M 
6.90
—
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¥288.3m
FY2019FY2025
Net income
CN¥30.7m
FY2019FY2025
Free cash flow
−CN¥19.5m
FY2019FY2025
Shareholders' equity
CN¥712.7m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥288.3m | CN¥191.6m | CN¥151.3m | CN¥145.7m | CN¥237.2m | CN¥203.2m | CN¥123.7m |
| Gross profit | CN¥136.9m | CN¥139.2m | CN¥88.3m | CN¥81.7m | CN¥166.7m | CN¥146.2m | CN¥78.5m |
| Research and development | CN¥20.2m | CN¥22.4m | CN¥24.7m | CN¥19.4m | CN¥11.4m | CN¥4.4m | CN¥4.4m |
| Operating income | CN¥45.6m | CN¥64.6m | CN¥18.9m | CN¥2.5m | CN¥109.8m | CN¥111.5m | CN¥64.3m |
| Net income | CN¥30.7m | CN¥52.5m | CN¥30.0m | −CN¥17.6m | CN¥79.0m | CN¥79.1m | CN¥29.7m |
| Diluted earnings per share | 0.14 | 0.26 | 0.15 | -0.08 | 0.39 | 0.33 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥971.0m | CN¥861.4m | CN¥796.5m | CN¥823.2m | CN¥900.8m | CN¥453.6m | CN¥263.7m |
| Cash and short-term investments | CN¥508.2m | CN¥571.9m | CN¥518.3m | CN¥466.4m | CN¥278.9m | CN¥208.4m | CN¥52.6m |
| Total liabilities | CN¥258.3m | CN¥144.4m | CN¥151.7m | CN¥102.3m | CN¥90.6m | CN¥277.2m | CN¥266.4m |
| Debt | CN¥34.3m | CN¥37.8m | CN¥48.6m | CN¥11.0m | CN¥11.6m | CN¥22.8m | CN¥36.9m |
| Shareholders' equity | CN¥712.7m | CN¥717.0m | CN¥644.8m | CN¥720.9m | CN¥810.1m | CN¥176.4m | −CN¥2.7m |
| Shares outstanding | 224m | 201m | 202m | 212m | 201m | 239m | 239m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥19.3m | CN¥66.7m | CN¥163.7m | −CN¥8.1m | CN¥35.7m | CN¥102.8m | CN¥37.3m |
| Capital spending | −CN¥184,308 | −CN¥904,042 | −CN¥36.1m | −CN¥6.1m | −CN¥5.2m | −CN¥1.0m | −CN¥761,000 |
| Free cash flow | −CN¥19.5m | CN¥65.8m | CN¥127.6m | −CN¥14.1m | CN¥30.6m | CN¥101.8m | CN¥36.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥224.8m | CN¥190.3m | CN¥94.8m | CN¥66.4m | CN¥107.3m | CN¥62.6m | CN¥52.4m | CN¥30.6m |
| Gross profit | CN¥74.4m | CN¥65.6m | CN¥70.2m | CN¥58.0m | CN¥69.6m | CN¥40.6m | CN¥23.0m | CN¥13.4m |
| Operating income | CN¥33.8m | −CN¥1.8m | CN¥39.3m | CN¥13.3m | CN¥31.3m | CN¥18.2m | −CN¥17.9m | −CN¥5.0m |
| Net income | CN¥28.9m | −CN¥275,290 | CN¥31.8m | CN¥9.4m | CN¥37.0m | CN¥21.6m | −CN¥5.1m | −CN¥3.0m |
| Diluted earnings per share | 0.14 | -0.00 | 0.14 | 0.05 | 0.18 | 0.11 | -0.03 | -0.01 |
| Cash from operations | — | −CN¥17.0m | −CN¥1.0m | CN¥66.0m | CN¥14.0m | CN¥8.0m | CN¥112.0m | CN¥56.0m |
| Capital spending | — | — | — | — | — | — | −CN¥27.0m | −CN¥13.0m |
| Free cash flow | — | — | — | — | — | — | CN¥85.0m | CN¥43.0m |
| Total assets | CN¥968.0m | CN¥971.0m | CN¥802.6m | CN¥861.4m | CN¥832.1m | CN¥970.6m | CN¥796.5m | CN¥929.2m |
| Cash and short-term investments | CN¥495.2m | CN¥508.2m | CN¥536.0m | CN¥571.9m | CN¥508.9m | CN¥593.7m | CN¥518.3m | CN¥613.9m |
| Debt | CN¥10.4m | CN¥34.3m | CN¥44.1m | CN¥37.8m | CN¥41.4m | CN¥4.7m | CN¥48.6m | CN¥14.6m |
| Shareholders' equity | CN¥706.2m | CN¥712.7m | CN¥713.4m | CN¥717.0m | CN¥662.6m | CN¥773.0m | CN¥644.8m | CN¥752.2m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 47.5% | 72.7% | 58.4% | 56.1% | 70.3% | 72.0% |
| Operating margin | 13.8% | 33.7% | 24.7% | -14.2% | 43.3% | 54.8% |
| Net margin | 10.9% | 27.4% | 19.9% | -12.1% | 33.3% | 38.9% |
| Return on equity | 4.4% | 7.3% | 4.7% | -2.9% | 11.4% | 44.8% |
| Return on assets | 3.2% | 6.1% | 3.8% | -2.5% | 10.2% | 17.4% |
| Free cash flow yield | -1.1% | 3.6% | 11.5% | -0.5% | 2.2% | — |
| Revenue growth | 50.5% | 8.5% | 3.8% | -38.6% | 16.7% | 64.3% |
| Earnings growth | -40.0% | 50.0% | -270.5% | -122.3% | -0.1% | 166.4% |
| Current ratio | 3.64x | 6.90x | 5.84x | 7.62x | 9.82x | 1.36x |
| Debt to equity | 0.04x | 0.03x | 0.05x | 0.02x | 0.02x | 0.90x |
| Equity ratio | 73.4% | 83.2% | 81.0% | 87.6% | 89.9% | 38.9% |
| Interest coverage | 25.70x | 32.20x | 33.25x | -28.79x | 14.88x | 6.73x |
| R&D as a share of sales | 7.0% | 11.7% | 14.8% | 13.3% | 4.8% | 2.2% |
| Buybacks as a share of market value | 1.8% | -12.8% | 4.5% | -5.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.5% | 7.2% | — |
| Operating income | 162.4% | -16.4% | — |
| Net income | — | -17.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 57.5% | 57.4% | 62.4% | — |
| Operating margin | 23.0% | 16.9% | 29.0% | — |
| Net margin | 17.3% | 12.3% | 20.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 47.3 | 39.4 | 63.1 | -142.9 |
| Price to sales | 5.0 | 10.8 | 12.5 | 17.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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