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8.44
-0.94%
Close of 9 Nov 2026, in USD
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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¥9.56bn
FY2017FY2025
Net income
−CN¥936.3m
FY2017FY2025
Free cash flow
−CN¥941.3m
FY2017FY2025
Shareholders' equity
CN¥9.32bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.56bn | CN¥7.79bn | CN¥7.05bn | CN¥8.18bn | CN¥9.06bn | CN¥6.58bn | CN¥3.96bn | CN¥2.22bn | CN¥1.24bn |
| Gross profit | CN¥1.50bn | CN¥1.34bn | CN¥850.2m | CN¥429.5m | CN¥351.3m | CN¥357.0m | CN¥7.7m | −CN¥200.4m | −CN¥118.2m |
| Research and development | CN¥810.3m | CN¥846.0m | CN¥784.8m | CN¥971.2m | CN¥1.04bn | CN¥775.1m | CN¥595.2m | CN¥440.5m | CN¥399.2m |
| Operating income | −CN¥530.7m | −CN¥825.7m | −CN¥2.02bn | −CN¥2.61bn | −CN¥1.72bn | −CN¥1.21bn | −CN¥1.14bn | −CN¥979.4m | −CN¥726.9m |
| Net income | −CN¥936.3m | −CN¥1.97bn | −CN¥2.18bn | −CN¥2.66bn | −CN¥1.59bn | −CN¥962.3m | −CN¥1.11bn | −CN¥1.01bn | −CN¥714.3m |
| Diluted earnings per share | -3.09 | -7.95 | -9.10 | -11.19 | -6.53 | -4.35 | -18.47 | -18.93 | -2.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥26.75bn | CN¥17.59bn | CN¥15.07bn | CN¥17.32bn | CN¥21.08bn | CN¥11.96bn | CN¥6.03bn | CN¥5.86bn | — |
| Cash and short-term investments | CN¥6.12bn | CN¥2.74bn | CN¥2.26bn | CN¥4.67bn | CN¥6.71bn | CN¥6.12bn | CN¥2.25bn | CN¥3.72bn | — |
| Total liabilities | CN¥17.43bn | CN¥12.09bn | CN¥7.82bn | CN¥7.73bn | CN¥9.59bn | CN¥3.69bn | CN¥10.23bn | CN¥9.10bn | — |
| Debt | CN¥6.47bn | CN¥5.20bn | CN¥1.72bn | CN¥1.35bn | CN¥1.62bn | CN¥612.3m | CN¥174.4m | CN¥400.1m | — |
| Shareholders' equity | CN¥9.32bn | CN¥5.17bn | CN¥6.89bn | CN¥8.80bn | CN¥10.60bn | CN¥8.24bn | −CN¥4.20bn | −CN¥3.24bn | — |
| Shares outstanding | 303m | 247m | 239m | 238m | 243m | 221m | 60m | 53m | 300m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.80bn | CN¥628.4m | −CN¥169.1m | CN¥189.0m | −CN¥708.9m | −CN¥290.4m | −CN¥439.1m | −CN¥383.1m | −CN¥134.5m |
| Capital spending | −CN¥4.74bn | −CN¥3.68bn | −CN¥1.96bn | −CN¥1.44bn | −CN¥735.4m | −CN¥1.59bn | −CN¥999.7m | −CN¥1.10bn | −CN¥351.0m |
| Free cash flow | −CN¥941.3m | −CN¥3.05bn | −CN¥2.13bn | −CN¥1.25bn | −CN¥1.44bn | −CN¥1.88bn | −CN¥1.44bn | −CN¥1.48bn | −CN¥485.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.06bn | CN¥2.70bn | CN¥2.76bn | CN¥2.48bn | CN¥2.35bn | CN¥1.97bn | CN¥2.23bn | CN¥1.89bn |
| Gross profit | CN¥464.9m | CN¥345.7m | CN¥465.4m | CN¥380.9m | CN¥338.9m | CN¥318.3m | CN¥426.0m | CN¥303.4m |
| Operating income | CN¥22.9m | −CN¥217.1m | CN¥179.1m | −CN¥145.3m | −CN¥341.4m | −CN¥228.9m | −CN¥43.5m | −CN¥224.0m |
