S 
1.68
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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¥442.4m
FY2021FY2024
Net income
−CN¥407.2m
FY2021FY2024
Free cash flow
−CN¥528.1m
FY2021FY2024
Shareholders' equity
CN¥2.97bn
FY2021FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Revenue | CN¥442.4m | CN¥700.6m | CN¥748.5m | CN¥457.1m |
| Gross profit | CN¥40.0m | CN¥175.8m | CN¥158.8m | CN¥127.5m |
| Research and development | CN¥112.5m | CN¥145.1m | CN¥88.2m | CN¥72.2m |
| Operating income | −CN¥462.9m | −CN¥436.6m | −CN¥259.3m | −CN¥658.8m |
| Net income | −CN¥407.2m | −CN¥404.4m | −CN¥273.4m | −CN¥703.1m |
| Diluted earnings per share | -0.79 | -0.78 | -0.53 | -1.36 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Total assets | CN¥4.66bn | CN¥4.86bn | CN¥3.42bn | CN¥2.39bn |
| Cash and short-term investments | CN¥1.33bn | CN¥1.41bn | CN¥719.0m | CN¥711.8m |
| Total liabilities | CN¥1.69bn | CN¥1.49bn | CN¥1.12bn | CN¥871.1m |
| Debt | CN¥589.5m | CN¥370.5m | CN¥324.6m | CN¥578.4m |
| Shareholders' equity | CN¥2.97bn | CN¥3.37bn | CN¥2.30bn | CN¥1.52bn |
| Shares outstanding | 518m | 518m | 518m | 518m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Cash from operations | −CN¥476.0m | −CN¥247.2m | −CN¥261.3m | −CN¥560.7m |
| Capital spending | −CN¥52.1m | −CN¥158.8m | −CN¥363.4m | −CN¥216.5m |
| Free cash flow | −CN¥528.1m | −CN¥405.9m | −CN¥624.7m | −CN¥777.2m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|
| Revenue | CN¥58.9m | CN¥309.4m | CN¥133.0m | CN¥488.3m | CN¥212.3m |
| Gross profit | CN¥3.1m | CN¥39.3m | CN¥770,000 | CN¥138.8m | CN¥36.9m |
| Operating income | −CN¥160.5m | −CN¥190.6m | −CN¥208.0m | −CN¥303.5m | −CN¥95.4m |
| Net income | −CN¥184.2m | −CN¥194.9m | −CN¥212.3m | −CN¥280.1m | −CN¥124.3m |
| Diluted earnings per share | -0.36 | -0.38 | -0.41 | -0.54 | -0.24 |
| Total assets | CN¥4.34bn | CN¥4.66bn | CN¥4.92bn | — | — |
| Cash and short-term investments | CN¥1.22bn | CN¥1.33bn | CN¥1.26bn | — | — |
| Debt | CN¥392.2m | CN¥481.9m | CN¥674.3m | — | — |
| Shareholders' equity | CN¥2.78bn | CN¥2.97bn | CN¥3.20bn | — | — |
Financial ratios
Data as of 1 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | -23.9% | 9.0% | 25.1% | 21.2% | 27.9% | 3.5% |
| Operating margin | -167.1% | -90.6% | -60.8% | -37.2% | -146.5% | -87.7% |
| Net margin | -161.3% | -92.0% | -57.7% | -36.5% | -153.8% | -94.7% |
| Return on equity | -19.2% | -13.7% | -12.0% | -11.9% | -46.4% | -33.6% |
| Return on assets | -11.5% | -8.7% | -8.3% | -8.0% | -29.4% | -15.7% |
| Free cash flow yield | 4.5% | -49.8% | -25.9% | -32.6% | -72.9% | -13.1% |
| Revenue growth | -34.0% | -36.9% | -6.4% | 63.7% | 101.5% | -37.9% |
| Earnings growth | 15.7% | 0.7% | 47.9% | -61.1% | 227.3% | -1112.2% |
| Current ratio | 2.14x | 2.52x | 2.70x | 2.41x | 3.72x | 2.19x |
| Debt to equity | 0.20x | 0.19x | 0.10x | 0.13x | 0.36x | 0.52x |
| Equity ratio | 59.7% | 63.7% | 69.4% | 67.4% | 63.5% | 46.7% |
| Interest coverage | -23.26x | -17.97x | -42.10x | -16.26x | -26.76x | -7.91x |
| R&D as a share of sales | 44.3% | 29.5% | 21.6% | 12.3% | 15.8% | 15.8% |
| Buybacks as a share of market value | 1.4% | -0.0% | -19.1% | -4.4% | -16.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.1% | — | — |
| Operating income | -11.1% | — | — |
| Net income | -16.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.9% | 21.4% | — | — |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | |
|---|---|---|
| Price to earnings | -16.3 | -13.8 |
| Price to sales | 15.0 | 8.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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