S 
256.77
-1.95%
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¥2.05bn
FY2020FY2025
Net income
CN¥58.7m
FY2020FY2025
Free cash flow
−CN¥1.44bn
FY2020FY2025
Shareholders' equity
CN¥5.12bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥2.05bn | CN¥1.38bn | CN¥890.9m | CN¥509.2m | CN¥360.6m | CN¥237.6m |
| Research and development | CN¥656.1m | CN¥498.0m | CN¥228.2m | CN¥205.8m | CN¥95.0m | CN¥44.6m |
| Operating income | CN¥60.4m | CN¥27.7m | CN¥137.4m | CN¥27.2m | CN¥57.7m | CN¥35.8m |
| Net income | CN¥58.7m | −CN¥11.5m | CN¥140.3m | CN¥12.0m | CN¥53.4m | CN¥39.6m |
| Diluted earnings per share | 0.18 | -0.04 | 0.44 | 0.04 | 0.17 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥7.94bn | CN¥4.21bn | CN¥3.43bn | CN¥1.66bn | CN¥1.08bn | CN¥652.5m |
| Cash and short-term investments | — | — | — | — | — | CN¥296.8m |
| Total liabilities | CN¥2.82bn | CN¥1.77bn | CN¥1.02bn | CN¥1.09bn | CN¥528.0m | CN¥155.4m |
| Debt | — | CN¥355.3m | CN¥177.0m | CN¥278.8m | CN¥160.6m | — |
| Shareholders' equity | CN¥5.12bn | CN¥2.44bn | CN¥2.41bn | CN¥569.5m | CN¥554.8m | CN¥497.1m |
| Shares outstanding | 322m | 320m | 322m | 322m | 322m | 320m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −CN¥862.2m | −CN¥312.7m | −CN¥52.0m | CN¥67.0m | −CN¥99.9m | −CN¥86.7m |
| Capital spending | −CN¥576.6m | −CN¥265.5m | −CN¥148.1m | −CN¥117.0m | −CN¥61.1m | −CN¥16.0m |
| Free cash flow | −CN¥1.44bn | −CN¥578.2m | −CN¥200.1m | −CN¥50.0m | −CN¥161.0m | −CN¥102.7m |
| Dividends paid | −CN¥13.2m | −CN¥47.7m | −CN¥3.5m | −CN¥5.9m | −CN¥612,237 | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥545.0m | CN¥396.0m | CN¥851.6m | CN¥499.6m | CN¥408.0m | CN¥294.2m | CN¥567.9m | CN¥348.6m |
| Operating income | −CN¥39.4m | −CN¥60.3m | CN¥109.0m | CN¥3.1m | CN¥25.7m | CN¥1.6m | CN¥61.7m | CN¥26.1m |
| Net income | −CN¥59.5m | −CN¥68.0m | CN¥73.4m | CN¥3.7m | −CN¥3.4m | −CN¥15.0m | CN¥40.4m | CN¥16.1m |
| Diluted earnings per share | -0.18 | -0.21 | 0.23 | 0.01 | -0.01 | -0.05 | 0.13 | 0.05 |
| Capital spending | −CN¥183.0m | −CN¥152.0m | −CN¥133.0m | — | −CN¥130.0m | −CN¥186.0m | −CN¥125.0m | −CN¥71.0m |
| Total assets | CN¥8.32bn | CN¥8.03bn | CN¥7.94bn | CN¥5.20bn | CN¥4.94bn | CN¥4.51bn | CN¥4.21bn | CN¥3.94bn |
| Cash and short-term investments | — | — | — | CN¥416.0m | — | — | — | — |
| Debt | CN¥273.5m | CN¥246.4m | CN¥428.3m | CN¥942.0m | CN¥507.1m | CN¥249.1m | CN¥130.9m | CN¥52.6m |
| Shareholders' equity | CN¥5.08bn | CN¥5.07bn | CN¥5.12bn | CN¥2.55bn | CN¥2.52bn | CN¥2.46bn | CN¥2.44bn | CN¥2.37bn |
Financial ratios
Data as of 15 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating margin | 2.9% | 2.0% | 15.4% | 5.4% | 16.0% |
| Net margin | 2.9% | -0.8% | 15.8% | 2.4% | 14.8% |
| Return on equity | 1.1% | -0.5% | 5.8% | 2.1% | 9.6% |
| Return on assets | 0.7% | -0.3% | 4.1% | 0.7% | 4.9% |
| Free cash flow yield | -0.3% | -0.0% | — | — | — |
| Revenue growth | 48.7% | 54.9% | 74.9% | 41.2% | — |
| Earnings growth | -608.9% | -108.2% | 1072.4% | -77.6% | — |
| Current ratio | 3.06x | 2.17x | 3.21x | 1.45x | 2.02x |
| Debt to equity | 0.08x | 0.05x | 0.02x | — | — |
| Equity ratio | 64.5% | 57.9% | 70.3% | 34.3% | 51.2% |
| Interest coverage | 3.39x | 4.87x | 25.43x | 3.45x | 22.97x |
| R&D as a share of sales | 32.0% | 36.1% | 25.6% | 40.4% | 26.4% |
| Buybacks as a share of market value | -0.5% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 59.2% | 53.9% | — |
| Operating income | 30.4% | 11.0% | — |
| Net income | 69.8% | 8.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 2.6% | 5.2% | 6.4% | — |
| Net margin | 1.4% | 4.1% | 5.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | — | -2430.9 | 170.6 |
| Price to sales | 24.0 | 20.3 | 26.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jul 2024.
| FY2024 | |
|---|---|
| Paid in the year | 0.14 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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