C 
13.66
-3.46%
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¥44.40bn
FY2019FY2025
Net income
CN¥1.48bn
FY2019FY2025
Free cash flow
−CN¥6.64bn
FY2019FY2025
Shareholders' equity
CN¥36.75bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥44.40bn | CN¥23.79bn | CN¥23.15bn | CN¥17.47bn | CN¥5.84bn | CN¥2.42bn | CN¥1.48bn |
| Gross profit | CN¥6.89bn | CN¥3.65bn | CN¥2.27bn | CN¥2.10bn | CN¥218.6m | CN¥259.0m | −CN¥6.9m |
| Research and development | CN¥2.14bn | CN¥1.22bn | CN¥850.4m | CN¥569.9m | CN¥190.8m | CN¥173.2m | CN¥64.8m |
| Operating income | CN¥3.13bn | CN¥894.5m | CN¥655.1m | CN¥610.1m | CN¥97.0m | CN¥52.3m | −CN¥377.4m |
| Net income | CN¥1.48bn | CN¥506.8m | CN¥252.4m | CN¥592.9m | CN¥120.0m | CN¥4.4m | −CN¥101.6m |
| Diluted earnings per share | 0.83 | 0.29 | 0.14 | 0.36 | 0.07 | 0.00 | -0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥148.62bn | CN¥122.47bn | CN¥105.43bn | CN¥90.46bn | CN¥38.62bn | CN¥15.69bn | CN¥10.68bn |
| Cash and short-term investments | CN¥14.66bn | CN¥10.89bn | CN¥7.98bn | CN¥11.11bn | CN¥9.29bn | CN¥3.68bn | CN¥1.55bn |
| Total liabilities | CN¥95.14bn | CN¥74.42bn | CN¥59.04bn | CN¥48.89bn | CN¥13.63bn | CN¥4.88bn | CN¥4.62bn |
| Debt | CN¥58.30bn | CN¥46.22bn | CN¥29.25bn | CN¥17.82bn | CN¥2.92bn | CN¥953.2m | CN¥2.96bn |
| Shareholders' equity | CN¥36.75bn | CN¥35.18bn | CN¥34.65bn | CN¥34.38bn | CN¥29.56bn | CN¥12.37bn | CN¥5.37bn |
| Shares outstanding | 1,772m | 1,772m | 1,772m | 1,632m | 1,772m | 1,772m | 1,772m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥7.38bn | CN¥2.67bn | CN¥2.90bn | CN¥2.11bn | CN¥1.59bn | CN¥1.67bn | −CN¥387.9m |
| Capital spending | −CN¥14.01bn | −CN¥14.24bn | −CN¥20.13bn | −CN¥36.78bn | −CN¥13.15bn | −CN¥3.14bn | −CN¥926.5m |
| Free cash flow | −CN¥6.64bn | −CN¥11.57bn | −CN¥17.23bn | −CN¥34.67bn | −CN¥11.56bn | −CN¥1.47bn | −CN¥1.31bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥15.28bn | CN¥11.80bn | CN¥15.86bn | CN¥12.12bn | CN¥9.52bn | CN¥6.90bn | CN¥6.55bn | CN¥7.64bn |
| Gross profit | CN¥2.45bn | CN¥1.78bn | CN¥2.47bn | CN¥1.71bn | CN¥1.52bn | CN¥1.19bn | CN¥1.05bn | CN¥1.22bn |
| Operating income | CN¥2.65bn | −CN¥557.2m | CN¥1.84bn | CN¥123.0m | CN¥1.50bn | −CN¥336.8m | CN¥234.3m | CN¥273.3m |
| Net income | CN¥562.1m | CN¥373.0m | CN¥791.0m | CN¥218.6m | CN¥235.8m | CN¥230.2m | CN¥146.7m | CN¥171.1m |
| Diluted earnings per share | 0.32 | 0.21 | 0.45 | 0.12 | 0.13 | 0.13 | 0.08 | 0.10 |
| Cash from operations | — | CN¥3.06bn | CN¥4.84bn | CN¥2.76bn | CN¥1.95bn | CN¥608.0m | CN¥929.0m | CN¥929.0m |
| Capital spending | — | −CN¥7.43bn | −CN¥3.18bn | −CN¥4.15bn | −CN¥2.48bn | −CN¥4.58bn | −CN¥4.31bn | −CN¥4.31bn |
| Free cash flow | — | −CN¥4.38bn | CN¥1.66bn | −CN¥1.39bn | −CN¥527.0m | −CN¥3.97bn | −CN¥3.38bn | −CN¥3.38bn |
| Total assets | CN¥169.05bn | CN¥158.25bn | CN¥148.56bn | CN¥138.09bn | CN¥130.54bn | CN¥124.90bn | CN¥104.99bn | CN¥122.47bn |
| Cash and short-term investments | CN¥12.48bn | CN¥17.54bn | CN¥14.66bn | CN¥11.94bn | CN¥11.25bn | CN¥10.31bn | CN¥9.34bn | CN¥10.89bn |
| Debt | CN¥30.50bn | CN¥26.66bn | CN¥58.30bn | CN¥19.90bn | CN¥52.53bn | CN¥15.40bn | CN¥39.62bn | CN¥18.99bn |
| Shareholders' equity | CN¥37.56bn | CN¥37.27bn | CN¥36.74bn | CN¥36.06bn | CN¥35.65bn | CN¥35.53bn | CN¥30.16bn | CN¥35.18bn |
Financial ratios
Data as of 19 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.5% | 15.4% | 9.8% | 12.0% | 3.7% | 10.7% |
| Operating margin | 7.0% | 3.8% | 2.8% | 3.5% | 1.7% | 2.2% |
| Net margin | 3.3% | 2.1% | 1.1% | 3.4% | 2.1% | 0.2% |
| Return on equity | 4.0% | 1.7% | 0.8% | 2.0% | 0.5% | 0.0% |
| Return on assets | 1.0% | 0.5% | 0.3% | 0.8% | 0.4% | 0.0% |
| Free cash flow yield | 62.8% | 57.9% | 67.6% | 124.1% | 43.3% | — |
| Revenue growth | 60.0% | 2.8% | 32.5% | 198.9% | 141.3% | 63.2% |
| Earnings growth | 149.6% | 100.8% | -57.4% | 393.9% | 2615.3% | -104.4% |
| Current ratio | 0.79x | 0.78x | 0.87x | 1.14x | 1.88x | 1.49x |
| Debt to equity | 1.57x | 1.31x | 0.84x | 0.52x | 0.10x | 0.08x |
| Equity ratio | 24.7% | 28.7% | 32.9% | 38.0% | 76.5% | 78.8% |
| Interest coverage | 3.66x | 2.51x | 2.31x | 10.91x | 4.53x | 0.95x |
| R&D as a share of sales | 4.8% | 5.1% | 3.7% | 3.3% | 3.3% | 7.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | -8.6% | 7.9% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 36.5% | 78.9% | — |
| Operating income | 72.4% | 126.6% | — |
| Net income | 35.5% | 219.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.5% | 13.7% | 13.1% | — |
| Operating margin | 5.9% | 4.9% | 4.6% | — |
| Net margin | 2.9% | 2.6% | 2.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 26.1 | 39.0 | 107.1 | 43.1 |
| Price to sales | 0.9 | 0.8 | 1.2 | 1.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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