D 
41.65
-1.35%
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¥2.15bn
FY2016FY2025
Net income
−CN¥58.3m
FY2016FY2025
Free cash flow
CN¥227.1m
FY2016FY2025
Shareholders' equity
CN¥2.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.15bn | CN¥2.04bn | CN¥2.17bn | CN¥1.98bn | CN¥1.82bn | CN¥1.32bn | CN¥944.0m | CN¥626.6m | CN¥430.4m | CN¥316.7m |
| Research and development | CN¥439.2m | CN¥492.6m | CN¥636.5m | CN¥645.8m | CN¥535.6m | CN¥311.7m | CN¥204.5m | CN¥152.0m | CN¥95.9m | CN¥65.9m |
| Operating income | CN¥19.6m | −CN¥140.7m | −CN¥342.5m | −CN¥319.5m | −CN¥40.8m | CN¥139.8m | CN¥92.1m | CN¥74.0m | CN¥57.0m | CN¥5.2m |
| Net income | −CN¥58.3m | −CN¥197.8m | −CN¥359.8m | −CN¥253.6m | CN¥13.8m | CN¥134.1m | CN¥92.2m | CN¥76.9m | CN¥52.1m | −CN¥478,500 |
| Diluted earnings per share | -0.57 | -1.97 | -3.61 | -2.49 | 0.13 | 1.42 | 1.14 | 1.06 | 0.51 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.47bn | CN¥5.04bn | CN¥4.98bn | CN¥5.01bn | CN¥4.85bn | CN¥2.46bn | CN¥2.17bn | CN¥891.9m | CN¥623.2m | CN¥390.7m |
| Cash and short-term investments | — | CN¥1.92bn | CN¥1.71bn | CN¥2.13bn | CN¥2.40bn | CN¥1.48bn | CN¥1.48bn | CN¥397.8m | CN¥215.9m | CN¥84.5m |
| Total liabilities | CN¥2.08bn | CN¥2.51bn | CN¥2.41bn | CN¥2.09bn | CN¥1.74bn | CN¥791.1m | CN¥621.8m | CN¥384.8m | CN¥191.3m | CN¥153.1m |
| Debt | CN¥70.5m | CN¥795.0m | CN¥1.33bn | CN¥1.08bn | CN¥882.0m | CN¥107.1m | CN¥129.9m | CN¥86.7m | CN¥10.2m | CN¥2.6m |
| Shareholders' equity | CN¥2.37bn | CN¥2.51bn | CN¥2.56bn | CN¥2.91bn | CN¥3.09bn | CN¥1.67bn | CN¥1.55bn | CN¥506.9m | CN¥432.4m | CN¥233.7m |
| Shares outstanding | 103m | 100m | 100m | 102m | 103m | 94m | 81m | 73m | 103m | 103m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥352.5m | CN¥160.8m | −CN¥231.5m | −CN¥178.8m | −CN¥61.3m | CN¥280.0m | CN¥216.5m | CN¥96.0m | CN¥68.9m | CN¥63.8m |
| Capital spending | −CN¥125.4m | −CN¥165.7m | −CN¥179.6m | −CN¥205.3m | −CN¥282.5m | −CN¥127.5m | −CN¥126.8m | −CN¥95.2m | −CN¥48.9m | −CN¥31.7m |
| Free cash flow | CN¥227.1m | −CN¥4.8m | −CN¥411.1m | −CN¥384.2m | −CN¥343.8m | CN¥152.5m | CN¥89.7m | CN¥743,144 | CN¥20.0m | CN¥32.1m |
| Dividends paid | −CN¥34.2m | −CN¥45.4m | −CN¥47.4m | −CN¥41.7m | −CN¥14.8m | −CN¥28.0m | −CN¥5.6m | −CN¥2.2m | −CN¥448,326 | −CN¥856,268 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥414.2m | CN¥324.9m | CN¥948.4m | CN¥471.7m | CN¥421.7m | CN¥311.1m | CN¥898.3m | CN¥447.0m |
