Z 
3.80
-0.26%
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¥587.3m
FY2017FY2025
Net income
−CN¥170.3m
FY2017FY2025
Free cash flow
−CN¥11.9m
FY2017FY2025
Shareholders' equity
CN¥1.14bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥587.3m | CN¥661.1m | CN¥893.0m | CN¥1.32bn | CN¥1.57bn | CN¥1.68bn | CN¥1.94bn | CN¥1.65bn | CN¥1.60bn |
| Research and development | CN¥51.2m | CN¥58.0m | CN¥63.4m | CN¥78.6m | CN¥80.4m | CN¥79.6m | CN¥75.5m | CN¥54.3m | CN¥51.8m |
| Operating income | −CN¥179.3m | −CN¥182.3m | −CN¥31.3m | CN¥48.8m | CN¥75.4m | CN¥110.2m | CN¥130.3m | CN¥115.3m | CN¥76.9m |
| Net income | −CN¥170.3m | −CN¥173.5m | −CN¥33.4m | CN¥28.6m | CN¥48.8m | CN¥64.2m | CN¥82.5m | CN¥97.0m | CN¥76.7m |
| Diluted earnings per share | -0.24 | -0.24 | -0.04 | 0.04 | 0.13 | 0.11 | 0.11 | 0.13 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.10bn | CN¥3.44bn | CN¥3.59bn | CN¥3.97bn | CN¥3.97bn | CN¥3.50bn | CN¥3.31bn | CN¥2.76bn | CN¥2.53bn |
| Cash and short-term investments | — | CN¥277.4m | CN¥460.1m | CN¥493.3m | CN¥654.0m | CN¥408.4m | CN¥395.3m | CN¥486.1m | CN¥518.1m |
| Total liabilities | CN¥1.88bn | CN¥2.00bn | CN¥1.98bn | CN¥2.24bn | CN¥2.27bn | CN¥2.15bn | CN¥2.01bn | CN¥1.54bn | CN¥1.54bn |
| Debt | CN¥130.4m | CN¥706.0m | CN¥688.8m | CN¥721.1m | CN¥751.7m | CN¥728.5m | CN¥657.0m | CN¥450.0m | CN¥350.0m |
| Shareholders' equity | CN¥1.14bn | CN¥1.31bn | CN¥1.48bn | CN¥1.52bn | CN¥1.51bn | CN¥1.18bn | CN¥1.13bn | CN¥1.07bn | CN¥907.9m |
| Shares outstanding | 720m | 724m | 867m | 766m | 373m | 600m | 770m | 720m | 720m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥623,322 | −CN¥184.6m | CN¥15.2m | −CN¥67.0m | CN¥33.0m | CN¥28.6m | −CN¥252.4m | −CN¥196.4m | CN¥52.8m |
| Capital spending | −CN¥12.5m | −CN¥23.3m | −CN¥17.8m | −CN¥20.5m | −CN¥27.0m | −CN¥34.7m | −CN¥35.3m | −CN¥24.7m | −CN¥24.9m |
| Free cash flow | −CN¥11.9m | −CN¥207.9m | −CN¥2.7m | −CN¥87.5m | CN¥6.0m | −CN¥6.1m | −CN¥287.6m | −CN¥221.1m | CN¥27.9m |
| Dividends paid | −CN¥23.1m | −CN¥26.0m | −CN¥32.4m | −CN¥9.2m | −CN¥12.3m | −CN¥14.7m | −CN¥31.1m | −CN¥32.6m | −CN¥32.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥125.4m | CN¥100.6m | CN¥230.2m | CN¥75.9m | CN¥140.8m | CN¥140.5m | CN¥265.0m | CN¥103.5m |
| Operating income | −CN¥19.9m | −CN¥40.1m | −CN¥110.1m | −CN¥12.4m | −CN¥28.8m | −CN¥28.1m | −CN¥100.4m | −CN¥11.8m |
| Net income | −CN¥43.9m | −CN¥32.5m | −CN¥107.3m | −CN¥14.8m | −CN¥21.9m | −CN¥26.2m | −CN¥95.0m | −CN¥18.9m |
| Diluted earnings per share | -0.06 | -0.05 | -0.15 | -0.02 | -0.03 | -0.04 | -0.13 | -0.03 |
| Cash from operations | — | — | — | CN¥7.0m | −CN¥29.0m | −CN¥93.0m | — | −CN¥55.0m |
| Capital spending | — | −CN¥1.0m | −CN¥9.0m | −CN¥1.0m | — | — | −CN¥1.0m | — |
| Free cash flow | — | — | — | CN¥6.0m | — | — | — | — |
| Total assets | CN¥3.04bn | CN¥3.10bn | CN¥3.10bn | CN¥3.21bn | CN¥3.26bn | CN¥3.29bn | CN¥3.44bn | CN¥3.42bn |
| Cash and short-term investments | — | — | — | CN¥126.2m | CN¥89.8m | CN¥159.8m | CN¥277.4m | CN¥202.4m |
| Debt | CN¥153.8m | CN¥154.4m | CN¥130.4m | CN¥601.5m | CN¥683.6m | CN¥707.4m | CN¥700.2m | CN¥680.4m |
| Shareholders' equity | CN¥1.06bn | CN¥1.10bn | CN¥1.14bn | CN¥1.24bn | CN¥1.26bn | CN¥1.28bn | CN¥1.31bn | CN¥1.40bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -30.3% | -23.1% | -0.2% | 6.4% | 7.5% | 6.6% |
| Net margin | -29.0% | -26.2% | -3.7% | 2.2% | 3.1% | 3.8% |
| Return on equity | -15.0% | -13.3% | -2.3% | 1.9% | 3.2% | 5.4% |
| Return on assets | -5.5% | -5.0% | -0.9% | 0.7% | 1.2% | 1.8% |
| Free cash flow yield | 0.5% | -5.6% | 1.0% | -1.5% | 4.0% | 2.6% |
| Revenue growth | -11.2% | -26.0% | -32.2% | -16.0% | -6.5% | -13.4% |
| Earnings growth | -1.9% | 419.2% | -216.8% | -41.4% | -23.9% | -22.2% |
| Current ratio | 1.42x | 1.48x | 1.56x | 1.48x | 1.45x | 1.36x |
| Debt to equity | 0.11x | 0.54x | 0.47x | 0.47x | 0.49x | 0.62x |
| Equity ratio | 36.6% | 38.0% | 41.1% | 38.3% | 37.9% | 33.7% |
| Interest coverage | -7.39x | -5.70x | -0.05x | 2.67x | 3.62x | 4.10x |
| R&D as a share of sales | 8.7% | 8.8% | 7.1% | 6.0% | 5.1% | 4.8% |
| Buybacks as a share of market value | 0.6% | 16.5% | -13.2% | -105.3% | 37.8% | 22.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -23.6% | -18.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -23.2 | -16.6 | -125.4 | 108.2 | 48.0 |
| Price to sales | 6.7 | 4.3 | 4.7 | 2.4 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Aug 2023.
| FY2023 | FY2022 | FY2021 | |
|---|---|---|---|
| Paid in the year | 0.007 | 0.012 | 0.016 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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