B 
41.70
+0.29%
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¥1.61bn
FY2020FY2025
Net income
CN¥201.7m
FY2020FY2025
Free cash flow
CN¥329.0m
FY2020FY2025
Shareholders' equity
CN¥2.53bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥1.61bn | CN¥980.5m | CN¥716.9m | CN¥533.9m | CN¥354.6m | CN¥253.5m |
| Gross profit | CN¥1.22bn | CN¥761.5m | CN¥506.0m | CN¥391.8m | CN¥247.4m | CN¥167.0m |
| Research and development | CN¥510.3m | CN¥323.9m | CN¥474.4m | CN¥699.2m | CN¥558.5m | CN¥276.3m |
| Operating income | CN¥324.5m | CN¥128.7m | −CN¥290.5m | −CN¥604.6m | −CN¥518.7m | −CN¥362.6m |
| Net income | CN¥201.7m | CN¥33.5m | −CN¥383.0m | −CN¥602.2m | −CN¥545.6m | −CN¥543.0m |
| Diluted earnings per share | 0.50 | 0.08 | -0.96 | -1.56 | -1.50 | -1.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥4.34bn | CN¥2.81bn | CN¥2.85bn | CN¥3.26bn | CN¥2.68bn | CN¥2.33bn |
| Cash and short-term investments | CN¥1.82bn | CN¥444.0m | CN¥475.3m | CN¥712.0m | CN¥659.8m | CN¥957.4m |
| Total liabilities | CN¥1.80bn | CN¥1.84bn | CN¥1.93bn | CN¥1.92bn | CN¥1.22bn | CN¥868.3m |
| Debt | CN¥680.4m | CN¥570.3m | CN¥544.1m | CN¥415.3m | CN¥89.8m | CN¥80.9m |
| Shareholders' equity | CN¥2.53bn | CN¥971.5m | CN¥915.4m | CN¥1.34bn | CN¥1.45bn | CN¥1.45bn |
| Shares outstanding | 400m | 398m | 398m | 387m | 364m | 397m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | CN¥431.3m | CN¥211.2m | −CN¥89.3m | −CN¥353.2m | −CN¥426.1m | −CN¥225.3m |
| Capital spending | −CN¥102.3m | −CN¥37.1m | −CN¥147.5m | −CN¥280.3m | −CN¥231.4m | −CN¥306.4m |
| Free cash flow | CN¥329.0m | CN¥174.1m | −CN¥236.8m | −CN¥633.6m | −CN¥657.5m | −CN¥531.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.08bn | CN¥882.7m | CN¥723.3m | CN¥570.0m | CN¥410.5m | CN¥239.1m | CN¥390.1m | CN¥227.2m |
| Gross profit | CN¥857.5m | CN¥655.6m | CN¥562.3m | CN¥463.7m | CN¥312.0m | CN¥181.7m | CN¥274.6m | CN¥159.9m |
| Operating income | CN¥310.1m | CN¥199.4m | CN¥125.1m | CN¥149.6m | CN¥14.7m | CN¥8.6m | −CN¥135.3m | −CN¥78.8m |
| Net income | CN¥277.0m | CN¥145.8m | CN¥55.9m | CN¥84.2m | −CN¥50.7m | −CN¥29.5m | −CN¥193.1m | −CN¥112.5m |
| Diluted earnings per share | 0.62 | 0.36 | 0.14 | 0.21 | -0.13 | -0.07 | -0.48 | -0.28 |
| Cash from operations | CN¥291.0m | CN¥187.0m | CN¥236.0m | CN¥181.0m | CN¥29.0m | CN¥17.0m | −CN¥68.0m | −CN¥34.0m |
| Capital spending | −CN¥253.0m | −CN¥64.0m | −CN¥36.0m | −CN¥14.0m | −CN¥22.0m | −CN¥13.0m | −CN¥42.0m | −CN¥21.0m |
| Free cash flow | CN¥38.0m | CN¥123.0m | CN¥200.0m | CN¥167.0m | CN¥7.0m | CN¥4.0m | −CN¥110.0m | −CN¥55.0m |
| Total assets | CN¥4.24bn | CN¥4.34bn | CN¥2.90bn | CN¥2.42bn | CN¥2.43bn | CN¥2.83bn | CN¥2.45bn | CN¥2.85bn |
| Cash and short-term investments | CN¥1.21bn | CN¥1.82bn | CN¥567.1m | CN¥381.2m | CN¥391.9m | CN¥494.0m | CN¥408.1m | CN¥505.6m |
| Debt | CN¥270.8m | CN¥680.4m | CN¥715.4m | CN¥570.3m | CN¥575.2m | CN¥287.3m | CN¥544.1m | CN¥236.7m |
| Shareholders' equity | CN¥2.82bn | CN¥2.53bn | CN¥1.04bn | CN¥834.1m | CN¥739.7m | CN¥861.6m | CN¥785.9m | CN¥915.4m |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 75.8% | 77.7% | 70.6% | 73.4% | 69.8% | 65.9% |
| Operating margin | 20.2% | 13.1% | -40.5% | -113.2% | -146.3% | -143.0% |
| Net margin | 12.6% | 3.4% | -53.4% | -112.8% | -153.9% | -214.2% |
| Return on equity | 8.0% | 4.0% | -48.7% | -52.5% | -43.7% | -37.4% |
| Return on assets | 4.7% | 1.4% | -15.6% | -21.5% | -23.7% | -23.3% |
| Free cash flow yield | 1.7% | 0.9% | 0.2% | -0.2% | -0.7% | — |
| Revenue growth | 40.6% | 36.8% | 34.3% | 50.6% | 39.8% | — |
| Earnings growth | 416.4% | -108.8% | -36.4% | 10.4% | 0.5% | — |
| Current ratio | 2.31x | 1.53x | 1.25x | 1.52x | 1.96x | 3.49x |
| Debt to equity | 0.19x | 0.50x | 0.48x | 0.20x | 0.10x | 0.27x |
| Equity ratio | 58.4% | 34.5% | 32.1% | 40.9% | 54.2% | 62.5% |
| Interest coverage | 3.92x | 1.40x | -2.91x | -10.77x | -13.16x | -16.09x |
| R&D as a share of sales | 31.8% | 33.0% | 66.2% | 131.0% | 157.5% | 109.0% |
| Buybacks as a share of market value | -0.6% | 0.1% | -2.9% | -6.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 48.3% | 60.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 76.5% | 75.0% | 74.0% | — |
| Operating margin | 17.5% | -11.5% | -29.8% | — |
| Net margin | 9.1% | -19.5% | -41.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 61.0 | 86.5 | -10.8 | -14.3 |
| Price to sales | 8.4 | 3.5 | 7.0 | 19.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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