R 
70.40
+0.28%
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¥3.76bn
FY2018FY2025
Net income
CN¥818.8m
FY2018FY2025
Free cash flow
−CN¥166.2m
FY2018FY2025
Shareholders' equity
CN¥2.68bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.76bn | CN¥1.98bn | CN¥1.25bn | CN¥892.3m | CN¥1.65bn | −CN¥561,303 | CN¥3.1m | CN¥13.1m |
| Research and development | CN¥1.41bn | CN¥1.80bn | CN¥1.84bn | CN¥1.13bn | CN¥821.6m | CN¥538.3m | CN¥406.9m | CN¥250.1m |
| Operating income | CN¥833.7m | −CN¥1.63bn | −CN¥1.74bn | −CN¥1.15bn | CN¥188.2m | −CN¥817.8m | −CN¥446.8m | −CN¥281.0m |
| Net income | CN¥818.8m | −CN¥1.70bn | −CN¥1.75bn | −CN¥1.15bn | CN¥319.3m | −CN¥806.4m | −CN¥497.3m | −CN¥312.0m |
| Diluted earnings per share | 1.50 | -3.16 | -3.23 | -2.07 | 0.66 | -1.65 | -1.04 | -0.65 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.38bn | CN¥6.35bn | CN¥6.39bn | CN¥6.96bn | CN¥4.81bn | CN¥4.76bn | CN¥796.6m | CN¥613.8m |
| Cash and short-term investments | CN¥2.80bn | CN¥877.8m | CN¥819.4m | CN¥2.39bn | CN¥2.03bn | CN¥3.20bn | CN¥43.3m | CN¥7.0m |
| Total liabilities | −CN¥2.68bn | CN¥4.06bn | CN¥2.42bn | CN¥1.20bn | CN¥823.7m | CN¥604.5m | CN¥1.06bn | CN¥1.19bn |
| Debt | CN¥2.52bn | CN¥2.68bn | CN¥1.28bn | CN¥286.8m | CN¥102.8m | CN¥197.7m | CN¥65.4m | CN¥4.5m |
| Shareholders' equity | CN¥2.68bn | CN¥2.30bn | CN¥3.97bn | CN¥5.76bn | CN¥3.98bn | CN¥4.15bn | −CN¥268.1m | −CN¥575.7m |
| Shares outstanding | 547m | 536m | 540m | 556m | 485m | 490m | 478m | 478m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥65.0m | −CN¥1.36bn | −CN¥1.74bn | −CN¥1.46bn | CN¥304.7m | −CN¥762.8m | −CN¥326.8m | −CN¥148.0m |
| Capital spending | −CN¥231.1m | −CN¥305.8m | −CN¥985.5m | −CN¥875.4m | −CN¥713.4m | −CN¥555.7m | −CN¥75.4m | −CN¥96.8m |
| Free cash flow | −CN¥166.2m | −CN¥1.67bn | −CN¥2.72bn | −CN¥2.34bn | −CN¥408.8m | −CN¥1.32bn | −CN¥402.1m | −CN¥244.7m |
| Dividends paid | — | −CN¥80.7m | −CN¥17.8m | — | — | — | — | — |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.77bn | CN¥718.7m | CN¥661.0m | CN¥607.8m | CN¥587.1m | CN¥539.8m | CN¥475.3m | CN¥381.9m |
| Operating income | CN¥1.45bn | −CN¥111.1m | −CN¥221.2m | −CN¥288.6m | −CN¥462.0m | −CN¥328.6m | −CN¥493.0m | −CN¥398.6m |
| Net income | CN¥1.46bn | −CN¥116.9m | −CN¥225.8m | −CN¥293.7m | −CN¥458.7m | −CN¥336.3m | −CN¥498.7m | −CN¥403.2m |
| Diluted earnings per share | 2.66 | -0.21 | -0.41 | -0.54 | -0.86 | -0.63 | -0.93 | -0.75 |
| Cash from operations | −CN¥187.0m | CN¥535.0m | −CN¥66.0m | −CN¥217.0m | −CN¥321.0m | −CN¥17.0m | −CN¥455.0m | −CN¥492.0m |
| Capital spending | −CN¥28.0m | −CN¥63.0m | −CN¥98.0m | −CN¥41.0m | −CN¥98.0m | −CN¥44.0m | −CN¥60.0m | −CN¥103.0m |
| Free cash flow | −CN¥215.0m | CN¥472.0m | −CN¥164.0m | −CN¥258.0m | −CN¥419.0m | −CN¥61.0m | −CN¥515.0m | −CN¥595.0m |
| Total assets | CN¥8.38bn | CN¥6.91bn | CN¥6.76bn | CN¥6.13bn | CN¥6.35bn | CN¥6.60bn | CN¥6.65bn | CN¥6.33bn |
| Cash and short-term investments | CN¥2.80bn | CN¥1.36bn | CN¥1.48bn | CN¥834.1m | CN¥881.2m | CN¥1.07bn | CN¥1.01bn | CN¥719.7m |
| Debt | CN¥2.52bn | CN¥1.69bn | CN¥3.06bn | CN¥1.89bn | CN¥3.11bn | CN¥1.32bn | CN¥2.70bn | CN¥731.9m |
| Shareholders' equity | CN¥2.68bn | CN¥2.68bn | CN¥2.72bn | CN¥2.05bn | CN¥2.30bn | CN¥2.74bn | CN¥3.08bn | CN¥3.56bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 3.7% | -83.0% | -139.5% | -137.3% | 19.8% | -2424.2% |
| Net margin | 21.9% | -85.5% | -140.4% | -130.0% | 19.4% | -2490.7% |
| Return on equity | 19.7% | -73.9% | -44.0% | -20.0% | 8.0% | -20.2% |
| Return on assets | 9.8% | -26.7% | -27.3% | -16.6% | 6.6% | -17.7% |
| Free cash flow yield | 0.6% | -2.0% | -1.5% | -1.2% | 2.3% | -0.5% |
| Revenue growth | 88.8% | 59.5% | 40.2% | -46.1% | 4777.7% | — |
| Earnings growth | -148.3% | -2.8% | 51.5% | -461.2% | -138.0% | 53.4% |
| Current ratio | 1.43x | 1.05x | 1.96x | 3.60x | 3.73x | 6.90x |
| Debt to equity | 0.60x | 1.32x | 0.34x | 0.03x | -0.10x | 0.03x |
| Equity ratio | 49.8% | 36.1% | 62.2% | 82.7% | 82.9% | 87.3% |
| Interest coverage | 1.75x | -19.68x | -65.03x | -156.00x | 52.90x | -24.21x |
| R&D as a share of sales | 33.2% | 90.6% | 121.4% | 127.9% | 49.9% | 1595.7% |
| Buybacks as a share of market value | -2.1% | 0.7% | 2.9% | -14.6% | 0.9% | -2.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 61.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -13.8% | -46.6% | -45.2% | — |
| Net margin | -15.3% | -47.9% | -44.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 41.6 | -3.9 | -10.0 | -24.2 | 102.4 | -49.9 |
| Price to sales | 9.1 | 3.4 | 14.0 | 31.3 | 19.9 | -71659.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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