B 
69.25
-0.23%
Close of 9 Nov 2026, in CNY
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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¥210.5m
FY2016FY2025
Free cash flow
−CN¥126.9m
FY2016FY2025
Shareholders' equity
CN¥2.93bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | CN¥162.3m | CN¥113.3m | CN¥132.9m | CN¥191.1m | CN¥131.9m | CN¥47.6m | CN¥29.0m | CN¥18.4m | CN¥15.6m | CN¥13.3m |
| Operating income | −CN¥262.6m | −CN¥185.6m | CN¥18.7m | CN¥1.09bn | CN¥2.58bn | CN¥128.0m | CN¥38.6m | CN¥55.8m | CN¥34.6m | CN¥30.4m |
| Net income | −CN¥210.5m | −CN¥191.0m | CN¥28.9m | CN¥944.7m | CN¥2.19bn | CN¥112.1m | CN¥33.9m | CN¥48.1m | CN¥30.1m | CN¥28.8m |
| Diluted earnings per share | -1.91 | -2.07 | 0.34 | 10.53 | 23.76 | 1.28 | 0.38 | 0.69 | 0.27 | 0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.18bn | CN¥3.33bn | CN¥3.56bn | CN¥3.90bn | CN¥3.64bn | CN¥902.5m | CN¥725.7m | CN¥267.1m | CN¥189.7m | CN¥160.1m |
| Cash and short-term investments | CN¥1.09bn | CN¥471.7m | CN¥552.4m | CN¥1.41bn | CN¥2.09bn | CN¥382.6m | CN¥422.8m | CN¥63.8m | CN¥48.6m | CN¥96.5m |
| Total liabilities | −CN¥2.93bn | CN¥251.8m | CN¥202.6m | CN¥545.6m | CN¥771.0m | CN¥155.7m | CN¥76.4m | CN¥56.7m | CN¥28.0m | CN¥29.1m |
| Debt | — | CN¥121,004 | CN¥15.3m | CN¥42.1m | CN¥36.0m | CN¥26.5m | CN¥23.8m | — | CN¥155,576 | CN¥3.2m |
| Shareholders' equity | CN¥2.93bn | CN¥3.08bn | CN¥3.37bn | CN¥3.34bn | CN¥2.84bn | CN¥742.7m | CN¥645.2m | CN¥209.8m | CN¥161.7m | CN¥131.0m |
| Shares outstanding | 110m | 92m | 86m | 90m | 92m | 87m | 90m | 70m | 110m | 110m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥83.4m | −CN¥37.2m | −CN¥25.4m | CN¥978.8m | CN¥2.64bn | CN¥164.6m | CN¥19.4m | CN¥55.0m | CN¥23.0m | CN¥45.5m |
| Capital spending | −CN¥43.6m | −CN¥51.4m | −CN¥413.4m | −CN¥565.2m | −CN¥398.9m | −CN¥172.3m | −CN¥88.5m | −CN¥42.0m | −CN¥69.0m | −CN¥21.2m |
| Free cash flow | −CN¥126.9m | −CN¥88.6m | −CN¥438.8m | CN¥413.5m | CN¥2.25bn | −CN¥7.6m | −CN¥69.1m | CN¥13.0m | −CN¥46.1m | CN¥24.4m |
| Dividends paid | −CN¥1.7m | −CN¥17.3m | — | −CN¥311.0m | −CN¥93.3m | −CN¥18.7m | −CN¥1.0m | −CN¥3,276 | −CN¥26,630 | −CN¥2.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −CN¥58.1m | −CN¥82.8m | −CN¥149.1m | −CN¥21.0m | −CN¥66.7m | −CN¥24.0m | −CN¥147.3m | CN¥3.8m |
| Net income | −CN¥58.1m | −CN¥68.1m | −CN¥101.6m | −CN¥25.0m | −CN¥60.0m | −CN¥24.0m | −CN¥150.4m | CN¥2.8m |
| Diluted earnings per share | -0.53 | -0.62 | -0.92 | -0.23 | -0.54 | -0.22 | -1.63 | 0.03 |
| Cash from operations | — | — | — | CN¥3.0m | CN¥27.0m | CN¥48.0m | — | −CN¥5.0m |
| Capital spending | −CN¥35.0m | −CN¥15.0m | −CN¥23.0m | −CN¥14.0m | −CN¥1.0m | −CN¥3.0m | −CN¥2.0m | −CN¥20.0m |
| Free cash flow | — | — | — | −CN¥11.0m | CN¥26.0m | CN¥45.0m | — | −CN¥25.0m |
| Total assets | CN¥3.06bn | CN¥3.09bn | CN¥3.18bn | CN¥3.21bn | CN¥3.25bn | CN¥3.27bn | CN¥3.33bn | CN¥3.41bn |
| Cash and short-term investments | — | — | CN¥1.09bn | CN¥789.9m | CN¥582.6m | CN¥737.7m | CN¥471.7m | CN¥460.2m |
| Debt | — | — | — | CN¥59.7m | CN¥50.0m | CN¥50.0m | — | — |
| Shareholders' equity | CN¥2.44bn | CN¥2.43bn | CN¥2.93bn | CN¥2.93bn | CN¥2.94bn | CN¥2.98bn | CN¥3.08bn | CN¥3.26bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -64.4% | -36.3% | 3.4% | 30.7% | 48.1% | 24.9% | — | — | — |
| Net margin | -51.6% | -37.4% | 5.3% | 26.6% | 40.7% | 21.8% | — | — | — |
| Return on equity | -7.2% | -6.2% | 0.9% | 28.3% | 76.9% | 15.1% | — | — | — |
| Return on assets | -6.6% | -5.7% | 0.8% | 24.2% | 60.0% | 12.4% | — | — | — |
| Free cash flow yield | -0.4% | 0.2% | 4.8% | 18.2% | 35.0% | 4.1% | — | — | — |
| Revenue growth | -20.2% | -6.7% | -84.6% | -33.8% | 945.5% | 144.1% | — | — | — |
| Earnings growth | 10.2% | -760.4% | -96.9% | -56.8% | 1850.4% | 230.8% | — | — | — |
| Current ratio | 6.44x | 5.48x | 4.48x | 3.52x | 3.43x | 4.08x | — | — | — |
| Debt to equity | — | — | — | 0.01x | — | 0.01x | 0.04x | 0.00x | 0.02x |
| Equity ratio | 92.1% | 92.5% | 94.6% | 85.5% | 78.0% | 82.3% | — | — | — |
| Interest coverage | -29.84x | -333.37x | 16.69x | 423.63x | 1909.07x | 284.45x | — | — | — |
| R&D as a share of sales | 39.8% | 22.2% | 24.3% | 5.4% | 2.5% | 9.3% | — | — | — |
| Buybacks as a share of market value | -19.1% | -7.7% | 4.3% | 2.4% | -5.5% | 2.6% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -51.4% | -4.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -84.8 | -29.9 | 121.9 | 5.8 | 3.3 | 20.5 | 83.9 |
| Price to sales | 43.8 | 11.2 | 6.4 | 1.5 | 1.3 | 4.5 | 13.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Jul 2024.
| FY2024 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|
| Paid in the year | 0.20 | 5.00 | 1.014 | 0.203 |
- 1.48-for-1 split · 16 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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