N 
18.74
-2.75%
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¥12.27bn
FY2016FY2025
Net income
−CN¥182.4m
FY2016FY2025
Free cash flow
CN¥564.9m
FY2016FY2025
Shareholders' equity
CN¥8.23bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥12.27bn | CN¥15.09bn | CN¥22.66bn | CN¥30.12bn | CN¥10.26bn | CN¥3.79bn | CN¥4.19bn | CN¥3.04bn | CN¥1.88bn | CN¥885.2m |
| Research and development | CN¥421.7m | CN¥424.2m | CN¥354.2m | CN¥486.6m | CN¥359.5m | CN¥146.0m | CN¥165.0m | CN¥119.9m | CN¥77.0m | CN¥31.8m |
| Operating income | −CN¥110.9m | CN¥540.5m | CN¥804.8m | CN¥1.62bn | CN¥1.02bn | CN¥253.3m | CN¥98.7m | CN¥249.1m | CN¥47.8m | CN¥16.6m |
| Net income | −CN¥182.4m | CN¥295.9m | CN¥580.9m | CN¥1.35bn | CN¥911.0m | CN¥213.1m | CN¥87.4m | CN¥212.9m | CN¥31.1m | CN¥6.9m |
| Diluted earnings per share | -0.26 | 0.45 | 0.82 | 1.97 | 1.29 | 0.31 | 0.13 | 0.33 | 0.04 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥22.97bn | CN¥24.62bn | CN¥24.64bn | CN¥25.66bn | CN¥14.70bn | CN¥6.14bn | CN¥5.85bn | CN¥4.26bn | CN¥2.19bn | CN¥797.5m |
| Cash and short-term investments | CN¥4.59bn | CN¥3.63bn | CN¥5.80bn | CN¥5.07bn | CN¥2.83bn | CN¥1.61bn | CN¥1.51bn | CN¥231.0m | CN¥203.8m | CN¥48.0m |
| Total liabilities | −CN¥8.23bn | CN¥15.44bn | CN¥14.37bn | CN¥17.11bn | CN¥9.27bn | CN¥1.64bn | CN¥1.53bn | CN¥1.13bn | CN¥646.4m | CN¥557.6m |
| Debt | CN¥4.30bn | CN¥4.33bn | CN¥5.04bn | CN¥5.06bn | CN¥1.25bn | CN¥17.9m | CN¥272.5m | CN¥110.3m | CN¥56.8m | CN¥41.4m |
| Shareholders' equity | CN¥8.23bn | CN¥8.44bn | CN¥8.70bn | CN¥6.96bn | CN¥5.43bn | CN¥4.48bn | CN¥4.31bn | CN¥3.13bn | CN¥1.54bn | CN¥229.8m |
| Shares outstanding | 699m | 651m | 709m | 686m | 707m | 695m | 657m | 653m | 699m | 699m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.14bn | CN¥523.4m | CN¥1.80bn | −CN¥241.0m | −CN¥191.9m | CN¥707.9m | CN¥117.5m | −CN¥542.8m | −CN¥637.7m | −CN¥62.9m |
| Capital spending | −CN¥570.3m | −CN¥1.78bn | −CN¥1.64bn | −CN¥3.09bn | −CN¥1.90bn | −CN¥314.5m | −CN¥263.3m | −CN¥823.9m | −CN¥206.5m | −CN¥48.1m |
| Free cash flow | CN¥564.9m | −CN¥1.25bn | CN¥158.5m | −CN¥3.33bn | −CN¥2.10bn | CN¥393.4m | −CN¥145.9m | −CN¥1.37bn | −CN¥844.2m | −CN¥111.0m |
| Dividends paid | −CN¥425.3m | −CN¥320.3m | −CN¥295.8m | −CN¥91.8m | −CN¥40.3m | −CN¥39.9m | −CN¥8.4m | −CN¥14.2m | −CN¥10.0m | −CN¥2.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.94bn | CN¥3.78bn | CN¥3.29bn | CN¥2.74bn | CN¥3.28bn | CN¥2.96bn | CN¥3.76bn | CN¥4.44bn |