| Operating income | −CN¥53.8m | −CN¥110.4m | CN¥202.4m | −CN¥15.4m | −CN¥72.2m | −CN¥104.2m | CN¥165.8m | −CN¥54.5m |
| Net income | −CN¥62.1m | −CN¥114.1m | CN¥147.9m | −CN¥12.1m | −CN¥82.7m | −CN¥111.4m | CN¥138.1m | −CN¥60.4m |
| Diluted earnings per share | -0.60 | -1.11 | 1.44 | -0.12 | -0.80 | -1.08 | 1.38 | -0.60 |
| Cash from operations | — | — | — | CN¥10.0m | −CN¥45.0m | −CN¥275.0m | — | CN¥50.0m |
| Capital spending | −CN¥19.0m | −CN¥30.0m | −CN¥31.0m | −CN¥20.0m | −CN¥43.0m | −CN¥29.0m | −CN¥30.0m | −CN¥55.0m |
| Free cash flow | — | — | — | −CN¥10.0m | −CN¥88.0m | −CN¥304.0m | — | −CN¥5.0m |
| Total assets | CN¥4.02bn | CN¥4.10bn | CN¥4.47bn | CN¥4.25bn | CN¥4.55bn | CN¥4.72bn | CN¥5.04bn | CN¥4.57bn |
| Cash and short-term investments | — | — | — | CN¥1.25bn | CN¥1.45bn | CN¥1.65bn | CN¥1.92bn | CN¥1.51bn |
| Debt | — | CN¥160.0m | CN¥70.5m | CN¥951.5m | CN¥581.6m | CN¥681.4m | CN¥733.6m | CN¥802.0m |
| Shareholders' equity | CN¥2.15bn | CN¥2.23bn | CN¥2.37bn | CN¥2.27bn | CN¥2.35bn | CN¥2.44bn | CN¥2.51bn | CN¥2.35bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -0.6% | -6.1% | -14.5% | -14.4% | -1.4% | 10.4% |
| Net margin | -2.7% | -9.7% | -16.6% | -12.8% | 0.8% | 10.1% |
| Return on equity | -2.5% | -7.9% | -14.1% | -8.7% | 0.4% | 8.0% |
| Return on assets | -1.3% | -3.9% | -7.2% | -5.1% | 0.3% | 5.4% |
| Free cash flow yield | 9.3% | 6.5% | -1.0% | 0.5% | 4.3% | 8.7% |
| Revenue growth | 5.4% | -5.9% | 9.6% | 8.8% | 37.6% | 40.1% |
| Earnings growth | -70.5% | -45.0% | 41.9% | -1936.5% | -89.7% | 45.4% |
| Current ratio | 1.33x | 1.36x | 1.42x | 2.46x | 3.04x | 2.83x |
| Debt to equity | 0.03x | 0.29x | 0.46x | 0.31x | 0.24x | 0.07x |
| Equity ratio | 53.0% | 49.8% | 51.4% | 58.0% | 63.7% | 67.8% |
| Interest coverage | -0.31x | -2.41x | -5.91x | -6.18x | -1.38x | 22.45x |
| R&D as a share of sales | 20.4% | 24.1% | 29.3% | 32.6% | 29.4% | 23.6% |
| Buybacks as a share of market value | -2.5% | -0.8% | 2.4% | 0.9% | -9.2% | -16.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.0% | 9.9% | — |
| Operating income | — | -32.5% | — |
| Net income | -38.7% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -90.8 | -20.7 | -23.6 | -61.3 | — | 140.5 | 94.7 |
| Price to sales | 2.5 | 2.1 | 4.0 | 8.0 | 11.0 | 14.3 | 9.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jun 2021.
| FY2021 | FY2020 | |
|---|---|---|
| Paid in the year | 0.154 | 0.291 |
- 13-for-10 split · 5 Jul 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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