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1.11
-1.77%
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¥1.64bn
FY2019FY2025
Net income
−CN¥71.8m
FY2019FY2025
Free cash flow
−CN¥41.9m
FY2019FY2025
Shareholders' equity
CN¥1.35bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.64bn | CN¥1.75bn | CN¥1.81bn | CN¥1.88bn | CN¥1.62bn | CN¥1.11bn | CN¥663.1m |
| Gross profit | CN¥854.1m | CN¥818.9m | CN¥815.7m | CN¥763.7m | CN¥676.6m | CN¥499.4m | CN¥272.6m |
| Research and development | CN¥310.1m | CN¥372.3m | CN¥381.4m | CN¥455.4m | CN¥355.6m | CN¥167.9m | CN¥194.2m |
| Operating income | −CN¥81.2m | −CN¥487.9m | −CN¥318.6m | −CN¥669.0m | −CN¥977.1m | −CN¥127.6m | −CN¥381.9m |
| Net income | −CN¥71.8m | −CN¥453.6m | CN¥938.1m | −CN¥88.7m | −CN¥2.91bn | −CN¥2.24bn | −CN¥729.0m |
| Diluted earnings per share | -0.14 | -0.88 | 1.78 | -0.18 | -5.86 | -4.26 | -1.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.78bn | CN¥1.91bn | CN¥2.45bn | CN¥2.63bn | CN¥3.12bn | CN¥3.29bn | CN¥991.6m |
| Cash and short-term investments | — | CN¥1.20bn | CN¥1.77bn | CN¥1.88bn | — | CN¥2.77bn | CN¥563.9m |
| Total liabilities | CN¥426.3m | CN¥550.0m | CN¥575.6m | CN¥10.14bn | CN¥9.88bn | CN¥7.33bn | CN¥3.14bn |
| Debt | — | CN¥17.5m | CN¥42.5m | CN¥9.54bn | — | CN¥113.4m | CN¥140.1m |
| Shareholders' equity | CN¥1.35bn | CN¥1.36bn | CN¥1.87bn | −CN¥7.51bn | −CN¥6.76bn | −CN¥4.04bn | −CN¥2.15bn |
| Shares outstanding | 514m | 518m | 526m | 496m | 496m | 526m | 526m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥33.1m | −CN¥468.0m | −CN¥318.7m | −CN¥456.0m | −CN¥868.5m | −CN¥70.8m | −CN¥277.0m |
| Capital spending | −CN¥8.8m | −CN¥13.3m | −CN¥6.7m | −CN¥19.7m | −CN¥24.6m | −CN¥7.2m | −CN¥36.2m |
| Free cash flow | −CN¥41.9m | −CN¥481.3m | −CN¥325.4m | −CN¥475.6m | −CN¥893.1m | −CN¥78.0m | −CN¥313.2m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥815.5m | CN¥821.8m | CN¥872.3m | CN¥879.9m | CN¥978.1m | CN¥984.7m | CN¥1.20bn |
| Gross profit | CN¥425.0m | CN¥429.1m | CN¥414.0m | CN¥404.9m | CN¥456.3m | CN¥423.7m | CN¥486.9m |
| Operating income | −CN¥38.8m | −CN¥42.4m | −CN¥328.6m | −CN¥159.3m | −CN¥99.2m | −CN¥261.1m | −CN¥422.6m |
| Net income | −CN¥36.4m | −CN¥35.4m | −CN¥315.0m | −CN¥138.6m | −CN¥75.7m | CN¥1.20bn | −CN¥366.2m |
| Diluted earnings per share | -0.07 | -0.07 | -0.61 | -0.27 | -0.14 | 2.27 | -0.70 |
| Cash from operations | — | — | — | −CN¥196.0m | −CN¥270.0m | −CN¥149.0m | −CN¥386.0m |
| Capital spending | — | — | — | −CN¥2.0m | −CN¥5.0m | −CN¥4.0m | −CN¥16.0m |
| Free cash flow | — | — | — | −CN¥198.0m | −CN¥275.0m | −CN¥153.0m | −CN¥402.0m |
| Total assets | CN¥1.78bn | CN¥1.79bn | CN¥1.62bn | CN¥1.97bn | CN¥2.08bn | CN¥2.39bn | — |
| Cash and short-term investments | CN¥850.5m | CN¥1.02bn | CN¥1.02bn | CN¥1.27bn | CN¥1.50bn | CN¥1.70bn | — |
| Debt | CN¥3.4m | CN¥8.3m | CN¥14.8m | CN¥12.7m | CN¥36.0m | CN¥8.52bn | — |
| Shareholders' equity | CN¥1.35bn | CN¥1.35bn | CN¥1.15bn | CN¥1.44bn | CN¥1.59bn | −CN¥6.74bn | — |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 52.2% | 46.7% | 45.0% | 40.7% | 41.8% |
| Operating margin | -4.3% | -25.8% | 52.0% | -4.4% | -60.3% |
| Net margin | -4.4% | -25.9% | 51.7% | -4.7% | -179.6% |
| Return on equity | -5.3% | -39.4% | 59.0% | 1.4% | 43.0% |
| Return on assets | -4.0% | -28.1% | 45.2% | -4.0% | -93.2% |
| Free cash flow yield | -3.9% | -73.2% | -49.5% | — | — |
| Revenue growth | -20.7% | -3.4% | -3.3% | 36.6% | — |
| Earnings growth | -86.6% | -148.4% | -1157.8% | -96.4% | — |
| Current ratio | 3.17x | 3.29x | 4.31x | 3.64x | 4.88x |
| Debt to equity | — | 0.00x | 0.01x | -1.26x | — |
| Equity ratio | 76.0% | 71.1% | 76.5% | -285.2% | -216.7% |
| Interest coverage | -2.27x | -67.32x | 762.13x | -165.35x | -125.64x |
| R&D as a share of sales | 18.9% | 21.3% | 21.0% | 24.3% | 22.0% |
| Buybacks as a share of market value | 0.8% | 1.5% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.4% | 8.1% | — |
| Operating income | -50.5% | -8.6% | — |
| Net income | -6.8% | -49.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 49.4% | 45.9% | 45.2% | — |
| Operating margin | -16.8% | -22.0% | -27.1% | — |
| Net margin | -15.5% | 4.6% | -49.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -22.5 | -5.7 | 6.8 |
| Price to sales | 1.0 | 1.5 | 3.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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