J 
4.22
-3.65%
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¥65.50bn
FY2016FY2025
Net income
−CN¥4.45bn
FY2016FY2025
Free cash flow
−CN¥2.22bn
FY2016FY2025
Shareholders' equity
CN¥15.74bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥65.50bn | CN¥92.26bn | CN¥118.68bn | CN¥83.13bn | CN¥40.83bn | CN¥35.13bn | CN¥29.75bn | CN¥25.04bn | CN¥26.47bn | CN¥21.40bn |
| Gross profit | CN¥1.41bn | CN¥10.06bn | CN¥19.05bn | CN¥12.28bn | CN¥6.66bn | CN¥6.17bn | CN¥5.43bn | CN¥3.51bn | CN¥2.99bn | CN¥3.87bn |
| Research and development | CN¥896.9m | CN¥920.5m | CN¥911.9m | CN¥724.8m | CN¥461.6m | CN¥389.2m | CN¥324.4m | CN¥366.6m | CN¥294.1m | CN¥181.1m |
| Operating income | −CN¥8.48bn | CN¥1.40bn | CN¥6.71bn | CN¥429.2m | CN¥1.73bn | CN¥972.9m | CN¥1.73bn | CN¥644.9m | CN¥325.3m | CN¥1.35bn |
| Net income | −CN¥4.45bn | CN¥54.5m | CN¥3.45bn | CN¥620.5m | CN¥721.0m | CN¥230.4m | CN¥898.7m | CN¥406.5m | CN¥141.7m | CN¥1.83bn |
| Diluted earnings per share | -0.44 | 0.01 | 0.34 | 0.06 | 0.07 | 0.02 | 0.09 | 0.04 | 0.01 | 0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥121.10bn | CN¥124.88bn | CN¥135.83bn | CN¥108.66bn | CN¥72.98bn | CN¥53.23bn | CN¥47.84bn | CN¥35.85bn | CN¥28.64bn | CN¥26.09bn |
| Cash and short-term investments | CN¥30.45bn | CN¥25.98bn | CN¥17.08bn | CN¥10.35bn | CN¥8.47bn | CN¥8.05bn | CN¥5.65bn | CN¥3.10bn | CN¥1.93bn | CN¥2.57bn |
| Total liabilities | CN¥93.51bn | CN¥90.64bn | CN¥102.30bn | CN¥81.66bn | CN¥58.70bn | CN¥40.24bn | CN¥35.40bn | CN¥27.40bn | CN¥21.95bn | CN¥19.63bn |
| Debt | — | CN¥44.61bn | CN¥35.72bn | CN¥30.17bn | CN¥30.02bn | CN¥20.36bn | CN¥19.51bn | CN¥14.99bn | — | — |
| Shareholders' equity | CN¥15.74bn | CN¥19.90bn | CN¥20.16bn | CN¥27.00bn | CN¥14.29bn | CN¥9.99bn | CN¥9.30bn | CN¥8.45bn | CN¥6.69bn | CN¥6.46bn |
| Shares outstanding | 10,005m | 10,005m | 10,005m | 10,000m | 10,005m | 10,005m | 10,005m | 10,005m | 10,005m | 10,005m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.08bn | CN¥16.85bn | CN¥13.83bn | −CN¥5.80bn | CN¥430.6m | CN¥591.5m | CN¥1.41bn | CN¥614.5m | −CN¥177.1m | −CN¥1.80bn |
| Capital spending | −CN¥3.30bn | −CN¥9.37bn | −CN¥15.85bn | −CN¥12.25bn | −CN¥8.65bn | −CN¥4.13bn | −CN¥3.67bn | −CN¥2.45bn | −CN¥2.56bn | −CN¥4.09bn |
| Free cash flow | −CN¥2.22bn | CN¥7.48bn | −CN¥2.02bn | −CN¥18.05bn | −CN¥8.22bn | −CN¥3.54bn | −CN¥2.26bn | −CN¥1.84bn | −CN¥2.74bn | −CN¥5.90bn |
| Dividends paid | −CN¥486.8m | −CN¥547.7m | −CN¥559.6m | — | −CN¥23.21bn | −CN¥15.60bn | — | — | — | — |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 12.0% | 15.7% | 13.2% | 14.0% | 13.4% | 14.9% | — |
| Operating margin | -12.0% | 3.4% | — | 5.1% | 7.3% | 7.8% | 8.0% |
| Net margin | -10.5% | 0.1% | 6.3% | 3.6% | 2.8% | 3.1% | — |
| Return on equity | -27.1% | 0.3% | 21.7% | 11.0% | 8.4% | 8.3% | — |
| Return on assets | -5.8% | 0.1% | 5.6% | 2.8% | 1.6% | 2.0% | — |
| Free cash flow yield | 12.4% | 43.7% | 115.8% | 48.7% | — | — | — |
| Revenue growth | -29.2% | -22.1% | 43.6% | 103.8% | 20.5% | 14.1% | — |
| Earnings growth | -7056.1% | -98.7% | 153.2% | 157.5% | 9.6% | -24.6% | — |
| Current ratio | 1.29x | 1.37x | 1.15x | 1.09x | 1.02x | 1.17x | — |
| Debt to equity | 0.96x | 0.73x | 0.37x | 0.12x | 0.03x | 0.03x | — |
| Equity ratio | 21.5% | 26.7% | 26.0% | 25.3% | 18.6% | 24.6% | — |
| Interest coverage | -4.61x | 2.29x | — | 3.95x | 3.53x | 3.76x | 5.05x |
| R&D as a share of sales | 1.3% | 0.8% | 1.3% | 1.5% | 1.8% | 2.1% | — |
| Buybacks as a share of market value | -0.0% | -0.0% | -0.1% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.6% | 13.3% | 15.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.3% | 11.9% | 12.8% | 13.4% |
| Operating margin | -4.5% | 0.0% | 0.6% | 1.4% |
| Net margin | -2.8% | -0.1% | 0.1% | 0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -12.7 | — | 25.7 | 236.1 |
| Price to sales | 0.9 | 0.8 | 0.8 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jun 2024.
| FY2024 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.224 | 0.089 | 0.023 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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