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Close of 9 Nov 2026, in HKD
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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¥1.74bn
FY2016FY2025
Net income
−CN¥14.6m
FY2016FY2025
Free cash flow
−CN¥172.3m
FY2016FY2025
Shareholders' equity
CN¥209.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.74bn | CN¥356.8m | CN¥378.7m | CN¥412.7m | CN¥441.1m | CN¥521.3m | CN¥986.4m | CN¥913.5m | CN¥770.4m | CN¥365.1m |
| Gross profit | CN¥38.0m | CN¥22.5m | CN¥23.6m | CN¥10.6m | CN¥20.6m | CN¥43.7m | CN¥124.1m | CN¥111.5m | CN¥97.2m | CN¥50.5m |
| Operating income | −CN¥19.0m | −CN¥79.9m | −CN¥24.8m | −CN¥25.6m | CN¥12.4m | CN¥13.1m | CN¥83.4m | CN¥80.9m | CN¥61.8m | CN¥21.1m |
| Net income | −CN¥14.6m | −CN¥123.7m | −CN¥23.5m | −CN¥11.4m | CN¥445,000 | CN¥3.3m | CN¥42.3m | CN¥53.8m | CN¥46.9m | CN¥18.4m |
| Diluted earnings per share | -0.03 | -0.23 | -0.06 | -0.03 | 0.00 | 0.01 | 0.13 | 0.17 | 0.12 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥730.6m | CN¥459.2m | CN¥671.3m | CN¥669.6m | CN¥404.3m | CN¥475.1m | CN¥676.4m | CN¥335.8m | CN¥360.5m | CN¥159.7m |
| Cash and short-term investments | CN¥60.3m | CN¥34.0m | CN¥20.8m | CN¥5.9m | CN¥34.9m | CN¥20.7m | CN¥79.3m | CN¥42.9m | CN¥66.7m | CN¥14.3m |
| Total liabilities | CN¥521.4m | CN¥305.4m | CN¥458.2m | CN¥429.2m | CN¥186.5m | CN¥221.7m | CN¥426.2m | CN¥233.3m | CN¥203.0m | CN¥49.1m |
| Debt | CN¥270.3m | CN¥82.0m | CN¥149.0m | CN¥117.2m | CN¥116.3m | CN¥126.7m | CN¥102.5m | CN¥88.6m | CN¥78.3m | CN¥9.2m |
| Shareholders' equity | CN¥209.2m | CN¥153.8m | CN¥213.2m | CN¥240.5m | CN¥217.6m | CN¥253.3m | CN¥250.0m | CN¥102.4m | CN¥157.5m | CN¥110.6m |
| Shares outstanding | 560m | 548m | 400m | 400m | 400m | 400m | 327m | 313m | 400m | 400m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥170.2m | CN¥54.0m | −CN¥36.5m | −CN¥38.9m | CN¥11.7m | −CN¥104.8m | −CN¥103.2m | CN¥25.7m | −CN¥1.9m | −CN¥47.6m |
| Capital spending | −CN¥2.2m | −CN¥82,000 | — | — | — | −CN¥27,988 | −CN¥818,659 | −CN¥356,852 | −CN¥1.4m | −CN¥1.4m |
| Free cash flow | −CN¥172.3m | CN¥53.9m | −CN¥36.5m | −CN¥38.9m | CN¥11.7m | −CN¥104.8m | −CN¥104.0m | CN¥25.3m | −CN¥3.3m | −CN¥48.9m |
| Dividends paid | — | — | — | — | — | — | −CN¥2.4m | −CN¥63.0m | −CN¥63.0m | −CN¥63.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥279.8m | CN¥986.8m | CN¥755.0m | CN¥289.7m | CN¥67.1m | CN¥161.0m | CN¥217.7m | CN¥189.3m |
| Gross profit | −CN¥17.4m | CN¥5.8m | CN¥32.2m | CN¥17.5m | CN¥5.0m | CN¥16.3m | CN¥7.3m | CN¥3.3m |
| Operating income | −CN¥122.9m | −CN¥31.9m | CN¥13.0m | −CN¥78.0m | −CN¥1.8m | −CN¥30.3m | CN¥2.0m | −CN¥25.5m |
| Net income | −CN¥141.9m | −CN¥74.6m | CN¥60.0m | −CN¥129.1m | CN¥5.4m | −CN¥23.6m | CN¥146,000 | −CN¥8.0m |
| Diluted earnings per share | -0.25 | -0.13 | 0.11 | -0.24 | 0.01 | -0.06 | 0.00 | -0.02 |
| Cash from operations | — | CN¥20.0m | −CN¥190.0m | CN¥27.0m | CN¥26.0m | CN¥23.0m | −CN¥59.0m | −CN¥9.0m |
| Capital spending | — | — | −CN¥1.0m | — | — | — | — | — |
| Free cash flow | — | — | −CN¥191.0m | — | — | — | — | — |
| Total assets | CN¥387.8m | CN¥730.6m | CN¥868.9m | CN¥459.2m | CN¥601.4m | CN¥575.7m | CN¥585.6m | CN¥644.6m |
| Cash and short-term investments | CN¥61.8m | CN¥60.3m | CN¥128.9m | CN¥34.0m | CN¥37.6m | CN¥17.9m | CN¥886,789 | CN¥5.7m |
| Debt | CN¥3.1m | CN¥270.3m | CN¥273.8m | CN¥96.6m | CN¥120.0m | CN¥149.0m | CN¥183.9m | CN¥117.2m |
| Shareholders' equity | CN¥130.4m | CN¥209.2m | CN¥281.7m | CN¥153.8m | CN¥224.1m | CN¥182.8m | CN¥222.7m | CN¥231.6m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 2.2% | 6.3% | 6.2% | 2.6% | 4.7% | 8.4% | — | — | — |
| Operating margin | -1.1% | -22.4% | -7.0% | -6.6% | 2.8% | -0.0% | — | — | — |
| Net margin | -0.8% | -34.7% | -6.2% | -2.8% | 0.1% | 0.6% | — | — | — |
| Return on equity | -7.0% | -80.4% | -12.8% | -5.5% | 0.2% | 1.3% | — | — | — |
| Return on assets | -2.0% | -26.9% | -4.1% | -2.0% | 0.1% | 0.7% | — | — | — |
| Free cash flow yield | -57.8% | 22.2% | — | — | — | -50.5% | -60.2% | 16.0% | -0.2% |
| Revenue growth | 318.6% | -5.8% | -8.2% | -6.4% | -1.3% | -47.2% | — | — | — |
| Earnings growth | -89.9% | 427.0% | 106.2% | -2658.2% | -84.4% | -92.2% | — | — | — |
| Current ratio | 1.21x | 1.15x | 1.53x | 1.67x | 2.15x | 2.86x | — | — | — |
| Debt to equity | 1.27x | 0.63x | 0.82x | 0.57x | 0.53x | 0.58x | — | — | — |
| Equity ratio | 28.6% | 33.5% | 31.8% | 35.9% | 53.8% | 53.3% | — | — | — |
| Interest coverage | -1.32x | -17.54x | -4.80x | -5.54x | 1.82x | -0.01x | — | — | — |
| Buybacks as a share of market value | -2.2% | -37.0% | 0.0% | 0.0% | 0.0% | -22.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 62.4% | 27.4% | — |
| Operating income | -9.5% | — | — |
| Net income | 8.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.9% | 3.3% | 4.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -121.5 | -11.9 | -7.1 | -13.8 | 323.1 | 30.3 | 16.1 |
| Price to sales | 1.0 | 4.3 | 0.5 | 0.4 | 0.3 | 0.2 | 0.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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