C 
3.88
-5.37%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥139.1m
FY2017FY2025
Net income
−CN¥41.2m
FY2017FY2025
Free cash flow
−CN¥47.6m
FY2017FY2025
Shareholders' equity
CN¥177.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥139.1m | CN¥126.8m | CN¥243.0m | CN¥188.1m | CN¥267.6m | CN¥289.9m | CN¥190.6m | CN¥144.4m | CN¥57.3m |
| Gross profit | −CN¥2.8m | −CN¥7.7m | CN¥23.0m | CN¥23.6m | CN¥39.2m | CN¥62.9m | CN¥56.8m | CN¥44.5m | CN¥18.9m |
| Research and development | CN¥11.1m | CN¥1.9m | — | — | — | — | — | — | — |
| Operating income | −CN¥42.3m | −CN¥33.3m | −CN¥7.4m | CN¥7.9m | CN¥25.3m | CN¥46.0m | CN¥48.5m | CN¥39.1m | CN¥15.8m |
| Net income | −CN¥41.2m | −CN¥29.7m | −CN¥8.7m | CN¥4.6m | CN¥18.0m | CN¥34.4m | CN¥36.4m | CN¥26.8m | CN¥6.4m |
| Diluted earnings per share | -0.16 | -0.12 | -0.03 | 0.02 | 0.07 | 0.17 | 0.15 | 0.11 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥378.8m | CN¥340.7m | CN¥443.4m | CN¥441.7m | CN¥504.4m | CN¥468.3m | CN¥259.3m | CN¥240.2m | CN¥196.0m |
| Cash and short-term investments | CN¥28.6m | CN¥43.6m | CN¥47.8m | CN¥43.9m | CN¥40.6m | CN¥103.9m | CN¥30.5m | CN¥2.2m | CN¥2.1m |
| Total liabilities | CN¥201.1m | CN¥150.7m | CN¥219.6m | CN¥173.7m | CN¥244.8m | CN¥262.0m | CN¥169.0m | CN¥209.1m | CN¥169.1m |
| Debt | CN¥103.5m | CN¥66.1m | CN¥71.4m | CN¥45.4m | CN¥57.9m | CN¥85.4m | CN¥80.6m | CN¥135.7m | CN¥114.3m |
| Shareholders' equity | CN¥177.7m | CN¥191.0m | CN¥220.6m | CN¥268.0m | CN¥259.6m | CN¥204.6m | CN¥88.9m | CN¥29.9m | CN¥16.1m |
| Shares outstanding | 250m | 250m | 250m | 250m | 250m | 200m | 250m | 250m | 250m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥45.8m | −CN¥10.6m | CN¥8.3m | CN¥20.7m | CN¥7.3m | CN¥10.4m | CN¥44.7m | −CN¥10.7m | −CN¥5.8m |
| Capital spending | −CN¥1.8m | −CN¥5.6m | −CN¥22.6m | −CN¥5.6m | −CN¥9.5m | −CN¥1.2m | −CN¥115,476 | −CN¥1.0m | −CN¥49.0m |
| Free cash flow | −CN¥47.6m | −CN¥16.3m | −CN¥14.3m | CN¥15.2m | −CN¥2.2m | CN¥9.1m | CN¥44.6m | −CN¥11.7m | −CN¥54.7m |
| Dividends paid | — | — | — | — | — | −CN¥14.3m | −CN¥3.5m | −CN¥4.1m | −CN¥4.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥46.4m | CN¥91.6m | CN¥47.5m | CN¥84.7m | CN¥42.1m | CN¥137.1m | CN¥105.9m | CN¥111.4m |
| Gross profit | CN¥49,054 | CN¥943,000 | −CN¥3.8m | −CN¥7.7m | CN¥36,781 | CN¥14.8m | CN¥8.2m | CN¥14.9m |
| Operating income | −CN¥6.2m | −CN¥18.4m | −CN¥23.8m | −CN¥20.4m | −CN¥12.8m | −CN¥4.2m | −CN¥3.2m | CN¥6.6m |
| Net income | −CN¥9.5m | −CN¥21.2m | −CN¥20.0m | −CN¥18.3m | −CN¥11.4m | −CN¥4.9m | −CN¥3.8m | CN¥1.8m |
| Diluted earnings per share | -0.04 | -0.08 | -0.08 | -0.07 | -0.05 | -0.02 | -0.02 | 0.01 |
| Cash from operations | — | −CN¥34.0m | −CN¥8.0m | CN¥21.0m | −CN¥32.0m | CN¥8.0m | — | CN¥12.0m |
| Capital spending | — | −CN¥2.0m | −CN¥4.0m | −CN¥2.0m | −CN¥2.0m | −CN¥5.0m | −CN¥16.0m | −CN¥4.0m |
| Free cash flow | — | −CN¥36.0m | −CN¥12.0m | CN¥19.0m | −CN¥34.0m | CN¥3.0m | — | CN¥8.0m |
| Total assets | CN¥360.2m | CN¥378.8m | CN¥362.3m | CN¥398.3m | CN¥464.6m | CN¥443.4m | CN¥430.8m | CN¥377.8m |
| Cash and short-term investments | CN¥19.6m | CN¥28.6m | CN¥15.9m | CN¥51.0m | CN¥36.7m | CN¥47.8m | CN¥26.0m | CN¥37.6m |
| Debt | CN¥82.5m | CN¥90.7m | CN¥53.8m | CN¥77.2m | CN¥96.6m | CN¥71.4m | CN¥51.5m | CN¥38.8m |
| Shareholders' equity | CN¥168.6m | CN¥177.7m | CN¥198.8m | CN¥223.2m | CN¥244.5m | CN¥220.6m | CN¥225.5m | CN¥229.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.8% | -13.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -3.9% | 5.2% | 11.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -13.1 | -37.1 | -189.6 | 162.4 | 23.8 | 6.8 |
| Price to sales | 4.0 | 9.1 | 6.9 | 4.0 | 1.6 | 0.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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