Q 
47.19
-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¥232.9m
FY2017FY2025
Net income
−CN¥60.7m
FY2017FY2025
Free cash flow
−CN¥27.8m
FY2017FY2025
Shareholders' equity
CN¥21.5m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥232.9m | CN¥272.1m | CN¥335.7m | CN¥305.0m | CN¥423.8m | CN¥428.6m | CN¥376.8m | CN¥281.8m | CN¥239.2m |
| Research and development | CN¥50.0m | CN¥66.2m | CN¥84.0m | CN¥125.7m | CN¥134.8m | CN¥75.6m | CN¥69.5m | CN¥64.3m | CN¥30.7m |
| Operating income | −CN¥59.9m | −CN¥84.8m | −CN¥165.6m | −CN¥240.1m | −CN¥291.5m | −CN¥166.9m | −CN¥192.9m | −CN¥149.5m | −CN¥96.6m |
| Net income | −CN¥60.7m | −CN¥95.8m | −CN¥170.1m | −CN¥244.2m | −CN¥282.8m | −CN¥163.4m | −CN¥190.1m | −CN¥149.5m | −CN¥96.5m |
| Diluted earnings per share | -1.26 | -2.00 | -3.57 | -5.18 | -6.50 | -4.62 | -5.36 | -3.10 | -2.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥343.7m | CN¥577.1m | CN¥624.3m | CN¥600.3m | CN¥922.8m | CN¥375.6m | CN¥442.1m | CN¥1.23bn | CN¥1.32bn |
| Cash and short-term investments | — | CN¥238.3m | CN¥227.0m | CN¥253.6m | CN¥466.0m | CN¥92.3m | CN¥141.4m | CN¥934.6m | CN¥752.8m |
| Total liabilities | CN¥320.9m | CN¥489.7m | CN¥444.6m | CN¥270.3m | CN¥340.4m | CN¥199.0m | CN¥131.3m | CN¥1.75bn | CN¥1.98bn |
| Debt | CN¥11.7m | CN¥248.5m | CN¥190.3m | CN¥149.7m | CN¥200.0m | CN¥62.8m | CN¥4.0m | — | — |
| Shareholders' equity | CN¥21.5m | CN¥87.1m | CN¥179.5m | CN¥329.4m | CN¥586.1m | CN¥179.0m | CN¥311.7m | −CN¥528.2m | −CN¥658.3m |
| Shares outstanding | 48m | 48m | 48m | 47m | 44m | 35m | 35m | 48m | 48m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥21.5m | −CN¥34.5m | −CN¥108.4m | −CN¥168.0m | −CN¥204.1m | −CN¥54.1m | −CN¥87.0m | −CN¥62.4m | CN¥10.5m |
| Capital spending | −CN¥6.3m | −CN¥112.9m | −CN¥6.1m | −CN¥17.3m | −CN¥102.8m | −CN¥31.6m | −CN¥63.0m | −CN¥68.7m | −CN¥93.7m |
| Free cash flow | −CN¥27.8m | −CN¥147.4m | −CN¥114.5m | −CN¥185.3m | −CN¥306.8m | −CN¥85.7m | −CN¥150.0m | −CN¥131.1m | −CN¥83.2m |
| Dividends paid | −CN¥6.3m | −CN¥7.5m | −CN¥5.6m | −CN¥3.8m | −CN¥2.8m | −CN¥2.1m | −CN¥115,383 | — | −CN¥98,667 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥39.8m | CN¥47.6m | CN¥68.0m | CN¥64.8m | CN¥53.1m | CN¥47.0m | CN¥58.4m | CN¥69.5m |
| Operating income | −CN¥18.9m | −CN¥11.5m | −CN¥19.3m | −CN¥8.2m | −CN¥14.9m | −CN¥20.2m | −CN¥29.6m | −CN¥24.1m |
| Net income | −CN¥20.8m | −CN¥13.7m | −CN¥10.7m | −CN¥8.4m | −CN¥18.7m | −CN¥22.9m | −CN¥33.0m | −CN¥25.1m |
| Diluted earnings per share | -0.43 | -0.28 | -0.22 | -0.17 | -0.39 | -0.47 | -0.69 | -0.53 |
| Cash from operations | — | — | — | −CN¥10.0m | CN¥6.0m | −CN¥33.0m | — | −CN¥31.0m |
| Capital spending | — | — | −CN¥3.0m | — | −CN¥3.0m | — | — | −CN¥23.0m |
| Free cash flow | — | — | — | — | CN¥3.0m | — | — | −CN¥54.0m |
| Total assets | CN¥337.5m | CN¥376.8m | CN¥343.7m | CN¥392.6m | CN¥452.7m | CN¥475.0m | CN¥577.1m | CN¥575.7m |
| Cash and short-term investments | — | — | — | CN¥61.6m | CN¥129.8m | CN¥139.5m | CN¥238.3m | CN¥197.2m |
| Debt | CN¥20.3m | CN¥2.8m | CN¥11.7m | CN¥161.0m | CN¥211.3m | CN¥194.6m | CN¥248.1m | CN¥264.7m |
| Shareholders' equity | CN¥31.2m | CN¥53.1m | CN¥21.5m | CN¥38.2m | CN¥43.6m | CN¥64.1m | CN¥87.1m | CN¥119.3m |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -25.7% | -30.9% | -49.0% | -78.1% | -66.3% | -38.0% |
| Net margin | -26.0% | -35.2% | -50.7% | -80.1% | -66.7% | -38.1% |
| Return on equity | -282.0% | -109.9% | -94.8% | -74.2% | -48.2% | -91.3% |
| Return on assets | -17.6% | -16.6% | -27.2% | -40.7% | -30.6% | -43.5% |
| Free cash flow yield | -0.8% | 4.2% | -5.4% | -8.1% | -5.9% | -1.6% |
| Revenue growth | -14.4% | -19.0% | 10.1% | -28.0% | -1.1% | 13.7% |
| Earnings growth | -36.7% | -43.7% | -30.4% | -13.6% | 73.1% | -14.1% |
| Current ratio | 0.52x | 0.80x | 1.11x | 1.43x | 2.08x | 1.12x |
| Debt to equity | 0.54x | 2.85x | 0.96x | 0.40x | 0.28x | 0.35x |
| Equity ratio | 6.3% | 15.1% | 28.7% | 54.9% | 63.5% | 47.7% |
| Interest coverage | -5.42x | -7.18x | -28.60x | -37.95x | -71.56x | -81.65x |
| R&D as a share of sales | 21.5% | 24.3% | 25.0% | 41.2% | 31.8% | 17.6% |
| Buybacks as a share of market value | -0.9% | -0.3% | -1.0% | -8.4% | -23.2% | 0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.6% | -11.5% | — |
| Operating income | -37.0% | -18.5% | — |
| Net income | -37.1% | -18.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -47.8 | -16.7 | -14.5 | -5.5 | -7.7 |
| Price to sales | 12.5 | 5.9 | 7.3 | 4.4 | 5.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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