A 
4.71
+3.52%
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¥2.4m
FY2016FY2025
Net income
−CN¥419.1m
FY2016FY2025
Free cash flow
−CN¥385.2m
FY2016FY2025
Shareholders' equity
CN¥2.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.4m | CN¥1.3m | CN¥56.6m | CN¥63.0m | CN¥89.5m | CN¥40.8m | CN¥202.0m | CN¥193.7m | CN¥62.0m | CN¥38.4m |
| Research and development | CN¥476.3m | CN¥302.4m | CN¥216.8m | CN¥311.0m | CN¥248.4m | CN¥127.0m | CN¥146.7m | CN¥167.0m | CN¥133.1m | CN¥73.0m |
| Operating income | −CN¥563.3m | −CN¥295.4m | −CN¥300.2m | −CN¥400.6m | −CN¥262.0m | −CN¥252.8m | −CN¥42.4m | −CN¥156.0m | −CN¥114.8m | −CN¥49.8m |
| Net income | −CN¥419.1m | −CN¥300.9m | −CN¥144.7m | −CN¥366.6m | −CN¥231.8m | −CN¥243.7m | −CN¥111.8m | −CN¥8.5m | −CN¥62.8m | −CN¥31.2m |
| Diluted earnings per share | -0.43 | -0.30 | -0.14 | -0.34 | -0.21 | -0.23 | -0.11 | -0.01 | -0.06 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.41bn | CN¥2.47bn | CN¥2.90bn | CN¥3.09bn | CN¥3.30bn | CN¥3.57bn | CN¥3.99bn | CN¥4.11bn | CN¥1.15bn | CN¥624.5m |
| Cash and short-term investments | CN¥2.21bn | CN¥2.27bn | CN¥2.68bn | CN¥2.89bn | CN¥2.91bn | CN¥3.16bn | CN¥3.48bn | CN¥3.70bn | CN¥874.8m | CN¥494.4m |
| Total liabilities | CN¥151.3m | CN¥184.5m | CN¥173.4m | CN¥136.4m | CN¥117.5m | CN¥99.5m | CN¥119.0m | CN¥116.7m | CN¥141.4m | CN¥148.1m |
| Debt | CN¥3.3m | CN¥7.6m | CN¥8.4m | CN¥4.2m | CN¥2.8m | CN¥1.6m | CN¥3.8m | — | — | — |
| Shareholders' equity | CN¥2.25bn | CN¥2.29bn | CN¥2.73bn | CN¥2.96bn | CN¥3.18bn | CN¥3.47bn | CN¥3.87bn | CN¥3.99bn | CN¥695.1m | CN¥317.2m |
| Shares outstanding | 983m | 987m | 1,061m | 1,087m | 1,096m | 1,039m | 1,053m | 909m | 1,121m | 1,121m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥383.4m | −CN¥341.6m | −CN¥167.9m | −CN¥165.9m | −CN¥171.1m | −CN¥98.9m | −CN¥86.6m | −CN¥112.5m | −CN¥230.6m | −CN¥14.6m |
| Capital spending | −CN¥1.9m | −CN¥2.1m | −CN¥22.3m | −CN¥16.8m | −CN¥8.4m | −CN¥45.4m | −CN¥32.9m | −CN¥18.4m | −CN¥41.9m | −CN¥51.9m |
| Free cash flow | −CN¥385.2m | −CN¥343.7m | −CN¥190.2m | −CN¥182.7m | −CN¥179.5m | −CN¥144.2m | −CN¥119.4m | −CN¥130.9m | −CN¥272.5m | −CN¥66.5m |
| Dividends paid | — | — | — | — | — | — | — | −CN¥67.3m | −CN¥67.3m | −CN¥75.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | CN¥1.1m | CN¥1.3m | CN¥1.3m | CN¥747,014 | — | — | CN¥10.1m |
| Operating income | −CN¥434.2m | −CN¥342.1m | −CN¥221.2m | −CN¥295.4m | −CN¥133.7m | −CN¥173.7m | −CN¥101.2m | −CN¥227.3m |
| Net income | −CN¥372.7m | −CN¥316.7m | −CN¥102.4m | −CN¥170.6m | −CN¥99.3m | −CN¥130.3m | −CN¥75.9m | −CN¥128.2m |
| Diluted earnings per share | -0.36 | -0.32 | -0.10 | -0.17 | -0.10 | -0.13 | -0.08 | -0.12 |
| Cash from operations | — | −CN¥240.0m | −CN¥201.0m | −CN¥160.0m | — | −CN¥236.0m | −CN¥118.0m | −CN¥88.0m |
| Capital spending | — | — | −CN¥1.0m | −CN¥2.0m | — | −CN¥1.0m | — | −CN¥5.0m |
| Free cash flow | — | — | −CN¥202.0m | −CN¥162.0m | — | −CN¥237.0m | — | −CN¥93.0m |
| Total assets | CN¥2.85bn | CN¥2.41bn | CN¥2.33bn | CN¥2.12bn | CN¥2.47bn | CN¥2.28bn | CN¥2.65bn | CN¥2.90bn |
| Cash and short-term investments | CN¥2.64bn | CN¥2.21bn | CN¥2.10bn | CN¥1.95bn | CN¥2.27bn | CN¥2.09bn | CN¥2.44bn | CN¥2.68bn |
| Debt | CN¥2.6m | CN¥3.3m | CN¥5.0m | CN¥7.6m | CN¥7.3m | CN¥8.9m | CN¥5.3m | CN¥6.6m |
| Shareholders' equity | CN¥2.64bn | CN¥2.25bn | CN¥2.18bn | CN¥1.97bn | CN¥2.29bn | CN¥2.18bn | CN¥2.54bn | CN¥2.73bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -23853.9% | -23025.6% | -530.4% | -635.9% | -292.6% | -620.3% |
| Net margin | -17745.6% | -23455.7% | -255.7% | -582.1% | -258.9% | -597.8% |
| Return on equity | -18.6% | -15.3% | -6.2% | -12.4% | -7.3% | -7.0% |
| Return on assets | -17.4% | -14.2% | -5.8% | -11.8% | -7.0% | -6.8% |
| Free cash flow yield | -4.0% | -4.1% | -1.4% | -1.4% | -1.5% | -0.5% |
| Revenue growth | 58.1% | -97.7% | 4.6% | -29.6% | 119.6% | -79.8% |
| Earnings growth | 19.6% | 108.0% | -54.0% | 58.2% | -4.9% | 118.0% |
| Current ratio | 15.05x | 12.88x | 16.58x | 23.52x | 28.93x | 38.36x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 93.6% | 92.5% | 94.0% | 95.6% | 96.4% | 97.2% |
| Interest coverage | -2949.74x | -1210.73x | -2084.78x | -2190.94x | -1799.73x | -1608.24x |
| R&D as a share of sales | 20170.3% | 23569.3% | 383.0% | 493.8% | 277.5% | 311.7% |
| Buybacks as a share of market value | 0.4% | 7.0% | 2.4% | 0.8% | -5.6% | 1.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -66.5% | -43.4% | — |
| Operating income | 12.0% | 17.4% | — |
| Net income | 4.6% | 11.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -23.1 | -8.6 | -9.3 | -12.2 | -13.5 | -10.6 | -24.2 | -593.3 |
| Price to sales | — | — | 23.7 | 70.9 | 34.9 | 63.6 | 13.4 | 25.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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