M 
6.79
+2.88%
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¥769.4m
FY2019FY2025
Net income
CN¥46.7m
FY2019FY2025
Free cash flow
−CN¥7.1m
FY2019FY2025
Shareholders' equity
CN¥2.35bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥769.4m | CN¥345.6m | CN¥248.3m | CN¥202.1m | CN¥176.3m | CN¥87.6m | CN¥60.4m |
| Gross profit | CN¥416.2m | CN¥182.8m | CN¥123.2m | CN¥92.7m | CN¥82.5m | CN¥42.5m | CN¥28.0m |
| Research and development | CN¥88.9m | CN¥76.6m | CN¥70.1m | CN¥35.6m | CN¥17.3m | CN¥95.5m | CN¥58.3m |
| Operating income | CN¥51.2m | −CN¥62.5m | −CN¥120.3m | −CN¥37.5m | −CN¥70.1m | −CN¥170.5m | −CN¥97.0m |
| Net income | CN¥46.7m | −CN¥63.1m | −CN¥125.0m | −CN¥40.8m | −CN¥56.1m | −CN¥140.9m | −CN¥91.5m |
| Diluted earnings per share | 0.12 | -0.15 | -0.29 | -0.09 | -0.15 | -0.33 | -0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.69bn | CN¥2.50bn | CN¥2.51bn | CN¥2.67bn | CN¥2.71bn | CN¥905.0m | CN¥308.2m |
| Cash and short-term investments | CN¥1.80bn | CN¥1.99bn | CN¥2.20bn | CN¥2.38bn | CN¥2.50bn | CN¥762.6m | CN¥192.0m |
| Total liabilities | CN¥334.2m | CN¥199.9m | CN¥113.8m | CN¥95.5m | CN¥96.0m | CN¥56.8m | CN¥55.8m |
| Debt | CN¥106.3m | CN¥165,600 | CN¥643,400 | CN¥716,200 | CN¥255,000 | CN¥126,000 | CN¥10.0m |
| Shareholders' equity | CN¥2.35bn | CN¥2.30bn | CN¥2.40bn | CN¥2.58bn | CN¥2.62bn | CN¥848.2m | CN¥252.4m |
| Shares outstanding | 382m | 422m | 426m | 450m | 386m | 424m | 424m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥37.0m | −CN¥140.5m | −CN¥178.1m | −CN¥125.4m | −CN¥51.5m | −CN¥11.1m | −CN¥20.9m |
| Capital spending | −CN¥44.1m | −CN¥96.9m | −CN¥33.4m | −CN¥34.7m | −CN¥21.8m | −CN¥29.9m | −CN¥35.5m |
| Free cash flow | −CN¥7.1m | −CN¥237.4m | −CN¥211.5m | −CN¥160.0m | −CN¥73.3m | −CN¥41.1m | −CN¥56.4m |
| Dividends paid | −CN¥25,761 | −CN¥771,950 | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥475.5m | CN¥483.0m | CN¥143.2m | CN¥194.8m | CN¥150.8m | CN¥142.4m | CN¥129.0m | CN¥118.5m |
| Gross profit | CN¥274.4m | CN¥268.2m | CN¥74.0m | CN¥99.0m | CN¥83.8m | CN¥64.6m | CN¥67.1m | CN¥55.8m |
| Operating income | CN¥46.9m | CN¥54.0m | −CN¥1.4m | −CN¥24.7m | −CN¥37.7m | −CN¥101.6m | −CN¥77.4m | −CN¥88.0m |
| Net income | CN¥46.2m | CN¥49.4m | −CN¥1.3m | −CN¥25.4m | −CN¥37.7m | −CN¥106.4m | −CN¥21.7m | −CN¥31.6m |
| Diluted earnings per share | 0.11 | 0.13 | -0.00 | -0.06 | -0.09 | -0.25 | -0.05 | -0.07 |
| Cash from operations | — | CN¥32.0m | CN¥5.0m | CN¥89.0m | −CN¥44.0m | −CN¥141.0m | −CN¥37.0m | −CN¥107.0m |
| Capital spending | — | −CN¥6.0m | −CN¥42.0m | −CN¥48.0m | −CN¥48.0m | −CN¥28.0m | −CN¥4.0m | −CN¥18.0m |
| Free cash flow | — | CN¥26.0m | −CN¥37.0m | CN¥41.0m | −CN¥92.0m | −CN¥169.0m | −CN¥41.0m | −CN¥125.0m |
| Total assets | CN¥2.72bn | CN¥2.69bn | CN¥2.57bn | CN¥2.15bn | CN¥2.17bn | CN¥2.16bn | CN¥2.64bn | CN¥2.67bn |
| Cash and short-term investments | CN¥1.79bn | CN¥1.80bn | CN¥2.01bn | CN¥1.71bn | CN¥1.81bn | CN¥1.89bn | CN¥2.39bn | CN¥2.38bn |
| Debt | CN¥128.2m | CN¥106.3m | CN¥35.9m | CN¥4.2m | CN¥20.4m | CN¥5.1m | CN¥550,727 | CN¥834,479 |
| Shareholders' equity | CN¥2.37bn | CN¥2.35bn | CN¥2.29bn | CN¥1.97bn | CN¥2.01bn | CN¥2.06bn | CN¥2.55bn | CN¥2.58bn |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 54.1% | 52.9% | 49.6% | 45.9% | 46.8% | 48.5% |
| Operating margin | 2.7% | -38.1% | -78.6% | -69.3% | -31.8% | -194.6% |
| Net margin | 6.1% | -18.3% | -50.3% | -20.2% | -31.8% | -160.8% |
| Return on equity | 2.0% | -3.2% | -6.1% | -1.6% | -2.1% | -16.6% |
| Return on assets | 1.7% | -2.9% | -5.8% | -1.5% | -2.1% | -15.6% |
| Free cash flow yield | 2.7% | -1.3% | -4.3% | -2.6% | -1.0% | 0.6% |
| Revenue growth | 91.2% | 39.2% | 43.1% | 14.6% | 101.1% | 45.1% |
| Earnings growth | -163.6% | -49.5% | 256.7% | -27.3% | -60.2% | 53.9% |
| Current ratio | 6.39x | 11.41x | 21.67x | 26.61x | 27.12x | 14.12x |
| Debt to equity | 0.05x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 87.2% | 92.0% | 95.5% | 96.4% | 96.5% | 93.7% |
| Interest coverage | 39.95x | -194.77x | -623.55x | -818.64x | -2831.53x | -475.55x |
| R&D as a share of sales | 11.6% | 22.2% | 28.2% | 17.6% | 9.8% | 108.9% |
| Buybacks as a share of market value | 9.6% | 0.8% | 5.5% | -16.6% | 8.8% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 56.2% | 54.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 53.7% | 52.1% | 51.4% | — |
| Operating margin | -1.0% | -10.8% | -22.4% | — |
| Net margin | -1.5% | -11.6% | -20.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 58.2 | -38.4 | -19.8 | -98.3 | -159.8 |
| Price to sales | 3.5 | 7.0 | 10.0 | 19.9 | 50.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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