C 
2.32
+0.43%
Close of 9 Nov 2026, in USD
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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¥1.15bn
FY2016FY2025
Net income
−CN¥257.7m
FY2016FY2025
Free cash flow
−CN¥185.1m
FY2016FY2025
Shareholders' equity
CN¥1.61bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.15bn | CN¥806.9m | CN¥669.5m | CN¥884.1m | CN¥784.6m | CN¥1.55bn | CN¥3.59bn | CN¥4.98bn | CN¥4.97bn | CN¥4.56bn |
| Gross profit | CN¥834.0m | CN¥545.2m | CN¥437.6m | CN¥631.5m | CN¥527.0m | CN¥1.08bn | CN¥2.35bn | CN¥3.44bn | CN¥3.19bn | CN¥3.02bn |
| Research and development | CN¥346.2m | CN¥243.4m | CN¥178.2m | CN¥181.0m | CN¥211.6m | CN¥455.2m | CN¥787.3m | CN¥668.9m | CN¥684.9m | CN¥905.9m |
| Operating income | −CN¥137.9m | −CN¥284.4m | −CN¥209.8m | −CN¥225.6m | −CN¥229.6m | −CN¥531.1m | −CN¥1.11bn | CN¥467.2m | CN¥446.9m | −CN¥12.4m |
| Net income | −CN¥257.7m | −CN¥617.6m | −CN¥602.9m | −CN¥513.5m | −CN¥353.2m | CN¥416.7m | −CN¥343.8m | CN¥1.13bn | CN¥1.33bn | −CN¥80.5m |
| Diluted earnings per share | -415.53 | -0.41 | -0.40 | -17.73 | -0.00 | 727.92 | -625.62 | 1,986.97 | 2,328.99 | -140.68 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.68bn | CN¥5.50bn | CN¥5.63bn | CN¥5.14bn | CN¥4.98bn | CN¥5.63bn | CN¥7.01bn | CN¥8.29bn | CN¥7.45bn | CN¥5.54bn |
| Cash and short-term investments | CN¥1.52bn | CN¥1.83bn | CN¥2.02bn | CN¥1.67bn | CN¥1.85bn | CN¥1.66bn | CN¥2.35bn | CN¥3.71bn | CN¥3.71bn | CN¥1.77bn |
| Total liabilities | CN¥2.73bn | CN¥3.30bn | CN¥2.97bn | CN¥2.03bn | CN¥1.62bn | CN¥1.83bn | CN¥2.02bn | CN¥2.70bn | CN¥2.94bn | CN¥2.34bn |
| Debt | CN¥15.2m | CN¥74.8m | CN¥36.0m | CN¥41.5m | CN¥48.1m | CN¥18.8m | CN¥58.5m | CN¥147.9m | CN¥336.3m | CN¥498.3m |
| Shareholders' equity | CN¥1.61bn | CN¥1.90bn | CN¥2.46bn | CN¥3.03bn | CN¥3.36bn | CN¥3.76bn | CN¥4.93bn | CN¥5.59bn | CN¥4.29bn | CN¥3.01bn |
| Shares outstanding | 1m | 1,516m | 1,494m | 29m | 1,430,053m | 1m | 1m | 1m | 1m | 1m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥172.3m | −CN¥238.3m | CN¥550.5m | −CN¥424.2m | CN¥102.8m | −CN¥46.1m | −CN¥239.5m | CN¥345.6m | CN¥625.6m | CN¥393.6m |
| Capital spending | −CN¥12.8m | −CN¥22.8m | −CN¥9.7m | −CN¥6.8m | −CN¥46.8m | −CN¥59.3m | −CN¥102.2m | −CN¥65.4m | −CN¥25.9m | −CN¥117.7m |
| Free cash flow | −CN¥185.1m | −CN¥261.2m | CN¥540.8m | −CN¥431.0m | CN¥56.0m | −CN¥105.4m | −CN¥341.7m | CN¥280.2m | CN¥599.7m | CN¥275.9m |
| Dividends paid | — | — | — | — | −CN¥5.0m | −CN¥1.44bn | −CN¥500.6m | −CN¥1.44bn | −CN¥58.7m | −CN¥123,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥266.1m | CN¥259.0m | CN¥304.6m | CN¥287.4m | CN¥295.2m | CN¥259.0m | CN¥237.1m | CN¥192.1m |
| Gross profit | CN¥168.6m | CN¥166.6m | CN¥146.1m | CN¥214.4m | CN¥224.8m | CN¥189.5m | CN¥172.8m | CN¥130.4m |
