S 
46.50
-5.10%
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¥408.3m
FY2019FY2025
Net income
CN¥83.3m
FY2019FY2025
Free cash flow
CN¥140.0m
FY2019FY2025
Shareholders' equity
CN¥1.13bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥408.3m | CN¥237.6m | CN¥198.7m | CN¥183.0m | CN¥90.1m | CN¥14.6m | — |
| Gross profit | CN¥272.2m | CN¥155.4m | CN¥129.8m | CN¥124.3m | CN¥55.0m | CN¥7.1m | — |
| Research and development | CN¥40.8m | CN¥50.4m | CN¥105.9m | CN¥153.7m | CN¥76.3m | CN¥51.1m | CN¥51.1m |
| Operating income | CN¥44.3m | −CN¥5.3m | −CN¥107.7m | −CN¥198.6m | −CN¥156.4m | −CN¥214.6m | −CN¥75.7m |
| Net income | CN¥83.3m | −CN¥11.6m | −CN¥80.4m | −CN¥200.4m | −CN¥194.2m | −CN¥213.7m | −CN¥75.3m |
| Diluted earnings per share | 2.21 | -0.31 | -2.11 | -5.22 | -5.33 | -9.27 | -2.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.29bn | CN¥1.21bn | CN¥1.20bn | CN¥1.31bn | CN¥1.50bn | CN¥773.6m | CN¥91.3m |
| Cash and short-term investments | CN¥786.8m | CN¥713.7m | CN¥721.1m | CN¥870.1m | CN¥1.22bn | CN¥632.4m | CN¥55.8m |
| Total liabilities | CN¥133.5m | CN¥144.0m | CN¥125.6m | CN¥147.1m | CN¥132.1m | CN¥82.6m | CN¥10.2m |
| Debt | CN¥42.7m | CN¥35.7m | CN¥36.4m | CN¥50.7m | CN¥41.9m | CN¥24.7m | CN¥1.2m |
| Shareholders' equity | CN¥1.13bn | CN¥1.06bn | CN¥1.08bn | CN¥1.17bn | CN¥1.37bn | CN¥681.4m | CN¥81.1m |
| Shares outstanding | 38m | 38m | 38m | 38m | 36m | 23m | 38m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥154.1m | −CN¥2.8m | −CN¥88.4m | −CN¥266.8m | −CN¥205.9m | −CN¥74.8m | −CN¥32.3m |
| Capital spending | −CN¥14.2m | −CN¥4.4m | −CN¥49.3m | −CN¥37.2m | −CN¥54.5m | −CN¥15.6m | −CN¥20.8m |
| Free cash flow | CN¥140.0m | −CN¥7.2m | −CN¥137.7m | −CN¥304.0m | −CN¥260.3m | −CN¥90.4m | −CN¥53.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥145.5m | CN¥145.5m | CN¥111.4m | CN¥111.4m | CN¥92.8m | CN¥92.8m | CN¥63.9m | CN¥74.7m |
| Gross profit | CN¥104.0m | CN¥104.0m | CN¥72.8m | CN¥72.8m | CN¥63.3m | CN¥63.3m | CN¥42.5m | CN¥49.7m |
| Operating income | CN¥45.6m | CN¥45.6m | CN¥3.5m | CN¥3.5m | CN¥18.6m | CN¥18.6m | CN¥4.1m | CN¥4.8m |
| Net income | CN¥30.2m | CN¥30.2m | CN¥16.2m | CN¥16.2m | CN¥25.5m | CN¥25.5m | −CN¥3.6m | −CN¥4.3m |
| Diluted earnings per share | 0.80 | 0.80 | 0.43 | 0.43 | 0.68 | 0.68 | -0.10 | -0.11 |
| Cash from operations | — | — | CN¥50.0m | CN¥50.0m | CN¥26.0m | CN¥26.0m | −CN¥5.0m | −CN¥6.0m |
| Capital spending | — | — | −CN¥1.0m | −CN¥1.0m | −CN¥4.0m | −CN¥4.0m | −CN¥1.0m | −CN¥1.0m |
| Free cash flow | — | — | CN¥49.0m | CN¥49.0m | CN¥22.0m | CN¥22.0m | −CN¥6.0m | −CN¥7.0m |
| Total assets | CN¥1.37bn | CN¥1.37bn | CN¥1.29bn | CN¥1.29bn | CN¥1.25bn | CN¥1.25bn | CN¥1.03bn | CN¥1.21bn |
| Cash and short-term investments | CN¥789.7m | CN¥789.7m | CN¥786.5m | CN¥786.5m | CN¥718.2m | CN¥718.2m | CN¥610.3m | CN¥713.7m |
| Debt | CN¥5.5m | CN¥5.5m | CN¥42.7m | CN¥6.9m | CN¥45.9m | CN¥7.2m | CN¥30.6m | CN¥7.7m |
| Shareholders' equity | CN¥1.22bn | CN¥1.22bn | CN¥1.13bn | CN¥1.13bn | CN¥1.11bn | CN¥1.11bn | CN¥908.3m | CN¥1.06bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 66.7% | 65.4% | 65.3% | 67.9% | 61.0% | 48.7% |
| Operating margin | 10.8% | -3.7% | -43.4% | -108.8% | -217.1% | -1473.6% |
| Net margin | 20.4% | -4.9% | -40.5% | -109.5% | -215.6% | -1467.3% |
| Return on equity | 7.4% | -1.3% | -8.7% | -17.2% | -14.2% | -31.4% |
| Return on assets | 6.4% | -1.1% | -7.8% | -15.3% | -12.9% | -27.6% |
| Free cash flow yield | 8.5% | 0.1% | -2.0% | -11.4% | -7.9% | -4.9% |
| Revenue growth | 46.9% | 19.6% | 26.9% | 103.2% | 518.7% | — |
| Earnings growth | -711.8% | -85.5% | -53.1% | 3.2% | -9.1% | 183.8% |
| Current ratio | 11.49x | 12.42x | 16.82x | 16.77x | 24.05x | 18.08x |
| Debt to equity | 0.01x | 0.01x | 0.00x | 0.01x | 0.00x | 0.00x |
| Equity ratio | 87.6% | 88.1% | 89.5% | 88.8% | 91.2% | 88.1% |
| Interest coverage | 21.47x | -5.86x | -46.69x | -92.65x | -82.72x | -133.78x |
| R&D as a share of sales | 10.0% | 21.2% | 53.3% | 84.0% | 84.7% | 351.1% |
| Buybacks as a share of market value | 0.3% | 0.7% | 1.0% | -5.5% | -58.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.7% | 94.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 66.2% | 66.3% | 65.7% | — |
| Operating margin | 6.0% | -26.0% | -56.4% | — |
| Net margin | 11.1% | -20.3% | -54.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 20.6 | -61.6 | -12.2 | -6.1 | -17.0 |
| Price to sales | 4.2 | 3.0 | 4.9 | 6.7 | 36.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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