J 
2.51
+0.40%
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¥276.3m
FY2018FY2025
Net income
−CN¥540.9m
FY2018FY2025
Free cash flow
−CN¥78.5m
FY2018FY2025
Shareholders' equity
CN¥556.5m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥276.3m | CN¥135.2m | CN¥148.5m | CN¥145.7m | CN¥30.8m | — | CN¥5.5m | CN¥215,000 |
| Research and development | CN¥141.6m | CN¥241.8m | CN¥353.4m | CN¥407.8m | CN¥414.4m | CN¥225.2m | CN¥136.1m | CN¥76.0m |
| Operating income | −CN¥241.7m | −CN¥392.4m | −CN¥674.7m | −CN¥855.9m | −CN¥759.1m | −CN¥440.8m | −CN¥203.5m | −CN¥117.0m |
| Net income | −CN¥540.9m | −CN¥504.6m | −CN¥656.2m | −CN¥846.1m | −CN¥702.3m | −CN¥1.66bn | −CN¥633.3m | −CN¥272.6m |
| Diluted earnings per share | -1.30 | -1.22 | -1.59 | -2.05 | -1.74 | -8.38 | -9.74 | -0.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥987.3m | CN¥1.68bn | CN¥2.15bn | CN¥2.79bn | CN¥3.12bn | CN¥3.78bn | CN¥668.6m | CN¥340.8m |
| Cash and short-term investments | CN¥503.3m | CN¥762.5m | CN¥1.01bn | CN¥1.39bn | CN¥1.84bn | CN¥2.63bn | CN¥255.0m | CN¥133.7m |
| Total liabilities | CN¥430.8m | CN¥511.2m | CN¥462.3m | CN¥437.1m | CN¥325.7m | CN¥349.8m | CN¥1.61bn | CN¥654.0m |
| Debt | CN¥262.7m | CN¥422.4m | CN¥318.8m | CN¥279.1m | CN¥147.0m | CN¥123.6m | CN¥77.8m | CN¥58.7m |
| Shareholders' equity | CN¥556.5m | CN¥1.17bn | CN¥1.68bn | CN¥2.35bn | CN¥2.79bn | CN¥3.43bn | −CN¥942.3m | −CN¥313.2m |
| Shares outstanding | 416m | 414m | 412m | 412m | 404m | 199m | 65m | 376m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥76.8m | −CN¥284.9m | −CN¥398.4m | −CN¥536.7m | −CN¥561.2m | −CN¥261.0m | −CN¥188.9m | −CN¥106.2m |
| Capital spending | −CN¥1.6m | −CN¥13.2m | −CN¥14.6m | −CN¥76.9m | −CN¥73.1m | −CN¥124.2m | −CN¥101.9m | −CN¥44.1m |
| Free cash flow | −CN¥78.5m | −CN¥298.1m | −CN¥413.0m | −CN¥613.6m | −CN¥634.3m | −CN¥385.2m | −CN¥290.9m | −CN¥150.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥111.5m | CN¥174.3m | CN¥106.3m | CN¥61.0m | CN¥74.2m | CN¥73.6m | CN¥87.7m | CN¥79.7m |
| Operating income | −CN¥93.1m | −CN¥178.5m | −CN¥117.6m | CN¥211.5m | −CN¥211.5m | −CN¥341.5m | −CN¥308.5m | −CN¥356.3m |
| Net income | −CN¥50.5m | −CN¥283.2m | −CN¥267.3m | −CN¥299.4m | −CN¥205.3m | −CN¥331.2m | −CN¥380.4m | −CN¥416.9m |
| Diluted earnings per share | -0.12 | -0.68 | -0.64 | -0.72 | -0.50 | -0.80 | -0.92 | -1.01 |
| Cash from operations | — | −CN¥21.0m | −CN¥54.0m | −CN¥124.0m | −CN¥160.0m | −CN¥160.0m | −CN¥238.0m | −CN¥166.0m |
| Capital spending | — | −CN¥1.0m | — | −CN¥2.0m | −CN¥2.0m | −CN¥5.0m | −CN¥6.0m | −CN¥49.0m |
| Free cash flow | — | −CN¥22.0m | — | −CN¥126.0m | −CN¥162.0m | −CN¥165.0m | −CN¥244.0m | −CN¥215.0m |
| Total assets | CN¥833.0m | CN¥987.3m | CN¥1.42bn | CN¥1.44bn | CN¥1.69bn | CN¥1.83bn | CN¥2.86bn | CN¥3.13bn |
| Cash and short-term investments | CN¥392.0m | CN¥503.3m | CN¥647.0m | CN¥651.5m | CN¥742.5m | CN¥864.2m | CN¥1.37bn | CN¥1.55bn |
| Debt | CN¥189.1m | CN¥262.6m | CN¥372.5m | CN¥360.9m | CN¥325.1m | CN¥272.4m | CN¥390.6m | CN¥279.1m |
| Shareholders' equity | CN¥452.3m | CN¥556.5m | CN¥908.6m | CN¥999.0m | CN¥1.27bn | CN¥1.44bn | CN¥2.31bn | CN¥2.64bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.8% | — | — |
| Operating income | -34.4% | -11.3% | — |
| Net income | -13.9% | -20.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -154.1% | -306.7% | — | — |
| Net margin | -254.1% | -361.0% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -1.7 | -0.9 | -1.2 | -1.8 | -6.7 | -2.7 |
| Price to sales | 3.3 | 3.4 | 5.4 | 10.6 | 152.2 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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