| Operating income | −CN¥33.6m | −CN¥28.3m | −CN¥102.8m | CN¥3.9m | −CN¥11.1m | −CN¥26.5m | −CN¥54.2m | −CN¥72.0m |
| Net income | −CN¥94.9m | −CN¥17.5m | −CN¥188.1m | −CN¥11.0m | −CN¥22.6m | −CN¥33.4m | −CN¥366.8m | −CN¥46.9m |
| Diluted earnings per share | -152.69 | -28.12 | -303.30 | -17.69 | -36.51 | -53.78 | -0.24 | -0.03 |
| Cash from operations | — | −CN¥172.0m | — | — | — | — | — | — |
| Capital spending | — | −CN¥12.0m | — | — | — | — | — | — |
| Free cash flow | — | −CN¥184.0m | — | — | — | — | — | — |
| Total assets | CN¥4.64bn | CN¥4.42bn | CN¥4.69bn | CN¥4.98bn | CN¥5.24bn | CN¥4.90bn | CN¥5.50bn | CN¥5.43bn |
| Cash and short-term investments | CN¥1.27bn | CN¥1.29bn | CN¥1.52bn | CN¥1.60bn | CN¥2.02bn | CN¥1.70bn | — | CN¥1.53bn |
| Debt | CN¥2.9m | CN¥9.0m | — | — | — | CN¥12.7m | — | — |
| Shareholders' equity | CN¥1.43bn | CN¥1.56bn | CN¥1.61bn | CN¥1.82bn | CN¥1.84bn | CN¥1.88bn | CN¥1.90bn | CN¥2.20bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 72.5% | 67.6% | 65.4% | 71.4% | 67.2% | 69.4% | — |
| Operating margin | -12.0% | -35.2% | -31.3% | -25.5% | -29.3% | -34.2% | — |
| Net margin | -22.4% | -76.5% | -90.1% | -58.1% | -45.0% | 26.8% | — |
| Return on equity | -16.0% | -32.5% | -24.5% | -16.9% | -10.5% | 11.1% | — |
| Return on assets | -5.5% | -11.2% | -10.7% | -10.0% | -7.1% | 7.4% | — |
| Free cash flow yield | -10577.4% | -5.9% | 15.4% | -593.3% | 0.0% | 944.3% | — |
| Revenue growth | 42.6% | 20.5% | -24.3% | 12.7% | -49.5% | -56.7% | — |
| Earnings growth | -58.3% | 2.4% | 17.4% | 45.4% | -184.8% | -221.2% | — |
| Current ratio | 1.27x | 1.23x | 1.27x | 1.76x | 1.92x | 1.87x | — |
| Debt to equity | 0.01x | 0.03x | 0.01x | 0.00x | 0.01x | 0.00x | — |
| Equity ratio | 34.3% | 34.5% | 43.6% | 59.0% | 67.5% | 66.8% | — |
| Interest coverage | — | — | — | -4.12x | -2.74x | -0.46x | -2.56x |
| R&D as a share of sales | 30.1% | 30.2% | 26.6% | 20.5% | 27.0% | 29.3% | — |
| Buybacks as a share of market value | 100.0% | -1.4% | -5060.1% | 100.0% | -249790747.5% | -4.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.2% | -5.8% | -11.2% |
| Operating income | -15.1% | -23.6% | — |
| Net income | -20.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 70.5% | 69.7% | 69.3% | 68.1% |
| Operating margin | -21.6% | -24.4% | -27.7% | -5.8% |
| Net margin | -44.7% | -56.7% | -33.0% | 1.0% |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | -0.1 |
| Price to sales | 0.0 |
Market value over time
30 Nov 2016 to 30 Oct 2026, in CNY
CN¥1.42bnCN¥1.5m
Share price return
Finished calendar years
| 2025 | |
|---|---|
| Return | 36% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Jun 2020.
| FY2020 | FY2019 | |
|---|---|---|
| Paid in the year | 7.20 | 2.50 |
- 5-to-1 reverse split · 2 Sept 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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