F 
9.73
-2.11%
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¥9.08bn
FY2016FY2025
Net income
−CN¥767.4m
FY2016FY2025
Free cash flow
CN¥1.24bn
FY2016FY2025
Shareholders' equity
CN¥9.62bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.08bn | CN¥11.68bn | CN¥16.44bn | CN¥11.59bn | CN¥3.50bn | CN¥1.12bn | CN¥2.45bn | CN¥2.28bn | CN¥1.34bn | CN¥468.5m |
| Research and development | CN¥631.1m | CN¥581.9m | CN¥749.3m | CN¥598.4m | CN¥541.5m | CN¥371.9m | CN¥270.8m | CN¥112.7m | CN¥47.4m | CN¥26.7m |
| Operating income | −CN¥719.8m | −CN¥206.6m | −CN¥2.14bn | −CN¥1.15bn | −CN¥1.12bn | −CN¥412.8m | CN¥138.2m | −CN¥109.2m | CN¥19.3m | CN¥686,729 |
| Net income | −CN¥767.4m | −CN¥332.1m | −CN¥1.87bn | −CN¥927.0m | −CN¥952.7m | −CN¥331.0m | CN¥131.2m | −CN¥78.2m | CN¥18.3m | CN¥7.3m |
| Diluted earnings per share | -0.61 | -0.26 | -1.53 | -0.84 | -0.91 | -0.32 | 0.23 | -0.06 | 0.01 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥22.80bn | CN¥26.63bn | CN¥30.14bn | CN¥32.13bn | CN¥20.94bn | CN¥15.42bn | CN¥11.70bn | CN¥8.85bn | CN¥2.15bn | CN¥1.33bn |
| Cash and short-term investments | CN¥4.88bn | CN¥6.26bn | CN¥11.46bn | CN¥11.44bn | CN¥5.58bn | CN¥5.84bn | CN¥4.61bn | CN¥5.33bn | CN¥222.1m | CN¥328.0m |
| Total liabilities | −CN¥9.62bn | CN¥16.72bn | CN¥19.76bn | CN¥20.11bn | CN¥11.66bn | CN¥5.34bn | CN¥4.60bn | CN¥2.22bn | CN¥1.74bn | CN¥1.01bn |
| Debt | CN¥587.6m | CN¥2.68bn | CN¥4.36bn | CN¥4.86bn | CN¥2.74bn | CN¥1.73bn | CN¥624.0m | CN¥304.5m | CN¥617.6m | CN¥440.0m |
| Shareholders' equity | CN¥9.62bn | CN¥9.91bn | CN¥10.38bn | CN¥12.02bn | CN¥9.27bn | CN¥10.08bn | CN¥7.10bn | CN¥6.63bn | CN¥405.3m | CN¥313.5m |
| Shares outstanding | 1,258m | 1,274m | 1,219m | 1,105m | 1,050m | 1,035m | 563m | 1,258m | 1,258m | 1,258m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.72bn | CN¥908.8m | CN¥664.0m | −CN¥1.75bn | CN¥233.2m | −CN¥943.9m | CN¥483.5m | −CN¥437.6m | −CN¥147.9m | −CN¥38.1m |
| Capital spending | −CN¥479.2m | −CN¥1.56bn | −CN¥1.07bn | −CN¥1.87bn | −CN¥2.33bn | −CN¥2.14bn | −CN¥1.82bn | −CN¥406.2m | −CN¥193.8m | −CN¥341.9m |
| Free cash flow | CN¥1.24bn | −CN¥648.8m | −CN¥409.3m | −CN¥3.61bn | −CN¥2.10bn | −CN¥3.08bn | −CN¥1.33bn | −CN¥843.8m | −CN¥341.6m | −CN¥380.0m |
| Dividends paid | −CN¥85.7m | −CN¥107.0m | −CN¥201.0m | −CN¥189.7m | −CN¥93.8m | −CN¥16.2m | −CN¥24.9m | −CN¥29.6m | −CN¥32.8m | −CN¥8.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.95bn | CN¥1.67bn | CN¥2.52bn | CN¥2.21bn | CN¥2.03bn | CN¥2.33bn | CN¥2.47bn | CN¥2.24bn |
