L 
2.55
-0.39%
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¥1.14bn
FY2018FY2025
Net income
−CN¥511.3m
FY2018FY2025
Free cash flow
CN¥128.9m
FY2018FY2025
Shareholders' equity
CN¥8.10bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.14bn | CN¥1.03bn | CN¥867.8m | CN¥1.08bn | CN¥1.40bn | CN¥1.20bn | CN¥815.0m | CN¥445.9m |
| Research and development | CN¥311.8m | CN¥330.8m | CN¥365.8m | CN¥409.0m | CN¥323.2m | CN¥120.8m | CN¥69.8m | CN¥48.1m |
| Operating income | −CN¥410.7m | −CN¥669.7m | −CN¥340.6m | CN¥127.1m | CN¥370.5m | CN¥373.2m | CN¥177.7m | CN¥63.7m |
| Net income | −CN¥511.3m | −CN¥835.4m | −CN¥441.2m | −CN¥15.7m | −CN¥15.13bn | −CN¥835.3m | −CN¥1.26bn | −CN¥1.64bn |
| Diluted earnings per share | -0.27 | -0.42 | -0.21 | -0.01 | -7.01 | -27.08 | -40.86 | -0.73 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥9.32bn | CN¥10.01bn | CN¥11.34bn | CN¥13.89bn | CN¥13.76bn | CN¥7.15bn | CN¥4.39bn | CN¥3.64bn |
| Cash and short-term investments | CN¥6.10bn | CN¥6.47bn | CN¥7.16bn | CN¥10.34bn | CN¥11.10bn | CN¥2.78bn | CN¥3.01bn | CN¥2.48bn |
| Total liabilities | CN¥1.24bn | CN¥885.7m | CN¥719.6m | CN¥2.29bn | CN¥2.43bn | CN¥11.02bn | CN¥7.41bn | CN¥5.44bn |
| Debt | CN¥89.2m | CN¥115.9m | CN¥124.4m | CN¥59.4m | CN¥1.26bn | CN¥2.76bn | CN¥461.7m | CN¥804.7m |
| Shareholders' equity | CN¥8.10bn | CN¥9.13bn | CN¥10.62bn | CN¥11.60bn | CN¥11.32bn | −CN¥3.88bn | −CN¥3.02bn | −CN¥1.80bn |
| Shares outstanding | 1,924m | 1,976m | 2,121m | 2,126m | 2,159m | 31m | 31m | 2,264m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥212.3m | CN¥711.3m | −CN¥377.7m | CN¥2.17bn | −CN¥851.8m | −CN¥2.45bn | CN¥235.1m | −CN¥1.15bn |
| Capital spending | −CN¥83.5m | −CN¥120.7m | −CN¥156.5m | −CN¥198.2m | −CN¥183.1m | −CN¥89.6m | −CN¥71.2m | −CN¥32.4m |
| Free cash flow | CN¥128.9m | CN¥590.6m | −CN¥534.1m | CN¥1.97bn | −CN¥1.03bn | −CN¥2.54bn | CN¥163.9m | −CN¥1.19bn |
| Dividends paid | −CN¥68.1m | −CN¥195.9m | −CN¥613.5m | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥665.2m | CN¥708.6m | CN¥436.3m | CN¥618.1m | CN¥360.0m | CN¥413.1m | CN¥240.6m | CN¥476.7m |
| Operating income | −CN¥72.4m | −CN¥18.0m | −CN¥392.7m | −CN¥483.2m | −CN¥281.4m | −CN¥186.5m | −CN¥108.7m | −CN¥196.2m |
| Net income | CN¥27.5m | −CN¥76.8m | −CN¥442.4m | −CN¥594.6m | −CN¥346.3m | −CN¥240.8m | −CN¥140.3m | −CN¥270.9m |
| Diluted earnings per share | 0.01 | -0.04 | -0.23 | -0.30 | -0.18 | -0.12 | -0.07 | -0.13 |
| Cash from operations | — | CN¥60.0m | CN¥249.0m | CN¥558.0m | — | CN¥152.0m | CN¥88.0m | CN¥139.0m |
| Capital spending | — | −CN¥44.0m | −CN¥38.0m | −CN¥59.0m | — | −CN¥60.0m | −CN¥35.0m | −CN¥92.0m |
| Free cash flow | — | CN¥16.0m | CN¥211.0m | CN¥499.0m | — | CN¥92.0m | CN¥53.0m | CN¥47.0m |
| Total assets | CN¥9.05bn | CN¥9.32bn | CN¥9.82bn | CN¥8.59bn | CN¥10.01bn | CN¥9.52bn | CN¥11.09bn | CN¥11.34bn |
| Cash and short-term investments | CN¥5.87bn | CN¥6.10bn | CN¥6.30bn | CN¥5.55bn | CN¥6.14bn | CN¥5.89bn | CN¥6.43bn | CN¥7.16bn |
| Debt | CN¥97.7m | CN¥89.2m | CN¥89.2m | CN¥115.9m | CN¥60.6m | CN¥364.1m | CN¥336.8m | CN¥50.9m |
| Shareholders' equity | CN¥7.85bn | CN¥8.10bn | CN¥8.62bn | CN¥7.83bn | CN¥9.13bn | CN¥8.49bn | CN¥9.89bn | CN¥10.62bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -31.8% | -46.7% | -47.9% | 5.2% | -1066.8% | 33.4% |
| Net margin | -44.7% | -81.0% | -50.8% | -1.5% | -1084.4% | -69.7% |
| Return on equity | -6.3% | -10.7% | -4.8% | -0.1% | -133.7% | 21.5% |
| Return on assets | -5.5% | -9.7% | -4.5% | -0.1% | -110.0% | -11.7% |
| Free cash flow yield | 5.7% | 18.1% | -3.8% | 41.0% | -11.4% | -2814.2% |
| Revenue growth | -4.7% | 18.8% | -6.1% | -22.9% | 16.5% | 47.0% |
| Earnings growth | -47.5% | 89.3% | 3178.6% | -99.9% | 1711.7% | -33.7% |
| Current ratio | 6.53x | 11.19x | 16.47x | 5.73x | 5.54x | 0.61x |
| Debt to equity | 0.01x | 0.01x | 0.00x | 0.00x | 0.12x | -0.82x |
| Equity ratio | 87.0% | 91.2% | 93.7% | 83.5% | 82.3% | -54.3% |
| Interest coverage | -81.42x | -42.24x | -50.04x | 1.59x | -94.57x | 2.89x |
| R&D as a share of sales | 27.2% | 32.1% | 42.2% | 38.0% | 23.2% | 10.1% |
| Buybacks as a share of market value | 2.6% | 6.8% | 0.2% | 1.6% | -6899.5% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.2% | 2.3% | — |
| Net income | 219.5% | -9.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -49.7% | -31.4% | -8.2% | — |
| Net margin | -61.9% | -43.8% | -264.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -7.3 | -3.5 | -6.6 | -479.1 | -0.9 |
| Price to sales | 3.2 | 2.9 | 3.2 | 7.1 | 13.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 22 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.052 | 0.03 | 0.10 | 0.25 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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