A 
6.34
+1.28%
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¥643.2m
FY2017FY2025
Net income
−CN¥129.4m
FY2017FY2025
Free cash flow
−CN¥179.0m
FY2017FY2025
Shareholders' equity
CN¥2.00bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥643.2m | CN¥640.1m | CN¥218.8m | CN¥166.8m | CN¥170.3m | — | CN¥5.0m | −CN¥735,000 | CN¥1.2m |
| Research and development | CN¥576.5m | CN¥404.2m | CN¥407.5m | CN¥468.2m | CN¥561.3m | CN¥331.2m | CN¥166.7m | CN¥65.6m | CN¥53.2m |
| Operating income | −CN¥174.1m | CN¥101.0m | −CN¥305.6m | −CN¥432.4m | −CN¥465.5m | −CN¥409.4m | −CN¥829.1m | −CN¥92.2m | −CN¥64.8m |
| Net income | −CN¥129.4m | CN¥166.3m | −CN¥210.6m | −CN¥325.7m | −CN¥480.9m | −CN¥427.8m | −CN¥836.3m | −CN¥149.8m | −CN¥33.1m |
| Diluted earnings per share | -0.13 | 0.17 | -0.22 | -0.35 | -0.51 | -0.46 | -0.93 | -0.17 | -0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.45bn | CN¥2.61bn | CN¥2.49bn | CN¥2.47bn | CN¥3.15bn | CN¥2.64bn | CN¥2.85bn | CN¥826.9m | CN¥46.6m |
| Cash and short-term investments | CN¥1.57bn | CN¥1.83bn | CN¥1.64bn | CN¥1.57bn | CN¥2.32bn | CN¥2.06bn | CN¥2.38bn | CN¥633.7m | CN¥657,000 |
| Total liabilities | CN¥450.5m | CN¥478.0m | CN¥542.2m | CN¥652.9m | CN¥973.5m | CN¥366.4m | CN¥428.7m | CN¥1.09bn | CN¥20.3m |
| Debt | CN¥141.0m | CN¥186.0m | CN¥257.1m | CN¥345.4m | CN¥637.3m | CN¥222.8m | CN¥253.2m | CN¥1.01bn | — |
| Shareholders' equity | CN¥2.00bn | CN¥2.14bn | CN¥1.95bn | CN¥1.82bn | CN¥2.18bn | CN¥2.27bn | CN¥2.43bn | −CN¥267.0m | CN¥13.4m |
| Shares outstanding | 961m | 1,006m | 963m | 937m | 936m | 935m | 897m | 897m | 897m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥142.1m | CN¥212.3m | −CN¥236.5m | −CN¥350.2m | −CN¥373.9m | −CN¥347.2m | −CN¥225.5m | −CN¥93.9m | −CN¥65.2m |
| Capital spending | −CN¥36.8m | −CN¥21.8m | −CN¥42.2m | −CN¥151.2m | −CN¥184.4m | −CN¥90.8m | −CN¥171.4m | −CN¥73.1m | −CN¥8.3m |
| Free cash flow | −CN¥179.0m | CN¥190.6m | −CN¥278.7m | −CN¥501.4m | −CN¥558.2m | −CN¥438.0m | −CN¥396.9m | −CN¥167.0m | −CN¥73.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥316.6m | CN¥283.0m | CN¥372.5m | CN¥466.5m | CN¥173.6m | CN¥82.3m | CN¥159.1m | CN¥132.1m |
| Operating income | −CN¥51.6m | −CN¥176.5m | CN¥490,928 | CN¥187.5m | −CN¥86.5m | −CN¥198.7m | −CN¥145.3m | −CN¥245.6m |
| Net income | −CN¥47.2m | −CN¥155.4m | CN¥25.2m | CN¥211.2m | −CN¥44.9m | −CN¥170.7m | −CN¥46.5m | −CN¥208.0m |
| Diluted earnings per share | -0.05 | -0.16 | 0.03 | 0.21 | -0.04 | -0.18 | -0.05 | -0.22 |
| Cash from operations | — | −CN¥119.0m | −CN¥2.0m | CN¥258.0m | −CN¥45.0m | −CN¥150.0m | −CN¥85.0m | −CN¥179.0m |
| Capital spending | — | −CN¥11.0m | −CN¥25.0m | −CN¥16.0m | −CN¥4.0m | −CN¥16.0m | −CN¥25.0m | −CN¥75.0m |
| Free cash flow | — | −CN¥130.0m | −CN¥27.0m | CN¥242.0m | −CN¥49.0m | −CN¥166.0m | −CN¥110.0m | −CN¥254.0m |
| Total assets | CN¥2.52bn | CN¥2.45bn | CN¥2.75bn | CN¥2.24bn | CN¥2.14bn | CN¥2.14bn | CN¥2.72bn | CN¥2.12bn |
| Cash and short-term investments | CN¥1.67bn | CN¥1.57bn | CN¥1.92bn | CN¥1.57bn | CN¥1.46bn | CN¥1.41bn | CN¥1.84bn | CN¥1.35bn |
| Debt | CN¥245.6m | CN¥141.0m | CN¥318.9m | CN¥186.0m | CN¥326.6m | CN¥257.1m | CN¥330.7m | CN¥345.4m |
| Shareholders' equity | CN¥1.95bn | CN¥2.00bn | CN¥2.16bn | CN¥1.83bn | CN¥1.63bn | CN¥1.67bn | CN¥2.15bn | CN¥1.56bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -27.1% | 15.8% | -90.7% | -259.1% | -273.4% | — | -5596.9% | — |
| Net margin | -20.1% | 26.0% | -96.3% | -195.2% | -282.4% | — | -16753.7% | — |
| Return on equity | -6.5% | 9.1% | -12.6% | -20.9% | -22.1% | -18.8% | — | — |
| Return on assets | -5.3% | 7.4% | -9.9% | -15.4% | -15.2% | -16.2% | — | — |
| Free cash flow yield | -1.3% | 3.2% | -2.4% | -2.5% | -2.4% | -3.7% | — | — |
| Revenue growth | -13.8% | 192.6% | 31.1% | 14.3% | — | — | -779.2% | -160.1% |
| Earnings growth | -166.7% | -179.0% | -35.3% | -21.0% | -3.6% | -48.9% | — | — |
| Current ratio | 5.67x | 6.74x | 5.84x | 3.88x | 3.32x | 6.67x | — | — |
| Debt to equity | 0.07x | 0.10x | 0.15x | 0.22x | 0.33x | 0.09x | — | — |
| Equity ratio | 81.6% | 81.7% | 78.2% | 73.6% | 69.1% | 86.1% | — | — |
| Interest coverage | -20.58x | 10.18x | -16.29x | -30.44x | -30.29x | -34.62x | — | — |
| R&D as a share of sales | 89.6% | 63.1% | 186.3% | 280.6% | 329.7% | — | 3338.4% | — |
| Buybacks as a share of market value | 4.4% | -4.5% | -2.7% | -0.1% | -0.1% | -4.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 56.8% | — | — |
| Operating income | -26.2% | -15.7% | — |
| Net income | -26.5% | -21.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -63.1 | 18.3 | -14.5 | -14.9 | -12.7 | -17.2 | -7.2 |
| Price to sales | 12.7 | 4.8 | 14.0 | 29.0 | 35.8 | — | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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