J 
12.63
-1.71%
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¥113.2m
FY2017FY2025
Net income
−CN¥173.5m
FY2017FY2025
Free cash flow
−CN¥201.4m
FY2017FY2025
Shareholders' equity
CN¥1.10bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥113.2m | CN¥80.8m | CN¥134.6m | CN¥318.5m | CN¥392.3m | CN¥589.1m | CN¥67.2m | — | — |
| Research and development | CN¥91.8m | CN¥33.6m | CN¥15.5m | CN¥32.4m | CN¥35.3m | CN¥28.5m | CN¥23.8m | CN¥12.1m | CN¥18.3m |
| Operating income | −CN¥192.2m | −CN¥115.2m | −CN¥86.5m | CN¥48.9m | CN¥91.1m | CN¥211.7m | −CN¥28.2m | −CN¥41.4m | −CN¥47.3m |
| Net income | −CN¥173.5m | −CN¥93.5m | −CN¥71.0m | CN¥41.5m | CN¥82.5m | CN¥155.0m | −CN¥19.0m | −CN¥28.0m | −CN¥32.7m |
| Diluted earnings per share | -1.43 | -0.78 | -0.59 | 0.35 | 0.68 | 1.71 | -0.16 | -0.23 | -0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.42bn | CN¥1.53bn | CN¥1.63bn | CN¥1.83bn | CN¥1.75bn | CN¥778.0m | CN¥397.3m | CN¥311.4m | CN¥298.1m |
| Cash and short-term investments | — | CN¥278.8m | CN¥245.9m | CN¥565.3m | CN¥694.0m | CN¥128.0m | CN¥16.7m | CN¥3.7m | CN¥229,898 |
| Total liabilities | CN¥319.5m | CN¥255.3m | CN¥260.5m | CN¥367.1m | CN¥293.1m | CN¥535.5m | CN¥505.7m | CN¥400.7m | CN¥359.4m |
| Debt | CN¥28.0m | CN¥47.6m | CN¥64.1m | CN¥42.0m | CN¥10.0m | CN¥296.7m | CN¥56.9m | CN¥30.0m | CN¥30.0m |
| Shareholders' equity | CN¥1.10bn | CN¥1.28bn | CN¥1.37bn | CN¥1.46bn | CN¥1.46bn | CN¥242.5m | −CN¥108.4m | −CN¥89.3m | −CN¥61.3m |
| Shares outstanding | 122m | 119m | 120m | 118m | 122m | 91m | 122m | 122m | 122m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥166.5m | −CN¥131.4m | CN¥80.9m | CN¥38.6m | CN¥103.9m | CN¥109.5m | −CN¥54.0m | −CN¥35.5m | −CN¥33.2m |
| Capital spending | −CN¥35.0m | −CN¥38.5m | −CN¥54.0m | −CN¥168.2m | −CN¥386.4m | −CN¥40.8m | −CN¥21.1m | −CN¥6.2m | −CN¥33.9m |
| Free cash flow | −CN¥201.4m | −CN¥169.9m | CN¥26.9m | −CN¥129.6m | −CN¥282.5m | CN¥68.6m | −CN¥75.2m | −CN¥41.7m | −CN¥67.1m |
| Dividends paid | −CN¥1.3m | −CN¥1.6m | −CN¥17.6m | −CN¥44.0m | −CN¥9.9m | −CN¥8.4m | −CN¥3.2m | −CN¥4.6m | −CN¥2.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥12,122 | CN¥898,797 | CN¥38.6m | CN¥71.1m | CN¥60,422 | CN¥3.5m | CN¥41.9m | CN¥35.6m |
| Operating income | −CN¥32.7m | −CN¥22.4m | −CN¥83.8m | −CN¥58.2m | −CN¥28.7m | −CN¥22.6m | −CN¥51.8m | −CN¥14.8m |
| Net income | −CN¥28.7m | −CN¥22.4m | −CN¥87.0m | −CN¥46.8m | −CN¥22.1m | −CN¥17.6m | −CN¥40.0m | −CN¥12.6m |
| Diluted earnings per share | -0.24 | -0.18 | -0.72 | -0.39 | -0.18 | -0.14 | -0.34 | -0.11 |
| Cash from operations | — | — | — | −CN¥44.0m | −CN¥43.0m | −CN¥42.0m | — | −CN¥36.0m |
| Capital spending | — | −CN¥29.0m | — | −CN¥13.0m | −CN¥10.0m | −CN¥11.0m | −CN¥15.0m | −CN¥4.0m |
| Free cash flow | — | — | — | −CN¥57.0m | −CN¥53.0m | −CN¥53.0m | — | −CN¥40.0m |
| Total assets | CN¥1.32bn | CN¥1.36bn | CN¥1.42bn | CN¥1.45bn | CN¥1.48bn | CN¥1.51bn | CN¥1.53bn | CN¥1.56bn |
| Cash and short-term investments | — | — | — | CN¥160.6m | CN¥219.3m | CN¥232.3m | CN¥278.8m | CN¥294.5m |
| Debt | CN¥46.0m | CN¥28.0m | CN¥28.0m | CN¥58.0m | CN¥57.6m | CN¥48.6m | CN¥47.6m | CN¥59.6m |
| Shareholders' equity | CN¥1.05bn | CN¥1.08bn | CN¥1.10bn | CN¥1.19bn | CN¥1.24bn | CN¥1.26bn | CN¥1.28bn | CN¥1.32bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -169.6% | -141.3% | -62.9% | 15.6% | 23.9% | 37.4% |
| Net margin | -153.2% | -115.7% | -52.7% | 13.0% | 21.0% | 26.3% |
| Return on equity | -15.8% | -7.3% | -5.2% | 2.8% | 5.6% | 63.9% |
| Return on assets | -12.2% | -6.1% | -4.4% | 2.3% | 4.7% | 19.9% |
| Free cash flow yield | -8.5% | -6.2% | 8.8% | 13.8% | 31.8% | 13.1% |
| Revenue growth | 40.1% | -40.0% | -57.7% | -18.8% | -33.4% | 777.3% |
| Earnings growth | 85.5% | 31.7% | -270.9% | -49.6% | -46.8% | -914.1% |
| Current ratio | 1.47x | 2.76x | 3.18x | 3.14x | 4.83x | 1.03x |
| Debt to equity | 0.03x | 0.04x | 0.05x | 0.03x | 0.01x | 1.22x |
| Equity ratio | 77.5% | 83.3% | 84.0% | 79.9% | 83.3% | 31.2% |
| Interest coverage | -150.52x | -70.74x | -43.57x | 38.02x | 9.52x | 22.88x |
| R&D as a share of sales | 81.1% | 41.6% | 11.5% | 10.2% | 9.0% | 4.8% |
| Buybacks as a share of market value | -2.0% | 1.0% | -2.0% | 3.0% | -34.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -29.2% | -28.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -14.2 | -15.4 | -48.3 | 87.2 | 79.8 |
| Price to sales | 21.7 | 17.9 | 25.4 | 11.4 | 16.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 May 2023.
| FY2023 | FY2022 | |
|---|---|---|
| Paid in the year | 0.20 | 0.357 |
- 7-for-5 split · 26 May 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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