S 
23.01
+1.28%
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¥284.7m
FY2017FY2025
Net income
−CN¥292.4m
FY2017FY2025
Free cash flow
−CN¥299.0m
FY2017FY2025
Shareholders' equity
CN¥1.93bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥284.7m | CN¥235.4m | CN¥236.3m | CN¥233.3m | CN¥617.2m | CN¥654.9m | CN¥674.4m | CN¥551.4m | CN¥33.7m |
| Research and development | CN¥276.0m | CN¥266.1m | CN¥246.4m | CN¥203.4m | CN¥199.9m | CN¥181.7m | CN¥117.7m | CN¥56.7m | CN¥43.6m |
| Operating income | −CN¥292.4m | −CN¥285.6m | −CN¥226.5m | −CN¥211.8m | CN¥188.4m | CN¥188.3m | CN¥244.5m | CN¥238.3m | −CN¥43.2m |
| Net income | −CN¥292.4m | −CN¥268.2m | −CN¥203.3m | −CN¥196.6m | CN¥178.5m | CN¥177.1m | CN¥218.0m | CN¥207.4m | −CN¥36.4m |
| Diluted earnings per share | -1.89 | -1.72 | -1.30 | -1.25 | 1.13 | 1.23 | 1.85 | 1.34 | -0.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.02bn | CN¥2.30bn | CN¥2.57bn | CN¥2.84bn | CN¥3.09bn | CN¥3.12bn | CN¥1.17bn | CN¥637.7m | CN¥201.0m |
| Cash and short-term investments | CN¥288.0m | CN¥1.25bn | CN¥1.34bn | CN¥1.54bn | CN¥1.70bn | CN¥1.87bn | CN¥24.5m | CN¥66.9m | CN¥45.9m |
| Total liabilities | −CN¥1.93bn | CN¥148.7m | CN¥136.4m | CN¥155.3m | CN¥139.5m | CN¥272.5m | CN¥410.9m | CN¥272.0m | CN¥40.5m |
| Debt | — | CN¥8.9m | CN¥14.7m | CN¥30.9m | CN¥19.1m | CN¥65.7m | CN¥139.1m | CN¥62.8m | — |
| Shareholders' equity | CN¥1.93bn | CN¥2.18bn | CN¥2.46bn | CN¥2.69bn | CN¥2.95bn | CN¥2.84bn | CN¥757.0m | CN¥362.0m | CN¥154.6m |
| Shares outstanding | 155m | 156m | 156m | 158m | 158m | 144m | 118m | 155m | 155m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥211.3m | −CN¥70.5m | −CN¥129.1m | −CN¥12.8m | −CN¥90.5m | CN¥55.3m | −CN¥245.7m | −CN¥59.6m | −CN¥34.7m |
| Capital spending | −CN¥87.7m | −CN¥9.4m | −CN¥23.3m | −CN¥52.8m | −CN¥11.4m | −CN¥22.4m | −CN¥14.8m | −CN¥5.4m | −CN¥3.2m |
| Free cash flow | −CN¥299.0m | −CN¥79.9m | −CN¥152.4m | −CN¥65.6m | −CN¥101.9m | CN¥32.9m | −CN¥260.5m | −CN¥65.0m | −CN¥37.9m |
| Dividends paid | — | — | — | −CN¥75.5m | −CN¥60.4m | −CN¥7.4m | −CN¥7.9m | −CN¥1.4m | −CN¥101,205 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥68.9m | CN¥28.4m | CN¥64.1m | CN¥66.1m | CN¥133.7m | CN¥20.8m | CN¥48.2m | CN¥77.3m |
| Operating income | −CN¥82.9m | −CN¥75.6m | −CN¥100.4m | −CN¥81.9m | −CN¥52.6m | −CN¥57.5m | −CN¥71.1m | −CN¥59.0m |
| Net income | −CN¥103.6m | −CN¥72.6m | −CN¥104.4m | −CN¥79.3m | −CN¥50.4m | −CN¥58.4m | −CN¥76.5m | −CN¥51.9m |
| Diluted earnings per share | -0.67 | -0.47 | -0.67 | -0.51 | -0.32 | -0.38 | -0.49 | -0.33 |
| Cash from operations | — | — | — | −CN¥70.0m | −CN¥96.0m | −CN¥52.0m | CN¥43.0m | −CN¥87.0m |
| Capital spending | −CN¥54.0m | −CN¥41.0m | −CN¥8.0m | −CN¥19.0m | −CN¥41.0m | −CN¥18.0m | −CN¥1.0m | — |
| Free cash flow | — | — | — | −CN¥89.0m | −CN¥137.0m | −CN¥70.0m | CN¥42.0m | — |
| Total assets | CN¥1.93bn | CN¥1.96bn | CN¥2.02bn | CN¥2.10bn | CN¥2.23bn | CN¥2.26bn | CN¥2.30bn | CN¥2.38bn |
| Cash and short-term investments | — | — | CN¥288.0m | CN¥288.0m | CN¥435.3m | CN¥1.18bn | CN¥735.2m | CN¥1.21bn |
| Debt | CN¥34.0m | CN¥14.7m | — | CN¥10.7m | CN¥1.7m | CN¥10.9m | CN¥3.2m | CN¥3.3m |
| Shareholders' equity | CN¥1.65bn | CN¥1.76bn | CN¥1.93bn | CN¥1.94bn | CN¥2.07bn | CN¥2.12bn | CN¥2.18bn | CN¥2.25bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -102.7% | -121.3% | -95.9% | -90.8% | 30.5% | 28.7% | — |
| Net margin | -102.7% | -113.9% | -86.0% | -84.3% | 28.9% | 27.0% | — |
| Return on equity | -15.1% | -12.3% | -8.3% | -7.3% | 6.0% | 6.2% | — |
| Return on assets | -14.5% | -11.6% | -7.9% | -6.9% | 5.8% | 5.7% | — |
| Free cash flow yield | -2.9% | -1.4% | -2.4% | 0.9% | -1.8% | 1.9% | — |
| Revenue growth | 20.9% | -0.4% | 1.3% | -62.2% | -5.8% | -2.9% | — |
| Earnings growth | 9.0% | 31.9% | 3.4% | -210.1% | 0.8% | -18.8% | — |
| Current ratio | 11.48x | 15.55x | 20.09x | 19.90x | 25.07x | 11.22x | — |
| Debt to equity | — | 0.00x | 0.00x | 0.01x | 0.00x | 0.02x | 0.18x |
| Equity ratio | 95.7% | 94.4% | 95.4% | 94.6% | 95.6% | 91.3% | — |
| Interest coverage | -165.79x | -164.36x | -85.07x | -83.81x | 65.97x | 19.76x | — |
| R&D as a share of sales | 97.0% | 113.0% | 104.3% | 87.2% | 32.4% | 27.7% | — |
| Buybacks as a share of market value | 0.7% | 0.2% | 0.7% | 0.0% | -9.1% | -22.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.9% | -15.4% | — |
| Operating income | 11.3% | — | — |
| Net income | 14.1% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -35.5 | -8.8 | -14.3 | -13.9 | 41.3 | 37.3 |
| Price to sales | 36.5 | 10.1 | 12.3 | 11.7 | 11.9 | 10.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jun 2022.
| FY2022 | FY2021 | |
|---|---|---|
| Paid in the year | 0.479 | 0.274 |
- 1-to-1 reverse split · 24 Jun 2025
- 7-for-5 split · 9 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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