K 
35.46
-0.20%
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¥1.36bn
FY2017FY2025
Net income
−CN¥70.3m
FY2017FY2025
Free cash flow
−CN¥220.4m
FY2017FY2025
Shareholders' equity
CN¥967.8m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.36bn | CN¥1.36bn | CN¥894.4m | CN¥1.11bn | CN¥1.40bn | CN¥1.11bn | CN¥835.4m | CN¥450.0m | CN¥313.7m |
| Gross profit | CN¥60.9m | CN¥138.5m | CN¥140.5m | CN¥164.0m | CN¥184.5m | CN¥170.3m | CN¥181.9m | CN¥132.5m | CN¥107.2m |
| Research and development | CN¥46.6m | CN¥55.3m | CN¥38.9m | CN¥37.9m | CN¥30.6m | CN¥20.9m | CN¥20.9m | CN¥15.4m | CN¥11.4m |
| Operating income | −CN¥61.7m | −CN¥26.0m | CN¥54.6m | CN¥90.4m | CN¥117.5m | CN¥108.9m | CN¥109.1m | CN¥68.6m | CN¥68.4m |
| Net income | −CN¥70.3m | −CN¥15.5m | CN¥52.2m | CN¥81.6m | CN¥98.7m | CN¥90.8m | CN¥92.3m | CN¥57.8m | CN¥56.8m |
| Diluted earnings per share | -0.96 | -0.21 | 0.70 | 1.14 | 1.36 | 1.68 | 1.26 | 0.79 | 0.78 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.77bn | CN¥2.85bn | CN¥1.73bn | CN¥1.37bn | CN¥1.25bn | CN¥849.8m | CN¥581.7m | CN¥471.4m | CN¥288.8m |
| Cash and short-term investments | CN¥374.0m | CN¥712.9m | CN¥465.8m | CN¥570.6m | CN¥498.1m | CN¥163.9m | CN¥97.7m | CN¥67.1m | CN¥35.6m |
| Total liabilities | CN¥1.71bn | CN¥1.81bn | CN¥676.1m | CN¥363.0m | CN¥315.2m | CN¥474.0m | CN¥298.5m | CN¥201.3m | CN¥90.1m |
| Debt | CN¥1.27bn | CN¥1.20bn | CN¥352.4m | CN¥77.0m | CN¥52.2m | CN¥156.5m | CN¥49.0m | CN¥31.4m | CN¥15.5m |
| Shareholders' equity | CN¥967.8m | CN¥1.04bn | CN¥1.05bn | CN¥1.01bn | CN¥932.2m | CN¥375.7m | CN¥283.2m | CN¥263.5m | CN¥192.8m |
| Shares outstanding | 73m | 75m | 74m | 71m | 73m | 54m | 73m | 73m | 73m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥188.4m | CN¥153.7m | −CN¥1.1m | CN¥82.4m | CN¥22.1m | CN¥100.9m | CN¥66.7m | CN¥39.5m | CN¥18.5m |
| Capital spending | −CN¥408.7m | −CN¥755.6m | −CN¥446.8m | −CN¥72.8m | −CN¥85.7m | −CN¥99.2m | −CN¥29.4m | −CN¥22.2m | −CN¥4.6m |
| Free cash flow | −CN¥220.4m | −CN¥601.9m | −CN¥448.0m | CN¥9.6m | −CN¥63.6m | CN¥1.7m | CN¥37.4m | CN¥17.3m | CN¥13.9m |
| Dividends paid | −CN¥34.1m | −CN¥34.8m | −CN¥17.7m | −CN¥9.9m | −CN¥5.3m | −CN¥31.9m | −CN¥123.7m | −CN¥732,371 | −CN¥1.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥306.2m | CN¥317.4m | CN¥338.8m | CN¥334.7m | CN¥354.5m | CN¥337.1m | CN¥362.7m | CN¥339.7m |
| Gross profit | −CN¥1.6m | −CN¥2.9m | CN¥16.5m | CN¥19.9m | CN¥15.6m | CN¥19.4m | CN¥32.6m | CN¥31.6m |
| Operating income | −CN¥28.5m | −CN¥21.9m | −CN¥43.4m | −CN¥14.1m | −CN¥7.0m | −CN¥8.7m | −CN¥30.8m | −CN¥8.2m |
