C 
3.99
+6.40%
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¥24.05bn
FY2018FY2025
Net income
−CN¥503.5m
FY2018FY2025
Free cash flow
−CN¥208.4m
FY2018FY2025
Shareholders' equity
CN¥12.79bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥24.05bn | CN¥23.40bn | CN¥21.77bn | CN¥21.02bn | CN¥17.87bn | CN¥13.72bn | CN¥8.93bn | CN¥7.38bn |
| Gross profit | CN¥7.17bn | CN¥6.73bn | CN¥5.21bn | CN¥4.92bn | CN¥5.47bn | CN¥4.20bn | CN¥2.20bn | CN¥1.80bn |
| Research and development | CN¥183.4m | CN¥132.9m | CN¥75.5m | CN¥68.3m | CN¥56.3m | CN¥26.4m | CN¥12.2m | CN¥6.1m |
| Operating income | CN¥5.19bn | CN¥4.90bn | CN¥3.50bn | CN¥1.83bn | CN¥3.78bn | CN¥2.74bn | CN¥1.16bn | CN¥931.0m |
| Net income | −CN¥503.5m | −CN¥804.5m | −CN¥1.22bn | CN¥483.0m | CN¥1.81bn | CN¥1.56bn | CN¥933.8m | CN¥760.3m |
| Diluted earnings per share | -0.13 | -0.21 | -0.32 | 0.13 | 0.48 | 0.43 | 0.25 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥49.36bn | CN¥50.84bn | CN¥53.80bn | CN¥50.59bn | CN¥37.22bn | CN¥25.85bn | CN¥11.58bn | CN¥9.04bn |
| Cash and short-term investments | CN¥2.13bn | CN¥1.03bn | CN¥4.58bn | CN¥3.33bn | CN¥1.18bn | CN¥3.05bn | CN¥664.3m | CN¥363.2m |
| Total liabilities | CN¥35.57bn | CN¥36.68bn | CN¥38.55bn | CN¥33.42bn | CN¥19.89bn | CN¥15.30bn | CN¥5.31bn | CN¥3.70bn |
| Debt | CN¥29.88bn | CN¥26.49bn | CN¥28.08bn | CN¥23.32bn | CN¥13.18bn | CN¥10.21bn | CN¥3.11bn | CN¥2.07bn |
| Shareholders' equity | CN¥12.79bn | CN¥13.15bn | CN¥13.78bn | CN¥15.21bn | CN¥15.35bn | CN¥9.11bn | CN¥6.28bn | CN¥5.34bn |
| Shares outstanding | 3,893m | 3,891m | 3,795m | 3,795m | 3,799m | 3,608m | 3,795m | 3,795m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.89bn | CN¥6.80bn | CN¥5.11bn | CN¥2.97bn | CN¥2.64bn | CN¥1.99bn | CN¥1.01bn | CN¥705.5m |
| Capital spending | −CN¥6.10bn | −CN¥7.56bn | −CN¥9.38bn | −CN¥10.11bn | −CN¥9.08bn | −CN¥4.39bn | −CN¥2.08bn | −CN¥1.56bn |
| Free cash flow | −CN¥208.4m | −CN¥759.1m | −CN¥4.26bn | −CN¥7.14bn | −CN¥6.44bn | −CN¥2.40bn | −CN¥1.07bn | −CN¥856.5m |
| Dividends paid | — | — | −CN¥97.2m | — | — | −CN¥1.40bn | −CN¥1.40bn | −CN¥1.40bn |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥12.20bn | CN¥12.08bn | CN¥11.98bn | CN¥11.69bn | CN¥11.71bn | CN¥11.20bn | CN¥10.57bn | CN¥10.88bn |
| Gross profit | CN¥673.3m | CN¥3.57bn | CN¥3.59bn | CN¥3.42bn | CN¥3.32bn | CN¥2.77bn | CN¥2.44bn | CN¥2.48bn |
| Operating income | −CN¥173.0m | CN¥2.53bn | CN¥2.66bn | CN¥2.44bn | CN¥2.46bn | CN¥1.89bn | CN¥1.65bn | CN¥1.66bn |
| Net income | CN¥925.7m | −CN¥158.2m | −CN¥345.4m | −CN¥419.2m | −CN¥385.3m | −CN¥67.5m | −CN¥1.16bn | CN¥227.6m |
