S 
35.02
-1.93%
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¥1.16bn
FY2016FY2025
Net income
−CN¥480.8m
FY2016FY2025
Free cash flow
CN¥140.1m
FY2016FY2025
Shareholders' equity
CN¥1.12bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.16bn | CN¥2.59bn | CN¥4.87bn | CN¥5.31bn | CN¥3.11bn | CN¥1.48bn | CN¥1.06bn | CN¥715.4m | CN¥643.8m | CN¥575.3m |
| Gross profit | −CN¥432.0m | −CN¥131.6m | −CN¥39.4m | CN¥326.5m | CN¥450.1m | CN¥356.9m | CN¥158.5m | CN¥99.4m | CN¥101.4m | CN¥107.4m |
| Research and development | CN¥69.8m | CN¥118.0m | CN¥139.3m | CN¥154.3m | CN¥131.0m | CN¥65.5m | CN¥38.7m | CN¥25.3m | CN¥24.4m | — |
| Operating income | −CN¥438.5m | −CN¥463.0m | −CN¥220.0m | CN¥33.1m | CN¥276.6m | CN¥254.2m | CN¥70.6m | CN¥27.7m | CN¥39.5m | CN¥41.2m |
| Net income | −CN¥480.8m | −CN¥558.4m | −CN¥228.6m | CN¥50.1m | CN¥252.2m | CN¥223.2m | CN¥66.9m | CN¥27.6m | CN¥35.3m | CN¥41.9m |
| Diluted earnings per share | -5.81 | -6.70 | -2.73 | 0.61 | 3.01 | 3.55 | 1.08 | 0.43 | 0.57 | 0.81 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.55bn | CN¥3.22bn | CN¥5.38bn | CN¥6.48bn | CN¥3.67bn | CN¥1.53bn | CN¥1.04bn | CN¥820.6m | CN¥718.9m | CN¥698.8m |
| Cash and short-term investments | — | CN¥377.6m | CN¥610.5m | CN¥631.4m | CN¥426.3m | CN¥153.8m | CN¥82.6m | CN¥6.0m | CN¥10.9m | CN¥117.1m |
| Total liabilities | CN¥1.44bn | CN¥1.62bn | CN¥3.18bn | CN¥4.00bn | CN¥1.37bn | CN¥774.9m | CN¥501.2m | CN¥370.7m | CN¥292.0m | CN¥296.1m |
| Debt | CN¥725.8m | CN¥1.06bn | CN¥2.63bn | CN¥3.19bn | CN¥875.4m | CN¥400.1m | CN¥130.0m | CN¥132.8m | CN¥90.6m | CN¥121.2m |
| Shareholders' equity | CN¥1.12bn | CN¥1.61bn | CN¥2.20bn | CN¥2.48bn | CN¥2.31bn | CN¥752.7m | CN¥542.9m | CN¥449.9m | CN¥425.8m | CN¥400.5m |
| Shares outstanding | 83m | 83m | 84m | 82m | 84m | 63m | 62m | 64m | 62m | 52m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥173.9m | CN¥359.5m | −CN¥1.07bn | −CN¥2.92bn | −CN¥1.40bn | −CN¥165.8m | −CN¥10.3m | −CN¥117.2m | −CN¥98.9m | −CN¥75.7m |
| Capital spending | −CN¥33.8m | −CN¥73.8m | −CN¥230.2m | −CN¥143.4m | −CN¥123.5m | −CN¥56.1m | −CN¥24.8m | −CN¥16.3m | −CN¥35.8m | −CN¥18.1m |
| Free cash flow | CN¥140.1m | CN¥285.8m | −CN¥1.30bn | −CN¥3.06bn | −CN¥1.53bn | −CN¥221.9m | −CN¥35.1m | −CN¥133.5m | −CN¥134.8m | −CN¥93.8m |
| Dividends paid | −CN¥17.5m | −CN¥38.8m | −CN¥69.0m | −CN¥51.3m | −CN¥45.4m | −CN¥13.4m | −CN¥5.3m | −CN¥7.0m | −CN¥17.1m | −CN¥13.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥350.7m | CN¥260.2m | CN¥291.3m | CN¥236.8m | CN¥317.6m | CN¥315.5m | CN¥538.6m | CN¥564.3m |
| Gross profit | CN¥36.8m | CN¥4.0m | −CN¥407.2m | −CN¥3.5m | −CN¥18.0m | −CN¥3.3m | −CN¥127.2m | CN¥46.3m |
