5.9% | -9.2% | 1.8% | 3.7% | — |
| Free cash flow yield | -0.3% | 2.6% | -2.8% | -3.3% | -6.2% | 0.7% | — |
| Revenue growth | -33.1% | 14.9% | 22.2% | -58.0% | -14.1% | -4.3% | — |
| Earnings growth | -10.7% | 21.1% | -40.0% | -523.8% | -43.7% | -22.5% | — |
| Current ratio | 1.55x | 1.68x | 1.73x | 1.81x | 1.88x | 1.49x | — |
| Debt to equity | — | 0.14x | 0.16x | 0.11x | 0.08x | 0.23x | 0.41x |
| Equity ratio | 41.2% | 43.9% | 46.1% | 48.7% | 49.8% | 35.6% | — |
| Interest coverage | -24.41x | -15.81x | -13.91x | -29.98x | 5.73x | 6.68x | — |
| R&D as a share of sales | 1.2% | 1.5% | 3.5% | 5.5% | 2.8% | 3.1% | — |
| Buybacks as a share of market value | 1.3% | -1.3% | -2.3% | 5.9% | -44.3% | 3.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.1% | -19.4% | -0.8% |
| Operating income | -34.4% | — | — |
| Net income | -13.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.6% | 11.8% | 17.2% | 18.8% |
| Operating margin | -21.6% | -31.9% | -10.6% | -0.2% |
| Net margin | -29.9% | -33.2% | -12.2% | -1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -16.6 | -6.6 | -12.7 | -6.6 | 43.0 |
| Price to sales | 5.8 | 1.7 | 3.2 | 3.4 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jun 2022.
| FY2022 | FY2021 | |
|---|---|---|
| Paid in the year | 0.20 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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