| Operating income | CN¥206.2m | CN¥128.8m | CN¥60.3m | −CN¥144.3m | CN¥15.7m | CN¥47.0m | CN¥234.5m | CN¥150.4m |
| Net income | CN¥97.8m | CN¥11.6m | CN¥21.3m | −CN¥135.2m | −CN¥53.0m | −CN¥15.4m | CN¥179.5m | CN¥106.1m |
| Diluted earnings per share | 0.14 | 0.02 | 0.03 | -0.19 | -0.08 | -0.02 | 0.28 | 0.16 |
| Cash from operations | — | — | — | CN¥484.0m | CN¥1.50bn | −CN¥605.0m | CN¥1.01bn | CN¥355.0m |
| Capital spending | −CN¥289.0m | −CN¥316.0m | — | −CN¥99.0m | −CN¥125.0m | −CN¥373.0m | −CN¥415.0m | −CN¥690.0m |
| Free cash flow | — | — | — | CN¥385.0m | CN¥1.37bn | −CN¥978.0m | CN¥593.0m | −CN¥335.0m |
| Total assets | CN¥26.33bn | CN¥24.30bn | CN¥22.97bn | CN¥23.96bn | CN¥23.68bn | CN¥24.80bn | CN¥24.62bn | CN¥25.66bn |
| Cash and short-term investments | — | — | CN¥4.59bn | CN¥4.59bn | CN¥3.80bn | CN¥4.39bn | CN¥3.63bn | CN¥4.21bn |
| Debt | CN¥4.22bn | CN¥4.00bn | CN¥4.30bn | CN¥6.80bn | CN¥4.86bn | CN¥12.25bn | CN¥4.31bn | CN¥11.57bn |
| Shareholders' equity | CN¥7.77bn | CN¥7.76bn | CN¥8.23bn | CN¥8.11bn | CN¥8.30bn | CN¥8.43bn | CN¥8.44bn | CN¥8.46bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -0.9% | 3.6% | 3.6% | 5.4% | 9.9% | 6.7% |
| Net margin | -1.5% | 2.0% | 2.6% | 4.5% | 8.9% | 5.6% |
| Return on equity | -2.2% | 3.5% | 6.7% | 19.4% | 16.8% | 4.8% |
| Return on assets | -0.8% | 1.2% | 2.4% | 5.3% | 6.2% | 3.5% |
| Free cash flow yield | 10.4% | 15.1% | 20.7% | 17.8% | 10.4% | 6.3% |
| Revenue growth | -18.7% | -33.4% | -24.8% | 193.6% | 170.4% | -9.4% |
| Earnings growth | -161.6% | -49.1% | -57.1% | 48.5% | 327.6% | 143.7% |
| Current ratio | 1.19x | 1.29x | 1.62x | 1.21x | 1.10x | 2.81x |
| Debt to equity | 0.52x | 0.51x | 0.63x | 0.71x | 0.23x | 0.00x |
| Equity ratio | 35.8% | 34.3% | 35.3% | 27.1% | 36.9% | 73.1% |
| Interest coverage | -0.62x | 2.54x | 5.10x | 15.14x | 20.61x | 15.59x |
| R&D as a share of sales | 3.4% | 2.8% | 1.6% | 1.6% | 3.5% | 3.8% |
| Buybacks as a share of market value | -7.5% | 8.3% | -3.4% | 2.9% | -1.8% | -5.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.2% | 26.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -135.7 | 46.6 | 32.6 | 23.4 | 60.2 | 112.8 | 167.9 |
| Price to sales | 2.0 | 0.9 | 0.8 | 1.1 | 5.4 | 6.3 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 6 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.37 | 0.203 | 0.203 | 0.138 | 0.06 | 0.06 |
- 1.49-for-1 split · 6 Mar 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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