Z 
16.10
-0.49%
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¥306.8m
FY2016FY2025
Net income
−CN¥65.5m
FY2016FY2025
Free cash flow
−CN¥24.9m
FY2016FY2025
Shareholders' equity
CN¥596.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥306.8m | CN¥479.4m | CN¥343.1m | CN¥470.6m | CN¥507.3m | CN¥363.4m | CN¥235.4m | CN¥162.8m | CN¥123.0m | CN¥116.6m |
| Research and development | CN¥55.8m | CN¥62.6m | CN¥57.6m | CN¥67.9m | CN¥63.3m | CN¥38.9m | CN¥28.3m | CN¥20.0m | CN¥13.9m | — |
| Operating income | −CN¥63.5m | −CN¥17.5m | −CN¥48.1m | CN¥52.0m | CN¥110.3m | CN¥85.3m | CN¥35.0m | CN¥12.4m | CN¥25.1m | CN¥24.8m |
| Net income | −CN¥65.5m | −CN¥5.6m | −CN¥29.5m | CN¥52.0m | CN¥100.2m | CN¥75.7m | CN¥31.4m | CN¥12.7m | CN¥22.2m | CN¥27.8m |
| Diluted earnings per share | -0.60 | -0.09 | -0.26 | 0.46 | 0.91 | 0.94 | 0.29 | 0.12 | 0.39 | 0.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥963.0m | CN¥979.0m | CN¥999.2m | CN¥986.0m | CN¥952.0m | CN¥543.7m | CN¥404.9m | CN¥254.9m | CN¥201.3m | CN¥139.9m |
| Cash and short-term investments | — | CN¥331.5m | CN¥331.5m | CN¥333.1m | CN¥461.9m | CN¥229.2m | CN¥182.0m | CN¥103.2m | CN¥108.7m | CN¥40.7m |
| Total liabilities | CN¥358.7m | CN¥279.4m | CN¥295.7m | CN¥233.0m | CN¥219.7m | CN¥188.7m | CN¥130.7m | CN¥91.9m | CN¥58.3m | CN¥35.8m |
| Debt | CN¥33.1m | CN¥27.9m | CN¥23.6m | CN¥9.9m | CN¥6.8m | CN¥16.0m | CN¥10.8m | CN¥9.4m | — | — |
| Shareholders' equity | CN¥596.1m | CN¥691.9m | CN¥698.4m | CN¥744.2m | CN¥722.9m | CN¥346.8m | CN¥269.4m | CN¥158.9m | CN¥139.1m | CN¥98.1m |
| Shares outstanding | 110m | 63m | 113m | 113m | 111m | 80m | 110m | 110m | 57m | 57m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥17.4m | −CN¥11.3m | CN¥36.8m | −CN¥32.4m | CN¥4.5m | CN¥52.4m | −CN¥1.4m | CN¥15.2m | CN¥19.8m | CN¥6.6m |
| Capital spending | −CN¥7.5m | −CN¥9.3m | −CN¥16.2m | −CN¥38.2m | −CN¥26.0m | −CN¥27.7m | −CN¥7.8m | −CN¥21.8m | −CN¥3.3m | −CN¥1.6m |
| Free cash flow | −CN¥24.9m | −CN¥20.6m | CN¥20.6m | −CN¥70.5m | −CN¥21.5m | CN¥24.7m | −CN¥9.2m | −CN¥6.5m | CN¥16.5m | CN¥5.0m |
| Dividends paid | −CN¥1.1m | −CN¥234,523 | −CN¥16.4m | −CN¥30.1m | −CN¥563,288 | −CN¥119,742 | — | — | −CN¥10.0m | −CN¥7.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥81.7m | CN¥44.6m | CN¥112.1m | CN¥70.3m | CN¥86.3m | CN¥38.0m | CN¥181.3m | CN¥103.5m |
| Operating income | −CN¥8.2m | −CN¥14.8m | −CN¥13.0m | −CN¥26.6m | −CN¥4.7m | −CN¥20.0m | −CN¥12.3m | CN¥6.7m |
| Net income | −CN¥11.7m | −CN¥12.7m | −CN¥29.3m | −CN¥18.8m | −CN¥3.2m | −CN¥14.3m | −CN¥8.2m | CN¥7.2m |
| Diluted earnings per share | -0.11 | -0.12 | -0.27 | -0.17 | -0.03 | -0.13 | -0.13 | 0.11 |
| Cash from operations | — | — | — | −CN¥6.0m | −CN¥5.0m | −CN¥71.0m | CN¥91.0m | CN¥6.0m |
| Capital spending | — | −CN¥1.0m | — | −CN¥1.0m | −CN¥2.0m | −CN¥2.0m | −CN¥1.0m | −CN¥1.0m |
| Free cash flow | — | — | — | −CN¥7.0m | −CN¥7.0m | −CN¥73.0m | CN¥90.0m | CN¥5.0m |
| Total assets | CN¥889.3m | CN¥905.2m | CN¥963.0m | CN¥956.9m | CN¥991.4m | CN¥984.3m | CN¥979.0m | CN¥944.1m |
| Cash and short-term investments | — | — | — | CN¥240.4m | CN¥269.1m | CN¥282.0m | CN¥331.5m | CN¥238.6m |
| Debt | CN¥35.4m | CN¥35.1m | CN¥33.1m | CN¥48.9m | CN¥46.1m | CN¥40.2m | CN¥19.7m | CN¥16.1m |
| Shareholders' equity | CN¥559.4m | CN¥570.6m | CN¥596.1m | CN¥635.4m | CN¥671.5m | CN¥679.7m | CN¥691.9m | CN¥701.4m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -20.7% | -3.5% | -13.9% | 11.1% | 21.7% | 23.5% |
| Net margin | -21.4% | -1.2% | -8.6% | 11.1% | 19.8% | 20.8% |
| Return on equity | -11.0% | -0.8% | -4.2% | 7.0% | 13.9% | 21.8% |
| Return on assets | -6.8% | -0.6% | -3.0% | 5.3% | 10.5% | 13.9% |
| Free cash flow yield | -0.6% | -0.2% | 2.9% | 0.3% | 1.7% | 6.2% |
| Revenue growth | -36.0% | 39.7% | -27.1% | -7.2% | 39.6% | 54.3% |
| Earnings growth | 1062.6% | -80.9% | -156.7% | -48.1% | 32.4% | 141.0% |
| Current ratio | 2.38x | 2.95x | 2.90x | 3.77x | 4.13x | 2.97x |
| Debt to equity | 0.06x | 0.03x | 0.02x | 0.01x | 0.01x | 0.05x |
| Equity ratio | 61.9% | 70.7% | 69.9% | 75.5% | 75.9% | 63.8% |
| Interest coverage | -52.83x | -19.76x | -76.11x | 117.57x | 260.76x | 1133.85x |
| R&D as a share of sales | 18.2% | 13.1% | 16.8% | 14.4% | 12.5% | 10.7% |
| Buybacks as a share of market value | -74.2% | 44.2% | -0.1% | -2.0% | -37.3% | -41.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.3% | -3.3% | 14.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -10.3% | -4.8% | 4.8% | 7.4% |
| Net margin | -9.1% | -3.0% | 5.2% | 7.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -22.1 | -125.3 | -68.7 | 56.0 | 56.0 |
| Price to sales | 4.7 | 1.5 | 5.9 | 6.2 | 11.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Jun 2023.
| FY2023 | FY2022 | |
|---|---|---|
| Paid in the year | 0.15 | 0.28 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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