| Operating income | −CN¥242.9m | −CN¥55.5m | −CN¥526.0m | −CN¥243.1m | CN¥118.2m | −CN¥176.8m | CN¥31.1m | −CN¥154.2m |
| Net income | −CN¥256.7m | −CN¥140.2m | −CN¥381.9m | −CN¥223.5m | −CN¥9.5m | −CN¥152.5m | −CN¥28.3m | −CN¥113.4m |
| Diluted earnings per share | -0.20 | -0.11 | -0.30 | -0.18 | -0.01 | -0.12 | -0.02 | -0.09 |
| Cash from operations | — | — | — | CN¥348.0m | CN¥251.0m | −CN¥126.0m | — | CN¥855.0m |
| Capital spending | −CN¥167.0m | −CN¥126.0m | −CN¥303.0m | −CN¥35.0m | −CN¥43.0m | −CN¥183.0m | −CN¥288.0m | −CN¥254.0m |
| Free cash flow | — | — | — | CN¥313.0m | CN¥208.0m | −CN¥309.0m | — | CN¥601.0m |
| Total assets | CN¥21.52bn | CN¥21.80bn | CN¥22.80bn | CN¥24.52bn | CN¥25.69bn | CN¥26.66bn | CN¥26.63bn | CN¥25.14bn |
| Cash and short-term investments | — | — | CN¥4.88bn | CN¥4.88bn | CN¥5.52bn | CN¥6.45bn | CN¥6.26bn | CN¥7.39bn |
| Debt | CN¥1.30bn | CN¥1.09bn | CN¥587.6m | CN¥6.84bn | CN¥2.78bn | CN¥2.64bn | CN¥2.68bn | CN¥2.11bn |
| Shareholders' equity | CN¥8.90bn | CN¥9.13bn | CN¥9.62bn | CN¥9.62bn | CN¥9.84bn | CN¥9.77bn | CN¥9.91bn | CN¥10.09bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -7.9% | -1.8% | -13.0% | -9.9% | -32.0% | -36.9% |
| Net margin | -8.4% | -2.8% | -11.4% | -8.0% | -27.2% | -29.6% |
| Return on equity | -8.0% | -3.4% | -18.0% | -7.7% | -10.3% | -3.3% |
| Return on assets | -3.4% | -1.2% | -6.2% | -2.9% | -4.6% | -2.1% |
| Free cash flow yield | 19.3% | 21.3% | 15.7% | 1.2% | 26.9% | 12.7% |
| Revenue growth | -22.2% | -28.9% | 41.8% | 231.1% | 212.6% | -54.3% |
| Earnings growth | 131.1% | -82.2% | 101.5% | -2.7% | 187.8% | -352.2% |
| Current ratio | 1.12x | 1.14x | 1.28x | 1.26x | 1.32x | 2.95x |
| Debt to equity | 0.06x | 0.27x | 0.42x | 0.36x | 0.29x | 0.17x |
| Equity ratio | 42.2% | 37.2% | 34.4% | 37.4% | 44.3% | 65.4% |
| Interest coverage | -2.69x | -0.56x | -6.93x | -5.82x | -14.11x | -19.03x |
| R&D as a share of sales | 6.9% | 5.0% | 4.6% | 5.2% | 15.5% | 33.2% |
| Buybacks as a share of market value | 1.2% | -4.5% | -10.3% | -5.3% | -1.4% | -84.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.8% | 52.0% | — |
| Operating income | -14.5% | 11.8% | — |
| Net income | -6.1% | 18.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -25.7 | -44.5 | -10.7 | -32.2 | -37.1 | -143.1 |
| Price to sales | 2.2 | 1.3 | 1.2 | 2.6 | 10.1 | 42.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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