W 
0.64
-4.48%
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¥5.01bn
FY2016FY2025
Net income
CN¥67.8m
FY2016FY2025
Free cash flow
−CN¥124.0m
FY2016FY2025
Shareholders' equity
CN¥1.63bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.01bn | CN¥2.63bn | CN¥2.10bn | CN¥2.68bn | CN¥2.44bn | CN¥2.01bn | CN¥2.79bn | CN¥1.80bn | CN¥565.4m | CN¥47.2m |
| Gross profit | CN¥502.7m | CN¥234.0m | CN¥223.3m | CN¥273.0m | CN¥306.6m | CN¥282.6m | CN¥393.8m | CN¥252.8m | CN¥53.6m | −CN¥16.1m |
| Research and development | CN¥191.5m | CN¥92.9m | CN¥80.7m | CN¥100.4m | CN¥78.1m | CN¥85.6m | CN¥52.9m | CN¥30.7m | CN¥18.5m | CN¥11.9m |
| Operating income | CN¥95.5m | CN¥59.4m | CN¥39.4m | CN¥20.9m | CN¥106.7m | CN¥110.7m | CN¥202.7m | CN¥118.6m | CN¥15.0m | −CN¥112.3m |
| Net income | CN¥67.8m | CN¥2.3m | CN¥15.5m | −CN¥150.8m | CN¥72.5m | CN¥77.8m | CN¥123.1m | −CN¥490.8m | −CN¥168.9m | −CN¥114.1m |
| Diluted earnings per share | 0.04 | 0.00 | 0.01 | -0.10 | 0.05 | 0.06 | 0.10 | -0.58 | -0.29 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.30bn | CN¥2.33bn | CN¥1.97bn | CN¥2.23bn | CN¥2.15bn | CN¥1.83bn | CN¥1.85bn | CN¥1.53bn | CN¥379.2m | CN¥42.1m |
| Cash and short-term investments | CN¥640.1m | CN¥591.5m | CN¥524.5m | CN¥641.4m | CN¥467.0m | CN¥228.2m | CN¥304.3m | CN¥353.3m | CN¥13.4m | CN¥20.6m |
| Total liabilities | CN¥1.47bn | CN¥916.2m | CN¥568.8m | CN¥626.7m | CN¥529.1m | CN¥483.0m | CN¥644.6m | CN¥509.3m | CN¥580.0m | CN¥131.6m |
| Debt | CN¥556.1m | CN¥574.9m | CN¥315.8m | CN¥272.3m | CN¥198.0m | CN¥199.2m | CN¥241.2m | CN¥146.0m | CN¥298.8m | CN¥78.6m |
| Shareholders' equity | CN¥1.63bn | CN¥1.33bn | CN¥1.32bn | CN¥1.51bn | CN¥1.62bn | CN¥1.35bn | CN¥1.21bn | CN¥1.02bn | −CN¥200.8m | −CN¥89.3m |
| Shares outstanding | 1,750m | 1,526m | 1,526m | 1,499m | 1,482m | 1,321m | 1,273m | 842m | 592m | 1,273m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥102.6m | −CN¥165.3m | −CN¥65.3m | CN¥10.9m | CN¥104.6m | −CN¥135.0m | CN¥8.2m | −CN¥157.7m | −CN¥203.6m | −CN¥18.9m |
| Capital spending | −CN¥21.4m | −CN¥2.9m | −CN¥430,000 | −CN¥873,246 | −CN¥1.2m | −CN¥570,521 | −CN¥603,122 | −CN¥408,679 | −CN¥270,124 | −CN¥889,547 |
| Free cash flow | −CN¥124.0m | −CN¥168.2m | −CN¥65.7m | CN¥10.0m | CN¥103.4m | −CN¥135.6m | CN¥7.6m | −CN¥158.1m | −CN¥203.8m | −CN¥19.8m |
| Dividends paid | −CN¥5.8m | −CN¥5.1m | −CN¥141,000 | — | — | — | — | −CN¥13.2m | −CN¥13.2m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.46bn | CN¥3.01bn | CN¥1.99bn | CN¥1.40bn | CN¥1.23bn | CN¥1.05bn | CN¥1.22bn | CN¥1.30bn |
| Gross profit | CN¥348.3m | CN¥297.0m | CN¥205.7m | CN¥97.3m | CN¥136.7m | CN¥90.8m | CN¥154.3m | CN¥96.4m |
