$17.06
+0.40 (+2.40%)
USD · as of 2026-08-21 · marketstack
| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 30.35B | +13.1% |
| Gross Profit | CNY 11.11B | +26.7% |
| EBITDA | CNY 3.15B | +220.6% |
| Net Income | CNY 1.19B | — |
| Diluted EPS | CNY 2.74 | — |
| Free Cash Flow | CNY 6.63B | +19.5% |
Bars are the value as filed for every stored fiscal year (oldest → newest, the latest bar solid); a year the store has no value for is left EMPTY. Free cash flow is operating cash flow less capital expenditures for the same year — the only figure here computed from two lines, and a year missing either one is a gap. The 3y/5y/10y CAGRs are the analytics core’s own (positive-base only); no rate is recomputed on this strip, and no rate is shown for a series the core doesn’t publish one for. Diluted EPS is drawn on ONE share basis: as-filed per-share figures from before a split are stated on the old basis, so where the implied share count breaks (net income ÷ EPS, ±1.45× band — the same acceptance band the API’s own classifier uses) the earlier bars are left undrawn and any CAGR horizon reaching past the break is suppressed rather than shown as a rate across two different bases.
Every bar is a figure as filed. Anything a filed line doesn’t explain is drawn as a residual, never absorbed into a neighbouring step.
This filer skips: pretax income.
Left out as double-counted: interest expense — still in the statements grid below.
Reconciliation.
| Step | Applied | Running level | % of revenue | 2024 |
|---|---|---|---|---|
| Revenue · reported | CNY 30.35B | CNY 30.35B | 100.0% | CNY 26.83B |
| Cost of revenue | -CNY 19.23B | CNY 11.11B | −63.4% | CNY 18.06B |
| Gross profit · reported | CNY 11.11B | CNY 11.11B | 36.6% | CNY 8.77B |
| R&D | -CNY 3.53B | CNY 7.58B | −11.6% | CNY 3.69B |
| Selling & marketing | -CNY 4.39B | CNY 3.19B | −14.5% | CNY 4.40B |
| SG&A | -CNY 2.06B | CNY 1.12B | −6.8% | CNY 2.03B |
| Operating income · reported | CNY 1.12B | CNY 1.12B | 3.7% | -CNY 1.34B |
| Other non-operating | CNY 83.6M | CNY 1.21B | 0.3% | CNY 56.2M |
| Income tax | -CNY 17.1M | CNY 1.19B | −0.1% | CNY 36.5M |
| Minority interest | -CNY 2.6M | CNY 1.19B | −0.0% | CNY 16.9M |
| Other (residual) · residual | CNY 5.2M | CNY 1.19B | 0.0% | — |
| Net income · reported | CNY 1.19B | CNY 1.19B | 3.9% | -CNY 1.35B |
Filed cash-flow lines, summed over the years below.
The remainder is not free cash flow — it absorbs securities, debt movement, other financing and FX.
Partial legs understate: Acquisitions 8/10y, Buybacks 4/10y.
| Fiscal year | Operating Cash Flow | Capex | Acquisitions | Dividends | Buybacks | Debt issued | Debt repaid |
|---|---|---|---|---|---|---|---|
| 2016 | -CNY 199.0M | CNY 42.2M | CNY 27.3M | — | — | — | — |
| 2017 | CNY 464.6M | CNY 144.9M | — | — | CNY 49.1M | — | — |
| 2018 | CNY 737.3M | CNY 293.6M | CNY 135.8M | — | — | — | — |
| 2019 | CNY 194.6M | CNY 296.0M | CNY 719.9M | — | — | — | — |
| 2020 | CNY 753.1M | CNY 602.1M | CNY 498.9M | — | — | — | — |
| 2021 | -CNY 2.65B | CNY 965.4M | CNY 522.0M | — | — | — | — |
| 2022 | -CNY 3.91B | CNY 760.4M | CNY 1.18B | — | CNY 347.6M | — | — |
| 2023 | CNY 266.6M | CNY 181.9M | CNY 70.0M | — | — | — | — |
| 2024 | CNY 6.01B | CNY 465.4M | — | — | CNY 117.5M | — | — |
| 2025 | CNY 7.15B | CNY 512.9M | -CNY 27.4M | — | CNY 822.7M | — | — |
Blank = not reported that year.
