A 
1.52
-2.56%
Close of 9 Nov 2026, in HKD
Search any instrument
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¥1.36bn
FY2019FY2025
Net income
−CN¥786.5m
FY2019FY2025
Free cash flow
−CN¥199.6m
FY2019FY2025
Shareholders' equity
CN¥3.21bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.36bn | CN¥1.29bn | CN¥1.19bn | CN¥1.26bn | CN¥1.57bn | CN¥1.64bn | CN¥1.11bn |
| Gross profit | CN¥885.2m | CN¥953.5m | −CN¥611.2m | CN¥1.03bn | CN¥1.29bn | CN¥1.35bn | CN¥867.6m |
| Research and development | CN¥222.7m | CN¥363.1m | CN¥2.15bn | CN¥500.3m | CN¥307.4m | CN¥157.8m | CN¥115.1m |
| Operating income | −CN¥242.1m | −CN¥237.4m | −CN¥3.51bn | −CN¥419.2m | −CN¥648.7m | CN¥501.6m | CN¥187.6m |
| Net income | −CN¥786.5m | −CN¥277.2m | −CN¥1.30bn | −CN¥319.6m | −CN¥692.8m | CN¥379.3m | CN¥136.7m |
| Diluted earnings per share | -0.64 | -0.23 | -1.07 | -0.27 | -0.72 | 0.44 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.62bn | CN¥8.52bn | CN¥8.46bn | CN¥10.34bn | CN¥9.40bn | CN¥4.69bn | — |
| Cash and short-term investments | CN¥448.0m | CN¥692.7m | CN¥857.5m | CN¥953.6m | CN¥869.6m | CN¥1.10bn | CN¥58.2m |
| Total liabilities | CN¥4.03bn | CN¥4.31bn | CN¥3.93bn | CN¥3.51bn | CN¥2.76bn | CN¥1.27bn | — |
| Debt | CN¥2.05bn | CN¥1.84bn | CN¥1.80bn | CN¥1.40bn | CN¥650.4m | CN¥235.0m | CN¥314.4m |
| Shareholders' equity | CN¥3.21bn | CN¥3.92bn | CN¥4.24bn | CN¥5.78bn | CN¥5.70bn | CN¥3.42bn | — |
| Shares outstanding | 1,227m | 1,211m | 1,211m | 1,205m | 962m | 862m | 834m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥78.6m | CN¥99.2m | −CN¥165.5m | −CN¥128.5m | CN¥108.8m | CN¥250.3m | CN¥380.8m |
| Capital spending | −CN¥278.2m | −CN¥238.3m | −CN¥301.6m | −CN¥997.5m | −CN¥1.33bn | −CN¥667.0m | −CN¥403.1m |
| Free cash flow | −CN¥199.6m | −CN¥139.1m | −CN¥467.1m | −CN¥1.13bn | −CN¥1.22bn | −CN¥416.7m | −CN¥22.3m |
| Dividends paid | — | — | — | — | — | — | −CN¥100.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥402.7m | CN¥758.1m | CN¥599.3m | CN¥747.9m | CN¥537.2m | CN¥647.0m | CN¥540.5m | CN¥672.5m |
| Gross profit | CN¥267.0m | CN¥487.9m | CN¥397.4m | CN¥565.2m | CN¥388.3m | −CN¥1.04bn | CN¥432.6m | CN¥546.0m |
| Operating income | −CN¥132.2m | −CN¥82.5m | −CN¥153.3m | −CN¥86.7m | −CN¥124.2m | −CN¥3.20bn | −CN¥310.1m | −CN¥306.2m |
| Net income | −CN¥141.0m | −CN¥633.9m | −CN¥152.7m | −CN¥138.0m | −CN¥139.3m | −CN¥1.05bn | −CN¥250.4m | −CN¥274.7m |
| Diluted earnings per share | -0.11 | -0.52 | -0.12 | -0.11 | -0.11 | -0.87 | -0.21 | -0.23 |
| Cash from operations | −CN¥56.0m | CN¥191.0m | −CN¥112.0m | CN¥196.0m | −CN¥97.0m | CN¥97.0m | −CN¥249.0m | −CN¥34.0m |
| Capital spending | −CN¥29.0m | −CN¥216.0m | −CN¥61.0m | −CN¥71.0m | −CN¥50.0m | −CN¥90.0m | −CN¥80.0m | −CN¥343.0m |
| Free cash flow | −CN¥85.0m | −CN¥25.0m | −CN¥173.0m | CN¥125.0m | −CN¥147.0m | CN¥7.0m | −CN¥329.0m | −CN¥377.0m |
| Total assets | CN¥7.38bn | CN¥7.62bn | CN¥8.37bn | CN¥7.31bn | CN¥7.32bn | CN¥7.26bn | CN¥8.88bn | CN¥10.34bn |
| Cash and short-term investments | CN¥224.9m | CN¥448.0m | CN¥467.9m | CN¥594.9m | CN¥655.3m | CN¥736.4m | CN¥754.9m | CN¥929.0m |
| Debt | CN¥1.70bn | CN¥2.05bn | CN¥2.07bn | CN¥1.84bn | CN¥1.96bn | CN¥1.80bn | CN¥1.69bn | CN¥1.59bn |
| Shareholders' equity | CN¥3.07bn | CN¥3.21bn | CN¥3.85bn | CN¥3.37bn | CN¥3.50bn | CN¥3.64bn | CN¥4.69bn | CN¥5.78bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 65.9% | 74.2% | -51.5% | 81.3% | 82.5% | 82.7% |
| Operating margin | -18.0% | -17.9% | -187.5% | -32.3% | -38.0% | 30.6% |
| Net margin | -58.5% | -21.6% | -109.6% | -25.3% | -44.1% | 23.2% |
| Return on equity | -24.5% | -8.2% | -35.7% | -6.4% | -14.2% | 11.1% |
| Return on assets | -10.3% | -3.8% | -17.9% | -3.6% | -8.6% | 8.1% |
| Free cash flow yield | 3.7% | 5.4% | -9.1% | -6.1% | — | — |
| Revenue growth | -10.2% | 8.2% | -6.1% | -19.5% | -4.1% | 72.1% |
| Earnings growth | 143.6% | -78.7% | 307.1% | -53.9% | -282.7% | 223.1% |
| Current ratio | 0.66x | 0.77x | 0.95x | 1.13x | 1.50x | 2.16x |
| Debt to equity | 0.64x | 0.54x | 0.49x | 0.28x | 0.12x | 0.06x |
| Equity ratio | 42.2% | 46.0% | 50.2% | 55.9% | 60.6% | 73.0% |
| Interest coverage | -3.69x | -3.78x | -50.80x | -15.90x | -55.69x | 31.87x |
| R&D as a share of sales | 16.6% | 28.3% | 180.9% | 39.6% | 19.6% | 9.6% |
| Buybacks as a share of market value | -1.3% | 0.0% | -0.5% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | -3.7% | — |
| Operating income | -16.7% | — | — |
| Net income | 35.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 69.6% | 44.3% | 59.1% | — |
| Operating margin | -18.1% | -86.6% | -54.9% | — |
| Net margin | -40.3% | -52.7% | -36.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -4.3 | -23.2 | -6.3 | -38.0 |
| Price to sales | 2.5 | 5.0 | 6.9 | 9.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.