S 
30.96
+0.36%
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.
Revenue
CN¥2.43bn
FY2016FY2025
Net income
−CN¥851.8m
FY2016FY2025
Free cash flow
−CN¥1.21bn
FY2016FY2025
Shareholders' equity
CN¥6.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.43bn | CN¥1.67bn | CN¥1.29bn | CN¥1.45bn | CN¥4.02bn | CN¥1.37bn | CN¥664.5m | CN¥800,687 | CN¥984,142 | CN¥3.2m |
| Research and development | CN¥1.34bn | CN¥1.09bn | CN¥1.66bn | CN¥2.38bn | CN¥2.07bn | CN¥1.52bn | CN¥811.1m | CN¥461.4m | CN¥236.0m | CN¥104.6m |
| Operating income | −CN¥952.4m | −CN¥1.16bn | −CN¥2.10bn | −CN¥2.75bn | −CN¥592.7m | −CN¥1.45bn | −CN¥655.3m | −CN¥615.1m | −CN¥253.4m | −CN¥124.5m |
| Net income | −CN¥851.8m | −CN¥1.10bn | −CN¥1.96bn | −CN¥2.39bn | −CN¥718.6m | −CN¥1.43bn | −CN¥638.0m | −CN¥614.2m | −CN¥275.2m | −CN¥113.1m |
| Diluted earnings per share | -0.82 | -1.12 | -1.98 | -2.55 | -0.81 | -1.62 | -0.83 | -136.34 | -158.87 | -1.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.39bn | CN¥10.80bn | CN¥11.36bn | CN¥12.58bn | CN¥11.05bn | CN¥6.87bn | CN¥3.79bn | CN¥3.65bn | CN¥1.05bn | CN¥985.0m |
| Cash and short-term investments | CN¥3.22bn | CN¥2.93bn | CN¥3.78bn | CN¥6.00bn | CN¥3.50bn | CN¥2.90bn | CN¥1.04bn | CN¥2.37bn | CN¥354.7m | CN¥415.7m |
| Total liabilities | CN¥6.16bn | CN¥4.85bn | CN¥4.02bn | CN¥2.78bn | CN¥2.72bn | CN¥1.86bn | CN¥1.23bn | CN¥802.6m | CN¥86.0m | CN¥19.2m |
| Debt | CN¥4.14bn | CN¥2.93bn | CN¥1.79bn | CN¥1.32bn | CN¥628.2m | CN¥707.7m | CN¥662.0m | CN¥489.0m | CN¥126.4m | CN¥320.2m |
| Shareholders' equity | CN¥6.03bn | CN¥5.86bn | CN¥7.17bn | CN¥9.50bn | CN¥7.96bn | CN¥5.01bn | CN¥2.56bn | CN¥2.85bn | CN¥960.6m | CN¥966.6m |
| Shares outstanding | 1,042m | 984m | 986m | 936m | 886m | 880m | 769m | 5m | 2m | 89m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥465.8m | −CN¥1.23bn | −CN¥2.01bn | −CN¥1.78bn | −CN¥641.9m | −CN¥1.28bn | −CN¥1.02bn | −CN¥437.9m | −CN¥297.5m | −CN¥158.8m |
| Capital spending | −CN¥748.4m | −CN¥592.4m | −CN¥832.6m | −CN¥394.0m | −CN¥886.2m | −CN¥508.1m | −CN¥739.9m | −CN¥477.8m | −CN¥286.3m | −CN¥171.3m |
| Free cash flow | −CN¥1.21bn | −CN¥1.82bn | −CN¥2.85bn | −CN¥2.17bn | −CN¥1.53bn | −CN¥1.79bn | −CN¥1.76bn | −CN¥915.7m | −CN¥583.8m | −CN¥330.0m |
| Dividends paid | — | −CN¥63.3m | −CN¥38.2m | −CN¥19.2m | −CN¥16.7m | −CN¥37.0m | −CN¥50.2m | −CN¥50.2m | −CN¥50.2m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥965.8m | CN¥719.7m | CN¥682.3m | CN¥637.3m | CN¥667.8m | CN¥500.6m | CN¥580.5m | CN¥485.1m |
| Operating income | −CN¥41.9m | −CN¥110.2m | −CN¥279.6m | −CN¥178.0m | −CN¥193.3m | −CN¥281.7m | −CN¥316.9m | −CN¥293.4m |
