V 
0.99
-3.88%
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¥357.7m
FY2017FY2025
Net income
−CN¥475.4m
FY2017FY2025
Free cash flow
−CN¥387.3m
FY2017FY2025
Shareholders' equity
CN¥2.06bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥357.7m | CN¥470.8m | CN¥491.4m | CN¥406.5m | CN¥484.9m | CN¥276.0m | CN¥233.3m | CN¥115.3m | CN¥18.2m |
| Gross profit | CN¥247.0m | CN¥367.7m | CN¥389.2m | CN¥314.0m | CN¥378.2m | CN¥227.3m | CN¥194.7m | CN¥99.0m | CN¥15.1m |
| Research and development | CN¥311.8m | CN¥341.2m | CN¥524.9m | CN¥527.5m | CN¥301.2m | CN¥167.3m | CN¥200.5m | CN¥104.8m | CN¥117.4m |
| Operating income | −CN¥457.0m | −CN¥724.1m | −CN¥707.1m | −CN¥650.2m | −CN¥324.9m | −CN¥178.6m | −CN¥365.8m | −CN¥296.4m | −CN¥155.9m |
| Net income | −CN¥475.4m | −CN¥714.3m | −CN¥703.8m | −CN¥1.06bn | −CN¥435.7m | −CN¥182.9m | −CN¥380.8m | −CN¥300.4m | −CN¥156.5m |
| Diluted earnings per share | -1.09 | -1.63 | -1.61 | -2.41 | -0.99 | -0.45 | -1.22 | -0.97 | -0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.94bn | CN¥3.25bn | CN¥5.15bn | CN¥6.16bn | CN¥5.96bn | CN¥4.32bn | CN¥3.67bn | CN¥1.03bn | CN¥194.0m |
| Cash and short-term investments | CN¥327.1m | CN¥305.7m | CN¥911.5m | CN¥2.19bn | CN¥3.45bn | CN¥2.75bn | CN¥2.41bn | CN¥164.9m | CN¥72.1m |
| Total liabilities | CN¥882.9m | CN¥1.04bn | CN¥1.74bn | CN¥1.93bn | CN¥556.9m | CN¥461.2m | CN¥623.1m | CN¥564.0m | CN¥112.8m |
| Debt | CN¥72.4m | CN¥369.1m | CN¥826.2m | CN¥899.6m | CN¥70.8m | CN¥32.8m | CN¥146.3m | CN¥101.3m | CN¥36.1m |
| Shareholders' equity | CN¥2.06bn | CN¥2.21bn | CN¥3.41bn | CN¥4.21bn | CN¥5.30bn | CN¥3.82bn | CN¥3.04bn | CN¥461.6m | CN¥72.3m |
| Shares outstanding | 438m | 438m | 438m | 439m | 439m | 409m | 311m | 311m | 393m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥374.7m | CN¥23.7m | −CN¥610.0m | −CN¥850.6m | −CN¥532.8m | −CN¥237.0m | −CN¥303.3m | −CN¥151.5m | −CN¥82.3m |
| Capital spending | −CN¥12.6m | −CN¥41.6m | −CN¥262.9m | −CN¥208.5m | −CN¥169.3m | −CN¥124.0m | −CN¥24.5m | −CN¥26.5m | −CN¥19.5m |
| Free cash flow | −CN¥387.3m | −CN¥17.8m | −CN¥872.9m | −CN¥1.06bn | −CN¥702.1m | −CN¥361.1m | −CN¥327.8m | −CN¥178.0m | −CN¥101.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥158.2m | CN¥139.5m | CN¥218.2m | CN¥240.1m | CN¥230.7m | CN¥235.8m | CN¥298.1m | CN¥229.1m |
| Gross profit | CN¥72.0m | CN¥86.1m | CN¥160.9m | CN¥186.0m | CN¥181.8m | CN¥188.0m | CN¥234.7m | CN¥174.7m |
| Operating income | −CN¥200.3m | −CN¥242.8m | −CN¥159.9m | −CN¥140.7m | −CN¥205.9m | −CN¥249.5m | −CN¥394.5m | −CN¥506.5m |
| Net income | −CN¥223.3m | −CN¥318.3m | −CN¥157.2m | −CN¥507.8m | −CN¥206.5m | −CN¥353.6m | −CN¥408.4m | −CN¥1.00bn |
| Diluted earnings per share | -0.51 | -0.73 | -0.36 | -1.16 | -0.47 | -0.81 | -0.93 | -2.28 |
| Cash from operations | — | −CN¥254.0m | −CN¥151.0m | −CN¥58.0m | CN¥82.0m | −CN¥278.0m | −CN¥386.0m | −CN¥542.0m |
| Capital spending | — | −CN¥1.0m | −CN¥11.0m | −CN¥2.0m | −CN¥43.0m | −CN¥207.0m | −CN¥62.0m | −CN¥47.0m |
| Free cash flow | — | −CN¥255.0m | −CN¥162.0m | −CN¥60.0m | CN¥39.0m | −CN¥485.0m | −CN¥448.0m | −CN¥589.0m |
| Total assets | CN¥2.59bn | CN¥2.94bn | CN¥3.64bn | CN¥3.25bn | CN¥3.90bn | CN¥4.41bn | CN¥5.83bn | CN¥5.28bn |
| Cash and short-term investments | CN¥102.9m | CN¥327.1m | CN¥342.0m | CN¥305.7m | CN¥485.8m | CN¥781.6m | CN¥1.69bn | CN¥1.88bn |
| Debt | CN¥227.7m | CN¥72.4m | CN¥575.6m | CN¥369.1m | CN¥498.2m | CN¥826.2m | CN¥1.02bn | CN¥899.6m |
| Shareholders' equity | CN¥1.78bn | CN¥2.06bn | CN¥2.41bn | CN¥2.21bn | CN¥2.73bn | CN¥2.92bn | CN¥3.86bn | CN¥3.61bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.2% | 5.3% | — |
| Operating income | -11.1% | 20.7% | — |
| Net income | -23.4% | 21.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.2% | 76.3% | 77.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -1.0 | -1.0 | -1.8 | -8.8 | -52.3 | -9.1 |
| Price to sales | 2.5 | 1.5 | 1.5 | 4.5 | 7.9 | 34.7 | 14.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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