B 
1.02
-1.92%
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¥18.1m
FY2019FY2025
Net income
−CN¥216.9m
FY2019FY2025
Free cash flow
−CN¥288.4m
FY2019FY2025
Shareholders' equity
CN¥2.38bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥18.1m | CN¥46.4m | CN¥48.1m | CN¥51.6m | CN¥92.5m | CN¥82.2m | CN¥20.2m |
| Gross profit | — | CN¥46.4m | CN¥48.1m | CN¥51.6m | CN¥92.5m | CN¥82.2m | CN¥20.2m |
| Research and development | CN¥206.7m | CN¥213.3m | CN¥343.8m | CN¥440.6m | CN¥494.6m | CN¥875.8m | CN¥83.8m |
| Operating income | −CN¥295.9m | −CN¥341.1m | −CN¥464.7m | −CN¥513.8m | −CN¥610.5m | −CN¥897.0m | −CN¥525.2m |
| Net income | −CN¥216.9m | −CN¥433.9m | −CN¥149.3m | −CN¥484.3m | −CN¥4.12bn | −CN¥1.21bn | −CN¥516.8m |
| Diluted earnings per share | -0.30 | -0.59 | -0.20 | -0.67 | -6.06 | -1.74 | -0.73 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.36bn | CN¥2.31bn | CN¥2.73bn | CN¥3.39bn | CN¥3.61bn | CN¥1.27bn | CN¥1.04bn |
| Cash and short-term investments | CN¥1.94bn | CN¥1.99bn | CN¥2.27bn | CN¥3.00bn | CN¥3.35bn | CN¥1.05bn | CN¥880.4m |
| Total liabilities | CN¥36.2m | CN¥85.8m | CN¥107.5m | CN¥234.4m | CN¥300.4m | CN¥3.01bn | CN¥1.65bn |
| Debt | CN¥8.9m | CN¥23.9m | CN¥2.7m | CN¥12.7m | CN¥21.6m | CN¥28.3m | CN¥35.1m |
| Shareholders' equity | CN¥2.38bn | CN¥2.27bn | CN¥2.66bn | CN¥3.19bn | CN¥3.34bn | −CN¥1.74bn | −CN¥612.8m |
| Shares outstanding | 719m | 731m | 729m | 725m | 679m | 693m | 706m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥286.6m | −CN¥318.4m | −CN¥594.0m | −CN¥496.3m | −CN¥879.5m | −CN¥403.7m | −CN¥67.3m |
| Capital spending | −CN¥1.9m | −CN¥2.8m | −CN¥49.6m | −CN¥139.3m | −CN¥1.0m | −CN¥1.0m | −CN¥24.1m |
| Free cash flow | −CN¥288.4m | −CN¥321.1m | −CN¥643.6m | −CN¥635.6m | −CN¥880.5m | −CN¥404.7m | −CN¥91.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | CN¥18.3m | CN¥993,000 | CN¥27.4m | CN¥18.9m | CN¥13.9m | CN¥40.1m | CN¥94.4m |
| Gross profit | −CN¥3.8m | CN¥15.4m | CN¥993,000 | CN¥27.4m | CN¥18.9m | CN¥13.9m | CN¥78.8m | CN¥72.9m |
| Operating income | −CN¥148.8m | −CN¥121.6m | −CN¥174.3m | −CN¥157.0m | −CN¥184.1m | −CN¥237.4m | −CN¥266.3m | −CN¥172.4m |
| Net income | −CN¥99.2m | −CN¥68.8m | −CN¥148.1m | −CN¥194.4m | −CN¥239.5m | CN¥12.9m | −CN¥189.9m | −CN¥136.7m |
| Diluted earnings per share | -0.14 | -0.10 | -0.21 | -0.27 | -0.33 | 0.02 | -0.26 | -0.19 |
| Cash from operations | −CN¥131.0m | −CN¥103.0m | −CN¥206.0m | −CN¥125.0m | −CN¥192.0m | −CN¥240.0m | −CN¥353.0m | −CN¥227.0m |
| Capital spending | −CN¥9.0m | −CN¥1.0m | — | −CN¥2.0m | — | −CN¥152.0m | — | −CN¥312.0m |
| Free cash flow | −CN¥140.0m | −CN¥104.0m | — | −CN¥127.0m | — | −CN¥392.0m | — | −CN¥539.0m |
| Total assets | CN¥2.20bn | CN¥2.36bn | CN¥2.49bn | CN¥2.31bn | CN¥2.47bn | CN¥2.73bn | CN¥3.20bn | CN¥3.39bn |
| Cash and short-term investments | CN¥1.77bn | CN¥1.94bn | CN¥2.07bn | CN¥1.99bn | CN¥2.04bn | CN¥2.27bn | CN¥2.74bn | CN¥3.00bn |
| Debt | CN¥4.0m | CN¥8.9m | CN¥7.4m | CN¥23.9m | CN¥16.8m | CN¥2.7m | CN¥8.0m | CN¥12.7m |
| Shareholders' equity | CN¥2.22bn | CN¥2.38bn | CN¥2.49bn | CN¥2.27bn | CN¥2.44bn | CN¥2.66bn | CN¥3.13bn | CN¥3.19bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -29.5% | -26.1% | — |
| Operating income | -16.8% | -19.9% | — |
| Net income | -23.5% | -29.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -988.0% | -984.0% | -921.4% | — |
| Net margin | -1009.3% | -782.2% | -1950.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -4.0 | -1.5 | -9.6 | -9.6 | -4.7 |
| Price to sales | 48.0 | 13.6 | 29.9 | 89.5 | 209.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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