Z 
18.96
-2.22%
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¥1.06bn
FY2019FY2025
Net income
CN¥244.4m
FY2019FY2025
Free cash flow
CN¥268.7m
FY2019FY2025
Shareholders' equity
CN¥3.23bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.06bn | CN¥910.8m | CN¥614.3m | CN¥388.9m | CN¥207.1m | CN¥32.2m | CN¥5.7m |
| Gross profit | CN¥762.9m | CN¥651.7m | CN¥448.1m | CN¥294.1m | CN¥153.5m | CN¥19.0m | CN¥1.4m |
| Research and development | CN¥246.8m | CN¥271.5m | CN¥303.8m | CN¥271.7m | CN¥195.7m | CN¥83.9m | CN¥61.7m |
| Operating income | CN¥196.6m | CN¥70.9m | −CN¥182.2m | −CN¥242.6m | −CN¥247.3m | −CN¥116.6m | −CN¥80.2m |
| Net income | CN¥244.4m | CN¥116.7m | −CN¥91.6m | −CN¥132.2m | −CN¥232.4m | −CN¥116.9m | −CN¥77.6m |
| Diluted earnings per share | 0.76 | 0.36 | -0.28 | -0.40 | -0.70 | -0.36 | -0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.58bn | CN¥4.02bn | CN¥3.93bn | CN¥3.79bn | CN¥3.78bn | CN¥586.6m | CN¥241.0m |
| Cash and short-term investments | CN¥1.73bn | CN¥1.49bn | CN¥1.76bn | CN¥2.17bn | CN¥3.41bn | CN¥369.3m | CN¥114.2m |
| Total liabilities | CN¥344.0m | CN¥409.2m | CN¥382.1m | CN¥185.7m | CN¥120.6m | CN¥92.3m | CN¥48.2m |
| Debt | CN¥62.3m | CN¥104.1m | CN¥62.9m | CN¥14.0m | CN¥9.4m | CN¥34.2m | CN¥23.3m |
| Shareholders' equity | CN¥3.23bn | CN¥3.61bn | CN¥3.55bn | CN¥3.60bn | CN¥3.66bn | CN¥494.3m | CN¥192.8m |
| Shares outstanding | 322m | 328m | 328m | 330m | 330m | 323m | 323m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥377.1m | CN¥202.6m | CN¥114.6m | −CN¥106.3m | −CN¥135.3m | −CN¥95.8m | −CN¥61.8m |
| Capital spending | −CN¥108.3m | −CN¥222.7m | −CN¥222.2m | −CN¥169.1m | −CN¥104.3m | −CN¥52.5m | −CN¥48.4m |
| Free cash flow | CN¥268.7m | −CN¥20.1m | −CN¥107.6m | −CN¥275.4m | −CN¥239.5m | −CN¥148.4m | −CN¥110.2m |
| Dividends paid | −CN¥31.8m | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥623.3m | CN¥575.5m | CN¥482.0m | CN¥484.8m | CN¥426.0m | CN¥346.4m | CN¥267.9m | CN¥211.1m |
| Gross profit | CN¥457.5m | CN¥419.8m | CN¥343.1m | CN¥348.0m | CN¥303.7m | CN¥249.5m | CN¥198.6m | CN¥159.7m |
| Operating income | CN¥175.4m | CN¥116.3m | CN¥80.3m | −CN¥42.6m | CN¥42.6m | −CN¥86.6m | −CN¥95.6m | −CN¥169.8m |
| Net income | CN¥179.2m | CN¥121.1m | CN¥121.2m | CN¥36.5m | CN¥80.2m | −CN¥50.3m | −CN¥41.3m | −CN¥102.5m |
| Diluted earnings per share | 0.56 | 0.38 | 0.38 | 0.11 | 0.24 | -0.15 | -0.13 | -0.31 |
| Cash from operations | — | CN¥230.0m | CN¥167.0m | CN¥81.0m | CN¥121.0m | CN¥136.0m | −CN¥21.0m | −CN¥47.0m |
| Capital spending | — | −CN¥59.0m | −CN¥55.0m | −CN¥80.0m | −CN¥141.0m | −CN¥88.0m | −CN¥133.0m | −CN¥76.0m |
| Free cash flow | — | CN¥171.0m | CN¥112.0m | CN¥1.0m | −CN¥20.0m | CN¥48.0m | −CN¥154.0m | −CN¥123.0m |
| Total assets | CN¥3.73bn | CN¥3.58bn | CN¥4.07bn | CN¥4.02bn | CN¥4.06bn | CN¥3.93bn | CN¥3.84bn | CN¥3.79bn |
| Cash and short-term investments | CN¥1.48bn | CN¥1.73bn | CN¥1.88bn | CN¥1.49bn | CN¥1.36bn | CN¥1.76bn | CN¥1.95bn | CN¥2.17bn |
| Debt | CN¥96.4m | CN¥62.3m | CN¥94.3m | CN¥105.8m | CN¥94.6m | CN¥62.9m | CN¥22.7m | CN¥16.3m |
| Shareholders' equity | CN¥3.00bn | CN¥3.23bn | CN¥3.67bn | CN¥3.61bn | CN¥3.62bn | CN¥3.55bn | CN¥3.59bn | CN¥3.60bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 72.1% | 71.6% | 72.9% | 75.6% | 74.1% | 58.9% |
| Operating margin | 18.8% | 4.6% | -14.7% | -33.8% | -122.6% | -361.2% |
| Net margin | 23.1% | 12.8% | -14.9% | -34.0% | -112.2% | -363.6% |
| Return on equity | 7.6% | 3.2% | -2.6% | -3.7% | -6.4% | -23.7% |
| Return on assets | 6.8% | 2.9% | -2.3% | -3.5% | -6.1% | -19.9% |
| Free cash flow yield | 7.4% | 5.4% | 4.3% | 0.8% | -0.4% | -0.6% |
| Revenue growth | 35.1% | 48.3% | 58.0% | 87.8% | 543.9% | 461.9% |
| Earnings growth | 143.7% | -227.3% | -30.7% | -43.1% | 98.8% | 50.7% |
| Current ratio | 5.98x | 4.58x | 5.40x | 13.56x | 31.14x | 7.17x |
| Debt to equity | 0.02x | 0.03x | 0.02x | 0.00x | 0.00x | 0.08x |
| Equity ratio | 90.4% | 89.8% | 90.3% | 95.1% | 96.8% | 84.3% |
| Interest coverage | 199.51x | 16.64x | -61.94x | -156.28x | -710.64x | -149.85x |
| R&D as a share of sales | 23.3% | 29.8% | 49.5% | 69.9% | 94.5% | 260.8% |
| Buybacks as a share of market value | 2.0% | -0.2% | 0.6% | 0.1% | -2.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 39.6% | 101.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 71.9% | 72.6% | 72.5% | — |
| Operating margin | 13.6% | -5.3% | -16.2% | — |
| Net margin | 18.3% | 4.6% | -6.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 27.3 | 31.1 | -40.4 | -29.3 | -33.1 |
| Price to sales | 6.3 | 4.0 | 6.0 | 9.9 | 37.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 27 May 2026.
| FY2026 | FY2025 | |
|---|---|---|
| Paid in the year | 0.22 | 0.109 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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