B 
Black Sesame International Holding 2533.HK · HKD
Information Technology · HKEX · 🇭🇰 Hong Kong
6.29
-0.16%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥822.3m
FY2021FY2025
Net income
−CN¥1.39bn
FY2021FY2025
Free cash flow
−CN¥1.03bn
FY2021FY2025
Shareholders' equity
CN¥1.16bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | CN¥822.3m | CN¥406.6m | CN¥267.8m | CN¥141.8m | CN¥60.5m |
| Gross profit | CN¥337.1m | CN¥166.9m | CN¥66.1m | CN¥41.7m | CN¥21.9m |
| Research and development | CN¥1.38bn | CN¥1.23bn | CN¥1.17bn | CN¥655.0m | CN¥595.4m |
| Operating income | −CN¥1.44bn | −CN¥1.50bn | −CN¥1.45bn | −CN¥902.5m | −CN¥722.7m |
| Net income | −CN¥1.39bn | CN¥268.6m | −CN¥4.16bn | −CN¥2.36bn | −CN¥2.36bn |
| Diluted earnings per share | -2.26 | 0.59 | -58.62 | -3.63 | -3.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | CN¥2.65bn | CN¥1.99bn | CN¥1.65bn | CN¥1.85bn | CN¥1.76bn |
| Cash and short-term investments | CN¥1.53bn | CN¥1.39bn | CN¥1.12bn | CN¥1.45bn | CN¥1.55bn |
| Total liabilities | CN¥1.49bn | CN¥1.05bn | CN¥11.16bn | CN¥7.42bn | CN¥5.43bn |
| Debt | CN¥778.9m | CN¥619.3m | CN¥10.84bn | CN¥70.8m | CN¥163.7m |
| Shareholders' equity | CN¥1.16bn | CN¥937.2m | −CN¥9.51bn | −CN¥5.58bn | −CN¥3.66bn |
| Shares outstanding | 614m | 454m | 71m | 650m | 650m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | −CN¥982.1m | −CN¥1.02bn | −CN¥906.8m | −CN¥647.0m | −CN¥639.3m |
| Capital spending | −CN¥48.6m | −CN¥47.7m | −CN¥114.5m | −CN¥60.9m | −CN¥33.8m |
| Free cash flow | −CN¥1.03bn | −CN¥1.07bn | −CN¥1.02bn | −CN¥707.9m | −CN¥673.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥229.2m | CN¥229.2m | CN¥284.7m | CN¥284.7m | CN¥126.4m | CN¥126.4m | CN¥126.1m | CN¥147.1m |
| Gross profit | CN¥113.5m | CN¥113.5m | CN¥137.2m | CN¥137.2m | CN¥31.3m | CN¥31.3m | CN¥44.8m | CN¥52.3m |
| Operating income | −CN¥385.6m | −CN¥385.6m | −CN¥338.5m | −CN¥338.5m | −CN¥385.6m | −CN¥385.6m | −CN¥391.7m | −CN¥456.9m |
| Net income | −CN¥385.1m | −CN¥385.1m | −CN¥331.2m | −CN¥331.2m | −CN¥381.2m | −CN¥381.2m | −CN¥339.2m | −CN¥395.7m |
| Diluted earnings per share | -0.59 | -0.59 | -0.54 | -0.54 | -0.62 | -0.62 | -0.75 | -0.87 |
| Cash from operations | −CN¥510.0m | −CN¥510.0m | −CN¥223.0m | −CN¥223.0m | −CN¥269.0m | −CN¥269.0m | −CN¥270.0m | −CN¥315.0m |
| Capital spending | −CN¥18.0m | −CN¥18.0m | −CN¥11.0m | −CN¥11.0m | −CN¥12.0m | −CN¥12.0m | −CN¥4.0m | −CN¥5.0m |
| Free cash flow | −CN¥528.0m | −CN¥528.0m | −CN¥234.0m | −CN¥234.0m | −CN¥281.0m | −CN¥281.0m | −CN¥274.0m | −CN¥320.0m |
| Total assets | CN¥3.44bn | CN¥3.44bn | CN¥2.65bn | CN¥2.65bn | CN¥2.83bn | CN¥2.83bn | CN¥1.99bn | CN¥2.32bn |
| Cash and short-term investments | CN¥1.27bn | CN¥1.27bn | CN¥1.53bn | CN¥1.53bn | CN¥2.11bn | CN¥2.11bn | CN¥1.40bn | CN¥1.63bn |
| Debt | CN¥692.2m | CN¥692.2m | CN¥778.6m | CN¥759.5m | CN¥679.2m | CN¥655.7m | CN¥619.3m | CN¥488.3m |
| Shareholders' equity | CN¥1.47bn | CN¥1.47bn | CN¥1.16bn | CN¥1.16bn | CN¥1.70bn | CN¥1.70bn | CN¥937.2m | CN¥1.09bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 41.0% | 41.1% | 24.7% | 29.4% | 36.1% | -1.1% |
| Operating margin | -177.8% | -369.8% | -543.2% | -636.4% | -1194.4% | -561.7% |
| Net margin | -168.8% | 66.1% | -1554.2% | -1664.6% | -3894.8% | -1433.8% |
| Return on equity | -119.7% | 28.7% | 43.8% | 42.3% | 64.3% | 56.2% |
| Return on assets | -52.4% | 13.5% | -252.8% | -127.9% | -133.6% | -229.2% |
| Free cash flow yield | -15.9% | -26.1% | -136.2% | — | — | — |
| Revenue growth | 73.4% | 51.8% | 88.8% | 173.4% | 11.6% | — |
| Earnings growth | -542.9% | -106.5% | 76.3% | 16.9% | 203.1% | — |
| Current ratio | 1.60x | 2.21x | 0.13x | 0.23x | 0.31x | 3.84x |
| Debt to equity | 0.66x | 0.63x | -1.14x | -0.01x | -0.04x | -0.01x |
| Equity ratio | 43.8% | 47.2% | -577.7% | -302.2% | -207.6% | -407.5% |
| Interest coverage | -44.68x | -112.82x | -797.41x | -394.61x | -302.88x | -567.23x |
| R&D as a share of sales | 167.9% | 302.6% | 436.2% | 461.8% | 984.0% | 463.2% |
| Buybacks as a share of market value | -35.4% | -539.2% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 79.2% | — | — |
| Operating income | 16.8% | — | — |
| Net income | -16.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 41.0% | 37.3% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | -7.3 | 25.5 |
| Price to sales | 12.4 | 16.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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