T 
7.56
-1.56%
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¥4.72bn
FY2020FY2025
Net income
CN¥1.69bn
FY2020FY2025
Free cash flow
−CN¥397.5m
FY2020FY2025
Shareholders' equity
CN¥4.88bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥4.72bn | CN¥5.58bn | CN¥6.51bn | CN¥8.82bn | CN¥6.68bn | CN¥3.35bn |
| Research and development | CN¥111.5m | CN¥127.7m | CN¥171.2m | CN¥157.7m | CN¥159.5m | CN¥550.1m |
| Operating income | CN¥267.2m | CN¥187.8m | CN¥259.6m | CN¥453.9m | CN¥752.8m | −CN¥1.51bn |
| Net income | CN¥1.69bn | −CN¥3.6m | CN¥235.5m | CN¥514.1m | CN¥717.3m | −CN¥1.52bn |
| Diluted earnings per share | 3.16 | -0.01 | 0.46 | 0.96 | 1.34 | -2.84 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | CN¥8.60bn | CN¥5.56bn | CN¥7.27bn | CN¥9.80bn | CN¥7.64bn | CN¥4.50bn |
| Cash and short-term investments | CN¥4.59bn | CN¥1.26bn | CN¥899.7m | CN¥1.53bn | CN¥2.15bn | CN¥1.10bn |
| Total liabilities | CN¥3.61bn | CN¥3.14bn | CN¥4.99bn | CN¥8.09bn | CN¥6.27bn | CN¥3.73bn |
| Debt | CN¥1.64bn | CN¥1.77bn | CN¥3.21bn | CN¥6.41bn | CN¥3.72bn | CN¥1.87bn |
| Shareholders' equity | CN¥4.88bn | CN¥2.40bn | CN¥2.29bn | CN¥1.73bn | CN¥1.37bn | CN¥771.2m |
| Shares outstanding | 534m | 524m | 517m | 534m | 534m | 534m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −CN¥143.1m | −CN¥2.00bn | −CN¥2.35bn | CN¥2.28bn | CN¥3.07bn | −CN¥351.2m |
| Capital spending | −CN¥254.4m | −CN¥47.2m | −CN¥224.0m | −CN¥169.8m | −CN¥57.6m | −CN¥52.5m |
| Free cash flow | −CN¥397.5m | −CN¥2.05bn | −CN¥2.57bn | CN¥2.11bn | CN¥3.01bn | −CN¥403.6m |
| Dividends paid | — | — | −CN¥50.0m | — | −CN¥116.5m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.16bn | CN¥2.47bn | CN¥2.33bn | CN¥2.35bn | CN¥1.37bn | CN¥3.22bn | CN¥1.88bn | CN¥3.05bn |
| Operating income | CN¥30.4m | −CN¥164.4m | CN¥294.3m | CN¥299.4m | CN¥174.4m | −CN¥111.6m | −CN¥65.1m | CN¥65.0m |
| Net income | CN¥212.7m | CN¥1.01bn | CN¥701.1m | CN¥379.3m | CN¥220.9m | −CN¥382.7m | −CN¥223.2m | −CN¥20.1m |
| Diluted earnings per share | 0.40 | 1.90 | 1.31 | 0.72 | 0.42 | -0.73 | -0.43 | -0.04 |
| Cash from operations | — | CN¥706.0m | −CN¥574.0m | −CN¥1.14bn | — | −CN¥863.0m | −CN¥503.0m | −CN¥2.25bn |
| Capital spending | — | −CN¥233.0m | −CN¥5.0m | −CN¥23.0m | — | −CN¥22.0m | −CN¥13.0m | −CN¥11.0m |
| Free cash flow | — | CN¥473.0m | −CN¥579.0m | −CN¥1.16bn | — | −CN¥885.0m | −CN¥516.0m | −CN¥2.26bn |
| Total assets | CN¥8.82bn | CN¥8.60bn | CN¥6.64bn | CN¥5.56bn | CN¥6.48bn | CN¥6.25bn | CN¥7.27bn | CN¥8.46bn |
| Cash and short-term investments | CN¥5.22bn | CN¥4.59bn | CN¥2.08bn | CN¥1.26bn | CN¥1.47bn | CN¥815.4m | CN¥949.6m | CN¥1.05bn |
| Debt | CN¥577.0m | CN¥1.64bn | CN¥1.33bn | CN¥1.77bn | CN¥2.02bn | CN¥2.58bn | CN¥2.83bn | CN¥3.56bn |
| Shareholders' equity | CN¥4.91bn | CN¥4.88bn | CN¥3.72bn | CN¥2.40bn | CN¥2.79bn | CN¥1.93bn | CN¥2.24bn | CN¥2.66bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 5.7% | 0.2% | 6.6% | 7.0% | 12.0% | -42.4% |
| Net margin | 35.7% | -0.1% | 3.6% | 5.8% | 10.7% | -45.3% |
| Return on equity | 34.6% | -0.2% | 10.3% | 29.7% | 52.3% | -196.5% |
| Return on assets | 19.6% | -0.1% | 3.2% | 5.2% | 9.4% | -33.7% |
| Free cash flow yield | 1.8% | -38.0% | -42.0% | 46.8% | 51.3% | — |
| Revenue growth | -27.4% | -14.3% | -26.1% | 53.7% | 99.7% | — |
| Earnings growth | -40056.9% | -101.5% | -54.2% | -16.5% | -147.3% | — |
| Current ratio | 1.87x | 1.28x | 0.84x | 0.71x | 0.73x | 0.75x |
| Debt to equity | 0.32x | 0.72x | 1.34x | 3.59x | 3.01x | 2.62x |
| Equity ratio | 56.7% | 43.1% | 31.5% | 17.7% | 18.0% | 17.1% |
| Interest coverage | 16.89x | 0.28x | 29.84x | 5.74x | 85.11x | -23.58x |
| R&D as a share of sales | 2.4% | 2.3% | 2.6% | 1.8% | 2.4% | 16.4% |
| Buybacks as a share of market value | -2.1% | -1.3% | 3.3% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.8% | 7.1% | — |
| Operating income | -16.2% | — | — |
| Net income | 48.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 4.4% | 4.6% | 1.2% | — |
| Net margin | 16.3% | 9.5% | 4.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 4.8 | -921.6 | 11.6 |
| Price to sales | 1.7 | 0.6 | 0.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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