R 
20.72
-2.86%
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¥212.9m
FY2016FY2025
Net income
−CN¥128.7m
FY2016FY2025
Free cash flow
−CN¥14.4m
FY2016FY2025
Shareholders' equity
CN¥599.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥212.9m | CN¥300.4m | CN¥322.4m | CN¥261.3m | CN¥486.3m | CN¥681.4m | CN¥514.8m | CN¥389.0m | CN¥332.3m | CN¥306.5m |
| Research and development | CN¥48.2m | CN¥48.5m | CN¥78.0m | CN¥100.8m | CN¥108.1m | CN¥61.4m | CN¥47.0m | CN¥25.8m | CN¥21.9m | CN¥26.6m |
| Operating income | −CN¥132.9m | −CN¥102.0m | −CN¥199.1m | −CN¥286.0m | −CN¥146.1m | CN¥205.0m | CN¥140.2m | CN¥82.7m | CN¥48.1m | CN¥31.1m |
| Net income | −CN¥128.7m | −CN¥103.2m | −CN¥208.3m | −CN¥287.7m | −CN¥129.2m | CN¥176.9m | CN¥118.9m | CN¥64.0m | CN¥35.8m | CN¥28.7m |
| Diluted earnings per share | -1.64 | -1.28 | -2.68 | -3.76 | -1.62 | 2.26 | 2.02 | 1.28 | 0.46 | 0.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥919.2m | CN¥1.03bn | CN¥1.19bn | CN¥1.48bn | CN¥1.86bn | CN¥2.00bn | CN¥907.7m | CN¥838.9m | CN¥717.1m | CN¥612.2m |
| Cash and short-term investments | — | CN¥100.3m | CN¥162.1m | CN¥303.6m | CN¥492.6m | CN¥774.9m | CN¥118.0m | CN¥98.0m | CN¥12.8m | CN¥72.9m |
| Total liabilities | CN¥327.8m | CN¥314.5m | CN¥375.1m | CN¥453.1m | CN¥532.0m | CN¥501.3m | CN¥424.3m | CN¥637.9m | CN¥580.6m | CN¥512.3m |
| Debt | CN¥24.0m | CN¥71.5m | CN¥143.2m | CN¥127.7m | CN¥141.9m | CN¥123.5m | CN¥150.3m | CN¥127.9m | CN¥104.0m | CN¥85.0m |
| Shareholders' equity | CN¥599.1m | CN¥719.9m | CN¥822.1m | CN¥1.03bn | CN¥1.32bn | CN¥1.49bn | CN¥481.5m | CN¥199.7m | CN¥135.7m | CN¥99.9m |
| Shares outstanding | 78m | 81m | 78m | 77m | 80m | 78m | 59m | 50m | 78m | 78m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥13.4m | CN¥1.5m | −CN¥128.5m | −CN¥215.7m | −CN¥24.4m | −CN¥56.6m | CN¥21.3m | CN¥65.9m | CN¥2.4m | CN¥41.9m |
| Capital spending | −CN¥1.0m | −CN¥3.6m | −CN¥3.4m | −CN¥19.8m | −CN¥183.7m | −CN¥89.2m | −CN¥100.3m | −CN¥27.2m | −CN¥72.0m | −CN¥48.6m |
| Free cash flow | −CN¥14.4m | −CN¥2.1m | −CN¥131.9m | −CN¥235.5m | −CN¥208.1m | −CN¥145.8m | −CN¥79.0m | CN¥38.7m | −CN¥69.5m | −CN¥6.7m |
| Dividends paid | −CN¥2.7m | −CN¥4.0m | −CN¥4.3m | −CN¥5.2m | −CN¥56.6m | −CN¥42.3m | −CN¥8.1m | −CN¥6.7m | −CN¥7.2m | −CN¥4.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥40.8m | CN¥42.1m | CN¥47.3m | CN¥56.2m | CN¥53.9m | CN¥55.6m | CN¥61.4m | CN¥59.9m |
| Operating income | −CN¥23.2m | −CN¥18.5m | −CN¥66.3m | −CN¥27.9m | −CN¥29.1m | −CN¥13.4m | −CN¥72.9m | −CN¥973,891 |
| Net income | −CN¥37.1m | −CN¥20.3m | −CN¥61.5m | −CN¥26.4m | −CN¥27.6m | −CN¥13.3m | −CN¥71.8m | −CN¥1.9m |
| Diluted earnings per share | -0.47 | -0.26 | -0.79 | -0.34 | -0.35 | -0.17 | -0.89 | -0.02 |
| Cash from operations | — | — | — | −CN¥9.0m | — | −CN¥32.0m | — | CN¥13.0m |
| Capital spending | −CN¥19.0m | — | — | −CN¥1.0m | −CN¥4.0m | −CN¥3.0m | — | — |
| Free cash flow | — | — | — | −CN¥10.0m | — | −CN¥35.0m | — | — |
| Total assets | CN¥862.5m | CN¥894.5m | CN¥919.2m | CN¥950.6m | CN¥974.5m | CN¥1.01bn | CN¥1.03bn | CN¥1.10bn |
| Cash and short-term investments | — | — | — | CN¥56.4m | CN¥64.7m | CN¥80.1m | CN¥100.3m | CN¥113.4m |
| Debt | CN¥29.0m | CN¥34.0m | CN¥24.0m | CN¥64.6m | CN¥78.7m | CN¥86.5m | CN¥70.5m | CN¥86.6m |
| Shareholders' equity | CN¥541.7m | CN¥578.8m | CN¥599.1m | CN¥652.6m | CN¥679.0m | CN¥706.6m | CN¥719.9m | CN¥791.7m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -63.2% | -32.9% | -61.7% | -103.4% | -28.9% | 30.6% |
| Net margin | -60.5% | -34.3% | -64.6% | -110.1% | -26.6% | 26.0% |
| Return on equity | -21.5% | -14.3% | -25.3% | -28.0% | -9.8% | 11.9% |
| Return on assets | -14.0% | -10.1% | -17.5% | -19.4% | -7.0% | 8.9% |
| Free cash flow yield | -0.7% | 0.3% | -7.5% | -11.9% | 9.3% | 1.9% |
| Revenue growth | -29.1% | -6.8% | 23.4% | -46.3% | -28.6% | 32.4% |
| Earnings growth | 24.8% | -50.5% | -27.6% | 122.6% | -173.0% | 48.9% |
| Current ratio | 1.94x | 1.95x | 2.03x | 2.13x | 2.35x | 3.09x |
| Debt to equity | 0.04x | 0.10x | 0.16x | 0.12x | 0.11x | 0.08x |
| Equity ratio | 65.2% | 70.1% | 69.0% | 69.4% | 71.2% | 74.7% |
| Interest coverage | -40.79x | -21.98x | -35.70x | -29.41x | -25.81x | 23.04x |
| R&D as a share of sales | 22.6% | 16.1% | 24.2% | 38.6% | 22.2% | 9.0% |
| Buybacks as a share of market value | 3.0% | -3.7% | -1.7% | 4.3% | -2.2% | -33.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.0% | -20.8% | — |
| Operating income | -22.5% | — | — |
| Net income | -23.5% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -24.1 | -16.3 | -12.5 | -8.2 | -29.5 | 35.9 |
| Price to sales | 14.8 | 5.7 | 8.2 | 9.4 | 7.9 | 9.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 15 Jul 2021.
| FY2021 | FY2020 | |
|---|---|---|
| Paid in the year | 0.687 | 0.462 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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