P 
41.64
-8.80%
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¥3.99bn
FY2016FY2025
Net income
−CN¥118.6m
FY2016FY2025
Free cash flow
CN¥111.7m
FY2016FY2025
Shareholders' equity
CN¥1.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.99bn | CN¥4.08bn | CN¥3.69bn | CN¥3.91bn | CN¥2.54bn | CN¥1.92bn | CN¥1.47bn | CN¥1.07bn | CN¥880.4m | CN¥731.5m |
| Research and development | CN¥144.3m | CN¥138.8m | CN¥128.7m | CN¥128.2m | CN¥97.5m | CN¥59.7m | CN¥45.4m | CN¥33.6m | CN¥25.9m | CN¥23.9m |
| Operating income | −CN¥112.0m | −CN¥132.5m | CN¥111.6m | CN¥119.1m | CN¥99.4m | CN¥243.0m | CN¥136.6m | CN¥48.7m | CN¥45.8m | CN¥46.8m |
| Net income | −CN¥118.6m | −CN¥236.1m | CN¥28.6m | CN¥44.6m | CN¥83.1m | CN¥158.8m | CN¥99.0m | CN¥43.9m | CN¥39.2m | CN¥47.6m |
| Diluted earnings per share | -0.86 | -1.79 | 0.25 | 0.37 | 0.68 | 1.74 | 1.09 | 0.32 | 0.47 | 0.64 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.18bn | CN¥5.11bn | CN¥4.89bn | CN¥4.08bn | CN¥3.59bn | CN¥1.68bn | CN¥1.27bn | CN¥1.00bn | CN¥633.7m | CN¥501.9m |
| Cash and short-term investments | — | CN¥161.7m | CN¥263.4m | CN¥351.4m | CN¥572.9m | CN¥170.7m | CN¥145.8m | CN¥106.4m | CN¥118.5m | CN¥109.6m |
| Total liabilities | CN¥3.82bn | CN¥3.62bn | CN¥3.14bn | CN¥2.36bn | CN¥1.91bn | CN¥933.3m | CN¥704.5m | CN¥579.9m | CN¥292.1m | CN¥212.8m |
| Debt | CN¥730.2m | CN¥1.65bn | CN¥1.70bn | CN¥1.26bn | CN¥971.8m | CN¥519.9m | CN¥279.5m | CN¥180.8m | CN¥120.3m | CN¥76.2m |
| Shareholders' equity | CN¥1.15bn | CN¥1.30bn | CN¥1.57bn | CN¥1.55bn | CN¥1.50bn | CN¥653.1m | CN¥509.4m | CN¥393.2m | CN¥327.8m | CN¥289.3m |
| Shares outstanding | 138m | 132m | 113m | 122m | 122m | 91m | 91m | 138m | 83m | 75m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥289.2m | CN¥568.1m | CN¥246.2m | CN¥87.1m | CN¥42.4m | CN¥66.3m | CN¥63.1m | −CN¥18.8m | CN¥37.0m | CN¥51.0m |
| Capital spending | −CN¥177.5m | −CN¥422.8m | −CN¥495.3m | −CN¥425.4m | −CN¥419.6m | −CN¥210.8m | −CN¥58.6m | −CN¥84.5m | −CN¥83.6m | −CN¥47.7m |
| Free cash flow | CN¥111.7m | CN¥145.3m | −CN¥249.1m | −CN¥338.3m | −CN¥377.2m | −CN¥144.5m | CN¥4.5m | −CN¥103.4m | −CN¥46.6m | CN¥3.2m |
| Dividends paid | −CN¥117.0m | −CN¥128.7m | −CN¥77.5m | −CN¥13.1m | −CN¥18.7m | −CN¥14.0m | −CN¥22.6m | −CN¥11.3m | −CN¥4.3m | −CN¥18.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥901.7m | CN¥780.8m | CN¥1.03bn | CN¥986.6m | CN¥868.1m | CN¥1.11bn | CN¥887.9m | CN¥994.6m |
| Operating income | −CN¥2.6m | −CN¥23.7m | −CN¥123.8m | CN¥572,745 | CN¥23.9m | CN¥38.0m | −CN¥186.2m | −CN¥6.4m |
| Net income | −CN¥45.0m | −CN¥59.8m | −CN¥124.4m | CN¥2.9m | −CN¥5.5m | CN¥8.4m | −CN¥226.8m | −CN¥11.0m |
| Diluted earnings per share | -0.33 | -0.43 | -0.90 | 0.02 | -0.04 | 0.06 | -1.71 | -0.08 |
| Cash from operations | — | — | — | CN¥44.0m | CN¥87.0m | CN¥38.0m | — | CN¥47.0m |
| Capital spending | −CN¥9.0m | −CN¥24.0m | −CN¥14.0m | −CN¥42.0m | −CN¥44.0m | −CN¥76.0m | −CN¥100.0m | −CN¥91.0m |
| Free cash flow | — | — | — | CN¥2.0m | CN¥43.0m | −CN¥38.0m | — | −CN¥44.0m |
| Total assets | CN¥5.22bn | CN¥5.18bn | CN¥5.18bn | CN¥5.39bn | CN¥5.41bn | CN¥4.97bn | CN¥5.11bn | CN¥5.32bn |
| Cash and short-term investments | — | — | — | CN¥184.3m | CN¥266.9m | CN¥233.7m | CN¥161.7m | CN¥299.6m |
| Debt | CN¥787.1m | CN¥802.5m | CN¥730.2m | CN¥1.52bn | CN¥1.86bn | CN¥1.74bn | CN¥1.61bn | CN¥1.81bn |
| Shareholders' equity | CN¥1.04bn | CN¥1.09bn | CN¥1.15bn | CN¥1.31bn | CN¥1.31bn | CN¥1.31bn | CN¥1.30bn | CN¥1.53bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -2.8% | -3.2% | 3.3% | 3.5% | 5.7% | 13.8% |
| Net margin | -3.0% | -5.8% | 0.8% | 1.1% | 3.3% | 8.2% |
| Return on equity | -10.3% | -18.1% | 1.8% | 2.9% | 5.6% | 24.3% |
| Return on assets | -2.3% | -4.6% | 0.6% | 1.1% | 2.3% | 9.5% |
| Free cash flow yield | 5.7% | 12.6% | 11.1% | 7.1% | 6.4% | 5.1% |
| Revenue growth | -2.1% | 10.7% | -5.6% | 53.7% | 32.1% | 30.5% |
| Earnings growth | -49.8% | -926.3% | -36.0% | -46.3% | -47.7% | 60.3% |
| Current ratio | 0.81x | 0.92x | 1.13x | 1.19x | 1.39x | 1.40x |
| Debt to equity | 0.64x | 1.23x | 1.06x | 0.71x | 0.53x | 0.69x |
| Equity ratio | 22.2% | 25.5% | 32.0% | 37.9% | 41.7% | 38.9% |
| Interest coverage | -0.99x | -1.18x | 1.45x | 1.84x | 3.32x | 9.38x |
| R&D as a share of sales | 3.6% | 3.4% | 3.5% | 3.3% | 3.8% | 3.1% |
| Buybacks as a share of market value | -4.3% | -17.1% | 7.3% | 0.4% | -34.5% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | 15.7% | 18.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -3.0% | -0.1% | 1.6% | 2.5% |
| Net margin | -4.4% | -1.8% | -0.2% | 0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -27.0 | -8.7 | 74.0 | 45.0 | 53.2 |
| Price to sales | 0.8 | 0.5 | 0.6 | 0.5 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.20 | 0.10 | 0.108 | 0.154 |
- 13-for-10 split · 7 Jun 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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