T 
15.43
-0.26%
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¥283.3m
FY2016FY2025
Net income
−CN¥184.0m
FY2016FY2025
Free cash flow
−CN¥80.9m
FY2016FY2025
Shareholders' equity
CN¥1.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥283.3m | CN¥178.8m | CN¥210.0m | CN¥156.2m | CN¥156.0m | CN¥135.9m | CN¥229.6m | CN¥126.7m | CN¥73.3m | CN¥25.6m |
| Gross profit | CN¥283.3m | CN¥124.7m | CN¥138.9m | CN¥102.2m | CN¥106.0m | CN¥104.2m | CN¥194.9m | CN¥96.3m | CN¥49.3m | CN¥11.0m |
| Research and development | CN¥123.2m | CN¥85.6m | CN¥140.3m | CN¥122.6m | CN¥109.8m | CN¥74.1m | CN¥77.0m | CN¥41.5m | CN¥22.3m | CN¥16.3m |
| Operating income | −CN¥147.6m | −CN¥157.7m | −CN¥211.6m | −CN¥174.9m | −CN¥104.5m | −CN¥64.1m | −CN¥39.5m | −CN¥8.1m | CN¥12.6m | −CN¥34.0m |
| Net income | −CN¥184.0m | −CN¥121.1m | −CN¥156.4m | −CN¥110.6m | −CN¥79.9m | −CN¥54.5m | −CN¥31.0m | −CN¥855,975 | CN¥21.7m | −CN¥25.7m |
| Diluted earnings per share | -0.42 | -0.26 | -0.36 | -0.26 | -0.20 | -0.13 | -0.08 | -0.01 | 0.12 | -0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.71bn | CN¥1.69bn | CN¥1.62bn | CN¥1.41bn | CN¥1.28bn | CN¥1.12bn | CN¥713.6m | CN¥662.7m | CN¥622.7m | CN¥185.8m |
| Cash and short-term investments | CN¥347.8m | CN¥260.2m | CN¥360.9m | CN¥251.6m | CN¥407.7m | CN¥720.7m | CN¥425.4m | CN¥281.7m | CN¥477.4m | CN¥37.3m |
| Total liabilities | −CN¥1.29bn | CN¥411.6m | CN¥382.0m | CN¥289.4m | CN¥211.5m | CN¥92.7m | CN¥117.3m | CN¥102.0m | CN¥453.3m | CN¥49.2m |
| Debt | CN¥154.3m | CN¥176.4m | CN¥194.3m | CN¥98.4m | CN¥70.8m | CN¥29.9m | — | — | — | — |
| Shareholders' equity | CN¥1.29bn | CN¥1.27bn | CN¥1.24bn | CN¥1.04bn | CN¥1.01bn | CN¥996.0m | CN¥585.3m | CN¥550.8m | CN¥158.5m | CN¥136.6m |
| Shares outstanding | 438m | 467m | 436m | 420m | 408m | 429m | 378m | 156m | 179m | 156m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥51.2m | −CN¥98.7m | −CN¥170.5m | −CN¥87.5m | −CN¥77.8m | −CN¥57.6m | CN¥20.5m | CN¥13.2m | CN¥5.7m | −CN¥32.7m |
| Capital spending | −CN¥29.7m | −CN¥36.7m | −CN¥221.0m | −CN¥59.6m | −CN¥238.7m | −CN¥132.2m | −CN¥20.2m | −CN¥27.4m | −CN¥6.3m | −CN¥2.9m |
| Free cash flow | −CN¥80.9m | −CN¥135.3m | −CN¥391.5m | −CN¥147.1m | −CN¥316.4m | −CN¥189.7m | CN¥359,726 | −CN¥14.2m | −CN¥547,714 | −CN¥35.6m |
| Dividends paid | −CN¥7.2m | −CN¥9.1m | −CN¥4.7m | −CN¥757,801 | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥52.5m | CN¥52.7m | CN¥95.8m | CN¥60.5m | CN¥66.7m | CN¥58.6m | CN¥86.7m | CN¥33.8m |
| Gross profit | CN¥37.0m | CN¥33.7m | CN¥150.7m | CN¥38.6m | CN¥47.8m | CN¥44.0m | CN¥62.5m | CN¥22.1m |
