B 
3.03
-0.66%
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¥1.10bn
FY2020FY2026
Net income
−CN¥23.4m
FY2020FY2026
Free cash flow
CN¥121.4m
FY2020FY2026
Shareholders' equity
CN¥1.11bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.10bn | CN¥802.5m | CN¥725.8m | CN¥637.6m | CN¥577.1m | CN¥472.4m | CN¥389.3m |
| Gross profit | CN¥747.4m | CN¥520.9m | CN¥437.2m | CN¥352.9m | CN¥340.1m | CN¥313.8m | CN¥232.9m |
| Research and development | CN¥260.6m | CN¥244.2m | CN¥297.9m | CN¥257.6m | CN¥219.4m | — | — |
| Operating income | −CN¥43.1m | −CN¥124.4m | −CN¥330.9m | −CN¥312.6m | −CN¥245.0m | −CN¥119.8m | −CN¥271.8m |
| Net income | −CN¥23.4m | −CN¥125.2m | −CN¥2.72bn | −CN¥2.21bn | −CN¥1.62bn | −CN¥798.3m | −CN¥1.08bn |
| Diluted earnings per share | -0.03 | -0.17 | -3.89 | -3.09 | -2.27 | -1.09 | -1.47 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.13bn | CN¥1.98bn | CN¥1.91bn | CN¥1.87bn | CN¥2.03bn | CN¥503.4m | CN¥507.4m |
| Cash and short-term investments | — | CN¥1.47bn | CN¥1.71bn | CN¥1.61bn | CN¥1.78bn | CN¥378.3m | CN¥390.8m |
| Total liabilities | CN¥1.02bn | CN¥932.3m | CN¥751.5m | CN¥10.23bn | CN¥7.32bn | CN¥3.51bn | CN¥2.92bn |
| Debt | — | CN¥20.0m | CN¥738,000 | CN¥9.43bn | CN¥6.65bn | CN¥816,829 | CN¥2.48bn |
| Shareholders' equity | CN¥1.11bn | CN¥1.04bn | CN¥1.15bn | −CN¥8.36bn | −CN¥5.28bn | −CN¥3.01bn | −CN¥2.41bn |
| Shares outstanding | 730m | 719m | 701m | 715m | 715m | 730m | 730m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥155.4m | CN¥76.9m | −CN¥82.5m | −CN¥126.3m | −CN¥156.0m | CN¥32.7m | −CN¥55.6m |
| Capital spending | −CN¥34.0m | −CN¥18.1m | −CN¥16.0m | −CN¥32.6m | −CN¥42.2m | −CN¥9.1m | −CN¥15.5m |
| Free cash flow | CN¥121.4m | CN¥58.9m | −CN¥98.5m | −CN¥158.9m | −CN¥198.3m | CN¥23.6m | −CN¥71.1m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥516.0m | CN¥431.8m | CN¥370.7m | CN¥385.7m | CN¥400.5m | CN¥339.8m | CN¥297.8m | CN¥311.5m |
| Gross profit | CN¥355.4m | CN¥281.7m | CN¥239.2m | CN¥236.0m | CN¥237.0m | CN¥192.1m | CN¥160.7m | CN¥179.7m |
| Operating income | −CN¥21.2m | −CN¥43.0m | −CN¥81.4m | −CN¥119.1m | −CN¥256.7m | −CN¥173.7m | −CN¥138.8m | −CN¥107.2m |
| Net income | −CN¥18.4m | −CN¥41.1m | −CN¥84.1m | −CN¥127.8m | −CN¥3.06bn | −CN¥2.07bn | −CN¥138.3m | −CN¥924.3m |
| Diluted earnings per share | -0.03 | -0.06 | -0.12 | -0.18 | -4.64 | -2.89 | -0.19 | -1.29 |
| Cash from operations | — | — | −CN¥82.0m | −CN¥70.0m | — | −CN¥128.0m | −CN¥158.0m | — |
| Capital spending | — | — | −CN¥6.0m | −CN¥13.0m | — | −CN¥32.0m | −CN¥28.0m | — |
| Free cash flow | — | — | −CN¥88.0m | −CN¥83.0m | — | −CN¥160.0m | −CN¥186.0m | — |
| Total assets | CN¥1.95bn | CN¥1.68bn | CN¥1.44bn | CN¥1.62bn | CN¥1.87bn | CN¥1.59bn | CN¥1.59bn | — |
| Cash and short-term investments | CN¥1.44bn | CN¥1.25bn | CN¥1.27bn | CN¥1.46bn | CN¥1.63bn | CN¥1.37bn | CN¥1.35bn | — |
| Debt | CN¥16.9m | CN¥17.0m | CN¥6.2m | CN¥626,632 | CN¥6.8m | CN¥8.01bn | CN¥6.31bn | — |
| Shareholders' equity | CN¥1.02bn | CN¥887.2m | CN¥879.3m | CN¥980.6m | CN¥1.18bn | −CN¥7.10bn | −CN¥5.26bn | — |
Financial ratios
Data as of 21 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 67.7% | 64.9% | 60.2% | 55.3% | 58.9% | 66.4% | — |
| Operating margin | -1.5% | -15.0% | -373.5% | -346.5% | -42.5% | -25.4% | — |
| Net margin | -2.1% | -15.6% | -375.4% | -346.1% | -280.9% | -169.0% | — |
| Return on equity | -2.1% | -14.1% | -277.8% | 31.1% | 36.1% | 26.5% | — |
| Return on assets | -1.1% | -7.5% | -168.3% | -138.9% | -93.8% | -158.6% | — |
| Free cash flow yield | 6.4% | 3.2% | -3.5% | -6.2% | -6.5% | — | — |
| Revenue growth | 16.9% | 10.6% | 13.8% | 10.5% | 22.2% | 21.3% | — |
| Earnings growth | -84.1% | -95.4% | 23.5% | 36.2% | 103.0% | -25.8% | — |
| Current ratio | 1.84x | 1.88x | 2.59x | 2.18x | 2.88x | 0.12x | — |
| Debt to equity | — | 0.00x | 0.00x | -1.13x | -1.25x | 0.00x | -1.03x |
| Equity ratio | 51.9% | 52.8% | 60.6% | -446.7% | -259.5% | -597.7% | — |
| Interest coverage | -9.38x | -6.76x | -752.32x | -65.19x | -4.68x | -3.17x | — |
| R&D as a share of sales | 23.6% | 30.4% | 41.0% | 40.4% | 38.0% | — | — |
| Buybacks as a share of market value | -1.5% | -2.7% | 2.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.1% | 18.5% | — |
| Operating income | -48.3% | -18.5% | — |
| Net income | -78.0% | -50.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 66.5% | 62.9% | 62.8% | — |
| Operating margin | -8.8% | -24.8% | -27.2% | — |
| Net margin | -7.8% | -155.3% | -173.6% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Price to earnings | -94.2 | -36.0 | -1.0 | -1.4 |
| Price to sales | 2.0 | 5.6 | 3.6 | 5.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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