R 
1.04
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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¥92.5m
FY2016FY2025
Net income
−CN¥23.7m
FY2016FY2025
Free cash flow
−CN¥18.3m
FY2016FY2025
Shareholders' equity
−CN¥48.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥92.5m | CN¥104.7m | CN¥81.2m | CN¥128.3m | CN¥212.4m | CN¥212.7m | CN¥218.6m | CN¥475.8m | CN¥317.3m | CN¥390.2m |
| Research and development | CN¥8.2m | CN¥19.4m | CN¥17.5m | CN¥19.1m | CN¥16.8m | CN¥21.7m | CN¥31.6m | CN¥37.0m | CN¥47.2m | CN¥37.8m |
| Operating income | −CN¥4.8m | −CN¥52.3m | −CN¥69.3m | −CN¥54.5m | −CN¥46.2m | −CN¥107.5m | −CN¥83.0m | −CN¥6.6m | CN¥3.3m | CN¥75.3m |
| Net income | −CN¥23.7m | −CN¥63.0m | −CN¥118.6m | −CN¥101.9m | −CN¥47.3m | −CN¥126.0m | −CN¥236.8m | CN¥4.2m | CN¥12.7m | CN¥57.7m |
| Diluted earnings per share | -0.08 | -1.23 | -2.35 | -2.81 | -1.97 | -6.39 | -13.25 | 0.24 | 0.77 | 4.67 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥213.7m | CN¥202.5m | CN¥214.4m | CN¥341.3m | CN¥471.5m | CN¥518.3m | CN¥618.5m | CN¥1.06bn | CN¥482.4m | CN¥355.1m |
| Cash and short-term investments | CN¥17.0m | CN¥13.0m | CN¥30.7m | CN¥86.7m | CN¥91.7m | CN¥121.7m | CN¥145.1m | CN¥277.0m | CN¥184.6m | CN¥144.8m |
| Total liabilities | CN¥267.9m | CN¥297.8m | CN¥244.0m | CN¥267.0m | CN¥277.7m | CN¥404.0m | CN¥393.4m | CN¥658.1m | CN¥91.0m | CN¥134.4m |
| Debt | CN¥181.4m | CN¥211.6m | CN¥166.1m | CN¥132.8m | CN¥133.5m | CN¥133.8m | CN¥134.4m | CN¥120.5m | — | — |
| Shareholders' equity | −CN¥48.6m | −CN¥90.5m | −CN¥24.7m | CN¥74.9m | CN¥193.8m | CN¥114.3m | CN¥225.1m | CN¥400.8m | CN¥391.2m | CN¥220.7m |
| Shares outstanding | 304m | 51m | 51m | 36m | 24m | 20m | 18m | 18m | 17m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥18.3m | −CN¥29.0m | −CN¥53.8m | CN¥4.4m | −CN¥26.6m | −CN¥11.5m | CN¥21.1m | CN¥63.9m | −CN¥88.6m | CN¥17.0m |
| Capital spending | −CN¥54,553 | −CN¥192,603 | −CN¥4.6m | −CN¥770,412 | −CN¥1.6m | −CN¥981,000 | −CN¥6.7m | −CN¥4.9m | −CN¥25.4m | −CN¥17.9m |
| Free cash flow | −CN¥18.3m | −CN¥29.2m | −CN¥58.4m | CN¥3.7m | −CN¥28.2m | −CN¥12.4m | CN¥14.3m | CN¥59.1m | −CN¥114.0m | −CN¥921,000 |
| Dividends paid | — | — | — | — | — | — | — | — | — | −CN¥84.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥25.7m | CN¥33.9m | CN¥58.6m | CN¥69.2m | CN¥35.5m | CN¥51.2m | CN¥30.1m | CN¥75.5m |
| Operating income | −CN¥17.3m | CN¥1.7m | −CN¥6.5m | −CN¥35.4m | −CN¥16.9m | −CN¥47.5m | −CN¥22.9m | −CN¥28.5m |
| Net income | −CN¥13.4m | −CN¥11.5m | −CN¥12.2m | −CN¥41.8m | −CN¥21.1m | −CN¥90.4m | −CN¥28.2m | −CN¥71.8m |
| Diluted earnings per share | -0.06 | -0.04 | -0.04 | -0.82 | -0.41 | -1.79 | -0.56 | -1.98 |
| Cash from operations | −CN¥5.0m | −CN¥4.0m | −CN¥13.0m | −CN¥15.0m | −CN¥13.0m | −CN¥19.0m | −CN¥33.0m | CN¥25.0m |
| Total assets | CN¥193.2m | CN¥213.7m | CN¥241.2m | CN¥202.5m | CN¥252.2m | CN¥214.4m | CN¥252.3m | CN¥292.2m |
| Cash and short-term investments | CN¥9.3m | CN¥17.0m | CN¥13.4m | CN¥13.0m | CN¥27.8m | CN¥30.7m | CN¥43.9m | CN¥74.2m |
| Debt | CN¥69.1m | CN¥181.3m | CN¥249.5m | CN¥211.6m | CN¥223.6m | CN¥166.1m | CN¥114.6m | CN¥113.7m |
| Shareholders' equity | −CN¥59.4m | −CN¥48.6m | −CN¥114.1m | −CN¥90.5m | −CN¥46.3m | −CN¥24.7m | CN¥45.7m | CN¥64.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.3% | -15.3% | -12.2% |
| Operating income | -55.5% | -46.3% | — |
| Net income | -38.6% | -28.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -29.0% | -44.5% | -40.2% | -10.3% |
| Net margin | -43.9% | -75.5% | -57.8% | -22.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.0 | -0.3 | -0.5 | -0.3 | -0.4 | -0.2 | -0.1 | 6.9 | 4.5 |
| Price to sales | 1.3 | 0.2 | 0.8 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-to-1 reverse split · 19 Aug 2025
- 5-to-1 reverse split · 18 Aug 2025
- 10-to-1 reverse split · 29 Jun 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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