Y 
3.36
-0.59%
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¥24.42bn
FY2020FY2025
Net income
CN¥178.1m
FY2020FY2025
Free cash flow
CN¥721.3m
FY2020FY2025
Shareholders' equity
CN¥2.85bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥24.42bn | CN¥17.90bn | CN¥16.97bn | CN¥14.27bn | CN¥11.75bn | CN¥7.06bn |
| Gross profit | CN¥2.69bn | CN¥1.81bn | CN¥1.74bn | CN¥1.43bn | CN¥1.06bn | CN¥708.8m |
| Research and development | CN¥111.4m | CN¥94.2m | CN¥93.6m | CN¥79.1m | CN¥65.9m | CN¥28.8m |
| Operating income | CN¥73.5m | −CN¥95.7m | −CN¥70.0m | −CN¥259.2m | −CN¥483.6m | −CN¥351.3m |
| Net income | CN¥178.1m | CN¥30.0m | −CN¥3.21bn | −CN¥1.50bn | −CN¥584.1m | −CN¥665.7m |
| Diluted earnings per share | 0.26 | 0.05 | -5.02 | -11.97 | -4.66 | -5.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥8.81bn | CN¥6.50bn | CN¥5.21bn | CN¥4.11bn | CN¥4.00bn | CN¥3.02bn |
| Cash and short-term investments | CN¥3.94bn | CN¥1.99bn | CN¥1.83bn | CN¥1.87bn | CN¥1.33bn | CN¥641.9m |
| Total liabilities | CN¥6.03bn | CN¥4.23bn | CN¥3.33bn | CN¥8.48bn | CN¥7.39bn | CN¥5.88bn |
| Debt | CN¥381.3m | CN¥233.5m | CN¥209.7m | CN¥180.5m | CN¥181.7m | CN¥248.9m |
| Shareholders' equity | CN¥2.85bn | CN¥2.32bn | CN¥1.92bn | −CN¥4.35bn | −CN¥3.38bn | −CN¥2.87bn |
| Shares outstanding | 698m | 666m | 638m | 125m | 125m | 125m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | CN¥742.5m | CN¥655.9m | CN¥451.2m | CN¥98.2m | −CN¥567.1m | −CN¥144.8m |
| Capital spending | −CN¥21.2m | −CN¥23.4m | −CN¥17.5m | −CN¥43.7m | −CN¥140.9m | −CN¥29.8m |
| Free cash flow | CN¥721.3m | CN¥632.5m | CN¥433.7m | CN¥54.5m | −CN¥708.0m | −CN¥174.6m |
| Dividends paid | −CN¥59.1m | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥11.81bn | CN¥12.96bn | CN¥11.46bn | CN¥9.09bn | CN¥5.29bn | CN¥8.81bn | CN¥5.13bn | CN¥9.00bn |
| Gross profit | CN¥1.32bn | CN¥1.40bn | CN¥1.29bn | CN¥931.7m | CN¥542.4m | CN¥881.7m | CN¥513.3m | CN¥923.7m |
| Operating income | CN¥89.0m | CN¥28.5m | CN¥45.0m | −CN¥55.0m | −CN¥32.0m | −CN¥40.7m | −CN¥23.7m | −CN¥68.2m |
| Net income | CN¥127.3m | CN¥87.1m | CN¥91.0m | CN¥8.2m | CN¥4.8m | CN¥21.8m | CN¥12.7m | −CN¥20.6m |
| Diluted earnings per share | 0.19 | 0.12 | 0.13 | 0.01 | 0.01 | 0.03 | 0.02 | -0.03 |
| Cash from operations | — | CN¥467.0m | CN¥298.0m | CN¥236.0m | — | CN¥418.0m | CN¥243.0m | CN¥85.0m |
| Capital spending | — | −CN¥12.0m | −CN¥7.0m | −CN¥7.0m | — | −CN¥15.0m | −CN¥9.0m | −CN¥9.0m |
| Free cash flow | — | CN¥455.0m | CN¥291.0m | CN¥229.0m | — | CN¥403.0m | CN¥234.0m | CN¥76.0m |
| Total assets | CN¥8.61bn | CN¥8.81bn | CN¥7.89bn | CN¥6.50bn | CN¥7.56bn | CN¥5.31bn | CN¥6.18bn | CN¥5.21bn |
| Cash and short-term investments | CN¥3.49bn | CN¥3.94bn | CN¥2.27bn | CN¥1.99bn | CN¥2.31bn | CN¥2.26bn | CN¥2.63bn | CN¥1.83bn |
| Debt | CN¥2.74bn | CN¥381.3m | CN¥328.8m | CN¥233.5m | CN¥120.5m | CN¥214.1m | CN¥113.3m | CN¥209.7m |
| Shareholders' equity | CN¥2.77bn | CN¥2.85bn | CN¥2.71bn | CN¥2.32bn | CN¥2.70bn | CN¥2.02bn | CN¥2.35bn | CN¥1.92bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.0% | 10.1% | 10.3% | 10.1% | 9.1% | 10.0% |
| Operating margin | 0.3% | -0.5% | -18.9% | -10.4% | -4.9% | -9.3% |
| Net margin | 0.7% | 0.2% | -18.9% | -10.5% | -5.0% | -9.4% |
| Return on equity | 6.3% | 1.3% | -167.0% | 34.5% | 17.3% | 23.2% |
| Return on assets | 2.0% | 0.5% | -61.5% | -36.5% | -14.6% | -22.1% |
| Free cash flow yield | 25.5% | 27.5% | 19.7% | 21.9% | — | — |
| Revenue growth | 17.1% | 5.5% | 18.9% | 41.4% | 66.4% | — |
| Earnings growth | 409.7% | -100.9% | 113.8% | 199.0% | -12.3% | — |
| Current ratio | 1.22x | 1.33x | 1.50x | 0.44x | 0.41x | 0.36x |
| Debt to equity | 0.09x | 0.04x | 0.06x | -0.02x | -0.02x | -0.06x |
| Equity ratio | 32.3% | 35.7% | 36.8% | -105.9% | -84.4% | -95.0% |
| Interest coverage | 5.29x | -8.44x | -319.00x | -145.31x | -58.23x | -54.94x |
| R&D as a share of sales | 0.5% | 0.5% | 0.6% | 0.6% | 0.6% | 0.4% |
| Buybacks as a share of market value | -4.8% | -4.4% | -409.5% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 19.6% | 28.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.6% | 10.4% | 10.2% | — |
| Operating margin | -0.1% | -0.5% | -1.3% | — |
| Net margin | 0.5% | -6.1% | -6.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 18.3 | 109.0 | -1.4 |
| Price to sales | 0.1 | 0.2 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 23 May 2025.
| FY2025 | |
|---|---|
| Paid in the year | 0.081 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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