A 
5.37
-3.24%
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¥751.8m
FY2019FY2025
Net income
CN¥139.0m
FY2019FY2025
Free cash flow
CN¥169.6m
FY2019FY2025
Shareholders' equity
CN¥1.72bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥751.8m | CN¥534.0m | CN¥473.8m | CN¥395.5m | CN¥354.3m | CN¥226.2m | CN¥145.7m |
| Gross profit | CN¥555.5m | CN¥402.7m | CN¥377.4m | CN¥336.4m | CN¥310.1m | CN¥191.0m | CN¥123.5m |
| Research and development | CN¥249.2m | CN¥216.8m | CN¥190.1m | CN¥183.8m | CN¥164.8m | CN¥97.4m | CN¥29.7m |
| Operating income | CN¥155.3m | CN¥64.0m | CN¥25.0m | CN¥72.1m | −CN¥74.0m | −CN¥35.0m | CN¥30.3m |
| Net income | CN¥139.0m | CN¥52.3m | CN¥14.5m | CN¥70.1m | −CN¥92.2m | −CN¥51.1m | CN¥26.9m |
| Diluted earnings per share | 0.46 | 0.17 | 0.05 | 0.23 | -0.33 | -0.25 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.18bn | CN¥1.94bn | CN¥1.88bn | CN¥1.64bn | CN¥1.52bn | CN¥318.3m | CN¥130.9m |
| Cash and short-term investments | CN¥1.11bn | CN¥944.1m | CN¥1.03bn | CN¥1.15bn | CN¥1.33bn | CN¥171.5m | CN¥36.8m |
| Total liabilities | CN¥457.4m | CN¥364.7m | CN¥366.8m | CN¥156.8m | CN¥116.8m | CN¥646.0m | CN¥87.7m |
| Debt | CN¥285.0m | CN¥202.9m | CN¥234.0m | CN¥47.8m | CN¥24.6m | CN¥175.2m | CN¥19.9m |
| Shareholders' equity | CN¥1.72bn | CN¥1.57bn | CN¥1.51bn | CN¥1.49bn | CN¥1.41bn | −CN¥327.7m | CN¥43.2m |
| Shares outstanding | 302m | 301m | 301m | 299m | 277m | 208m | 313m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥195.1m | CN¥102.8m | −CN¥15.0m | −CN¥80.2m | −CN¥12.2m | −CN¥10.2m | CN¥23.2m |
| Capital spending | −CN¥25.5m | −CN¥97.5m | −CN¥92.9m | −CN¥54.5m | −CN¥24.8m | −CN¥21.7m | −CN¥3.1m |
| Free cash flow | CN¥169.6m | CN¥5.3m | −CN¥107.9m | −CN¥134.6m | −CN¥37.0m | −CN¥31.9m | CN¥20.0m |
| Dividends paid | — | — | — | — | −CN¥376.8m | −CN¥376.8m | −CN¥376.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥193.3m | CN¥193.3m | CN¥171.1m | CN¥171.1m | CN¥204.8m | CN¥204.8m | CN¥120.8m | CN¥140.9m |
| Gross profit | CN¥136.0m | CN¥136.0m | CN¥125.8m | CN¥125.8m | CN¥151.9m | CN¥151.9m | CN¥92.8m | CN¥108.2m |
| Operating income | −CN¥43.9m | −CN¥43.9m | CN¥22.2m | CN¥22.2m | CN¥55.4m | CN¥55.4m | CN¥8.9m | CN¥10.4m |
| Net income | −CN¥47.1m | −CN¥47.1m | CN¥17.8m | CN¥17.8m | CN¥51.6m | CN¥51.6m | CN¥6.2m | CN¥7.2m |
| Diluted earnings per share | -0.16 | -0.16 | 0.06 | 0.06 | 0.17 | 0.17 | 0.02 | 0.02 |
| Cash from operations | — | — | CN¥4.0m | CN¥4.0m | CN¥82.0m | CN¥82.0m | CN¥26.0m | CN¥30.0m |
| Capital spending | — | — | −CN¥6.0m | −CN¥6.0m | −CN¥6.0m | −CN¥6.0m | −CN¥11.0m | −CN¥13.0m |
| Free cash flow | — | — | −CN¥2.0m | −CN¥2.0m | CN¥76.0m | CN¥76.0m | CN¥15.0m | CN¥17.0m |
| Total assets | CN¥2.08bn | CN¥2.08bn | CN¥2.18bn | CN¥2.18bn | CN¥2.13bn | CN¥2.13bn | CN¥1.66bn | CN¥1.94bn |
| Cash and short-term investments | CN¥940.9m | CN¥940.9m | CN¥1.11bn | CN¥1.11bn | CN¥1.16bn | CN¥1.16bn | CN¥809.6m | CN¥944.1m |
| Debt | CN¥66.2m | CN¥66.2m | CN¥285.0m | CN¥108.9m | CN¥275.4m | CN¥90.5m | CN¥202.9m | CN¥39.2m |
| Shareholders' equity | CN¥1.63bn | CN¥1.63bn | CN¥1.72bn | CN¥1.72bn | CN¥1.68bn | CN¥1.68bn | CN¥1.35bn | CN¥1.57bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 73.9% | 75.4% | 79.6% | 85.0% | 87.5% | 84.4% |
| Operating margin | 16.4% | 11.7% | 5.1% | 18.1% | -20.9% | -15.5% |
| Net margin | 18.5% | 9.8% | 3.1% | 17.7% | -26.0% | -22.6% |
| Return on equity | 8.1% | 3.9% | 1.1% | 5.5% | -6.6% | 15.6% |
| Return on assets | 6.4% | 3.1% | 0.9% | 5.0% | -6.0% | -16.1% |
| Free cash flow yield | 9.5% | 5.9% | -0.7% | -3.9% | -0.6% | -0.7% |
| Revenue growth | 20.7% | 12.7% | 19.8% | 30.2% | 56.6% | 55.3% |
| Earnings growth | 128.0% | 260.9% | -79.3% | -188.7% | 80.4% | -289.8% |
| Current ratio | 5.73x | 8.98x | 10.42x | 12.73x | 14.11x | 0.54x |
| Debt to equity | 0.06x | 0.02x | 0.03x | 0.02x | 0.01x | -0.55x |
| Equity ratio | 79.0% | 81.2% | 80.5% | 90.5% | 92.3% | -103.0% |
| Interest coverage | 11.27x | 5.43x | 2.47x | 50.70x | -16.58x | -21.11x |
| R&D as a share of sales | 33.1% | 40.6% | 40.1% | 46.5% | 46.5% | 43.0% |
| Buybacks as a share of market value | -0.4% | 0.1% | -0.6% | -7.9% | -33.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 22.5% | 27.7% | — |
| Operating income | 29.2% | — | — |
| Net income | 25.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.5% | 77.6% | 79.4% | — |
| Operating margin | 17.1% | 14.7% | 7.6% | — |
| Net margin | 14.9% | 12.8% | 4.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 25.3 | 29.8 | 203.2 | 63.5 | -30.0 |
| Price to sales | 4.6 | 2.9 | 6.2 | 10.8 | 7.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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