S 
17.37
+4.01%
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¥573.2m
FY2021FY2025
Net income
−CN¥97.3m
FY2021FY2025
Free cash flow
−CN¥67.4m
FY2021FY2025
Shareholders' equity
CN¥3.05bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | CN¥573.2m | CN¥373.7m | CN¥286.7m | CN¥241.0m | CN¥203.0m |
| Gross profit | CN¥257.2m | CN¥174.0m | CN¥124.8m | CN¥98.2m | CN¥102.6m |
| Research and development | CN¥133.5m | CN¥71.8m | CN¥70.5m | CN¥52.1m | CN¥54.6m |
| Operating income | −CN¥135.0m | −CN¥91.3m | −CN¥93.2m | −CN¥61.7m | −CN¥43.4m |
| Net income | −CN¥97.3m | −CN¥95.4m | −CN¥103.3m | −CN¥52.5m | −CN¥48.4m |
| Diluted earnings per share | -0.23 | -0.24 | -0.26 | -0.13 | -0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | CN¥3.61bn | CN¥1.50bn | CN¥734.9m | CN¥925.4m | CN¥774.5m |
| Cash and short-term investments | CN¥2.89bn | CN¥979.3m | CN¥285.3m | CN¥488.2m | CN¥491.2m |
| Total liabilities | CN¥559.2m | CN¥527.9m | CN¥361.6m | CN¥470.4m | CN¥406.9m |
| Debt | CN¥92.8m | CN¥226.5m | CN¥67.2m | CN¥32.4m | CN¥8.4m |
| Shareholders' equity | CN¥3.05bn | CN¥967.3m | CN¥373.3m | CN¥455.0m | CN¥367.6m |
| Shares outstanding | 426m | 400m | 400m | 400m | 400m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | −CN¥49.6m | −CN¥91.7m | −CN¥157.7m | −CN¥116.5m | CN¥7.4m |
| Capital spending | −CN¥17.8m | −CN¥14.6m | −CN¥11.4m | −CN¥23.6m | −CN¥51.9m |
| Free cash flow | −CN¥67.4m | −CN¥106.3m | −CN¥169.1m | −CN¥140.1m | −CN¥44.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥363.3m | CN¥388.3m | CN¥174.7m | CN¥258.0m | CN¥121.4m | CN¥173.0m | CN¥133.7m |
| Gross profit | CN¥172.1m | CN¥177.3m | CN¥82.1m | CN¥123.4m | CN¥43.5m | CN¥70.6m | CN¥45.2m |
| Operating income | −CN¥157.4m | −CN¥86.6m | −CN¥90.7m | −CN¥51.2m | −CN¥77.7m | −CN¥56.2m | −CN¥83.6m |
| Net income | −CN¥121.4m | −CN¥48.9m | −CN¥46.6m | −CN¥36.1m | −CN¥60.4m | −CN¥50.5m | −CN¥62.9m |
| Diluted earnings per share | -0.28 | -0.11 | -0.11 | -0.09 | -0.15 | -0.13 | -0.16 |
| Cash from operations | — | CN¥27.0m | −CN¥69.0m | −CN¥21.0m | −CN¥70.0m | −CN¥36.0m | −CN¥139.0m |
| Capital spending | — | −CN¥12.0m | −CN¥3.0m | −CN¥4.0m | −CN¥7.0m | −CN¥4.0m | −CN¥7.0m |
| Free cash flow | — | CN¥15.0m | −CN¥72.0m | −CN¥25.0m | −CN¥77.0m | −CN¥40.0m | −CN¥146.0m |
| Total assets | CN¥3.61bn | CN¥3.61bn | CN¥1.60bn | CN¥1.50bn | CN¥669.1m | CN¥853.3m | — |
| Cash and short-term investments | CN¥2.53bn | CN¥2.89bn | CN¥976.6m | CN¥979.3m | CN¥219.0m | CN¥333.9m | — |
| Debt | CN¥130.6m | CN¥92.8m | CN¥115.6m | CN¥226.5m | CN¥78.5m | CN¥73.0m | — |
| Shareholders' equity | CN¥2.97bn | CN¥3.05bn | CN¥1.18bn | CN¥967.3m | CN¥326.9m | CN¥433.4m | — |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 44.9% | 46.6% | 43.5% | 40.8% | 50.5% |
| Operating margin | -23.5% | -24.4% | -32.5% | -25.6% | -21.4% |
| Net margin | -17.0% | -25.5% | -36.0% | -21.8% | -23.8% |
| Return on equity | -3.2% | -9.9% | -27.7% | -11.5% | -13.2% |
| Return on assets | -2.7% | -6.4% | -14.1% | -5.7% | -6.2% |
| Free cash flow yield | -0.3% | -0.9% | -1.7% | — | — |
| Revenue growth | 31.7% | 30.3% | 19.0% | 38.3% | — |
| Earnings growth | -12.4% | -7.7% | 96.8% | 26.3% | — |
| Current ratio | 9.18x | 3.77x | 3.12x | 2.19x | 2.90x |
| Debt to equity | 0.03x | 0.23x | 0.17x | 0.06x | 0.02x |
| Equity ratio | 84.5% | 64.7% | 50.8% | 49.2% | 47.5% |
| Interest coverage | -38.57x | -50.13x | -47.64x | -30.41x | -48.58x |
| R&D as a share of sales | 23.3% | 19.2% | 24.6% | 21.6% | 26.9% |
| Buybacks as a share of market value | -6.4% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.1% | — | — |
| Operating income | 29.8% | — | — |
| Net income | 22.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.5% | 44.4% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | -143.7 | -87.9 |
| Price to sales | 24.5 | 22.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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