| Operating income | −CN¥49.1m | −CN¥44.8m | −CN¥38.3m | −CN¥55.6m | −CN¥47.2m | −CN¥16.0m | −CN¥30.9m | −CN¥34.9m |
| Net income | −CN¥23.7m | −CN¥46.4m | −CN¥70.0m | −CN¥56.5m | −CN¥44.3m | −CN¥13.2m | −CN¥45.0m | −CN¥29.7m |
| Diluted earnings per share | -0.05 | -0.11 | -0.16 | -0.13 | -0.10 | -0.03 | -0.10 | -0.06 |
| Cash from operations | — | — | — | CN¥24.0m | −CN¥39.0m | −CN¥14.0m | — | −CN¥28.0m |
| Capital spending | −CN¥1.0m | −CN¥3.0m | −CN¥20.0m | — | −CN¥2.0m | −CN¥5.0m | −CN¥8.0m | −CN¥1.0m |
| Free cash flow | — | — | — | — | −CN¥41.0m | −CN¥19.0m | — | −CN¥29.0m |
| Total assets | CN¥1.68bn | CN¥1.64bn | CN¥1.71bn | CN¥1.78bn | CN¥1.78bn | CN¥1.73bn | CN¥1.69bn | CN¥1.50bn |
| Cash and short-term investments | — | — | CN¥347.8m | CN¥347.8m | CN¥301.8m | CN¥277.7m | CN¥260.2m | CN¥171.8m |
| Debt | CN¥143.2m | CN¥150.1m | CN¥154.3m | CN¥57.0m | CN¥195.1m | CN¥188.0m | CN¥176.2m | CN¥190.6m |
| Shareholders' equity | CN¥1.19bn | CN¥1.16bn | CN¥1.29bn | CN¥1.25bn | CN¥1.25bn | CN¥1.31bn | CN¥1.27bn | CN¥1.18bn |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 69.7% | 66.1% | 65.4% | 67.9% | 76.7% |
| Operating margin | -52.1% | -88.2% | -100.7% | -112.0% | -67.0% | -47.2% |
| Net margin | -65.0% | -67.7% | -74.5% | -70.8% | -51.2% | -40.1% |
| Return on equity | -14.2% | -9.6% | -12.6% | -10.6% | -7.9% | -5.5% |
| Return on assets | -10.7% | -7.2% | -9.7% | -7.9% | -6.2% | -4.9% |
| Free cash flow yield | -0.3% | -0.8% | 0.7% | -0.4% | 2.5% | 1.1% |
| Revenue growth | 58.4% | -14.9% | 34.5% | 0.1% | 14.8% | -40.8% |
| Earnings growth | 51.9% | -22.5% | 41.4% | 38.3% | 46.7% | 76.0% |
| Current ratio | 2.71x | 2.80x | 2.93x | 2.36x | 4.48x | 9.86x |
| Debt to equity | 0.12x | 0.14x | 0.15x | 0.06x | 0.02x | 0.01x |
| Equity ratio | 75.4% | 74.9% | 76.4% | 74.2% | 78.7% | 89.0% |
| Interest coverage | -12.14x | -17.07x | -32.92x | -43.83x | -30.76x | -1025.60x |
| R&D as a share of sales | 43.5% | 47.9% | 66.8% | 78.5% | 70.4% | 54.5% |
| Buybacks as a share of market value | 6.3% | -7.2% | -3.8% | -3.0% | 5.0% | -13.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.9% | 15.8% | 28.0% |
| Operating income | -5.5% | 18.1% | 19.7% |
| Net income | 18.5% | 27.6% | 28.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 88.3% | 78.4% | 76.7% | 76.4% |
| Operating margin | -66.1% | -83.5% | -76.8% | -59.6% |
| Net margin | -66.0% | -69.1% | -63.1% | -47.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -36.1 | -38.5 | -36.7 | -45.1 | -133.8 | -300.2 |
| Price to sales | 23.5 | 26.1 | 27.3 | 32.0 | 68.6 | 120.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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