R 
15.15
+1.00%
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¥1.65bn
FY2020FY2024
Net income
−CN¥481.8m
FY2020FY2024
Free cash flow
−CN¥173.1m
FY2020FY2024
Shareholders' equity
CN¥3.06bn
FY2020FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.65bn | CN¥1.12bn | CN¥530.3m | CN¥331.1m | CN¥170.9m |
| Gross profit | CN¥283.6m | CN¥93.6m | −CN¥39.3m | CN¥140.3m | CN¥75.4m |
| Research and development | CN¥565.2m | CN¥604.4m | CN¥294.4m | CN¥130.5m | CN¥79.0m |
| Operating income | −CN¥566.8m | −CN¥933.4m | −CN¥570.6m | −CN¥164.5m | −CN¥59.6m |
| Net income | −CN¥481.8m | −CN¥4.34bn | −CN¥2.09bn | −CN¥1.66bn | −CN¥220.8m |
| Diluted earnings per share | -1.05 | -9.65 | -4.65 | -3.69 | -0.49 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|
| Total assets | CN¥4.14bn | CN¥3.27bn | CN¥3.43bn | CN¥1.74bn | CN¥358.3m |
| Cash and short-term investments | CN¥2.84bn | CN¥1.83bn | CN¥2.47bn | CN¥630.7m | CN¥194.3m |
| Total liabilities | CN¥1.08bn | CN¥12.36bn | CN¥8.47bn | CN¥4.39bn | CN¥1.31bn |
| Debt | CN¥192.4m | CN¥11.47bn | CN¥30.5m | CN¥29.9m | CN¥14.3m |
| Shareholders' equity | CN¥3.06bn | −CN¥9.09bn | −CN¥5.05bn | −CN¥2.64bn | −CN¥955.9m |
| Shares outstanding | 461m | 449m | 449m | 449m | 449m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|
| Cash from operations | −CN¥65.1m | −CN¥516.5m | −CN¥523.1m | −CN¥180.5m | −CN¥75.2m |
| Capital spending | −CN¥108.0m | −CN¥146.1m | −CN¥120.4m | −CN¥94.5m | −CN¥5.2m |
| Free cash flow | −CN¥173.1m | −CN¥662.5m | −CN¥643.4m | −CN¥275.0m | −CN¥80.5m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥407.1m | CN¥455.4m | CN¥327.8m | CN¥921.8m | −CN¥319.2m | CN¥366.1m | CN¥361.0m | CN¥791.1m |
| Gross profit | CN¥97.4m | CN¥126.1m | CN¥77.0m | CN¥185.0m | −CN¥27.3m | CN¥54.1m | CN¥44.5m | CN¥80.9m |
| Operating income | −CN¥118.0m | −CN¥79.1m | −CN¥124.3m | −CN¥249.3m | CN¥215.0m | −CN¥160.8m | −CN¥160.6m | −CN¥501.4m |
| Net income | −CN¥101.0m | −CN¥51.4m | −CN¥99.6m | −CN¥212.7m | CN¥187.0m | −CN¥137.4m | −CN¥131.8m | −CN¥3.57bn |
| Diluted earnings per share | -0.22 | -0.22 | -0.22 | -0.49 | 0.43 | -0.32 | -0.31 | -7.94 |
| Total assets | CN¥4.93bn | CN¥4.94bn | CN¥4.90bn | CN¥4.14bn | — | CN¥3.86bn | CN¥4.11bn | CN¥3.27bn |
| Cash and short-term investments | CN¥3.05bn | CN¥3.21bn | CN¥3.38bn | CN¥2.86bn | — | CN¥2.65bn | CN¥2.73bn | CN¥1.83bn |
| Debt | CN¥131.1m | CN¥93.8m | CN¥101.7m | CN¥56.0m | — | CN¥432,000 | CN¥880,000 | CN¥1.40bn |
| Shareholders' equity | CN¥3.72bn | CN¥3.82bn | CN¥3.87bn | CN¥3.06bn | — | CN¥3.12bn | CN¥3.22bn | −CN¥9.09bn |
Financial ratios
Data as of 1 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.5% | 17.2% | 8.4% | -8.6% | 51.1% | 49.5% |
| Operating margin | -20.6% | -35.4% | -84.0% | -116.2% | -50.0% | -35.9% |
| Net margin | -7.5% | -29.2% | -387.1% | -393.8% | -501.0% | -129.2% |
| Return on equity | -3.8% | -15.8% | 47.7% | 36.9% | 51.3% | 23.1% |
| Return on assets | -2.7% | -11.6% | -132.6% | -60.9% | -95.2% | -61.6% |
| Free cash flow yield | -5.7% | 0.6% | -5.1% | -18.3% | -3.2% | — |
| Revenue growth | 14.7% | 47.2% | 111.2% | 60.2% | 93.7% | — |
| Earnings growth | -70.5% | -88.9% | 107.6% | 25.9% | 651.3% | — |
| Current ratio | 3.84x | 4.00x | 0.26x | 0.36x | 1.23x | 2.69x |
| Debt to equity | 0.12x | 0.05x | -0.00x | -1.24x | -0.30x | -0.01x |
| Equity ratio | 71.9% | 73.9% | -277.7% | -165.3% | -185.7% | -266.8% |
| Interest coverage | -40.36x | -125.61x | -444.93x | -202.67x | -64.70x | -74.46x |
| R&D as a share of sales | 33.3% | 37.3% | 56.7% | 57.7% | 40.2% | 47.7% |
| Buybacks as a share of market value | -1.9% | -5.7% | -244.8% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 70.8% | — | — |
| Operating income | 51.0% | — | — |
| Net income | -33.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.6% | 13.2% | — | — |
Valuation history
At each fiscal year end
| FY2024 | |
|---|---|
| Price to earnings | -27.6 |
| Price to sales | 8.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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