| Net income | CN¥42.0m | −CN¥20.4m | −CN¥274.6m | −CN¥183.0m | −CN¥177.8m | −CN¥234.9m | −CN¥303.6m | −CN¥281.8m |
| Diluted earnings per share | 0.04 | -0.02 | -0.26 | -0.18 | -0.17 | -0.23 | -0.31 | -0.29 |
| Cash from operations | −CN¥104.0m | CN¥59.0m | −CN¥141.0m | −CN¥29.0m | −CN¥305.0m | −CN¥24.0m | −CN¥320.0m | −CN¥248.0m |
| Capital spending | −CN¥89.0m | −CN¥249.0m | −CN¥256.0m | −CN¥200.0m | −CN¥152.0m | −CN¥161.0m | −CN¥70.0m | −CN¥225.0m |
| Free cash flow | −CN¥193.0m | −CN¥190.0m | −CN¥397.0m | −CN¥229.0m | −CN¥457.0m | −CN¥185.0m | −CN¥390.0m | −CN¥473.0m |
| Total assets | CN¥14.25bn | CN¥14.10bn | CN¥12.39bn | CN¥11.69bn | CN¥11.68bn | CN¥10.90bn | CN¥9.24bn | CN¥10.86bn |
| Cash and short-term investments | CN¥3.70bn | CN¥4.55bn | CN¥3.22bn | CN¥3.27bn | CN¥3.51bn | CN¥3.02bn | CN¥2.51bn | CN¥3.04bn |
| Debt | CN¥1.44bn | CN¥1.34bn | CN¥4.15bn | CN¥1.49bn | CN¥3.49bn | CN¥943.9m | CN¥2.51bn | CN¥845.4m |
| Shareholders' equity | CN¥5.94bn | CN¥5.88bn | CN¥6.03bn | CN¥6.22bn | CN¥6.37bn | CN¥5.62bn | CN¥5.02bn | CN¥6.17bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -40.0% | -69.3% | -163.6% | -189.3% | -14.2% | -104.3% |
| Net margin | -35.0% | -65.7% | -152.0% | -164.2% | -17.9% | -104.6% |
| Return on equity | -14.5% | -21.8% | -31.9% | -25.1% | -9.1% | -28.6% |
| Return on assets | -7.1% | -11.9% | -20.1% | -19.0% | -6.5% | -20.8% |
| Free cash flow yield | 0.8% | -2.2% | -3.4% | -4.2% | 0.8% | -2.9% |
| Revenue growth | 28.2% | 29.7% | 3.4% | -63.9% | 152.4% | 105.8% |
| Earnings growth | -31.7% | -43.9% | -4.3% | 231.0% | -56.8% | 123.2% |
| Current ratio | 1.60x | 1.69x | 2.25x | 4.06x | 2.91x | 3.19x |
| Debt to equity | 0.68x | 0.49x | 0.25x | 0.13x | 0.07x | 0.14x |
| Equity ratio | 48.7% | 54.4% | 63.0% | 75.6% | 72.0% | 72.9% |
| Interest coverage | -13.24x | -26.29x | -84.72x | -93.67x | -26.25x | -56.59x |
| R&D as a share of sales | 53.7% | 65.5% | 128.9% | 164.0% | 51.4% | 111.5% |
| Buybacks as a share of market value | -5.9% | 0.2% | -5.3% | -5.6% | -0.7% | -14.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.7% | 12.2% | 221.5% |
| Operating income | -29.8% | -8.1% | 109.7% |
| Net income | -29.1% | -9.8% | 114.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -51.4% | -101.7% | -73.6% | -82.6% |
| Net margin | -47.5% | -91.9% | -69.0% | -78.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -41.9 | -24.5 | -21.1 | -24.6 | -82.6 | -50.0 |
| Price to sales | 14.7 | 16.1 | 32.0 | 40.3 | 14.8 | 52.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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