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10.22
-0.20%
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¥74.63bn
FY2018FY2025
Net income
−CN¥1.11bn
FY2018FY2025
Free cash flow
CN¥4.91bn
FY2018FY2025
Shareholders' equity
CN¥30.37bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥74.63bn | CN¥40.87bn | CN¥30.68bn | CN¥26.86bn | CN¥20.99bn | CN¥5.84bn | CN¥2.32bn | CN¥9.7m |
| Research and development | CN¥9.23bn | CN¥6.46bn | CN¥5.28bn | CN¥5.21bn | CN¥4.11bn | CN¥1.73bn | CN¥2.07bn | CN¥1.05bn |
| Operating income | −CN¥4.30bn | −CN¥6.66bn | −CN¥10.89bn | −CN¥8.71bn | −CN¥6.58bn | −CN¥4.29bn | −CN¥3.78bn | −CN¥1.69bn |
| Net income | −CN¥1.11bn | −CN¥5.79bn | −CN¥10.38bn | −CN¥9.14bn | −CN¥4.86bn | −CN¥2.73bn | −CN¥3.69bn | −CN¥1.40bn |
| Diluted earnings per share | -2.29 | -3.06 | -5.55 | -10.63 | -5.72 | -3.65 | -4.64 | -2.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥103.16bn | CN¥82.71bn | CN¥84.16bn | CN¥71.49bn | CN¥65.65bn | CN¥44.71bn | CN¥9.25bn | CN¥7.67bn |
| Cash and short-term investments | CN¥34.96bn | CN¥32.72bn | CN¥31.67bn | CN¥30.79bn | CN¥39.72bn | CN¥33.01bn | CN¥2.35bn | CN¥4.63bn |
| Total liabilities | CN¥72.79bn | CN¥51.43bn | CN¥47.83bn | CN¥34.58bn | CN¥23.50bn | CN¥10.28bn | CN¥16.08bn | CN¥9.86bn |
| Debt | CN¥19.55bn | CN¥14.62bn | CN¥15.39bn | CN¥11.07bn | CN¥3.24bn | CN¥2.29bn | CN¥2.62bn | CN¥1.55bn |
| Shareholders' equity | CN¥30.37bn | CN¥31.27bn | CN¥36.33bn | CN¥36.91bn | CN¥42.15bn | CN¥34.43bn | −CN¥6.83bn | −CN¥2.19bn |
| Shares outstanding | 484m | 1,891m | 1,868m | 860m | 850m | 748m | 796m | 478m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥8.26bn | −CN¥2.01bn | CN¥956.2m | −CN¥8.23bn | −CN¥1.09bn | −CN¥139.8m | −CN¥3.56bn | −CN¥1.57bn |
| Capital spending | −CN¥3.35bn | −CN¥2.43bn | −CN¥2.31bn | −CN¥4.68bn | −CN¥4.32bn | −CN¥1.36bn | −CN¥1.91bn | −CN¥1.01bn |
| Free cash flow | CN¥4.91bn | −CN¥4.44bn | −CN¥1.36bn | −CN¥12.91bn | −CN¥5.41bn | −CN¥1.50bn | −CN¥5.47bn | −CN¥2.58bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥19.69bn | CN¥12.95bn | CN¥21.95bn | CN¥20.38bn | CN¥18.27bn | CN¥15.81bn | CN¥16.11bn | CN¥10.10bn |
| Operating income | −CN¥1.32bn | −CN¥2.10bn | −CN¥911.9m | −CN¥751.0m | −CN¥934.6m | −CN¥1.04bn | −CN¥1.56bn | −CN¥1.85bn |
| Net income | −CN¥1.33bn | −CN¥1.77bn | CN¥377.9m | −CN¥380.9m | −CN¥477.8m | −CN¥664.0m | −CN¥1.33bn | −CN¥1.81bn |
| Diluted earnings per share | -2.79 | -3.71 | 0.78 | -0.79 | -0.99 | -1.37 | -0.70 | -0.96 |
| Total assets | CN¥101.62bn | CN¥100.44bn | CN¥103.16bn | CN¥98.31bn | CN¥92.43bn | CN¥88.89bn | CN¥82.71bn | CN¥76.43bn |
| Cash and short-term investments | CN¥31.70bn | CN¥37.12bn | CN¥34.96bn | CN¥34.70bn | CN¥33.87bn | CN¥32.51bn | CN¥32.72bn | CN¥24.16bn |
| Debt | CN¥34.14bn | CN¥34.79bn | CN¥14.57bn | CN¥29.65bn | CN¥25.46bn | CN¥12.35bn | CN¥13.81bn | CN¥13.33bn |
| Shareholders' equity | CN¥27.02bn | CN¥28.35bn | CN¥30.37bn | CN¥29.99bn | CN¥30.34bn | CN¥30.71bn | CN¥31.27bn | CN¥32.03bn |
Financial ratios
Data as of 7 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -5.8% | -16.3% | -35.5% | -32.4% | -31.3% | -73.5% |
| Net margin | -1.5% | -14.2% | -33.8% | -34.0% | -23.2% | -46.7% |
| Return on equity | -3.6% | -18.5% | -28.6% | -24.8% | -11.5% | -7.9% |
| Return on assets | -1.1% | -7.0% | -12.3% | -12.8% | -7.4% | -6.1% |
| Free cash flow yield | 219.1% | 2.0% | 16.0% | -37.7% | 34.6% | 14.9% |
| Revenue growth | 82.6% | 33.2% | 14.2% | 28.0% | 259.1% | 151.8% |
| Earnings growth | -80.9% | -44.2% | 13.5% | 88.0% | 78.0% | -26.0% |
| Current ratio | 1.09x | 1.25x | 1.51x | 1.81x | 2.71x | 5.06x |
| Debt to equity | 0.48x | 0.44x | 0.36x | 0.23x | 0.05x | 0.06x |
| Equity ratio | 29.4% | 37.8% | 43.2% | 51.6% | 64.2% | 77.0% |
| Interest coverage | -11.62x | -19.36x | -40.53x | -65.86x | -118.90x | -191.25x |
| R&D as a share of sales | 12.4% | 15.8% | 17.2% | 19.4% | 19.6% | 29.5% |
| Buybacks as a share of market value | 74.4% | -1.2% | -117.2% | -1.1% | -13.8% | 6.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 40.6% | 66.4% | — |
| Operating income | -21.0% | 0.0% | — |
| Net income | -50.5% | -16.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.5% | -17.7% | -20.7% | — |
| Net margin | -6.0% | -15.3% | -17.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | -60.6 | -26.4 |
| Price to sales | 0.9 | 3.7 |
Market value over time
31 Aug 2020 to 4 Sept 2026, in CNY
CN¥15.33bnCN¥5.24bn
Share price return
Finished calendar years
| 2025 | 2024 | |
|---|---|---|
| Return | 49% | 48% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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