A 
9.49
-1.25%
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¥1.71bn
FY2016FY2025
Net income
−CN¥264.5m
FY2016FY2025
Free cash flow
CN¥28.7m
FY2016FY2025
Shareholders' equity
CN¥2.47bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.71bn | CN¥2.42bn | CN¥2.21bn | CN¥2.54bn | CN¥2.50bn | CN¥1.95bn | CN¥1.98bn | CN¥1.39bn | CN¥805.6m | CN¥355.0m |
| Research and development | CN¥245.8m | CN¥247.7m | CN¥280.9m | CN¥262.1m | CN¥236.7m | CN¥204.4m | CN¥201.7m | CN¥135.7m | CN¥93.3m | CN¥70.1m |
| Operating income | −CN¥220.7m | CN¥7.9m | CN¥35.6m | CN¥54.7m | CN¥238.5m | CN¥120.3m | CN¥279.6m | CN¥258.8m | CN¥102.3m | CN¥5.3m |
| Net income | −CN¥264.5m | CN¥28.0m | CN¥103.2m | CN¥119.4m | CN¥233.4m | CN¥113.8m | CN¥186.5m | CN¥177.0m | CN¥105.4m | CN¥13.9m |
| Diluted earnings per share | -0.56 | 0.06 | 0.25 | 0.26 | 0.52 | 0.23 | 0.41 | 0.46 | 0.23 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.49bn | CN¥4.26bn | CN¥4.22bn | CN¥4.33bn | CN¥4.10bn | CN¥3.23bn | CN¥3.10bn | CN¥2.07bn | CN¥1.04bn | CN¥493.1m |
| Cash and short-term investments | CN¥1.62bn | CN¥1.83bn | CN¥1.90bn | CN¥1.71bn | CN¥1.37bn | CN¥1.15bn | CN¥1.42bn | CN¥484.2m | CN¥99.1m | CN¥105.8m |
| Total liabilities | −CN¥2.47bn | CN¥1.59bn | CN¥1.42bn | CN¥1.59bn | CN¥1.47bn | CN¥1.04bn | CN¥975.3m | CN¥1.25bn | CN¥906.2m | CN¥403.3m |
| Debt | CN¥205.6m | CN¥440.9m | CN¥466.2m | CN¥745.7m | CN¥539.8m | CN¥335.0m | CN¥421.3m | CN¥556.2m | CN¥447.0m | CN¥107.7m |
| Shareholders' equity | CN¥2.47bn | CN¥2.74bn | CN¥2.82bn | CN¥2.65bn | CN¥2.44bn | CN¥2.09bn | CN¥1.97bn | CN¥715.9m | CN¥70.6m | CN¥48.5m |
| Shares outstanding | 468m | 432m | 417m | 467m | 452m | 497m | 456m | 381m | 468m | 468m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥194.8m | CN¥87.2m | CN¥364.1m | CN¥177.4m | CN¥58.3m | CN¥52.4m | CN¥243.0m | CN¥117.8m | −CN¥115.2m | −CN¥42.8m |
| Capital spending | −CN¥166.1m | −CN¥89.0m | −CN¥115.2m | −CN¥167.3m | −CN¥123.0m | −CN¥66.3m | −CN¥243.9m | −CN¥195.1m | −CN¥47.3m | −CN¥19.8m |
| Free cash flow | CN¥28.7m | −CN¥1.8m | CN¥248.8m | CN¥10.0m | −CN¥64.7m | −CN¥13.9m | −CN¥917,850 | −CN¥77.3m | −CN¥162.4m | −CN¥62.6m |
| Dividends paid | −CN¥27.3m | −CN¥55.2m | −CN¥52.5m | −CN¥47.5m | −CN¥41.0m | −CN¥54.4m | −CN¥34.3m | −CN¥31.8m | −CN¥15.9m | −CN¥3.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥245.1m | CN¥232.2m | CN¥356.2m | CN¥391.7m | CN¥500.1m | CN¥461.4m | CN¥699.0m | CN¥638.2m |
| Operating income | −CN¥18.3m | −CN¥33.1m | −CN¥166.1m | −CN¥5.6m | −CN¥23.7m | −CN¥25.3m | −CN¥31.9m | CN¥34.1m |
| Net income | −CN¥55.1m | −CN¥37.3m | −CN¥128.9m | −CN¥4.6m | −CN¥109.6m | −CN¥21.4m | −CN¥15.0m | CN¥32.0m |
| Diluted earnings per share | -0.12 | -0.08 | -0.28 | -0.01 | -0.23 | -0.05 | -0.03 | 0.07 |
| Cash from operations | — | — | — | CN¥71.0m | CN¥30.0m | CN¥64.0m | — | CN¥154.0m |
| Capital spending | −CN¥18.0m | −CN¥47.0m | −CN¥16.0m | −CN¥17.0m | −CN¥41.0m | −CN¥90.0m | −CN¥23.0m | −CN¥25.0m |
| Free cash flow | — | — | — | CN¥54.0m | −CN¥11.0m | −CN¥26.0m | — | CN¥129.0m |
| Total assets | CN¥3.20bn | CN¥3.29bn | CN¥3.49bn | CN¥3.84bn | CN¥3.98bn | CN¥4.09bn | CN¥4.26bn | CN¥4.20bn |
| Cash and short-term investments | — | — | CN¥1.62bn | CN¥1.62bn | CN¥1.72bn | CN¥1.84bn | CN¥1.83bn | CN¥1.82bn |
| Debt | CN¥212.0m | CN¥225.7m | CN¥205.6m | CN¥508.2m | CN¥419.4m | CN¥405.7m | CN¥368.9m | CN¥360.9m |
| Shareholders' equity | CN¥2.36bn | CN¥2.41bn | CN¥2.47bn | CN¥2.58bn | CN¥2.58bn | CN¥2.72bn | CN¥2.74bn | CN¥2.75bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -18.4% | 1.1% | 2.7% | 2.2% | 12.3% | 6.8% |
| Net margin | -15.5% | 1.2% | 4.7% | 4.7% | 9.3% | 5.8% |
| Return on equity | -10.7% | 1.0% | 3.7% | 4.5% | 9.6% | 5.4% |
| Return on assets | -7.6% | 0.7% | 2.4% | 2.8% | 5.7% | 3.5% |
| Free cash flow yield | 7.5% | 4.0% | 11.2% | 7.2% | 3.9% | 2.3% |
| Revenue growth | -29.3% | 9.3% | -12.9% | 1.7% | 28.2% | -1.5% |
| Earnings growth | -1046.2% | -72.9% | -13.6% | -48.8% | 105.0% | -38.9% |
| Current ratio | 2.12x | 2.47x | 2.99x | 2.74x | 2.62x | 2.16x |
| Debt to equity | 0.08x | 0.13x | 0.16x | 0.20x | 0.15x | 0.16x |
| Equity ratio | 70.9% | 64.4% | 66.8% | 61.1% | 59.5% | 64.8% |
| Interest coverage | -18.09x | 1.38x | 2.75x | 2.01x | 16.61x | 6.12x |
| R&D as a share of sales | 14.4% | 10.2% | 12.7% | 10.3% | 9.5% | 10.5% |
| Buybacks as a share of market value | -8.4% | -3.6% | 10.7% | -3.4% | 9.1% | -9.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.4% | -2.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -32.9 | 228.6 | 104.6 | 97.2 | 66.5 | 81.0 | 67.8 |
| Price to sales | 5.1 | 2.6 | 4.9 | 4.6 | 6.2 | 4.7 | 6.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 16 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.025 | 0.07 | 0.054 | 0.105 | 0.055 | 0.075 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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