| Net income | −CN¥92.8m | −CN¥343.8m | −CN¥160.2m | −CN¥4.6m | −CN¥457.5m | −CN¥313.9m | −CN¥197.0m | −CN¥1.06bn |
| Diluted earnings per share | -0.31 | -1.15 | -0.53 | -0.02 | -1.51 | -1.04 | -0.80 | -4.27 |
| Cash from operations | CN¥2.85bn | CN¥533.0m | CN¥1.04bn | CN¥1.72bn | CN¥1.46bn | −CN¥418.0m | CN¥570.0m | CN¥228.0m |
| Capital spending | — | −CN¥4.74bn | −CN¥4.74bn | −CN¥1.70bn | −CN¥1.44bn | −CN¥417.0m | — | −CN¥221.0m |
| Free cash flow | — | −CN¥4.21bn | −CN¥3.70bn | CN¥16.0m | CN¥17.0m | −CN¥835.0m | — | CN¥7.0m |
| Total assets | CN¥30.71bn | CN¥28.46bn | CN¥26.75bn | CN¥25.65bn | CN¥24.83bn | CN¥19.72bn | CN¥17.59bn | CN¥16.70bn |
| Cash and short-term investments | CN¥4.73bn | CN¥4.90bn | CN¥6.12bn | CN¥3.95bn | CN¥5.46bn | CN¥2.38bn | CN¥2.74bn | CN¥1.62bn |
| Debt | CN¥6.78bn | CN¥6.93bn | CN¥6.41bn | CN¥6.22bn | CN¥5.56bn | CN¥4.59bn | CN¥5.53bn | CN¥2.40bn |
| Shareholders' equity | CN¥8.90bn | CN¥9.00bn | CN¥9.32bn | CN¥6.74bn | CN¥6.72bn | CN¥5.01bn | CN¥5.17bn | CN¥5.23bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.7% | 17.2% | 12.1% | 5.3% | 3.9% | 5.4% |
| Operating margin | -5.6% | -10.6% | -28.7% | -31.9% | -19.0% | -18.4% |
| Net margin | -9.8% | -25.3% | -30.9% | -32.5% | -17.5% | -14.6% |
| Return on equity | -10.0% | -38.1% | -31.6% | -30.2% | -15.0% | -11.7% |
| Return on assets | -3.5% | -11.2% | -14.4% | -15.4% | -7.5% | -8.0% |
| Free cash flow yield | 274.6% | 169.7% | 73.1% | 66.6% | 1.1% | 57.3% |
| Revenue growth | 22.8% | 10.5% | -13.8% | -9.7% | 37.8% | 66.2% |
| Earnings growth | -52.4% | -9.6% | -18.1% | 67.3% | 65.1% | -13.4% |
| Current ratio | 1.17x | 0.75x | 0.89x | 1.36x | 1.65x | 2.75x |
| Debt to equity | 0.69x | 0.86x | 0.19x | 0.12x | 0.14x | 0.05x |
| Equity ratio | 34.9% | 29.4% | 45.7% | 50.8% | 50.3% | 68.9% |
| Interest coverage | -1.10x | -3.54x | -13.83x | -18.59x | -33.57x | -135.08x |
| R&D as a share of sales | 8.5% | 10.9% | 11.1% | 11.9% | 11.5% | 11.8% |
| Buybacks as a share of market value | -22.5% | -3.4% | -0.7% | 2.3% | -10.0% | -267.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.1% | 6.6% | — |
| Operating income | -41.2% | -15.2% | — |
| Net income | -29.4% | -0.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.4% | 12.7% | 10.0% | — |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | -23.4 |
| Price to sales | 2.4 |
Market value over time
29 May 2020 to 21 Sept 2026, in CNY
CN¥1.21bnCN¥3.08bn
Share price return
Finished calendar years
| 2025 | |
|---|---|
| Return | -2% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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