B 
1.41
+1.44%
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¥3.21bn
FY2019FY2025
Net income
−CN¥77.9m
FY2019FY2025
Free cash flow
CN¥69.0m
FY2019FY2025
Shareholders' equity
CN¥1.38bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.21bn | CN¥2.92bn | CN¥2.67bn | CN¥2.52bn | CN¥3.12bn | CN¥2.21bn | CN¥3.18bn |
| Gross profit | CN¥1.19bn | CN¥1.04bn | CN¥1.09bn | CN¥1.08bn | CN¥1.28bn | CN¥650.4m | CN¥1.55bn |
| Research and development | CN¥17.0m | CN¥25.0m | CN¥29.0m | CN¥31.6m | CN¥42.8m | CN¥48.3m | CN¥66.7m |
| Operating income | −CN¥74.9m | −CN¥189.8m | −CN¥308.5m | −CN¥261.0m | −CN¥204.2m | −CN¥1.32bn | CN¥127.7m |
| Net income | −CN¥77.9m | −CN¥197.3m | −CN¥327.3m | −CN¥284.5m | −CN¥215.4m | −CN¥1.37bn | CN¥52.6m |
| Diluted earnings per share | -0.08 | -0.25 | -0.43 | -0.36 | -0.28 | -1.75 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.03bn | CN¥1.29bn | CN¥1.51bn | CN¥1.52bn | CN¥2.26bn | CN¥2.56bn | CN¥4.23bn |
| Cash and short-term investments | CN¥840.5m | CN¥333.4m | CN¥347.6m | CN¥128.2m | CN¥203.7m | CN¥376.2m | CN¥592.7m |
| Total liabilities | CN¥639.0m | CN¥481.3m | CN¥540.7m | CN¥516.9m | CN¥759.8m | CN¥849.8m | CN¥1.14bn |
| Debt | CN¥81.6m | CN¥129.5m | CN¥107.6m | CN¥129.7m | CN¥179.5m | CN¥252.7m | CN¥286.1m |
| Shareholders' equity | CN¥1.38bn | CN¥795.1m | CN¥948.2m | CN¥980.5m | CN¥1.47bn | CN¥1.69bn | CN¥3.05bn |
| Shares outstanding | 988m | 780m | 765m | 780m | 780m | 780m | 780m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥114.0m | −CN¥23.1m | CN¥106.6m | CN¥153.9m | CN¥208.4m | −CN¥37.2m | CN¥714.3m |
| Capital spending | −CN¥45.1m | −CN¥1.4m | −CN¥66.3m | −CN¥145.9m | −CN¥260.7m | −CN¥94.6m | −CN¥559.4m |
| Free cash flow | CN¥69.0m | −CN¥24.5m | CN¥40.3m | CN¥8.0m | −CN¥52.3m | −CN¥131.9m | CN¥154.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.47bn | CN¥1.67bn | CN¥1.52bn | CN¥1.58bn | CN¥917.1m | CN¥1.34bn | CN¥783.1m | CN¥1.42bn |
| Gross profit | CN¥610.3m | CN¥622.6m | CN¥559.8m | CN¥555.1m | CN¥323.2m | CN¥485.9m | CN¥283.3m | CN¥569.2m |
| Operating income | −CN¥59.5m | −CN¥28.2m | −CN¥38.7m | −CN¥91.4m | −CN¥53.2m | −CN¥85.4m | −CN¥49.8m | −CN¥160.8m |
| Net income | −CN¥73.0m | −CN¥42.1m | −CN¥37.2m | −CN¥96.5m | −CN¥56.2m | −CN¥100.7m | −CN¥58.7m | −CN¥174.3m |
| Diluted earnings per share | -0.07 | -0.04 | -0.04 | -0.12 | -0.07 | -0.13 | -0.08 | -0.23 |
| Cash from operations | CN¥22.0m | CN¥44.0m | CN¥75.0m | −CN¥112.0m | −CN¥56.0m | CN¥85.0m | CN¥42.0m | −CN¥79.0m |
| Capital spending | −CN¥132.0m | −CN¥42.0m | −CN¥3.0m | −CN¥15.0m | −CN¥7.0m | −CN¥16.0m | −CN¥8.0m | −CN¥3.0m |
| Free cash flow | −CN¥110.0m | CN¥2.0m | CN¥72.0m | −CN¥127.0m | −CN¥63.0m | CN¥69.0m | CN¥34.0m | −CN¥82.0m |
| Total assets | CN¥1.95bn | CN¥2.03bn | CN¥1.68bn | CN¥1.29bn | CN¥1.50bn | CN¥1.51bn | CN¥1.76bn | CN¥1.51bn |
| Cash and short-term investments | CN¥707.8m | CN¥840.5m | CN¥571.4m | CN¥333.4m | CN¥388.3m | CN¥424.8m | CN¥494.7m | CN¥347.6m |
| Debt | CN¥113.3m | CN¥81.6m | CN¥125.3m | CN¥129.5m | CN¥133.7m | CN¥115.1m | CN¥104.1m | CN¥107.6m |
| Shareholders' equity | CN¥1.29bn | CN¥1.38bn | CN¥1.06bn | CN¥795.1m | CN¥925.9m | CN¥874.9m | CN¥1.02bn | CN¥948.2m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 37.1% | 35.7% | 40.7% | 42.7% | 41.1% | 29.4% |
| Operating margin | -2.4% | -4.7% | -11.4% | -9.8% | -6.4% | -59.9% |
| Net margin | -2.4% | -6.8% | -12.2% | -11.3% | -6.9% | -61.6% |
| Return on equity | -5.7% | -24.8% | -34.5% | -29.0% | -14.6% | -80.8% |
| Return on assets | -3.8% | -15.3% | -21.6% | -18.7% | -9.6% | -53.3% |
| Free cash flow yield | 9.9% | -2.0% | 16.2% | 27.5% | — | — |
| Revenue growth | -5.5% | 9.2% | 6.1% | -5.9% | 40.7% | -30.3% |
| Earnings growth | -66.1% | -39.7% | 15.0% | 53.8% | -84.2% | -2697.3% |
| Current ratio | 2.33x | 1.55x | 1.47x | 1.05x | 1.29x | 1.68x |
| Debt to equity | 0.06x | 0.15x | 0.10x | 0.11x | 0.11x | 0.15x |
| Equity ratio | 67.9% | 61.8% | 62.7% | 64.6% | 65.3% | 66.0% |
| Interest coverage | -13.28x | -21.35x | -35.51x | -18.50x | -12.66x | -35.22x |
| R&D as a share of sales | 0.5% | 0.9% | 1.1% | 1.3% | 1.4% | 2.2% |
| Buybacks as a share of market value | -26.7% | -2.0% | 2.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.4% | 7.7% | — |
| Operating income | -34.0% | -43.7% | — |
| Net income | -35.1% | -43.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.4% | 38.9% | 38.0% | — |
| Operating margin | -4.3% | -7.4% | -14.2% | — |
| Net margin | -4.5% | -7.8% | -14.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -26.7 | -11.6 | -14.5 |
| Price to sales | 0.7 | 0.8 | 1.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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