S 
3.69
-1.86%
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.
Net income
−CN¥36.4m
FY2019FY2025
Free cash flow
−CN¥394.0m
FY2019FY2025
Shareholders' equity
CN¥1.57bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating income | −CN¥67.9m | CN¥70.9m | CN¥54.8m | CN¥78.2m | CN¥68.7m | CN¥103.6m | CN¥32.0m |
| Net income | −CN¥36.4m | CN¥47.6m | CN¥29.3m | CN¥51.3m | CN¥43.6m | CN¥78.1m | CN¥23.6m |
| Diluted earnings per share | -0.04 | 0.06 | 0.04 | 0.05 | 0.05 | 0.10 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.88bn | CN¥1.25bn | CN¥902.6m | CN¥554.9m | CN¥402.0m | CN¥277.1m | CN¥187.6m |
| Cash and short-term investments | — | — | — | CN¥182.6m | CN¥180.0m | CN¥102.8m | CN¥29.3m |
| Total liabilities | CN¥316.2m | CN¥286.9m | CN¥211.0m | CN¥321.3m | CN¥258.2m | CN¥159.6m | CN¥161.1m |
| Debt | — | — | CN¥5.0m | CN¥10.2m | CN¥13.6m | CN¥1.2m | CN¥2.5m |
| Shareholders' equity | CN¥1.57bn | CN¥953.7m | CN¥684.2m | CN¥233.5m | CN¥143.8m | CN¥117.5m | CN¥26.5m |
| Shares outstanding | 952m | 833m | 802m | 952m | 952m | 800m | 800m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥387.3m | −CN¥21.6m | −CN¥118.8m | CN¥5.5m | −CN¥9.3m | CN¥328.5m | CN¥1.6m |
| Capital spending | −CN¥6.7m | −CN¥27.9m | −CN¥28.4m | −CN¥9.7m | −CN¥53.9m | −CN¥56.1m | −CN¥11.2m |
| Free cash flow | −CN¥394.0m | −CN¥49.5m | −CN¥147.2m | −CN¥4.2m | −CN¥63.1m | CN¥272.4m | −CN¥9.6m |
| Dividends paid | — | — | −CN¥54.0m | — | −CN¥16.7m | — | — |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|
| Operating income | −CN¥83.3m | CN¥15.4m | CN¥41.9m | CN¥28.9m | CN¥35.5m | CN¥23.6m | CN¥70.8m |
| Net income | −CN¥46.6m | CN¥10.3m | CN¥26.4m | CN¥21.2m | CN¥18.3m | CN¥13.0m | CN¥45.9m |
| Diluted earnings per share | -0.05 | 0.01 | 0.03 | 0.03 | 0.02 | 0.02 | 0.06 |
| Cash from operations | — | −CN¥181.0m | −CN¥21.0m | −CN¥21.0m | −CN¥100.0m | — | — |
| Capital spending | — | −CN¥5.0m | −CN¥27.0m | −CN¥6.0m | −CN¥24.0m | — | — |
| Free cash flow | — | −CN¥186.0m | −CN¥48.0m | −CN¥27.0m | −CN¥124.0m | — | — |
| Total assets | CN¥1.88bn | CN¥1.30bn | CN¥1.25bn | CN¥1.14bn | CN¥766.9m | CN¥469.1m | — |
| Cash and short-term investments | CN¥631.3m | CN¥214.4m | CN¥357.8m | — | CN¥145.9m | CN¥85.3m | — |
| Debt | CN¥9.6m | CN¥36.2m | CN¥7.3m | CN¥2.5m | CN¥6.1m | CN¥8.1m | — |
| Shareholders' equity | CN¥1.57bn | CN¥994.0m | CN¥953.7m | CN¥916.9m | CN¥581.4m | CN¥165.5m | — |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -14.2% | 15.0% | 15.8% | 27.5% | 18.8% | — |
| Net margin | -7.7% | 9.6% | 8.0% | 17.5% | 11.9% | — |
| Return on equity | -2.3% | 5.9% | 5.0% | 25.9% | 25.8% | — |
| Return on assets | -1.9% | 4.5% | 3.8% | 10.9% | 9.2% | — |
| Free cash flow yield | -11.1% | 0.2% | -3.1% | — | — | — |
| Revenue growth | -19.1% | 35.7% | 25.0% | -5.8% | — | — |
| Earnings growth | -164.9% | 62.4% | -42.8% | 38.4% | — | — |
| Current ratio | 5.12x | 3.68x | 3.55x | 1.34x | 1.22x | 1.38x |
| Debt to equity | — | 0.00x | 0.01x | 0.04x | 0.09x | 0.00x |
| Equity ratio | 83.6% | 76.5% | 75.8% | 42.1% | 35.8% | 42.4% |
| Interest coverage | -28.42x | 7.84x | 47.59x | 9.59x | 6.71x | — |
| Buybacks as a share of market value | -14.2% | -3.9% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.3% | 0.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 0.3% | 8.4% | 12.6% | — |
| Net margin | 1.2% | 5.6% | 8.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -135.1 | 74.6 | 49.6 |
| Price to sales | 10.4 | 7.2 | 4.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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