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6.26
+2.12%
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¥910.5m
FY2016FY2025
Net income
CN¥140.4m
FY2016FY2025
Free cash flow
−CN¥232.9m
FY2016FY2025
Shareholders' equity
CN¥10.93bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥910.5m | CN¥266.4m | CN¥174.4m | CN¥133.4m | CN¥73.1m | — | — | — | — | CN¥752.9m |
| Research and development | CN¥645.7m | CN¥418.2m | CN¥480.7m | CN¥359.0m | CN¥247.6m | — | — | — | — | — |
| Operating income | −CN¥578.2m | −CN¥684.2m | −CN¥722.3m | −CN¥525.3m | −CN¥348.7m | −CN¥4.7m | −CN¥11.5m | −CN¥3.5m | −CN¥19.4m | −CN¥2.01bn |
| Net income | CN¥140.4m | −CN¥1.52bn | −CN¥1.91bn | −CN¥1.44bn | −CN¥2.49bn | −CN¥32.9m | −CN¥42.0m | −CN¥17.1m | −CN¥31.0m | −CN¥2.06bn |
| Diluted earnings per share | 0.03 | -0.48 | -3.96 | -0.59 | -1.03 | -0.01 | -0.02 | -0.01 | -0.01 | -0.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.90bn | CN¥5.07bn | CN¥4.66bn | CN¥4.32bn | CN¥5.10bn | CN¥7.7m | CN¥9.8m | CN¥8.9m | CN¥2.0m | CN¥20.0m |
| Cash and short-term investments | CN¥8.23bn | CN¥3.61bn | CN¥3.29bn | CN¥3.47bn | CN¥4.46bn | CN¥7.7m | CN¥9.8m | CN¥8.9m | CN¥1.8m | CN¥2.1m |
| Total liabilities | CN¥916.4m | CN¥422.1m | CN¥13.10bn | CN¥9.63bn | CN¥9.30bn | CN¥257.0m | CN¥255.6m | CN¥223.6m | CN¥189.5m | CN¥190.4m |
| Debt | CN¥434.1m | CN¥148.8m | CN¥11.04bn | CN¥9.45bn | CN¥7.83bn | CN¥174.5m | CN¥185.2m | CN¥181.9m | CN¥173.2m | CN¥185.4m |
| Shareholders' equity | CN¥10.93bn | CN¥4.62bn | −CN¥8.46bn | −CN¥5.33bn | −CN¥4.20bn | −CN¥249.3m | −CN¥245.7m | −CN¥214.7m | −CN¥187.5m | −CN¥170.4m |
| Shares outstanding | 5,153m | 3,130m | 484m | 2,420m | 2,411m | 2,329m | 2,329m | 2,329m | 2,329m | 2,329m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥162.6m | −CN¥478.7m | −CN¥660.9m | −CN¥429.1m | −CN¥295.5m | — | CN¥762,755 | CN¥6.7m | −CN¥1.3m | — |
| Capital spending | −CN¥70.3m | −CN¥58.1m | −CN¥152.1m | −CN¥198.7m | −CN¥190.6m | — | — | — | −CN¥22,126 | — |
| Free cash flow | −CN¥232.9m | −CN¥536.8m | −CN¥813.1m | −CN¥627.8m | −CN¥486.1m | — | CN¥762,755 | CN¥6.7m | −CN¥1.3m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥452.1m | CN¥327.0m | CN¥602.1m | CN¥163.8m | CN¥102.6m | CN¥59.8m | CN¥94.5m | CN¥93.1m |
| Operating income | −CN¥463.1m | −CN¥542.9m | CN¥38.1m | −CN¥291.3m | −CN¥392.9m | −CN¥228.7m | −CN¥287.3m | −CN¥506.6m |
| Net income | −CN¥289.3m | CN¥46.9m | CN¥96.4m | −CN¥279.6m | −CN¥1.24bn | −CN¥720.3m | −CN¥1.30bn | −CN¥713.9m |
| Diluted earnings per share | -0.07 | 0.01 | 0.02 | -0.09 | -0.40 | -0.23 | -2.69 | -1.47 |
| Cash from operations | −CN¥430.0m | CN¥104.0m | −CN¥277.0m | −CN¥179.0m | −CN¥299.0m | −CN¥174.0m | −CN¥312.0m | −CN¥298.0m |
| Capital spending | −CN¥57.0m | −CN¥35.0m | −CN¥36.0m | −CN¥26.0m | −CN¥32.0m | −CN¥18.0m | −CN¥94.0m | −CN¥42.0m |
| Free cash flow | −CN¥487.0m | CN¥69.0m | −CN¥313.0m | −CN¥205.0m | −CN¥331.0m | −CN¥192.0m | −CN¥406.0m | −CN¥340.0m |
| Total assets | CN¥14.70bn | CN¥11.90bn | CN¥8.99bn | CN¥4.35bn | CN¥4.46bn | CN¥5.20bn | CN¥4.66bn | — |
| Cash and short-term investments | CN¥10.10bn | CN¥8.23bn | CN¥6.19bn | CN¥3.10bn | CN¥3.39bn | CN¥3.94bn | CN¥3.29bn | CN¥4.06bn |
| Debt | CN¥3.21bn | CN¥516.3m | CN¥426.3m | CN¥148.8m | CN¥163.6m | CN¥102.7m | CN¥138.3m | — |
| Shareholders' equity | CN¥10.48bn | CN¥10.93bn | CN¥8.15bn | CN¥3.96bn | CN¥4.12bn | CN¥4.79bn | −CN¥8.46bn | −CN¥6.18bn |
Financial ratios
Data as of 19 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -63.5% | -256.8% | -414.1% | -393.9% | -476.8% | — | — | 24.4% | — | — | — |
| Net margin | 15.4% | -569.2% | -1097.6% | -1078.7% | -3403.4% | — | — | -273.7% | — | — | — |
| Return on equity | 1.3% | -38.3% | 26.3% | 27.0% | 59.2% | 13.2% | — | — | — | — | — |
| Return on assets | 1.2% | -34.8% | -47.8% | -33.3% | -48.8% | -429.1% | — | — | — | — | — |
| Free cash flow yield | -0.2% | -1.7% | -11.5% | — | — | — | — | — | 2.0% | 2.1% | 2.3% |
| Revenue growth | 193.5% | 52.8% | 30.8% | 112.3% | — | — | — | -47.9% | -6.1% | — | — |
| Earnings growth | -107.9% | -20.8% | 33.1% | -32.7% | 7456.5% | -21.5% | — | — | — | — | — |
| Current ratio | 14.77x | 11.85x | 9.90x | 18.20x | 24.37x | 0.03x | — | — | — | — | — |
| Debt to equity | 0.04x | 0.02x | -1.50x | -1.76x | -0.01x | -0.70x | — | — | — | — | — |
| Equity ratio | 91.8% | 91.0% | -181.4% | -123.4% | -82.4% | -3247.6% | — | — | — | — | — |
| Interest coverage | -54.40x | -101.26x | -75.44x | -91.42x | -83.76x | -0.35x | — | — | — | — | — |
| R&D as a share of sales | 70.9% | 157.0% | 275.6% | 269.2% | 338.5% | — | — | — | 0.9% | — | — |
| Buybacks as a share of market value | -64.7% | -546.7% | 79.2% | — | — | — | 0.0% | — | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 89.7% | — | -4.5% |
| Operating income | 3.2% | 161.4% | — |
| Net income | — | — | -4.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -107.3% | -169.1% | — | — |
| Net margin | -116.9% | -318.5% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 300.8 | -10.7 |
| Price to sales | 46.4 | 60.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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