S 
3.00
-0.99%
Close of 9 Nov 2026, in HKD
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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¥784.8m
FY2020FY2025
Net income
CN¥7.1m
FY2020FY2025
Free cash flow
−CN¥209.2m
FY2020FY2025
Shareholders' equity
CN¥2.74bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥784.8m | CN¥617.2m | CN¥525.2m | CN¥438.4m | CN¥134.9m | — |
| Gross profit | CN¥562.4m | CN¥461.1m | CN¥347.5m | CN¥301.0m | CN¥90.5m | — |
| Research and development | CN¥147.6m | CN¥126.8m | CN¥196.0m | CN¥340.2m | CN¥196.8m | CN¥200.8m |
| Operating income | CN¥45.8m | CN¥89.9m | −CN¥89.5m | −CN¥270.5m | −CN¥181.7m | −CN¥194.3m |
| Net income | CN¥7.1m | CN¥62.2m | −CN¥101.4m | −CN¥281.9m | −CN¥191.5m | −CN¥204.4m |
| Diluted earnings per share | 0.01 | 0.12 | -0.20 | -0.55 | -0.31 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥4.13bn | CN¥2.85bn | CN¥2.32bn | CN¥2.20bn | CN¥1.79bn | CN¥771.6m |
| Cash and short-term investments | CN¥1.13bn | CN¥198.9m | CN¥201.8m | CN¥233.5m | CN¥521.3m | CN¥3.1m |
| Total liabilities | CN¥1.39bn | CN¥1.21bn | CN¥1.00bn | CN¥784.2m | CN¥471.5m | CN¥362.4m |
| Debt | CN¥313.6m | CN¥575.7m | CN¥320.4m | CN¥217.2m | CN¥245.9m | CN¥7.2m |
| Shareholders' equity | CN¥2.74bn | CN¥1.64bn | CN¥1.32bn | CN¥1.42bn | CN¥1.32bn | CN¥409.2m |
| Shares outstanding | 622m | 509m | 509m | 509m | 622m | 622m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | CN¥64.9m | −CN¥100.2m | −CN¥15.8m | −CN¥171.5m | −CN¥209.3m | −CN¥430.6m |
| Capital spending | −CN¥274.0m | −CN¥308.4m | −CN¥250.5m | −CN¥175.4m | −CN¥290.0m | −CN¥111.5m |
| Free cash flow | −CN¥209.2m | −CN¥408.6m | −CN¥266.2m | −CN¥346.9m | −CN¥499.2m | −CN¥542.1m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥391.4m | CN¥393.4m | CN¥308.8m | CN¥308.4m | CN¥303.3m | CN¥222.0m | CN¥250.9m | CN¥187.5m |
| Gross profit | CN¥279.9m | CN¥282.6m | CN¥220.9m | CN¥240.2m | CN¥213.1m | CN¥134.4m | CN¥175.9m | CN¥125.1m |
| Operating income | CN¥5.8m | CN¥40.0m | CN¥26.8m | CN¥63.1m | CN¥6.6m | −CN¥96.0m | −CN¥145.9m | −CN¥124.6m |
| Net income | −CN¥13.4m | CN¥20.5m | CN¥9.8m | CN¥52.4m | CN¥115,560 | −CN¥101.6m | −CN¥151.6m | −CN¥130.3m |
| Diluted earnings per share | -0.02 | 0.03 | 0.02 | 0.10 | 0.00 | -0.20 | -0.30 | -0.26 |
| Cash from operations | — | CN¥144.0m | −CN¥100.0m | −CN¥42.0m | −CN¥15.0m | −CN¥23.0m | −CN¥171.0m | −CN¥97.0m |
| Capital spending | — | −CN¥148.0m | −CN¥308.0m | −CN¥211.0m | −CN¥250.0m | −CN¥121.0m | −CN¥175.0m | −CN¥86.0m |
| Free cash flow | — | −CN¥4.0m | −CN¥408.0m | −CN¥253.0m | −CN¥265.0m | −CN¥144.0m | −CN¥346.0m | −CN¥183.0m |
| Total assets | CN¥4.13bn | CN¥3.43bn | CN¥2.42bn | CN¥2.17bn | CN¥1.97bn | CN¥1.82bn | CN¥1.87bn | CN¥1.72bn |
| Cash and short-term investments | CN¥1.13bn | CN¥660.0m | CN¥169.0m | CN¥146.3m | CN¥171.5m | CN¥212.4m | CN¥198.4m | CN¥350.3m |
| Debt | CN¥313.6m | CN¥381.5m | CN¥365.1m | CN¥409.9m | CN¥199.3m | CN¥171.0m | CN¥184.5m | CN¥194.2m |
| Shareholders' equity | CN¥2.74bn | CN¥2.03bn | CN¥1.40bn | CN¥1.18bn | CN¥1.12bn | CN¥1.11bn | CN¥1.21bn | CN¥1.20bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 71.7% | 74.7% | 66.2% | 68.7% | 67.1% | — |
| Operating margin | 5.8% | 14.6% | -17.0% | -61.7% | -134.7% | — |
| Net margin | 0.9% | 10.1% | -19.3% | -64.3% | -142.0% | — |
| Return on equity | 0.3% | 4.5% | -9.0% | -23.4% | -14.5% | -49.9% |
| Return on assets | 0.2% | 2.6% | -5.1% | -15.1% | -10.7% | -26.5% |
| Free cash flow yield | 18.0% | 15.9% | 17.9% | 0.3% | — | — |
| Revenue growth | 8.1% | 17.5% | 19.8% | 225.1% | — | — |
| Earnings growth | -90.2% | -161.3% | -64.0% | 47.2% | -6.3% | — |
| Current ratio | 2.33x | 1.47x | 1.09x | 1.80x | 3.61x | 0.23x |
| Debt to equity | 0.11x | 0.35x | 0.24x | 0.15x | 0.18x | 0.00x |
| Equity ratio | 66.4% | 57.7% | 56.8% | 64.4% | 73.7% | 53.0% |
| Interest coverage | 1.18x | 261.33x | -90.85x | -40.05x | -23.49x | -191.40x |
| R&D as a share of sales | 18.8% | 20.6% | 37.3% | 77.6% | 145.9% | — |
| Buybacks as a share of market value | -22.2% | 0.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 73.0% | 70.7% | — | — |
| Operating margin | 9.7% | -9.5% | — | — |
| Net margin | 4.9% | -13.3% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | — | 66.0 | -67.4 | -31.0 |
| Price to sales | 5.8 | 6.7 | 13.0 | 19.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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