Z 
19.05
+3.03%
Close of 9 Nov 2026, in CNY
Search any instrument
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¥959.0m
FY2016FY2025
Net income
−CN¥563.6m
FY2016FY2025
Free cash flow
−CN¥501.6m
FY2016FY2025
Shareholders' equity
CN¥5.99bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥959.0m | CN¥827.9m | CN¥820.2m | CN¥8.77bn | CN¥10.17bn | CN¥3.27bn | CN¥367.4m | CN¥285.9m | CN¥224.2m | CN¥182.3m |
| Research and development | CN¥230.8m | CN¥290.5m | CN¥260.9m | CN¥511.6m | CN¥428.5m | CN¥93.7m | CN¥31.8m | CN¥18.6m | CN¥12.3m | CN¥9.3m |
| Operating income | −CN¥575.8m | −CN¥578.8m | −CN¥383.8m | CN¥2.53bn | CN¥5.78bn | CN¥1.97bn | CN¥93.4m | CN¥79.2m | CN¥49.6m | CN¥41.2m |
| Net income | −CN¥563.6m | −CN¥529.0m | −CN¥397.6m | CN¥2.07bn | CN¥4.92bn | CN¥1.68bn | CN¥82.1m | CN¥65.4m | CN¥32.7m | CN¥35.6m |
| Diluted earnings per share | -2.97 | -2.77 | -1.95 | 10.27 | 24.40 | 9.07 | 0.53 | 0.44 | 0.17 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.14bn | CN¥8.09bn | CN¥9.00bn | CN¥10.70bn | CN¥8.98bn | CN¥3.57bn | CN¥361.5m | CN¥337.6m | CN¥259.3m | CN¥241.0m |
| Cash and short-term investments | — | CN¥3.29bn | CN¥5.22bn | CN¥7.76bn | CN¥6.27bn | CN¥2.24bn | CN¥85.4m | CN¥102.6m | CN¥77.9m | CN¥80.8m |
| Total liabilities | CN¥1.05bn | CN¥1.30bn | CN¥1.45bn | CN¥2.38bn | CN¥2.09bn | CN¥1.12bn | CN¥107.4m | CN¥129.6m | CN¥121.2m | CN¥142.3m |
| Debt | CN¥159.0m | CN¥163.9m | CN¥608.3m | CN¥82.2m | CN¥18.5m | CN¥5.2m | CN¥27.0m | CN¥50.0m | CN¥56.0m | CN¥76.0m |
| Shareholders' equity | CN¥5.99bn | CN¥6.65bn | CN¥7.44bn | CN¥8.16bn | CN¥6.86bn | CN¥2.45bn | CN¥251.7m | CN¥201.0m | CN¥133.5m | CN¥98.7m |
| Shares outstanding | 190m | 191m | 204m | 201m | 202m | 185m | 154m | 149m | 190m | 190m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥193.9m | −CN¥348.3m | −CN¥1.60bn | CN¥3.00bn | CN¥5.20bn | CN¥1.79bn | CN¥54.2m | CN¥44.3m | CN¥33.5m | CN¥11.8m |
| Capital spending | −CN¥307.7m | −CN¥924.1m | −CN¥996.0m | −CN¥1.05bn | −CN¥507.9m | −CN¥126.9m | −CN¥11.9m | −CN¥18.9m | −CN¥13.4m | −CN¥4.7m |
| Free cash flow | −CN¥501.6m | −CN¥1.27bn | −CN¥2.60bn | CN¥1.94bn | CN¥4.70bn | CN¥1.66bn | CN¥42.3m | CN¥25.4m | CN¥20.2m | CN¥7.2m |
| Dividends paid | −CN¥6.7m | −CN¥16.6m | −CN¥351.1m | −CN¥742.0m | −CN¥504.7m | −CN¥25.3m | −CN¥33.2m | −CN¥3.7m | −CN¥3.9m | −CN¥6.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥207.9m | CN¥256.3m | CN¥287.2m | CN¥268.7m | CN¥211.1m | CN¥192.0m | CN¥170.3m | CN¥239.4m |
