C 
5.41
+1.12%
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¥314.0m
FY2016FY2025
Net income
−CN¥508.9m
FY2016FY2025
Free cash flow
−CN¥381.7m
FY2016FY2025
Shareholders' equity
CN¥718.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥314.0m | CN¥407.2m | CN¥463.8m | CN¥481.4m | CN¥283.8m | CN¥1.21bn | — | CN¥12.6m | CN¥10.3m | — |
| Research and development | CN¥362.8m | CN¥134.7m | CN¥527.8m | CN¥614.2m | CN¥1.52bn | CN¥1.64bn | CN¥1.40bn | CN¥850.2m | CN¥213.4m | CN¥247.1m |
| Operating income | −CN¥503.8m | −CN¥91.7m | −CN¥605.6m | −CN¥912.1m | −CN¥2.13bn | −CN¥1.27bn | −CN¥1.74bn | −CN¥1.03bn | −CN¥242.5m | −CN¥262.2m |
| Net income | −CN¥508.9m | −CN¥91.2m | −CN¥367.2m | −CN¥902.7m | −CN¥2.24bn | −CN¥1.42bn | −CN¥2.31bn | −CN¥1.75bn | −CN¥308.9m | −CN¥246.1m |
| Diluted earnings per share | -0.35 | -0.07 | -0.29 | -0.77 | -1.90 | -1.21 | -2.32 | -1.77 | -0.31 | -0.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.58bn | CN¥1.62bn | CN¥1.94bn | CN¥1.91bn | CN¥2.65bn | CN¥4.38bn | CN¥2.95bn | CN¥1.63bn | CN¥564.3m | CN¥826.1m |
| Cash and short-term investments | CN¥1.07bn | CN¥783.7m | CN¥1.22bn | CN¥1.21bn | CN¥2.01bn | CN¥3.95bn | CN¥2.74bn | CN¥1.56bn | CN¥537.7m | CN¥811.9m |
| Total liabilities | CN¥863.7m | CN¥1.20bn | CN¥1.40bn | CN¥1.38bn | CN¥1.24bn | CN¥941.3m | CN¥469.1m | CN¥1.12bn | CN¥113.2m | CN¥59.2m |
| Debt | CN¥405.4m | CN¥356.0m | CN¥363.4m | CN¥286.3m | CN¥174.2m | CN¥83.9m | CN¥4.3m | — | — | — |
| Shareholders' equity | CN¥718.6m | CN¥423.8m | CN¥532.0m | CN¥523.3m | CN¥1.41bn | CN¥3.44bn | CN¥2.48bn | CN¥515.3m | CN¥426.3m | CN¥712.7m |
| Shares outstanding | 1,463m | 1,277m | 1,274m | 1,169m | 1,176m | 1,174m | 994m | 984m | 984m | 984m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥381.7m | −CN¥343.2m | −CN¥685.8m | −CN¥713.3m | −CN¥1.73bn | −CN¥508.1m | −CN¥1.08bn | −CN¥791.1m | −CN¥240.2m | −CN¥213.0m |
| Capital spending | — | — | −CN¥75.8m | −CN¥118.6m | −CN¥173.7m | −CN¥71.4m | −CN¥10.4m | −CN¥7.9m | −CN¥12.5m | −CN¥1.1m |
| Free cash flow | −CN¥381.7m | −CN¥343.2m | −CN¥761.5m | −CN¥831.9m | −CN¥1.90bn | −CN¥579.5m | −CN¥1.09bn | −CN¥799.0m | −CN¥252.7m | −CN¥214.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥235.6m | CN¥256.4m | CN¥28.8m | CN¥153.0m | CN¥89.1m | CN¥254.2m | CN¥148.0m | CN¥202.4m |
| Operating income | −CN¥270.8m | −CN¥181.1m | −CN¥161.4m | −CN¥102.4m | −CN¥59.6m | −CN¥3.7m | −CN¥2.1m | −CN¥351.6m |
| Net income | −CN¥289.8m | −CN¥194.3m | −CN¥157.3m | −CN¥106.9m | −CN¥62.3m | CN¥15.7m | CN¥9.1m | −CN¥158.0m |
| Diluted earnings per share | -0.19 | -0.13 | -0.11 | -0.08 | -0.05 | 0.01 | 0.01 | -0.12 |
| Cash from operations | — | −CN¥65.0m | −CN¥345.0m | −CN¥156.0m | — | −CN¥187.0m | −CN¥108.0m | −CN¥248.0m |
| Total assets | CN¥2.39bn | CN¥1.58bn | CN¥1.39bn | CN¥1.39bn | CN¥1.62bn | CN¥1.53bn | CN¥1.78bn | CN¥1.66bn |
| Cash and short-term investments | CN¥1.82bn | CN¥1.07bn | CN¥803.7m | CN¥672.9m | CN¥838.4m | CN¥857.6m | CN¥998.8m | CN¥1.05bn |
| Debt | CN¥195.2m | CN¥405.4m | CN¥455.8m | CN¥356.0m | CN¥108.6m | CN¥334.7m | CN¥114.5m | CN¥363.4m |
| Shareholders' equity | CN¥1.50bn | CN¥718.6m | CN¥366.9m | CN¥363.9m | CN¥423.8m | CN¥467.7m | CN¥544.6m | CN¥456.8m |
Financial ratios
Data as of 6 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -154.2% | -23.4% | -76.6% | -185.8% | -786.9% | -117.4% | — | — |
| Net margin | -162.1% | -22.4% | -79.2% | -187.5% | -787.8% | -117.4% | — | — |
| Return on equity | -70.8% | -25.1% | -80.4% | -200.9% | -159.1% | -41.3% | — | — |
| Return on assets | -32.2% | -6.5% | -22.1% | -55.1% | -84.5% | -32.4% | — | — |
| Free cash flow yield | — | — | -7.0% | -7.5% | -19.4% | -6.4% | -18.4% | -13.6% |
| Revenue growth | -33.8% | -12.2% | -3.6% | 97.5% | -76.5% | — | — | 21.8% |
| Earnings growth | 379.1% | -75.2% | -59.3% | -53.0% | 57.4% | -47.2% | — | — |
| Current ratio | 2.18x | 1.60x | 1.56x | 1.32x | 2.10x | 4.91x | — | — |
| Debt to equity | 0.56x | 0.96x | 0.77x | 0.59x | 0.13x | 0.02x | — | — |
| Equity ratio | 45.4% | 26.1% | 27.5% | 27.4% | 53.1% | 78.5% | — | — |
| Interest coverage | -32.16x | -6.29x | -30.07x | -105.49x | -855.42x | -924.00x | — | — |
| R&D as a share of sales | 115.6% | 33.1% | 113.8% | 127.6% | 535.4% | 135.2% | — | — |
| Buybacks as a share of market value | -14.5% | -0.2% | -9.0% | 0.5% | -0.1% | -18.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.3% | -23.6% | — |
| Operating income | -18.0% | -16.9% | — |
| Net income | -17.4% | -18.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -13.2 | -27.9 | -6.8 | -5.2 | -3.8 | -7.2 | -3.8 |
| Price to sales | 21.5 | 6.3 | 5.4 | 9.7 | 29.7 | 8.5 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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