| Operating income | CN¥97.1m | CN¥14.5m | CN¥80.9m | −CN¥1.7m | CN¥61.0m | −CN¥14.4m | CN¥66.4m | −CN¥72.6m |
| Net income | CN¥65.4m | CN¥10.3m | CN¥57.5m | −CN¥42.6m | CN¥44.9m | −CN¥25.0m | CN¥47.1m | −CN¥219.2m |
| Diluted earnings per share | 0.04 | 0.01 | 0.03 | -0.03 | 0.03 | -0.02 | 0.03 | -0.15 |
| Cash from operations | −CN¥409.0m | CN¥126.0m | −CN¥227.0m | −CN¥133.0m | −CN¥31.0m | −CN¥72.0m | −CN¥3.0m | −CN¥12.0m |
| Capital spending | — | −CN¥2.0m | −CN¥25.0m | −CN¥2.0m | — | — | — | — |
| Free cash flow | — | CN¥124.0m | −CN¥252.0m | −CN¥135.0m | — | — | — | — |
| Total assets | CN¥4.04bn | CN¥3.30bn | CN¥3.12bn | CN¥2.33bn | CN¥2.16bn | CN¥1.97bn | CN¥2.25bn | CN¥2.23bn |
| Cash and short-term investments | CN¥807.9m | CN¥640.1m | CN¥616.0m | CN¥591.5m | CN¥569.7m | CN¥524.5m | CN¥603.7m | CN¥641.4m |
| Debt | CN¥779.0m | CN¥556.1m | CN¥728.3m | CN¥574.9m | CN¥400.0m | CN¥315.8m | CN¥259.6m | CN¥317.1m |
| Shareholders' equity | CN¥2.06bn | CN¥1.63bn | CN¥1.65bn | CN¥1.33bn | CN¥1.36bn | CN¥1.32bn | CN¥1.56bn | CN¥1.51bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.0% | 8.9% | 10.6% | 10.2% | 12.5% | 14.1% |
| Operating margin | 1.9% | 2.3% | 2.1% | 0.8% | 4.4% | 5.4% |
| Net margin | 1.4% | 0.1% | 0.7% | -5.6% | 3.0% | 3.9% |
| Return on equity | 4.2% | 0.2% | 1.2% | -10.0% | 4.5% | 5.8% |
| Return on assets | 2.1% | 0.1% | 0.8% | -6.8% | 3.4% | 4.3% |
| Free cash flow yield | -5.6% | -15.0% | -6.0% | 0.9% | 8.6% | -12.3% |
| Revenue growth | 63.6% | 25.2% | -8.8% | 9.7% | 21.5% | -27.9% |
| Earnings growth | 2469.9% | -85.4% | -112.0% | -307.9% | -6.8% | -36.8% |
| Current ratio | 2.10x | 2.44x | 3.18x | 3.36x | 3.62x | 3.23x |
| Debt to equity | 0.34x | 0.43x | 0.24x | 0.21x | 0.13x | 0.17x |
| Equity ratio | 49.5% | 57.0% | 66.8% | 67.7% | 75.4% | 73.6% |
| Interest coverage | 4.83x | 4.08x | 4.46x | 2.34x | 12.14x | 9.11x |
| R&D as a share of sales | 3.8% | 3.5% | 3.8% | 3.7% | 3.2% | 4.3% |
| Buybacks as a share of market value | -14.7% | 0.0% | -1.8% | -1.1% | -12.2% | -3.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.2% | 20.0% | 75.7% |
| Operating income | 65.8% | -2.9% | — |
| Net income | — | -2.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.7% | 9.9% | 10.8% | 11.3% |
| Operating margin | 2.0% | 1.7% | 2.6% | 2.9% |
| Net margin | 0.9% | -0.5% | 0.5% | -2.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.1 | 108.4 | 13.7 | -3.1 | 8.8 | 7.5 | 16.1 | -4.7 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.7 | 1.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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