N 
0.70
-2.11%
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¥5.05bn
FY2018FY2025
Net income
−CN¥278.6m
FY2018FY2025
Free cash flow
CN¥226.3m
FY2018FY2025
Shareholders' equity
CN¥4.25bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.05bn | CN¥4.92bn | CN¥5.16bn | CN¥5.00bn | CN¥5.01bn | CN¥3.56bn | CN¥2.91bn | CN¥1.27bn |
| Gross profit | CN¥1.39bn | CN¥1.68bn | CN¥1.59bn | CN¥1.76bn | CN¥1.71bn | CN¥1.14bn | CN¥973.0m | CN¥422.6m |
| Research and development | — | — | CN¥49.8m | CN¥47.6m | CN¥37.1m | CN¥21.0m | — | — |
| Operating income | CN¥572.1m | −CN¥358.2m | CN¥910.6m | CN¥609.1m | CN¥821.6m | CN¥588.4m | CN¥81.2m | CN¥6.4m |
| Net income | −CN¥278.6m | −CN¥917.3m | CN¥13.2m | −CN¥546.8m | −CN¥5.27bn | −CN¥235.2m | −CN¥46.2m | −CN¥76.9m |
| Diluted earnings per share | -0.16 | -0.54 | 0.01 | -0.32 | -3.20 | -0.24 | -0.03 | -0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.23bn | CN¥7.18bn | CN¥8.79bn | CN¥8.09bn | CN¥8.54bn | CN¥3.86bn | CN¥2.39bn | CN¥1.57bn |
| Cash and short-term investments | CN¥3.11bn | CN¥2.90bn | CN¥3.10bn | CN¥3.92bn | CN¥4.78bn | CN¥584.6m | CN¥94.7m | CN¥216.5m |
| Total liabilities | CN¥2.00bn | CN¥2.62bn | CN¥3.17bn | CN¥2.53bn | CN¥2.78bn | CN¥4.36bn | CN¥2.56bn | CN¥1.69bn |
| Debt | CN¥1.48bn | CN¥1.45bn | CN¥1.77bn | CN¥1.42bn | CN¥1.45bn | CN¥1.64bn | CN¥1.31bn | CN¥764.6m |
| Shareholders' equity | CN¥4.25bn | CN¥4.58bn | CN¥5.62bn | CN¥5.56bn | CN¥5.76bn | −CN¥494.5m | −CN¥170.3m | −CN¥125.0m |
| Shares outstanding | 1,710m | 1,705m | 1,715m | 1,715m | 1,648m | 999m | 1,715m | 1,715m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥318.8m | CN¥201.6m | CN¥965.3m | CN¥357.3m | CN¥589.7m | CN¥669.2m | CN¥484.5m | CN¥233.9m |
| Capital spending | −CN¥92.5m | −CN¥299.7m | −CN¥630.2m | −CN¥522.3m | −CN¥872.8m | −CN¥283.7m | −CN¥339.0m | −CN¥244.0m |
| Free cash flow | CN¥226.3m | −CN¥98.1m | CN¥335.1m | −CN¥165.1m | −CN¥283.2m | CN¥385.5m | CN¥145.5m | −CN¥10.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.20bn | CN¥2.51bn | CN¥2.54bn | CN¥2.38bn | CN¥1.38bn | CN¥2.54bn | CN¥1.48bn | CN¥2.57bn |
| Gross profit | CN¥597.9m | CN¥713.4m | CN¥675.7m | CN¥544.2m | CN¥317.0m | CN¥610.7m | CN¥355.8m | CN¥742.5m |
| Operating income | CN¥242.7m | CN¥266.6m | CN¥305.4m | CN¥218.6m | CN¥127.3m | CN¥284.2m | CN¥165.5m | CN¥391.7m |
| Net income | −CN¥113.6m | −CN¥142.2m | −CN¥136.4m | −CN¥482.1m | −CN¥280.8m | −CN¥435.2m | −CN¥253.5m | −CN¥52.9m |
| Diluted earnings per share | -0.07 | -0.08 | -0.08 | -0.28 | -0.16 | -0.26 | -0.15 | -0.03 |
| Cash from operations | — | CN¥169.0m | CN¥172.0m | CN¥97.0m | — | CN¥103.0m | CN¥60.0m | CN¥513.0m |
| Capital spending | — | −CN¥83.0m | −CN¥8.0m | −CN¥82.0m | — | −CN¥217.0m | −CN¥126.0m | −CN¥401.0m |
| Free cash flow | — | CN¥86.0m | CN¥164.0m | CN¥15.0m | — | −CN¥114.0m | −CN¥66.0m | CN¥112.0m |
| Total assets | CN¥5.73bn | CN¥6.23bn | CN¥6.80bn | CN¥6.17bn | CN¥7.18bn | CN¥6.61bn | CN¥7.71bn | CN¥7.54bn |
| Cash and short-term investments | CN¥2.92bn | CN¥3.11bn | CN¥3.26bn | CN¥2.49bn | CN¥2.90bn | CN¥2.38bn | CN¥2.86bn | CN¥2.66bn |
| Debt | CN¥254.5m | CN¥1.48bn | CN¥1.50bn | CN¥1.45bn | CN¥434.7m | CN¥1.37bn | CN¥637.8m | CN¥1.77bn |
| Shareholders' equity | CN¥4.05bn | CN¥4.25bn | CN¥4.43bn | CN¥3.93bn | CN¥4.58bn | CN¥4.39bn | CN¥5.11bn | CN¥4.82bn |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.5% | 34.1% | 30.7% | 35.3% | 34.2% | 32.0% |
| Operating margin | -4.6% | -9.0% | 1.4% | -10.2% | -103.3% | -2.0% |
| Net margin | -5.5% | -18.6% | 0.3% | -10.9% | -105.3% | -6.6% |
| Return on equity | -6.6% | -23.3% | 0.3% | -9.8% | -91.5% | 47.6% |
| Return on assets | -4.5% | -14.9% | 0.2% | -6.8% | -61.8% | -6.1% |
| Free cash flow yield | 29.1% | 41.4% | 112.5% | 62.0% | 107.3% | 115.4% |
| Revenue growth | -12.0% | -4.7% | 20.3% | -0.1% | 40.5% | 22.2% |
| Earnings growth | -73.9% | -7036.5% | -102.8% | -89.6% | 2141.8% | 408.8% |
| Current ratio | 3.26x | 2.51x | 2.27x | 3.30x | 3.51x | 0.49x |
| Debt to equity | 0.13x | 0.09x | 0.09x | 0.10x | 0.09x | -0.67x |
| Equity ratio | 68.2% | 63.7% | 64.0% | 68.8% | 67.5% | -12.8% |
| Interest coverage | -5.00x | -6.43x | 0.99x | -4.74x | -47.68x | -0.46x |
| R&D as a share of sales | — | — | 1.0% | 1.0% | 0.7% | 0.6% |
| Buybacks as a share of market value | -0.3% | 0.6% | 0.0% | -4.1% | -65.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.3% | 8.2% | — |
| Operating income | -2.1% | -0.6% | — |
| Net income | -20.1% | 3.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.8% | 31.9% | 32.3% | — |
| Operating margin | 2.1% | 8.6% | 11.0% | — |
| Net margin | -12.0% | -8.6% | -25.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -5.6 | -2.2 | 356.1 | -20.5 | -2.3 |
| Price to sales | 0.3 | 0.4 | 0.9 | 2.3 | 2.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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