A 
22.66
+0.40%
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¥630.1m
FY2016FY2025
Net income
−CN¥22.1m
FY2016FY2025
Free cash flow
−CN¥350.4m
FY2016FY2025
Shareholders' equity
CN¥2.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥630.1m | CN¥504.5m | CN¥464.5m | CN¥603.0m | CN¥422.7m | CN¥192.3m | CN¥165.1m | CN¥115.6m | CN¥81.1m | CN¥55.4m |
| Research and development | CN¥67.6m | CN¥48.3m | CN¥56.4m | CN¥39.9m | CN¥24.3m | CN¥14.6m | CN¥10.8m | CN¥7.0m | CN¥4.5m | — |
| Operating income | −CN¥41.0m | CN¥19.7m | CN¥18.1m | CN¥165.3m | CN¥123.9m | CN¥44.2m | CN¥48.1m | CN¥23.5m | CN¥7.9m | CN¥1.5m |
| Net income | −CN¥22.1m | CN¥12.0m | CN¥24.5m | CN¥146.9m | CN¥108.2m | CN¥45.1m | CN¥44.3m | CN¥20.8m | CN¥9.3m | CN¥2.5m |
| Diluted earnings per share | -0.10 | 0.07 | 0.10 | 0.75 | 0.58 | 0.31 | 0.21 | 0.27 | 0.11 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.51bn | CN¥3.22bn | CN¥2.97bn | CN¥2.99bn | CN¥1.43bn | CN¥578.3m | CN¥549.9m | CN¥276.9m | CN¥196.7m | CN¥169.8m |
| Cash and short-term investments | — | CN¥760.3m | CN¥917.6m | CN¥1.35bn | CN¥556.9m | CN¥108.7m | CN¥172.4m | CN¥17.8m | CN¥12.5m | CN¥28.8m |
| Total liabilities | CN¥1.39bn | CN¥1.01bn | CN¥735.7m | CN¥728.3m | CN¥200.8m | CN¥94.0m | CN¥101.9m | CN¥107.2m | CN¥93.5m | CN¥78.2m |
| Debt | CN¥643.3m | CN¥510.0m | CN¥231.4m | CN¥318.7m | CN¥25.5m | CN¥12.9m | CN¥10.0m | CN¥44.3m | CN¥56.0m | CN¥63.0m |
| Shareholders' equity | CN¥2.11bn | CN¥2.20bn | CN¥2.24bn | CN¥2.26bn | CN¥1.23bn | CN¥484.4m | CN¥448.0m | CN¥167.1m | CN¥103.2m | CN¥91.6m |
| Shares outstanding | 212m | 168m | 239m | 196m | 186m | 147m | 212m | 78m | 83m | 95m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥55.4m | −CN¥67.3m | CN¥29.0m | CN¥50.5m | −CN¥34.1m | CN¥23.7m | −CN¥12.7m | −CN¥3.2m | −CN¥2.1m | CN¥7.6m |
| Capital spending | −CN¥295.0m | −CN¥230.6m | −CN¥414.0m | −CN¥404.4m | −CN¥159.5m | −CN¥81.1m | −CN¥27.0m | −CN¥19.5m | −CN¥7.9m | −CN¥13.6m |
| Free cash flow | −CN¥350.4m | −CN¥297.9m | −CN¥385.1m | −CN¥353.9m | −CN¥193.6m | −CN¥57.5m | −CN¥39.7m | −CN¥22.7m | −CN¥9.9m | −CN¥6.0m |
| Dividends paid | −CN¥35.9m | −CN¥33.4m | −CN¥39.6m | −CN¥46.4m | −CN¥1.0m | −CN¥13.9m | −CN¥2.1m | −CN¥6.5m | −CN¥3.7m | −CN¥3.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥225.0m | CN¥185.5m | CN¥195.3m | CN¥163.3m | CN¥151.6m | CN¥119.9m | CN¥129.8m | CN¥135.5m |
| Operating income | CN¥13.7m | CN¥4.0m | −CN¥14.5m | CN¥631,175 | CN¥813,750 | −CN¥20.1m | −CN¥7.2m | CN¥10.9m |
| Net income | CN¥11.3m | CN¥419,302 | −CN¥8.3m | CN¥3.7m | −CN¥680,495 | −CN¥16.8m | −CN¥2.8m | CN¥8.9m |
| Diluted earnings per share | 0.05 | 0.00 | -0.04 | 0.02 | -0.00 | -0.08 | -0.02 | 0.05 |
| Cash from operations | — | — | — | −CN¥29.0m | CN¥24.0m | −CN¥60.0m | CN¥31.0m | −CN¥7.0m |
| Capital spending | −CN¥151.0m | −CN¥81.0m | −CN¥98.0m | −CN¥134.0m | −CN¥25.0m | −CN¥37.0m | −CN¥85.0m | −CN¥44.0m |
| Free cash flow | — | — | — | −CN¥163.0m | −CN¥1.0m | −CN¥97.0m | −CN¥54.0m | −CN¥51.0m |
| Total assets | CN¥3.74bn | CN¥3.59bn | CN¥3.51bn | CN¥3.46bn | CN¥3.32bn | CN¥3.39bn | CN¥3.22bn | CN¥3.12bn |
| Cash and short-term investments | — | — | — | CN¥675.2m | CN¥748.3m | CN¥827.0m | CN¥760.3m | CN¥790.6m |
| Debt | CN¥730.4m | CN¥570.6m | CN¥643.3m | CN¥206.2m | CN¥545.1m | CN¥546.0m | CN¥398.7m | CN¥356.6m |
| Shareholders' equity | CN¥2.09bn | CN¥2.09bn | CN¥2.11bn | CN¥2.17bn | CN¥2.17bn | CN¥2.19bn | CN¥2.20bn | CN¥2.21bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -6.5% | 3.9% | 6.5% | 28.5% | 29.7% | 27.1% |
| Net margin | -3.5% | 2.4% | 5.3% | 24.4% | 25.6% | 23.5% |
| Return on equity | -1.0% | 0.5% | 1.1% | 6.5% | 8.8% | 9.3% |
| Return on assets | -0.6% | 0.4% | 0.8% | 4.9% | 7.6% | 7.8% |
| Free cash flow yield | 4.3% | 3.7% | 7.1% | 8.9% | 2.6% | 2.7% |
| Revenue growth | 24.9% | 8.6% | -23.0% | 42.7% | 119.9% | 16.4% |
| Earnings growth | -284.3% | -51.1% | -83.3% | 35.8% | 140.0% | 1.8% |
| Current ratio | 2.38x | 2.63x | 2.78x | 3.49x | 5.84x | 4.52x |
| Debt to equity | 0.31x | 0.18x | 0.09x | 0.09x | 0.04x | 0.03x |
| Equity ratio | 60.0% | 68.3% | 75.3% | 75.6% | 85.9% | 83.8% |
| Interest coverage | -2.38x | 1.46x | 2.42x | 23.77x | 67.21x | 302.06x |
| R&D as a share of sales | 10.7% | 9.6% | 12.1% | 6.6% | 5.7% | 7.6% |
| Buybacks as a share of market value | -26.4% | 29.7% | -21.6% | -5.3% | -26.9% | -88.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.5% | 26.8% | 34.6% |
| Operating income | — | — | 23.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.9% | 7.4% | 11.7% | 12.4% |
| Net margin | -0.9% | 7.3% | 11.2% | 12.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -277.6 | 264.0 | 284.8 | 50.3 | 137.4 |
| Price to sales | 9.8 | 6.3 | 15.0 | 12.3 | 35.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 16 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.10 | 0.10 | 0.20 | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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