B 
16.50
+1.98%
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¥262.1m
FY2016FY2025
Net income
−CN¥628.3m
FY2016FY2025
Free cash flow
−CN¥54.4m
FY2016FY2025
Shareholders' equity
CN¥1.98bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥262.1m | CN¥366.7m | CN¥800.7m | CN¥738.1m | CN¥629.4m | CN¥572.3m | CN¥553.6m | CN¥368.5m | CN¥201.2m | CN¥137.7m |
| Research and development | CN¥47.8m | CN¥97.0m | CN¥140.9m | CN¥101.3m | CN¥92.8m | CN¥74.7m | CN¥83.9m | CN¥45.1m | CN¥25.0m | CN¥7.7m |
| Operating income | −CN¥654.0m | −CN¥532.6m | −CN¥326.2m | −CN¥103.7m | −CN¥12.5m | CN¥78.4m | CN¥58.7m | CN¥15.8m | CN¥33.6m | CN¥152,153 |
| Net income | −CN¥628.3m | −CN¥456.4m | −CN¥243.2m | −CN¥194.7m | −CN¥200.9m | −CN¥32.6m | CN¥45.9m | CN¥23.1m | CN¥28.6m | −CN¥181,488 |
| Diluted earnings per share | -2.71 | -1.97 | -1.48 | -1.39 | -2.02 | -0.33 | 0.54 | 0.26 | 0.31 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.68bn | CN¥4.78bn | CN¥4.95bn | CN¥3.78bn | CN¥3.62bn | CN¥3.05bn | CN¥1.68bn | CN¥1.21bn | CN¥886.9m | CN¥376.5m |
| Cash and short-term investments | — | CN¥1.45bn | CN¥1.30bn | CN¥675.1m | CN¥1.08bn | CN¥1.11bn | CN¥201.5m | CN¥132.6m | CN¥255.0m | CN¥71.0m |
| Total liabilities | CN¥1.51bn | CN¥1.94bn | CN¥1.54bn | CN¥1.03bn | CN¥731.4m | CN¥625.8m | CN¥537.2m | CN¥461.9m | CN¥205.5m | CN¥56.9m |
| Debt | — | CN¥784.6m | CN¥607.9m | CN¥272.7m | CN¥128.4m | CN¥170.4m | CN¥112.8m | CN¥95.8m | CN¥51.4m | CN¥17.8m |
| Shareholders' equity | CN¥1.98bn | CN¥2.56bn | CN¥3.04bn | CN¥2.34bn | CN¥2.50bn | CN¥2.27bn | CN¥1.05bn | CN¥688.9m | CN¥644.6m | CN¥288.8m |
| Shares outstanding | 232m | 232m | 164m | 140m | 100m | 99m | 85m | 90m | 91m | 35m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥4.3m | −CN¥18.6m | −CN¥560.6m | −CN¥332.1m | −CN¥121.3m | −CN¥229.5m | −CN¥170.0m | −CN¥78.5m | −CN¥168.9m | −CN¥80.6m |
| Capital spending | −CN¥50.1m | −CN¥34.5m | −CN¥74.5m | −CN¥164.1m | −CN¥227.4m | −CN¥130.3m | −CN¥142.0m | −CN¥109.9m | −CN¥37.4m | −CN¥24.8m |
| Free cash flow | −CN¥54.4m | −CN¥53.2m | −CN¥635.1m | −CN¥496.2m | −CN¥348.7m | −CN¥359.8m | −CN¥312.0m | −CN¥188.5m | −CN¥206.4m | −CN¥105.5m |
| Dividends paid | −CN¥15.1m | −CN¥20.3m | −CN¥11.7m | −CN¥6.4m | −CN¥4.9m | −CN¥8.3m | −CN¥4.1m | −CN¥2.5m | −CN¥1.3m | −CN¥191,435 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥57.3m | CN¥16.7m | CN¥158.6m | CN¥31.6m | CN¥61.4m | CN¥10.5m | CN¥50.1m | CN¥162.8m |
| Operating income | −CN¥30.3m | −CN¥53.4m | −CN¥291.6m | −CN¥99.4m | −CN¥86.2m | −CN¥114.1m | −CN¥176.4m | −CN¥144.6m |
