G 
8.10
-2.06%
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¥3.40bn
FY2018FY2025
Net income
−CN¥444.2m
FY2018FY2025
Free cash flow
−CN¥1.94bn
FY2018FY2025
Shareholders' equity
CN¥3.67bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.40bn | CN¥1.65bn | CN¥1.06bn | CN¥1.07bn | CN¥780.3m | CN¥663.1m | CN¥513.3m | CN¥370.8m |
| Gross profit | CN¥1.35bn | CN¥884.7m | CN¥528.3m | CN¥530.5m | CN¥389.9m | CN¥331.0m | CN¥254.3m | CN¥171.2m |
| Research and development | CN¥153.8m | CN¥89.5m | CN¥75.0m | CN¥83.8m | CN¥56.5m | CN¥34.1m | CN¥27.1m | CN¥12.5m |
| Operating income | CN¥154.8m | CN¥524.7m | CN¥305.5m | CN¥332.5m | CN¥236.0m | CN¥229.8m | CN¥167.5m | CN¥120.7m |
| Net income | −CN¥444.2m | CN¥242.2m | CN¥181.6m | CN¥260.7m | CN¥188.8m | CN¥172.6m | CN¥119.8m | CN¥90.2m |
| Diluted earnings per share | -0.36 | 0.20 | 0.15 | 0.31 | 0.16 | 0.20 | 0.10 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥17.25bn | CN¥8.22bn | CN¥6.01bn | CN¥3.68bn | CN¥3.03bn | CN¥1.86bn | CN¥1.37bn | CN¥868.1m |
| Cash and short-term investments | CN¥4.59bn | CN¥3.97bn | CN¥3.74bn | CN¥2.19bn | CN¥1.82bn | CN¥871.0m | CN¥652.3m | CN¥200.2m |
| Total liabilities | CN¥12.04bn | CN¥3.15bn | CN¥1.25bn | CN¥714.9m | CN¥304.9m | CN¥287.8m | CN¥354.4m | CN¥338.1m |
| Debt | CN¥9.80bn | CN¥2.42bn | CN¥908.0m | CN¥497.8m | CN¥159.9m | CN¥168.3m | CN¥228.0m | CN¥216.3m |
| Shareholders' equity | CN¥3.67bn | CN¥3.93bn | CN¥3.68bn | CN¥2.75bn | CN¥2.53bn | CN¥1.38bn | CN¥829.8m | CN¥347.3m |
| Shares outstanding | 1,239m | 1,239m | 1,226m | 847m | 1,167m | 872m | 1,163m | 1,163m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥319.6m | CN¥272.1m | CN¥330.0m | CN¥211.4m | CN¥171.7m | CN¥112.5m | CN¥190.5m | CN¥30.3m |
| Capital spending | −CN¥1.62bn | −CN¥913.2m | −CN¥188.6m | −CN¥262.8m | −CN¥128.8m | −CN¥196.3m | −CN¥106.9m | −CN¥89.7m |
| Free cash flow | −CN¥1.94bn | −CN¥641.1m | CN¥141.4m | −CN¥51.3m | CN¥42.8m | −CN¥83.8m | CN¥83.6m | −CN¥59.4m |
| Dividends paid | — | — | — | −CN¥41.8m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.93bn | CN¥2.34bn | CN¥1.06bn | CN¥874.1m | CN¥509.2m | CN¥774.6m | CN¥451.3m | CN¥599.7m |
| Gross profit | CN¥1.12bn | CN¥790.6m | CN¥559.1m | CN¥491.5m | CN¥286.3m | CN¥393.1m | CN¥229.0m | CN¥307.7m |
| Operating income | CN¥170.0m | −CN¥186.0m | CN¥340.8m | CN¥298.2m | CN¥173.7m | CN¥226.5m | CN¥132.0m | CN¥162.3m |
| Net income | −CN¥153.8m | −CN¥516.7m | CN¥72.5m | CN¥135.1m | CN¥78.7m | CN¥107.1m | CN¥62.4m | CN¥96.9m |
| Diluted earnings per share | -0.11 | -0.42 | 0.06 | 0.11 | 0.06 | 0.09 | 0.05 | 0.08 |
| Cash from operations | — | −CN¥258.0m | −CN¥79.0m | CN¥77.0m | — | CN¥194.0m | CN¥113.0m | CN¥165.0m |
| Capital spending | — | −CN¥802.0m | −CN¥862.0m | −CN¥659.0m | — | −CN¥254.0m | −CN¥80.0m | −CN¥141.0m |
| Free cash flow | — | −CN¥1.06bn | −CN¥941.0m | −CN¥582.0m | — | −CN¥60.0m | CN¥33.0m | CN¥24.0m |
| Total assets | CN¥18.41bn | CN¥17.25bn | CN¥9.61bn | CN¥7.05bn | CN¥8.22bn | CN¥5.86bn | CN¥6.83bn | CN¥5.16bn |
| Cash and short-term investments | CN¥5.56bn | CN¥4.59bn | CN¥4.31bn | CN¥3.41bn | CN¥4.04bn | CN¥3.47bn | CN¥4.04bn | CN¥3.20bn |
| Debt | CN¥3.94bn | CN¥9.80bn | CN¥3.50bn | CN¥2.77bn | CN¥1.52bn | CN¥1.36bn | CN¥698.1m | CN¥1.17bn |
| Shareholders' equity | CN¥3.64bn | CN¥3.67bn | CN¥4.02bn | CN¥3.38bn | CN¥3.93bn | CN¥3.26bn | CN¥3.79bn | CN¥3.16bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 39.7% | 53.7% | 49.7% | 49.7% | 50.0% | 49.9% |
| Operating margin | 4.2% | 31.8% | 28.7% | 31.1% | 30.2% | 34.7% |
| Net margin | -13.1% | 14.7% | 17.1% | 24.4% | 24.2% | 26.0% |
| Return on equity | -12.1% | 7.2% | 5.8% | 9.5% | 7.5% | 12.5% |
| Return on assets | -2.6% | 3.4% | 3.5% | 7.1% | 6.2% | 9.3% |
| Free cash flow yield | 9.7% | 10.3% | 3.9% | 5.1% | 2.4% | 3.3% |
| Revenue growth | 76.9% | 55.0% | 16.1% | 36.9% | 17.7% | 29.2% |
| Earnings growth | -257.4% | 33.4% | -18.9% | 38.1% | 9.3% | 44.1% |
| Current ratio | 1.92x | 2.79x | 10.32x | 12.88x | 7.71x | 6.32x |
| Debt to equity | 2.54x | 0.82x | 0.37x | 0.21x | 0.07x | 0.14x |
| Equity ratio | 21.3% | 47.9% | 61.2% | 74.7% | 83.3% | 74.1% |
| Interest coverage | 0.37x | 4.43x | 5.94x | 26.06x | 17.71x | 10.17x |
| R&D as a share of sales | 4.5% | 5.4% | 7.1% | 7.8% | 7.2% | 5.1% |
| Buybacks as a share of market value | 0.0% | -1.1% | -44.7% | 27.4% | -33.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 35.5% | 32.8% | — |
| Operating income | -22.5% | -7.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 44.3% | 45.9% | 46.5% | — |
| Operating margin | 13.5% | 18.4% | 20.7% | — |
| Net margin | -4.0% | 3.3% | 7.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -23.8 | 18.4 | 23.1 | 11.2 | 60.0 |
| Price to sales | 4.0 | 3.1 | 4.3 | 2.7 | 15.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Jun 2022.
| FY2022 | |
|---|---|
| Paid in the year | 0.035 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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