B 
125.41
-0.47%
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¥11.30bn
FY2020FY2025
Net income
CN¥853.0m
FY2020FY2025
Free cash flow
−CN¥3.49bn
FY2020FY2025
Shareholders' equity
CN¥5.44bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥11.30bn | CN¥6.70bn | CN¥3.59bn | CN¥2.99bn | CN¥2.61bn | CN¥1.64bn |
| Gross profit | CN¥2.42bn | CN¥1.22bn | CN¥61.6m | CN¥410.1m | CN¥457.8m | CN¥187.9m |
| Research and development | CN¥632.4m | CN¥447.4m | CN¥250.0m | CN¥126.4m | CN¥106.9m | CN¥50.4m |
| Operating income | CN¥1.09bn | CN¥261.6m | −CN¥631.7m | CN¥96.6m | CN¥190.4m | CN¥46.2m |
| Net income | CN¥853.0m | CN¥161.2m | −CN¥624.4m | CN¥71.2m | CN¥116.6m | CN¥27.4m |
| Diluted earnings per share | 1.83 | 0.37 | -1.34 | 0.15 | 0.25 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥15.52bn | CN¥7.96bn | CN¥6.33bn | CN¥4.41bn | CN¥2.81bn | CN¥1.77bn |
| Cash and short-term investments | — | — | — | — | — | CN¥195.3m |
| Total liabilities | CN¥10.01bn | CN¥5.53bn | CN¥4.41bn | CN¥1.99bn | CN¥990.2m | CN¥668.8m |
| Debt | — | CN¥4.53bn | CN¥3.59bn | CN¥1.60bn | CN¥541.8m | CN¥274.2m |
| Shareholders' equity | CN¥5.44bn | CN¥2.41bn | CN¥1.93bn | CN¥2.42bn | CN¥1.82bn | CN¥1.10bn |
| Shares outstanding | 465m | 431m | 465m | 465m | 465m | 430m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −CN¥1.97bn | CN¥531.8m | −CN¥1.97bn | −CN¥692.6m | −CN¥488.2m | −CN¥272.1m |
| Capital spending | −CN¥1.52bn | −CN¥968.4m | −CN¥416.3m | −CN¥266.8m | −CN¥303.5m | −CN¥158.6m |
| Free cash flow | −CN¥3.49bn | −CN¥436.6m | −CN¥2.38bn | −CN¥959.4m | −CN¥791.7m | −CN¥430.7m |
| Dividends paid | −CN¥184.5m | −CN¥145.6m | −CN¥112.2m | −CN¥31.3m | −CN¥13.9m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.76bn | CN¥6.81bn | CN¥4.73bn | CN¥2.66bn | CN¥2.37bn | CN¥1.54bn | CN¥1.67bn | CN¥1.58bn |
| Gross profit | CN¥4.90bn | CN¥3.63bn | CN¥1.51bn | CN¥555.6m | CN¥324.2m | CN¥30.7m | CN¥86.4m | CN¥252.1m |
| Operating income | CN¥4.59bn | CN¥3.31bn | CN¥1.03bn | CN¥271.5m | CN¥13.1m | −CN¥227.4m | −CN¥141.8m | −CN¥14.6m |
| Net income | CN¥4.27bn | CN¥2.90bn | CN¥822.6m | CN¥256.2m | −CN¥28.3m | −CN¥197.5m | −CN¥66.9m | −CN¥55.2m |
| Diluted earnings per share | 9.17 | 6.23 | 1.77 | 0.61 | -0.06 | -0.42 | -0.16 | -0.13 |
| Capital spending | −CN¥301.0m | −CN¥177.0m | −CN¥353.0m | — | −CN¥687.0m | −CN¥265.0m | −CN¥239.0m | −CN¥484.0m |
| Total assets | CN¥33.35bn | CN¥24.48bn | CN¥15.52bn | CN¥13.19bn | CN¥11.56bn | CN¥9.38bn | CN¥7.96bn | CN¥7.41bn |
| Cash and short-term investments | — | — | — | CN¥1.97bn | — | — | — | — |
| Debt | CN¥8.65bn | CN¥5.34bn | CN¥2.67bn | CN¥6.47bn | CN¥1.94bn | CN¥1.75bn | CN¥928.3m | CN¥815.6m |
| Shareholders' equity | CN¥12.70bn | CN¥8.51bn | CN¥5.44bn | CN¥4.68bn | CN¥4.20bn | CN¥2.29bn | CN¥2.41bn | CN¥2.45bn |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 21.4% | 18.2% | 1.7% | 13.7% | 17.5% |
| Operating margin | 9.6% | 3.9% | -17.6% | 3.2% | 7.3% |
| Net margin | 7.5% | 2.4% | -17.4% | 2.4% | 4.5% |
| Return on equity | 15.7% | 6.7% | -32.4% | 2.9% | 6.4% |
| Return on assets | 5.5% | 2.0% | -9.9% | 1.6% | 4.1% |
| Free cash flow yield | -0.4% | 1.6% | — | — | — |
| Revenue growth | 68.8% | 86.5% | 20.3% | 14.4% | — |
| Earnings growth | 429.1% | -125.8% | -976.7% | -38.9% | — |
| Current ratio | 1.64x | 1.24x | 1.25x | 2.20x | 2.55x |
| Debt to equity | 0.49x | 0.38x | 0.26x | 0.16x | 0.07x |
| Equity ratio | 35.1% | 30.3% | 30.5% | 54.9% | 64.8% |
| Interest coverage | 6.55x | 1.79x | -5.57x | 3.23x | 14.91x |
| R&D as a share of sales | 5.6% | 6.7% | 7.0% | 4.2% | 4.1% |
| Buybacks as a share of market value | -7.9% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 55.9% | 47.1% | — |
| Operating income | 124.3% | 88.2% | — |
| Net income | 128.8% | 98.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.2% | 16.7% | 16.5% | — |
| Operating margin | 7.5% | 3.3% | 3.7% | — |
| Net margin | 5.6% | 1.9% | 2.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 62.6 | 165.8 | -46.7 | 104.9 |
| Price to sales | 4.7 | 4.0 | 8.1 | 2.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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