| Operating income | −CN¥94.5m | −CN¥70.3m | −CN¥337.9m | −CN¥55.3m | −CN¥55.5m | −CN¥123.5m | −CN¥296.3m | −CN¥122.8m |
| Net income | −CN¥128.4m | −CN¥93.8m | −CN¥351.0m | −CN¥49.5m | −CN¥47.6m | −CN¥115.5m | −CN¥266.9m | −CN¥110.5m |
| Diluted earnings per share | -0.68 | -0.50 | -1.85 | -0.26 | -0.25 | -0.61 | -1.40 | -0.58 |
| Cash from operations | — | — | — | −CN¥30.0m | −CN¥68.0m | −CN¥53.0m | — | −CN¥12.0m |
| Capital spending | −CN¥54.0m | −CN¥132.0m | −CN¥37.0m | −CN¥62.0m | −CN¥54.0m | −CN¥152.0m | −CN¥422.0m | −CN¥117.0m |
| Free cash flow | — | — | — | −CN¥92.0m | −CN¥122.0m | −CN¥205.0m | — | −CN¥129.0m |
| Total assets | CN¥6.89bn | CN¥6.89bn | CN¥7.14bn | CN¥7.51bn | CN¥7.61bn | CN¥7.76bn | CN¥8.09bn | CN¥8.23bn |
| Cash and short-term investments | — | — | — | CN¥2.64bn | CN¥2.82bn | CN¥2.93bn | CN¥3.29bn | CN¥3.71bn |
| Debt | CN¥104.3m | CN¥45.0m | CN¥159.0m | CN¥122.0m | CN¥282.1m | CN¥292.7m | CN¥116.8m | CN¥186.7m |
| Shareholders' equity | CN¥5.75bn | CN¥5.89bn | CN¥5.99bn | CN¥6.36bn | CN¥6.46bn | CN¥6.52bn | CN¥6.65bn | CN¥6.88bn |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -60.2% | -68.2% | -47.1% | 28.3% | 56.7% | 60.5% |
| Net margin | -58.8% | -63.9% | -48.5% | 23.6% | 48.4% | 51.4% |
| Return on equity | -9.4% | -8.0% | -5.3% | 25.3% | 71.8% | 68.6% |
| Return on assets | -7.9% | -6.5% | -4.4% | 19.3% | 54.8% | 46.9% |
| Free cash flow yield | 3.3% | 16.6% | -16.4% | 110.8% | 156.2% | 57.2% |
| Revenue growth | 15.8% | 0.9% | -90.6% | -13.8% | 211.4% | 788.8% |
| Earnings growth | 6.5% | 33.1% | -119.2% | -58.0% | 193.3% | 1942.9% |
| Current ratio | 3.91x | 3.31x | 5.43x | 3.84x | 3.95x | 2.98x |
| Debt to equity | 0.03x | 0.02x | 0.07x | 0.01x | 0.00x | 0.00x |
| Equity ratio | 83.9% | 82.1% | 82.7% | 76.3% | 76.4% | 68.5% |
| Interest coverage | -58.24x | -27.44x | -20.05x | 282.23x | 2417.29x | 1666.03x |
| R&D as a share of sales | 24.1% | 35.1% | 31.8% | 5.8% | 4.2% | 2.9% |
| Buybacks as a share of market value | 0.7% | 6.5% | -1.4% | 0.1% | -9.1% | -20.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -52.4% | -21.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -7.9 | -10.6 | -18.4 | 6.3 | 5.6 | 13.3 |
| Price to sales | 4.7 | 6.9 | 9.1 | 1.5 | 2.7 | 6.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|
| Paid in the year | 2.00 | 5.15 | 2.50 | 0.125 |
- 6-for-5 split · 26 Jun 2023
- 7-for-5 split · 16 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.