L 
22.10
-2.47%
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¥2.79bn
FY2019FY2025
Net income
CN¥15.8m
FY2019FY2025
Free cash flow
CN¥194.6m
FY2019FY2025
Shareholders' equity
CN¥870.2m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.79bn | CN¥2.37bn | CN¥1.79bn | CN¥1.66bn | CN¥1.33bn | CN¥1.02bn | CN¥500.3m |
| Gross profit | CN¥289.3m | CN¥196.4m | CN¥147.6m | CN¥199.3m | CN¥193.1m | CN¥146.9m | CN¥80.1m |
| Research and development | CN¥25.5m | CN¥25.1m | CN¥25.5m | CN¥27.5m | CN¥18.3m | CN¥13.7m | CN¥12.0m |
| Operating income | CN¥13.3m | −CN¥80.9m | −CN¥92.8m | CN¥138.1m | CN¥16.5m | CN¥20.3m | −CN¥53.1m |
| Net income | CN¥15.8m | −CN¥57.0m | −CN¥131.3m | CN¥99.9m | −CN¥448.7m | −CN¥177.1m | −CN¥60.3m |
| Diluted earnings per share | 0.05 | -0.18 | -0.43 | 0.38 | -1.45 | -0.50 | -0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.13bn | CN¥1.72bn | CN¥1.96bn | CN¥1.82bn | CN¥1.37bn | CN¥941.1m | CN¥629.7m |
| Cash and short-term investments | CN¥784.9m | CN¥402.4m | CN¥536.7m | CN¥533.0m | CN¥138.2m | CN¥80.4m | CN¥75.9m |
| Total liabilities | CN¥1.26bn | CN¥1.01bn | CN¥1.10bn | CN¥878.7m | CN¥2.11bn | CN¥1.11bn | CN¥620.1m |
| Debt | CN¥980.3m | CN¥821.6m | CN¥710.3m | CN¥563.8m | CN¥562.7m | CN¥327.7m | CN¥207.1m |
| Shareholders' equity | CN¥870.2m | CN¥714.3m | CN¥858.9m | CN¥941.4m | −CN¥734.9m | −CN¥169.9m | CN¥9.0m |
| Shares outstanding | 335m | 308m | 305m | 264m | 309m | 353m | 353m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥524.4m | CN¥51.4m | CN¥164.5m | CN¥399.2m | CN¥325.1m | CN¥109.9m | CN¥58.7m |
| Capital spending | −CN¥329.8m | −CN¥298.7m | −CN¥324.0m | −CN¥382.7m | −CN¥514.6m | −CN¥312.9m | −CN¥211.6m |
| Free cash flow | CN¥194.6m | −CN¥247.2m | −CN¥159.5m | CN¥16.5m | −CN¥189.5m | −CN¥203.0m | −CN¥152.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.26bn | CN¥1.49bn | CN¥1.30bn | CN¥1.43bn | CN¥942.6m | CN¥970.7m | CN¥959.0m | CN¥944.6m |
| Gross profit | CN¥211.0m | CN¥170.5m | CN¥118.8m | CN¥103.5m | CN¥92.9m | CN¥77.7m | CN¥81.5m | CN¥116.2m |
| Operating income | CN¥82.5m | CN¥33.3m | −CN¥20.1m | −CN¥2.8m | −CN¥23.9m | −CN¥65.1m | −CN¥51.5m | −CN¥30.1m |
| Net income | CN¥24.6m | CN¥9.2m | CN¥6.6m | −CN¥17.2m | −CN¥39.8m | −CN¥88.9m | −CN¥49.4m | CN¥123.3m |
| Diluted earnings per share | 0.07 | 0.03 | 0.02 | -0.06 | -0.13 | -0.29 | -0.16 | 0.47 |
| Cash from operations | — | CN¥331.0m | CN¥221.0m | CN¥1.0m | CN¥58.0m | CN¥108.0m | CN¥53.0m | CN¥149.0m |
| Capital spending | — | −CN¥179.0m | −CN¥160.0m | −CN¥174.0m | −CN¥168.0m | −CN¥242.0m | −CN¥115.0m | −CN¥160.0m |
| Free cash flow | — | CN¥152.0m | CN¥61.0m | −CN¥173.0m | −CN¥110.0m | −CN¥134.0m | −CN¥62.0m | −CN¥11.0m |
| Total assets | CN¥2.82bn | CN¥2.13bn | CN¥2.11bn | CN¥1.72bn | CN¥1.75bn | CN¥1.68bn | CN¥1.88bn | CN¥1.82bn |
| Cash and short-term investments | CN¥630.9m | CN¥784.9m | CN¥674.7m | CN¥402.4m | CN¥541.0m | CN¥460.2m | CN¥532.9m | CN¥533.0m |
| Debt | CN¥1.09bn | CN¥980.3m | CN¥1.02bn | CN¥821.6m | CN¥859.2m | CN¥710.3m | CN¥721.8m | CN¥481.3m |
| Shareholders' equity | CN¥827.6m | CN¥870.2m | CN¥850.7m | CN¥714.3m | CN¥715.1m | CN¥736.6m | CN¥933.6m | CN¥941.4m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 10.4% | 8.3% | 8.2% | 12.0% | 14.5% | 14.4% |
| Operating margin | 0.5% | -3.4% | -4.8% | 8.3% | -30.8% | -15.2% |
| Net margin | 0.6% | -2.4% | -7.3% | 6.0% | -33.7% | -17.3% |
| Return on equity | 1.8% | -8.0% | -17.8% | 12.4% | 71.2% | 104.3% |
| Return on assets | 0.7% | -3.3% | -7.8% | 6.4% | -38.1% | -18.8% |
| Free cash flow yield | 9.1% | 4.7% | 6.7% | 10.6% | 9.7% | 5.0% |
| Revenue growth | 0.8% | 32.3% | 7.8% | 25.1% | 30.2% | 104.3% |
| Earnings growth | -123.8% | -56.6% | -231.3% | -122.3% | 153.3% | 193.5% |
| Current ratio | 1.33x | 1.16x | 1.25x | 1.21x | 0.74x | 0.93x |
| Debt to equity | 1.13x | 1.14x | 0.95x | 0.69x | -0.89x | -1.93x |
| Equity ratio | 40.9% | 41.5% | 43.8% | 51.7% | -53.5% | -18.1% |
| Interest coverage | 0.23x | -1.70x | -2.07x | 3.26x | -11.29x | -8.16x |
| R&D as a share of sales | 0.9% | 1.1% | 1.4% | 1.7% | 1.4% | 1.3% |
| Buybacks as a share of market value | -8.5% | -1.2% | -15.4% | 14.5% | 12.6% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.8% | 22.2% | — |
| Operating income | -54.2% | -8.1% | — |
| Net income | -45.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.4% | 9.7% | 10.7% | — |
| Operating margin | -1.3% | -0.3% | 0.1% | — |
| Net margin | -0.8% | -0.8% | -6.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 82.6 | -17.3 | -15.3 | 25.4 |
| Price to sales | 0.5 | 0.4 | 1.1 | 1.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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