S 
25.09
+1.21%
Close of 9 Nov 2026, in CNY
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¥520.0m
FY2018FY2025
Net income
−CN¥272.2m
FY2018FY2025
Free cash flow
−CN¥148.7m
FY2018FY2025
Shareholders' equity
CN¥943.5m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥520.0m | CN¥651.8m | CN¥700.8m | CN¥1.04bn | CN¥678.5m | CN¥281.0m | CN¥122.3m | CN¥28.5m |
| Research and development | CN¥344.9m | CN¥363.5m | CN¥384.2m | CN¥331.7m | CN¥243.6m | CN¥125.5m | CN¥78.7m | CN¥34.3m |
| Operating income | −CN¥272.2m | −CN¥205.2m | −CN¥197.4m | CN¥44.8m | −CN¥30.5m | −CN¥7.4m | CN¥35.7m | −CN¥8.8m |
| Net income | −CN¥272.2m | −CN¥205.1m | −CN¥197.2m | CN¥59.8m | −CN¥30.8m | −CN¥6.2m | CN¥35.9m | −CN¥8.9m |
| Diluted earnings per share | -0.68 | -0.51 | -0.49 | 0.15 | -0.04 | -0.02 | 0.09 | -0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.13bn | CN¥1.39bn | CN¥1.63bn | CN¥1.88bn | CN¥1.73bn | CN¥442.8m | CN¥398.7m | CN¥143.4m |
| Cash and short-term investments | — | CN¥532.1m | CN¥657.0m | CN¥863.9m | CN¥1.21bn | CN¥238.6m | CN¥193.3m | CN¥29.2m |
| Total liabilities | CN¥188.2m | CN¥172.8m | CN¥184.7m | CN¥270.7m | CN¥220.7m | CN¥119.2m | CN¥89.9m | CN¥72.0m |
| Debt | — | CN¥7.3m | CN¥61.4m | CN¥16.5m | CN¥14.1m | CN¥42.2m | CN¥12.0m | — |
| Shareholders' equity | CN¥943.5m | CN¥1.22bn | CN¥1.45bn | CN¥1.61bn | CN¥1.51bn | CN¥323.6m | CN¥308.8m | CN¥71.4m |
| Shares outstanding | 399m | 401m | 401m | 400m | 771m | 347m | 399m | 399m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥128.6m | −CN¥61.9m | −CN¥193.3m | −CN¥282.3m | −CN¥162.5m | CN¥58.5m | −CN¥68.7m | CN¥29.1m |
| Capital spending | −CN¥20.1m | −CN¥26.8m | −CN¥55.5m | −CN¥62.7m | −CN¥59.2m | −CN¥22.3m | −CN¥13.3m | −CN¥10.2m |
| Free cash flow | −CN¥148.7m | −CN¥88.7m | −CN¥248.8m | −CN¥345.0m | −CN¥221.7m | CN¥36.2m | −CN¥82.1m | CN¥18.9m |
| Dividends paid | — | −CN¥867,666 | −CN¥1.9m | — | −CN¥135,946 | — | — | −CN¥7,262 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥266.2m | CN¥165.6m | CN¥151.8m | CN¥144.9m | CN¥130.0m | CN¥93.3m | CN¥155.6m | CN¥178.8m |
| Operating income | −CN¥11.2m | −CN¥36.7m | −CN¥81.0m | −CN¥48.8m | −CN¥82.0m | −CN¥60.4m | −CN¥47.2m | −CN¥35.8m |
| Net income | −CN¥33.7m | −CN¥40.8m | −CN¥81.0m | −CN¥48.8m | −CN¥82.0m | −CN¥60.4m | −CN¥47.2m | −CN¥35.8m |
| Diluted earnings per share | -0.08 | -0.10 | -0.20 | -0.12 | -0.21 | -0.15 | -0.12 | -0.09 |
| Cash from operations | — | — | — | −CN¥26.0m | −CN¥46.0m | −CN¥14.0m | — | — |
| Capital spending | −CN¥27.0m | −CN¥5.0m | −CN¥7.0m | −CN¥1.0m | −CN¥5.0m | −CN¥5.0m | −CN¥7.0m | −CN¥12.0m |
| Free cash flow | — | — | — | −CN¥27.0m | −CN¥51.0m | −CN¥19.0m | — | — |
| Total assets | CN¥1.08bn | CN¥1.10bn | CN¥1.13bn | CN¥1.17bn | CN¥1.20bn | CN¥1.28bn | CN¥1.39bn | CN¥1.44bn |
| Cash and short-term investments | — | — | — | CN¥423.6m | CN¥455.3m | CN¥508.6m | CN¥532.1m | CN¥581.4m |
| Debt | — | — | — | CN¥25.2m | CN¥10.6m | — | — | — |
| Shareholders' equity | CN¥869.2m | CN¥902.8m | CN¥943.5m | CN¥1.02bn | CN¥1.07bn | CN¥1.16bn | CN¥1.22bn | CN¥1.29bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -52.4% | -31.5% | -28.2% | 4.3% | -4.5% | -2.6% |
| Net margin | -52.4% | -31.5% | -28.1% | 5.7% | -4.5% | -2.2% |
| Return on equity | -28.9% | -16.9% | -13.6% | 3.7% | -2.0% | -1.9% |
| Return on assets | -24.1% | -14.8% | -12.1% | 3.2% | -1.8% | -1.4% |
| Free cash flow yield | -1.0% | -0.3% | -1.2% | -2.0% | -0.5% | 0.8% |
| Revenue growth | -20.2% | -7.0% | -32.7% | 53.6% | 141.4% | 129.7% |
| Earnings growth | 32.7% | 4.0% | -429.6% | -293.9% | 398.6% | -117.2% |
| Current ratio | 6.20x | 9.01x | 11.39x | 7.34x | 8.29x | 4.07x |
| Debt to equity | — | — | 0.02x | 0.00x | 0.01x | 0.02x |
| Equity ratio | 83.4% | 87.6% | 88.7% | 85.6% | 87.2% | 73.1% |
| Interest coverage | -462.14x | -186.98x | -48.71x | 49.07x | -28.48x | -73.21x |
| R&D as a share of sales | 66.3% | 55.8% | 54.8% | 31.8% | 35.9% | 44.7% |
| Buybacks as a share of market value | 0.4% | 0.0% | -0.2% | 48.1% | -122.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.7% | 13.1% | — |
| Operating income | — | 105.8% | — |
| Net income | — | 113.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -40.7% | -21.6% | -17.2% | — |
| Net margin | -40.7% | -21.1% | -16.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -39.9 | -57.8 | -74.8 | 429.5 | -1792.3 |
| Price to sales | 20.9 | 18.2 | 21.0 | 24.7 | 81.5 |
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.