| Net income | −CN¥24.1m | −CN¥21.9m | −CN¥51.5m | −CN¥6.6m | −CN¥2.8m | −CN¥9.4m | −CN¥27.2m | −CN¥8.6m |
| Diluted earnings per share | -0.33 | -0.30 | -0.70 | -0.09 | -0.04 | -0.13 | -0.36 | -0.12 |
| Cash from operations | — | — | CN¥51.0m | CN¥43.0m | CN¥36.0m | CN¥56.0m | CN¥114.0m | −CN¥5.0m |
| Capital spending | −CN¥34.0m | −CN¥69.0m | −CN¥179.0m | −CN¥90.0m | −CN¥47.0m | −CN¥91.0m | −CN¥160.0m | −CN¥396.0m |
| Free cash flow | — | — | −CN¥128.0m | −CN¥47.0m | −CN¥11.0m | −CN¥35.0m | −CN¥46.0m | −CN¥401.0m |
| Total assets | CN¥2.76bn | CN¥2.86bn | CN¥2.77bn | CN¥2.96bn | CN¥2.84bn | CN¥2.87bn | CN¥2.85bn | CN¥2.85bn |
| Cash and short-term investments | — | — | CN¥374.0m | CN¥596.2m | CN¥592.0m | CN¥681.9m | CN¥712.9m | CN¥817.3m |
| Debt | CN¥867.5m | CN¥885.2m | CN¥1.27bn | CN¥556.6m | CN¥1.20bn | CN¥1.22bn | CN¥1.20bn | CN¥1.27bn |
| Shareholders' equity | CN¥921.7m | CN¥945.8m | CN¥967.8m | CN¥1.02bn | CN¥1.03bn | CN¥1.03bn | CN¥1.04bn | CN¥1.07bn |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 4.5% | 10.2% | 15.7% | 14.8% | 13.2% | 15.4% |
| Operating margin | -4.3% | -0.6% | 7.3% | 8.4% | 8.6% | 10.0% |
| Net margin | -5.2% | -1.1% | 5.8% | 7.4% | 7.1% | 8.2% |
| Return on equity | -7.3% | -1.5% | 5.0% | 8.1% | 10.6% | 24.2% |
| Return on assets | -2.5% | -0.5% | 3.0% | 6.0% | 7.9% | 10.7% |
| Free cash flow yield | 21.3% | 31.7% | 15.6% | 5.7% | 3.9% | 9.7% |
| Revenue growth | 0.3% | 51.9% | -19.3% | -20.7% | 26.3% | 32.3% |
| Earnings growth | 354.8% | -129.6% | -36.0% | -17.3% | 8.7% | -1.7% |
| Current ratio | 1.21x | 1.49x | 1.80x | 2.96x | 3.27x | 1.34x |
| Debt to equity | 1.31x | 1.15x | 0.33x | 0.07x | 0.05x | 0.42x |
| Equity ratio | 34.9% | 36.5% | 60.9% | 73.5% | 74.7% | 44.2% |
| Interest coverage | -2.25x | -0.46x | 5.98x | 25.94x | 20.85x | 28.92x |
| R&D as a share of sales | 3.4% | 4.1% | 4.4% | 3.4% | 2.2% | 1.9% |
| Buybacks as a share of market value | 2.0% | -0.2% | -4.4% | 2.0% | -34.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.1% | 4.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.3% | 10.7% | 11.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -52.5 | -196.8 | 73.7 | 25.2 | 29.1 |
| Price to sales | 2.7 | 2.2 | 4.3 | 1.9 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jun 2024.
| FY2024 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.072 | 0.112 | 0.135 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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