| Net income | −CN¥53.2m | −CN¥51.0m | −CN¥266.7m | −CN¥148.0m | −CN¥70.4m | −CN¥93.0m | −CN¥134.7m | −CN¥116.7m |
| Diluted earnings per share | -0.23 | -0.22 | -1.15 | -0.64 | -0.30 | -0.40 | -0.58 | -0.50 |
| Cash from operations | — | — | — | CN¥39.0m | CN¥53.0m | −CN¥73.0m | — | −CN¥38.0m |
| Capital spending | −CN¥2.0m | −CN¥3.0m | −CN¥6.0m | −CN¥30.0m | −CN¥9.0m | −CN¥3.0m | −CN¥14.0m | −CN¥4.0m |
| Free cash flow | — | — | — | CN¥9.0m | CN¥44.0m | −CN¥76.0m | — | −CN¥42.0m |
| Total assets | CN¥3.47bn | CN¥3.51bn | CN¥3.68bn | CN¥4.11bn | CN¥4.25bn | CN¥4.51bn | CN¥4.78bn | CN¥4.98bn |
| Cash and short-term investments | — | — | — | CN¥1.19bn | CN¥1.14bn | CN¥1.25bn | CN¥1.45bn | CN¥1.29bn |
| Debt | — | — | — | CN¥541.5m | CN¥466.2m | CN¥657.5m | CN¥772.2m | CN¥827.5m |
| Shareholders' equity | CN¥1.88bn | CN¥1.93bn | CN¥1.98bn | CN¥2.27bn | CN¥2.40bn | CN¥2.47bn | CN¥2.56bn | CN¥2.79bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -249.5% | -156.8% | -38.0% | -31.9% | -36.2% | -3.6% | — |
| Net margin | -239.7% | -124.5% | -30.4% | -26.4% | -31.9% | -5.7% | — |
| Return on equity | -31.8% | -17.8% | -8.0% | -8.3% | -8.0% | -1.4% | — |
| Return on assets | -17.1% | -9.6% | -4.9% | -5.2% | -5.5% | -1.1% | — |
| Free cash flow yield | 1.0% | 0.3% | -15.0% | -6.1% | 5.4% | -5.1% | — |
| Revenue growth | -28.5% | -54.2% | 8.5% | 17.3% | 10.0% | 3.4% | — |
| Earnings growth | 37.7% | 87.7% | 24.9% | -3.1% | 516.9% | -171.0% | — |
| Current ratio | 1.94x | 1.87x | 2.53x | 2.73x | 4.12x | 4.78x | — |
| Debt to equity | — | 0.30x | 0.19x | 0.11x | 0.04x | 0.09x | 0.11x |
| Equity ratio | 53.8% | 53.6% | 61.6% | 62.0% | 69.1% | 74.6% | — |
| Interest coverage | -46.10x | -23.69x | -17.91x | -29.06x | -29.91x | -1.96x | — |
| R&D as a share of sales | 18.3% | 26.5% | 17.6% | 13.7% | 14.7% | 13.0% | — |
| Buybacks as a share of market value | 0.0% | -41.1% | -17.6% | -40.4% | -0.5% | -16.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -29.2% | -14.5% | 17.1% |
| Operating income | 84.7% | — | — |
| Net income | 47.8% | 80.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -188.7% | -74.6% | -46.0% | -30.7% |
| Net margin | -172.5% | -70.2% | -52.1% | -34.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -10.0 | -12.3 | -22.1 | -27.1 | -48.9 | -302.0 |
| Price to sales | 23.9 | 15.3 | 6.7 | 7.2 | 15.6 | 17.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 7-for-5 split · 22 Jul 2024
- 7-for-5 split · 5 Jul 2023
- 7-for-5 split · 2 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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