G 
0.32
-8.70%
Close of 5 Nov 2026, in HKD
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥492.0m
FY2016FY2025
Net income
−CN¥106.8m
FY2016FY2025
Free cash flow
−CN¥12.9m
FY2016FY2025
Shareholders' equity
CN¥84.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥492.0m | CN¥428.7m | CN¥303.0m | CN¥301.8m | CN¥73.9m | CN¥162.7m | CN¥472.9m | CN¥668.0m | CN¥644.4m | CN¥468.0m |
| Gross profit | CN¥66.6m | CN¥50.4m | CN¥10.2m | CN¥9.1m | CN¥5.7m | CN¥28.6m | CN¥103.8m | CN¥169.1m | CN¥163.5m | CN¥118.4m |
| Research and development | — | CN¥441,169 | CN¥689,035 | CN¥674,520 | CN¥556,692 | CN¥578,000 | CN¥690,000 | CN¥789,000 | CN¥554,000 | CN¥1.3m |
| Operating income | −CN¥99.9m | −CN¥91.8m | −CN¥69.1m | −CN¥80.3m | −CN¥73.3m | −CN¥30.3m | CN¥44.4m | CN¥102.1m | CN¥104.2m | CN¥85.6m |
| Net income | −CN¥106.8m | −CN¥98.2m | −CN¥68.2m | −CN¥85.7m | −CN¥83.2m | −CN¥32.3m | CN¥30.8m | CN¥76.4m | CN¥70.2m | CN¥61.2m |
| Diluted earnings per share | -0.53 | -0.65 | -0.55 | -0.71 | -0.82 | -0.32 | 0.31 | 0.76 | 0.96 | 0.61 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥164.8m | CN¥203.5m | CN¥225.0m | CN¥244.5m | CN¥346.6m | CN¥499.8m | CN¥508.8m | CN¥503.1m | CN¥445.0m | CN¥222.6m |
| Cash and short-term investments | CN¥10.1m | CN¥6.8m | CN¥64.3m | CN¥56.8m | CN¥150.6m | CN¥213.5m | CN¥242.6m | CN¥234.3m | CN¥285.2m | CN¥110.0m |
| Total liabilities | CN¥80.6m | CN¥99.7m | CN¥72.7m | CN¥57.1m | CN¥40.1m | CN¥53.4m | CN¥31.0m | CN¥56.1m | CN¥74.0m | CN¥67.0m |
| Debt | CN¥41.5m | CN¥59.9m | CN¥38.9m | CN¥23.8m | CN¥20.3m | CN¥14.8m | CN¥4.1m | — | — | — |
| Shareholders' equity | CN¥84.3m | CN¥103.9m | CN¥152.5m | CN¥187.5m | CN¥306.7m | CN¥446.4m | CN¥477.8m | CN¥447.0m | CN¥371.0m | CN¥155.6m |
| Shares outstanding | 203m | 152m | 123m | 120m | 102m | 100m | 100m | 100m | 73m | 100m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥12.9m | −CN¥75.8m | −CN¥42.4m | −CN¥70.2m | −CN¥45.7m | −CN¥32.7m | CN¥5.6m | CN¥19.0m | CN¥47.2m | CN¥34.3m |
| Capital spending | −CN¥19,432 | −CN¥4.7m | −CN¥8.3m | −CN¥266,393 | −CN¥2.5m | −CN¥7.2m | −CN¥5.0m | −CN¥72.1m | −CN¥35,000 | −CN¥35,000 |
| Free cash flow | −CN¥12.9m | −CN¥80.5m | −CN¥50.7m | −CN¥70.5m | −CN¥48.2m | −CN¥39.9m | CN¥630,000 | −CN¥53.1m | CN¥47.1m | CN¥34.3m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −CN¥5.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥209.3m | CN¥249.7m | CN¥255.5m | CN¥153.5m | CN¥135.7m | CN¥167.3m | CN¥155.2m | CN¥193.6m |
| Gross profit | CN¥21.0m | CN¥27.7m | CN¥40.8m | CN¥8.8m | CN¥4.6m | CN¥5.6m | CN¥4.9m | CN¥6.2m |
| Operating income | −CN¥42.8m | −CN¥48.4m | −CN¥52.8m | −CN¥32.8m | −CN¥34.5m | −CN¥34.0m | −CN¥39.5m | −CN¥44.2m |
| Net income | −CN¥50.0m | −CN¥50.3m | −CN¥59.5m | −CN¥34.4m | −CN¥35.7m | −CN¥32.6m | −CN¥40.1m | −CN¥54.0m |
| Diluted earnings per share | -0.18 | -0.25 | -0.29 | -0.23 | -0.24 | -0.26 | -0.33 | -0.45 |
| Cash from operations | — | −CN¥7.0m | −CN¥5.0m | −CN¥76.0m | CN¥10.0m | −CN¥51.0m | −CN¥105.0m | CN¥3.0m |
| Capital spending | — | — | — | −CN¥4.0m | −CN¥9.0m | — | — | — |
| Free cash flow | — | — | — | −CN¥80.0m | CN¥1.0m | — | — | — |
| Total assets | CN¥136.2m | CN¥164.8m | CN¥203.5m | CN¥197.8m | CN¥225.0m | CN¥239.8m | CN¥244.5m | CN¥290.8m |
| Cash and short-term investments | CN¥997,816 | CN¥10.1m | CN¥6.8m | CN¥6.6m | CN¥64.3m | CN¥35.8m | CN¥56.8m | CN¥77.2m |
| Debt | CN¥9.1m | CN¥41.4m | CN¥59.9m | CN¥48.7m | CN¥44.5m | CN¥24.4m | CN¥24.7m | CN¥22.8m |
| Shareholders' equity | CN¥39.0m | CN¥84.3m | CN¥103.9m | CN¥128.3m | CN¥152.5m | CN¥185.9m | CN¥187.5m | CN¥226.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.7% | 24.8% | 3.0% |
| Operating income | 7.5% | 26.9% | — |
| Net income | 7.6% | 27.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.7% | 8.9% | 9.7% | 18.7% |
| Operating margin | -20.8% | -22.4% | -25.2% | -0.7% |
| Net margin | -22.3% | -23.5% | -26.9% | -4.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.0 | -0.5 | -0.9 | -0.7 | -0.2 | -0.3 | 0.6 | 0.5 | 1.1 |
| Price to sales | 0.2 | 0.1 | 0.2 | 0.2 | 0.3 | 0.1 | 0.0 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 27 May 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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