| Operating income | CN¥11.3m | −CN¥29.7m | −CN¥270.3m | −CN¥72.8m | −CN¥74.7m | −CN¥45.8m | −CN¥213.3m | −CN¥93.3m |
| Net income | −CN¥9.5m | −CN¥38.1m | −CN¥273.1m | −CN¥74.6m | −CN¥75.7m | −CN¥57.4m | −CN¥309.9m | −CN¥110.4m |
| Diluted earnings per share | -0.11 | -0.46 | -3.30 | -0.90 | -0.92 | -0.69 | -3.72 | -1.32 |
| Cash from operations | — | — | — | CN¥97.0m | CN¥133.0m | CN¥45.0m | — | CN¥244.0m |
| Capital spending | — | −CN¥5.0m | −CN¥8.0m | −CN¥2.0m | −CN¥22.0m | −CN¥44.0m | −CN¥8.0m | −CN¥24.0m |
| Free cash flow | — | — | — | CN¥95.0m | CN¥111.0m | CN¥1.0m | — | CN¥220.0m |
| Total assets | CN¥2.37bn | CN¥2.48bn | CN¥2.55bn | CN¥2.89bn | CN¥2.95bn | CN¥2.99bn | CN¥3.22bn | CN¥3.68bn |
| Cash and short-term investments | — | — | — | CN¥575.8m | CN¥362.1m | CN¥190.9m | CN¥351.9m | CN¥318.6m |
| Debt | CN¥102.0m | CN¥233.6m | CN¥725.8m | CN¥455.8m | CN¥1.07bn | CN¥1.08bn | CN¥1.02bn | CN¥1.36bn |
| Shareholders' equity | CN¥1.65bn | CN¥1.59bn | CN¥1.12bn | CN¥1.41bn | CN¥1.49bn | CN¥1.55bn | CN¥1.61bn | CN¥1.92bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -37.2% | -5.1% | -0.8% | 6.2% | 14.5% | 24.1% |
| Operating margin | -37.8% | -17.9% | -4.4% | 2.2% | 9.7% | 17.9% |
| Net margin | -41.4% | -21.5% | -4.7% | 0.9% | 8.1% | 15.1% |
| Return on equity | -43.0% | -34.7% | -10.4% | 2.0% | 10.9% | 29.7% |
| Return on assets | -18.8% | -17.3% | -4.2% | 0.8% | 6.9% | 14.6% |
| Free cash flow yield | 7.4% | 15.3% | -29.4% | -99.1% | -44.9% | -5.1% |
| Revenue growth | -55.2% | -46.8% | -8.2% | 70.9% | 109.7% | 39.3% |
| Earnings growth | -13.9% | 144.3% | -556.3% | -80.1% | 13.0% | 233.8% |
| Current ratio | 2.43x | 2.36x | 1.78x | 1.61x | 2.33x | 1.62x |
| Debt to equity | 0.65x | 0.64x | 1.14x | 1.25x | 0.35x | 0.52x |
| Equity ratio | 43.8% | 49.8% | 40.8% | 38.3% | 62.8% | 49.3% |
| Interest coverage | -9.78x | -6.79x | -2.33x | 1.39x | 12.61x | 24.35x |
| R&D as a share of sales | 6.0% | 4.6% | 2.9% | 2.9% | 4.2% | 4.4% |
| Buybacks as a share of market value | 0.7% | 0.6% | -1.9% | 1.9% | -33.4% | -2.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -39.7% | -4.7% | 12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -15.0% | -2.0% | 2.9% | 4.9% |
| Operating margin | -24.0% | -7.8% | -3.0% | -1.6% |
| Net margin | -27.7% | -8.7% | -4.0% | -2.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -6.6 | -5.0 | -24.1 | 304.4 | 101.5 |
| Price to sales | 2.7 | 1.1 | 1.1 | 2.9 | 8.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Nov 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.12 | 0.12 | 0.61 | 0.54 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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