| Diluted earnings per share | 0.22 | -0.04 | -0.09 | -0.11 | -0.10 | -0.02 | -0.30 | 0.06 |
| Cash from operations | — | CN¥3.12bn | CN¥3.34bn | CN¥2.90bn | CN¥3.89bn | CN¥2.01bn | CN¥3.10bn | CN¥798.0m |
| Capital spending | — | −CN¥3.08bn | −CN¥3.18bn | −CN¥3.54bn | −CN¥4.02bn | −CN¥4.93bn | −CN¥4.32bn | −CN¥5.54bn |
| Free cash flow | — | CN¥42.0m | CN¥162.0m | −CN¥634.0m | −CN¥125.0m | −CN¥2.92bn | −CN¥1.22bn | −CN¥4.74bn |
| Total assets | CN¥47.74bn | CN¥49.36bn | CN¥49.23bn | CN¥50.84bn | CN¥50.60bn | CN¥53.80bn | CN¥53.28bn | CN¥50.59bn |
| Cash and short-term investments | CN¥2.34bn | CN¥2.13bn | CN¥1.36bn | CN¥1.03bn | CN¥2.20bn | CN¥4.58bn | CN¥7.60bn | CN¥3.33bn |
| Debt | CN¥18.73bn | CN¥29.88bn | CN¥31.23bn | CN¥30.85bn | CN¥30.79bn | CN¥32.70bn | CN¥33.00bn | CN¥27.16bn |
| Shareholders' equity | CN¥16.12bn | CN¥12.79bn | CN¥12.84bn | CN¥13.15bn | CN¥13.36bn | CN¥13.78bn | CN¥13.74bn | CN¥15.21bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 29.8% | 28.8% | 23.9% | 23.4% | 30.6% | 30.6% |
| Operating margin | 21.6% | 20.9% | 16.1% | 8.7% | 21.1% | 20.0% |
| Net margin | -2.1% | -3.4% | -5.6% | 2.3% | 10.2% | 11.4% |
| Return on equity | -3.9% | -6.1% | -8.9% | 3.2% | 11.8% | 17.1% |
| Return on assets | -1.0% | -1.6% | -2.3% | 1.0% | 4.9% | 6.0% |
| Free cash flow yield | 67.1% | 80.3% | 83.1% | 75.0% | 67.2% | 38.5% |
| Revenue growth | 2.8% | 7.5% | 3.6% | 17.6% | 30.3% | 53.6% |
| Earnings growth | -37.4% | -34.2% | -353.1% | -73.4% | 16.2% | 67.2% |
| Current ratio | 0.43x | 0.40x | 0.55x | 0.58x | 0.66x | 0.92x |
| Debt to equity | 2.16x | 2.17x | 2.24x | 1.68x | 0.90x | 1.19x |
| Equity ratio | 25.9% | 25.9% | 25.6% | 30.1% | 41.2% | 35.2% |
| Interest coverage | 5.45x | 4.66x | 2.77x | 1.43x | 4.43x | 7.61x |
| R&D as a share of sales | 0.8% | 0.6% | 0.3% | 0.3% | 0.3% | 0.2% |
| Buybacks as a share of market value | -0.0% | -2.5% | 0.0% | 0.1% | -5.3% | 4.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.2% | 10.6% | — |
| Operating income | 41.5% | 13.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.3% | 26.6% | 27.6% | — |
| Operating margin | 21.3% | 17.1% | 18.0% | — |
| Net margin | -2.8% | -2.3% | 1.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -34.1 | -6.9 | -4.0 | 14.7 | 7.6 |
| Price to sales | 0.8 | 0.3 | 0.3 | 0.4 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 May 2023.
| FY2023 | |
|---|---|
| Paid in the year | 0.025 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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