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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¥1.62bn
FY2018FY2025
Net income
−CN¥924.2m
FY2018FY2025
Free cash flow
−CN¥65.2m
FY2018FY2025
Shareholders' equity
CN¥548.8m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.62bn | CN¥2.98bn | CN¥3.16bn | CN¥2.56bn | CN¥1.50bn | CN¥717.8m | CN¥448.6m | CN¥284.3m |
| Research and development | CN¥47.0m | CN¥64.5m | CN¥75.3m | CN¥98.2m | CN¥202.1m | CN¥113.2m | CN¥20.3m | CN¥21.1m |
| Operating income | −CN¥579.8m | −CN¥405.1m | −CN¥271.9m | −CN¥506.0m | −CN¥595.3m | −CN¥715.7m | −CN¥154.8m | −CN¥103.0m |
| Net income | −CN¥924.2m | −CN¥441.7m | −CN¥276.3m | −CN¥1.44bn | −CN¥3.54bn | −CN¥2.45bn | −CN¥476.8m | −CN¥159.1m |
| Diluted earnings per share | -1.48 | -0.75 | -0.50 | -2.90 | -6.03 | -4.11 | -0.80 | -0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.68bn | CN¥2.84bn | CN¥2.95bn | CN¥2.83bn | CN¥2.51bn | CN¥1.44bn | CN¥994.0m | CN¥336.8m |
| Cash and short-term investments | CN¥449.8m | CN¥532.2m | CN¥595.1m | CN¥723.2m | CN¥1.12bn | CN¥839.5m | CN¥514.2m | CN¥195.8m |
| Total liabilities | CN¥1.20bn | CN¥1.41bn | CN¥1.18bn | CN¥953.1m | CN¥9.66bn | CN¥4.35bn | CN¥1.74bn | CN¥679.1m |
| Debt | CN¥288.8m | CN¥581.2m | CN¥267.1m | CN¥228.7m | CN¥9.03bn | CN¥306.8m | CN¥222.7m | CN¥64.2m |
| Shareholders' equity | CN¥548.8m | CN¥1.45bn | CN¥1.83bn | CN¥1.85bn | −CN¥7.14bn | −CN¥2.88bn | −CN¥731.0m | −CN¥333.1m |
| Shares outstanding | 625m | 588m | 549m | 498m | 587m | 596m | 596m | 596m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥82.4m | −CN¥126.9m | −CN¥140.4m | −CN¥642.6m | −CN¥666.3m | −CN¥375.1m | −CN¥308.2m | −CN¥222.3m |
| Capital spending | −CN¥147.6m | −CN¥65.7m | −CN¥123.0m | −CN¥167.2m | −CN¥88.7m | −CN¥34.7m | −CN¥3.6m | −CN¥1.3m |
| Free cash flow | −CN¥65.2m | −CN¥192.6m | −CN¥263.5m | −CN¥809.9m | −CN¥755.0m | −CN¥409.7m | −CN¥311.9m | −CN¥223.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥314.6m | CN¥314.6m | CN¥365.3m | CN¥365.3m | CN¥446.3m | CN¥446.3m | CN¥583.0m | CN¥681.6m |
| Operating income | −CN¥9.8m | −CN¥9.8m | −CN¥132.7m | −CN¥132.7m | −CN¥294.0m | −CN¥294.0m | −CN¥116.9m | −CN¥136.6m |
| Net income | −CN¥14.9m | −CN¥14.9m | −CN¥187.5m | −CN¥187.5m | −CN¥274.6m | −CN¥274.6m | −CN¥171.3m | −CN¥200.3m |
| Diluted earnings per share | -0.03 | -0.03 | -0.30 | -0.30 | -0.44 | -0.44 | -0.29 | -0.34 |
| Cash from operations | — | — | CN¥19.0m | CN¥19.0m | CN¥14.0m | CN¥14.0m | CN¥20.0m | CN¥23.0m |
| Capital spending | — | — | −CN¥10.0m | −CN¥10.0m | −CN¥65.0m | −CN¥65.0m | −CN¥8.0m | −CN¥10.0m |
| Free cash flow | — | — | CN¥9.0m | CN¥9.0m | −CN¥51.0m | −CN¥51.0m | CN¥12.0m | CN¥13.0m |
| Total assets | CN¥1.47bn | CN¥1.47bn | CN¥1.68bn | CN¥1.68bn | CN¥2.15bn | CN¥2.15bn | CN¥2.84bn | CN¥2.84bn |
| Cash and short-term investments | CN¥442.7m | CN¥442.7m | CN¥410.6m | CN¥410.6m | CN¥445.3m | CN¥559.6m | CN¥525.8m | CN¥532.2m |
| Debt | CN¥203.2m | CN¥203.2m | CN¥279.6m | CN¥606.7m | CN¥543.3m | CN¥531.9m | CN¥581.2m | CN¥558.7m |
| Shareholders' equity | CN¥511.0m | CN¥511.0m | CN¥548.6m | CN¥548.6m | CN¥962.4m | CN¥962.4m | CN¥1.45bn | CN¥1.45bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.0% | 17.7% | — |
| Operating income | 4.6% | -4.1% | — |
| Net income | -13.8% | -17.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -21.4% | -17.1% | -24.5% | — |
| Net margin | -29.6% | -29.9% | -72.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -0.6 | -1.4 | -11.8 | -4.0 |
| Price to sales | 0.3 | 0.2 | 1.0 | 2.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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