N 
3.41
+0.59%
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¥85.10bn
FY2016FY2025
Net income
−CN¥14.55bn
FY2016FY2025
Free cash flow
−CN¥3.07bn
FY2016FY2025
Shareholders' equity
CN¥4.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥85.10bn | CN¥65.73bn | CN¥55.62bn | CN¥49.27bn | CN¥36.14bn | CN¥16.26bn | CN¥7.82bn | CN¥4.95bn | — | — |
| Research and development | CN¥10.32bn | CN¥13.04bn | CN¥13.43bn | CN¥10.84bn | CN¥4.59bn | CN¥2.49bn | CN¥4.43bn | CN¥4.00bn | CN¥2.60bn | CN¥1.47bn |
| Operating income | −CN¥14.29bn | −CN¥21.87bn | −CN¥22.66bn | −CN¥15.64bn | −CN¥4.50bn | −CN¥5.04bn | −CN¥11.08bn | −CN¥9.60bn | −CN¥4.95bn | −CN¥2.60bn |
| Net income | −CN¥14.55bn | −CN¥22.66bn | −CN¥21.15bn | −CN¥14.56bn | −CN¥10.57bn | −CN¥5.61bn | −CN¥11.41bn | −CN¥9.66bn | −CN¥4.98bn | −CN¥2.54bn |
| Diluted earnings per share | -5.80 | -10.83 | -12.01 | -8.84 | -6.58 | -3.95 | -11.00 | -9.25 | -4.75 | -1.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥124.48bn | CN¥107.60bn | CN¥117.38bn | CN¥96.26bn | CN¥82.88bn | CN¥54.64bn | CN¥14.58bn | CN¥18.84bn | CN¥10.47bn | CN¥1.77bn |
| Cash and short-term investments | CN¥45.81bn | CN¥22.09bn | CN¥49.75bn | CN¥39.06bn | CN¥52.39bn | CN¥42.38bn | CN¥973.8m | CN¥8.29bn | CN¥7.51bn | CN¥581.3m |
| Total liabilities | CN¥111.78bn | CN¥94.10bn | CN¥87.79bn | CN¥68.62bn | CN¥48.10bn | CN¥27.47bn | CN¥20.86bn | CN¥12.02bn | CN¥22.06bn | CN¥5.69bn |
| Debt | CN¥26.25bn | CN¥33.82bn | CN¥34.73bn | CN¥23.71bn | CN¥20.10bn | CN¥9.52bn | CN¥10.70bn | CN¥3.24bn | CN¥726.2m | CN¥57.1m |
| Shareholders' equity | CN¥4.16bn | CN¥5.97bn | CN¥25.55bn | CN¥23.87bn | CN¥34.71bn | CN¥27.17bn | −CN¥6.30bn | CN¥6.84bn | −CN¥11.60bn | −CN¥3.90bn |
| Shares outstanding | 2,511m | 2,092m | 1,761m | 1,647m | 1,607m | 1,421m | 1,037m | 1,045m | 1,050m | 2,497m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥2.99bn | −CN¥7.85bn | −CN¥1.38bn | −CN¥3.87bn | CN¥1.97bn | CN¥1.95bn | −CN¥8.72bn | −CN¥7.91bn | −CN¥4.57bn | −CN¥2.20bn |
| Capital spending | −CN¥6.07bn | −CN¥9.14bn | −CN¥14.34bn | −CN¥6.97bn | −CN¥4.08bn | −CN¥1.13bn | −CN¥1.71bn | −CN¥2.64bn | −CN¥1.11bn | −CN¥654.5m |
| Free cash flow | −CN¥3.07bn | −CN¥16.99bn | −CN¥15.72bn | −CN¥10.84bn | −CN¥2.11bn | CN¥823.2m | −CN¥10.43bn | −CN¥10.56bn | −CN¥5.69bn | −CN¥2.86bn |
| Dividends paid | — | — | — | — | — | — | — | −CN¥2.87bn | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥32.17bn | CN¥25.53bn | CN¥34.17bn | CN¥21.79bn | CN¥19.01bn | CN¥12.03bn | CN¥19.70bn | CN¥18.67bn |
| Operating income | −CN¥663.7m | −CN¥308.8m | CN¥503.7m | −CN¥3.52bn | −CN¥4.85bn | −CN¥6.93bn | −CN¥6.03bn | −CN¥5.24bn |
| Net income | −CN¥529.8m | −CN¥496.0m | CN¥280.1m | −CN¥3.66bn | −CN¥5.14bn | −CN¥6.89bn | −CN¥7.13bn | −CN¥5.14bn |
| Diluted earnings per share | -0.21 | -0.20 | 0.11 | -1.46 | -2.05 | -2.74 | -3.41 | -2.46 |
| Cash from operations | — | — | — | — | −CN¥10.93bn | CN¥2.18bn | — | — |
| Capital spending | — | — | — | — | −CN¥2.96bn | −CN¥4.79bn | — | — |
| Free cash flow | — | — | — | — | −CN¥13.89bn | −CN¥2.61bn | — | — |
| Total assets | CN¥136.26bn | CN¥126.20bn | CN¥124.48bn | CN¥112.04bn | CN¥100.05bn | CN¥98.16bn | CN¥107.60bn | CN¥103.99bn |
| Cash and short-term investments | CN¥56.62bn | CN¥31.77bn | CN¥45.81bn | CN¥24.11bn | CN¥17.80bn | CN¥19.72bn | — | CN¥37.15bn |
| Debt | CN¥19.58bn | CN¥16.85bn | CN¥16.14bn | CN¥17.39bn | CN¥18.14bn | CN¥18.99bn | CN¥11.44bn | CN¥23.30bn |
| Shareholders' equity | CN¥4.07bn | CN¥4.34bn | CN¥4.16bn | CN¥3.67bn | −CN¥1.21bn | −CN¥365.9m | CN¥5.97bn | CN¥11.35bn |
Financial ratios
Data as of 10 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -16.8% | -33.3% | -40.7% | -31.7% | -12.4% | -31.0% |
| Net margin | -17.1% | -34.5% | -38.0% | -29.6% | -29.3% | -34.5% |
| Return on equity | -349.7% | -379.7% | -82.8% | -61.0% | -30.5% | -20.7% |
| Return on assets | -11.7% | -21.1% | -18.0% | -15.1% | -12.8% | -10.3% |
| Free cash flow yield | 97.5% | 16.7% | 198.9% | 51.0% | 101.7% | 58.5% |
| Revenue growth | 29.5% | 18.2% | 12.9% | 36.3% | 122.3% | 107.8% |
| Earnings growth | -35.8% | 7.1% | 45.2% | 37.7% | 88.4% | -50.8% |
| Current ratio | 0.98x | 0.99x | 1.22x | 1.29x | 2.18x | 3.31x |
| Debt to equity | 3.88x | 3.78x | 0.96x | 0.72x | 0.51x | 0.31x |
| Equity ratio | 3.3% | 5.5% | 21.8% | 24.8% | 41.9% | 49.7% |
| Interest coverage | -16.60x | -27.40x | -56.14x | -46.94x | -7.05x | -11.83x |
| R&D as a share of sales | 12.1% | 19.8% | 24.1% | 22.0% | 12.7% | 15.3% |
| Buybacks as a share of market value | -20.1% | -18.7% | -6.9% | -2.5% | -13.1% | -37.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.0% | 39.2% | — |
| Operating income | -3.0% | 23.2% | — |
| Net income | -0.0% | 21.0% | — |
Market value over time
28 Sept 2018 to 9 Sept 2026, in CNY
CN¥1.60bnCN¥9.24bn
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Jul 2015.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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