J 
6.49
+0.62%
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¥102.9m
FY2020FY2025
Net income
−CN¥308.1m
FY2020FY2025
Free cash flow
−CN¥93.4m
FY2020FY2025
Shareholders' equity
CN¥920.9m
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥102.9m | — | — | — | — | — |
| Gross profit | CN¥77.7m | — | — | — | — | — |
| Research and development | CN¥202.0m | CN¥142,637 | CN¥288.2m | CN¥291.6m | CN¥265.3m | CN¥170.6m |
| Operating income | −CN¥261.2m | −CN¥210,820 | −CN¥438.5m | −CN¥511.3m | −CN¥503.8m | −CN¥302.1m |
| Net income | −CN¥308.1m | −CN¥177,510 | −CN¥371.7m | −CN¥439.3m | −CN¥500.5m | −CN¥299.4m |
| Diluted earnings per share | -0.71 | -0.00 | -0.89 | -1.19 | -1.48 | -1.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥1.05bn | CN¥1.03bn | CN¥1.33bn | CN¥1.43bn | CN¥1.34bn | CN¥372.8m |
| Cash and short-term investments | CN¥615.3m | CN¥606.0m | CN¥1.09bn | CN¥825.1m | CN¥800.6m | CN¥349.1m |
| Total liabilities | CN¥143.6m | CN¥110.6m | CN¥100.8m | CN¥58.3m | CN¥50.8m | CN¥20.1m |
| Debt | CN¥53.5m | CN¥64.4m | CN¥44.1m | CN¥3.9m | CN¥2.4m | CN¥3.5m |
| Shareholders' equity | CN¥920.9m | CN¥931.8m | CN¥1.23bn | CN¥1.37bn | CN¥1.29bn | CN¥352.8m |
| Shares outstanding | 432m | 405m | 417m | 368m | 338m | 279m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −CN¥87.5m | −CN¥217.6m | −CN¥259.4m | −CN¥184.8m | −CN¥165.5m | −CN¥46.9m |
| Capital spending | −CN¥5.9m | −CN¥71.3m | −CN¥91.2m | −CN¥57.8m | −CN¥17.9m | −CN¥2.6m |
| Free cash flow | −CN¥93.4m | −CN¥288.8m | −CN¥350.6m | −CN¥242.6m | −CN¥183.4m | −CN¥49.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥74.9m | CN¥88.5m | CN¥7.8m | — | — | — | — | — |
| Gross profit | CN¥54.3m | CN¥70.6m | CN¥6.9m | — | — | — | — | — |
| Operating income | −CN¥61.6m | −CN¥104.0m | −CN¥80.7m | −CN¥93,296 | −CN¥54,394 | −CN¥117,524 | −CN¥68,520 | −CN¥219.2m |
| Net income | −CN¥56.8m | −CN¥116.6m | −CN¥98.9m | −CN¥75,249 | −CN¥43,873 | −CN¥102,261 | −CN¥59,621 | −CN¥185.9m |
| Diluted earnings per share | -0.13 | -0.27 | -0.23 | -0.00 | -0.00 | -0.00 | -0.00 | -0.45 |
| Cash from operations | — | CN¥16.0m | −CN¥54.0m | −CN¥108.0m | — | −CN¥108.0m | — | −CN¥129.0m |
| Capital spending | — | −CN¥2.0m | −CN¥3.0m | −CN¥35.0m | — | −CN¥35.0m | — | −CN¥45.0m |
| Free cash flow | — | CN¥14.0m | −CN¥57.0m | −CN¥143.0m | — | −CN¥143.0m | — | −CN¥174.0m |
| Total assets | CN¥981.3m | CN¥1.05bn | CN¥1.13bn | CN¥1.03bn | CN¥1.20bn | CN¥1.18bn | CN¥1.37bn | CN¥1.33bn |
| Cash and short-term investments | CN¥483.4m | CN¥615.3m | CN¥619.0m | CN¥606.0m | CN¥706.6m | CN¥822.4m | CN¥959.0m | CN¥1.09bn |
| Debt | CN¥12.8m | CN¥53.5m | CN¥67.2m | CN¥64.4m | CN¥21.0m | CN¥58.0m | CN¥4.3m | CN¥44.1m |
| Shareholders' equity | CN¥875.0m | CN¥920.9m | CN¥1.02bn | CN¥931.8m | CN¥1.09bn | CN¥1.08bn | CN¥1.26bn | CN¥1.23bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 75.5% | — | — | — | — | — |
| Operating margin | -253.8% | — | — | — | — | — |
| Net margin | -299.4% | — | — | — | — | — |
| Return on equity | -33.5% | -0.0% | -30.2% | -32.0% | -38.8% | -84.9% |
| Return on assets | -29.5% | -0.0% | -28.0% | -30.7% | -37.3% | -80.3% |
| Free cash flow yield | -2.3% | -5.2% | -5.0% | -4.3% | — | — |
| Earnings growth | 148741.9% | -100.0% | -15.4% | -12.2% | 67.1% | — |
| Current ratio | 5.86x | 10.68x | 19.68x | 15.08x | 16.68x | 19.35x |
| Debt to equity | 0.06x | 0.07x | 0.03x | 0.00x | 0.00x | 0.01x |
| Equity ratio | 88.1% | 90.7% | 92.9% | 95.9% | 96.2% | 94.6% |
| Interest coverage | -265.23x | -0.73x | -3087.75x | -4524.58x | -3875.71x | -508.59x |
| R&D as a share of sales | 196.3% | — | — | — | — | — |
| Buybacks as a share of market value | -6.6% | 2.9% | -13.4% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | -20.1% | -2.9% | — |
| Net income | -11.2% | 0.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -11.0 | -6594.2 | -22.0 | -49.0 |
| Price to sales | 33.0 | — | — | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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