None of the three composites is computable for this filer — each needs two consecutive fiscal years of specific lines (COGS, PP&E, receivables), which many financials and asset-light names legitimately never tag. The trend below is what the store does serve.
| Quality trend | 2025 | Δ vs 2020 | Trend · 11y | vs own | vs sector |
|---|---|---|---|---|---|
| Gross Margin | 36.6% | +13.0pp | p95 | p30 | |
| Operating Margin | 3.7% | +29.9pp | p95 | p52 | |
| Net Margin | 3.9% | +29.0pp | p95 | p57 | |
| Return on Equity | 8.0% | +49.1pp | p93 | p56 |
Three scores, kept separate. They are not averaged into one “quality” number. They point in different directions (F is a 0–9 count, higher-better; Z is a distress distance, higher-safer; M is a manipulation screen, lower-cleaner) and were fitted on different samples for different questions — a blended figure would be ours, not theirs, and would hide exactly the disagreement that is worth reading.
Sector context. The percentile columns on the trend rows are the ones this payload serves: “vs own” ranks the latest value inside this company’s own served history, “vs sector” inside its sector pool. A blank sector cell means the pool was too thin to rank honestly (or the metric is a currency level, where a cross-currency rank would be meaningless). The three SCORES carry no sector percentile: the payload’s percentile block covers the served ratios only, so “is this Z good for Services?” is a question we cannot answer from what is served, and we don’t pretend to.
Latest vintage only. A 12-year F-Score / Z-Score strip is not drawn. The point-in-time factor store carries valuation, returns, margin, momentum and growth factors — not these composites — and recomputing them here from the annual columns would produce a series that disagrees with the headline above (different vintage of facts, different restatement handling). A score that disagrees with itself is a wrong number, so the history is omitted rather than approximated.
The nine named F-Score checks, the Merton distance-to-default / default probability, ROIIC and the growth-durability CAGRs live on FS · Financial Strength; the full ratio grid — every served ratio, with its own trend and both percentiles — is the Ratios section below.
| Line | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 523.3M | CNY 2.47B | CNY 4.13B | CNY 6.78B | CNY 12.00B | CNY 19.38B | CNY 21.90B | CNY 22.53B | CNY 26.83B | CNY 30.35B |
| YoY % | +371.7% | +67.3% | +64.2% | +77.0% | +61.5% | +13.0% | +2.9% | +19.1% | +13.1% | |
| Cost of Revenue | CNY 772.8M | CNY 1.92B | CNY 3.27B | CNY 5.59B | CNY 9.16B | CNY 15.34B | CNY 18.05B | CNY 17.09B | CNY 18.06B | CNY 19.23B |
| YoY % | +148.3% | +70.6% | +70.7% | +63.9% | +67.5% | +17.7% | -5.3% | +5.7% | +6.5% | |
| Gross Profit | -CNY 249.5M | CNY 549.2M | CNY 855.4M | CNY 1.19B | CNY 2.84B | CNY 4.04B | CNY 3.85B | CNY 5.44B | CNY 8.77B | CNY 11.11B |
| YoY % | +55.8% | +39.1% | +138.6% | +42.4% | -4.8% | +41.4% | +61.2% | +26.7% | ||
| R&D Expense | CNY 91.2M | CNY 280.1M | CNY 537.5M | CNY 894.4M | CNY 1.51B | CNY 2.84B | CNY 4.77B | CNY 4.47B | CNY 3.69B | CNY 3.53B |
| YoY % | +207.0% | +91.9% | +66.4% | +69.2% | +87.7% | +67.8% | -6.3% | -17.5% | -4.1% | |
| Selling & Marketing Expense | CNY 102.7M | CNY 232.5M | CNY 585.8M | CNY 1.20B | CNY 3.49B | CNY 5.79B | CNY 4.92B | CNY 3.92B | CNY 4.40B | CNY 4.39B |
| YoY % | +126.5% | +152.0% | +104.6% | +191.4% | +65.9% | -15.1% | -20.4% | +12.4% | -0.2% | |
| SG&A Expense | CNY 451.3M | CNY 260.9M | CNY 461.2M | CNY 592.5M | CNY 976.1M | CNY 1.84B | CNY 2.52B | CNY 2.12B | CNY 2.03B | CNY 2.06B |
| YoY % | -42.2% | +76.8% | +28.5% | +64.7% | +88.3% | +37.2% | -15.8% | -4.3% | +1.5% | |
| Total Operating Expenses | CNY 645.2M | CNY 773.5M | CNY 1.58B | CNY 2.69B | CNY 5.98B | CNY 10.47B | CNY 12.21B | CNY 10.51B | CNY 10.12B | CNY 9.99B |
| YoY % | +19.9% | +104.8% | +69.5% | +122.7% | +75.1% | +16.6% | -13.9% | -3.7% | -1.3% | |
| Operating Income | -CNY 894.7M | -CNY 224.3M | -CNY 729.0M | -CNY 1.50B | -CNY 3.14B | -CNY 6.43B | -CNY 8.36B | -CNY 5.06B | -CNY 1.34B | CNY 1.12B |
| Interest Expense | — | — | — | CNY 46.5M | CNY 108.5M | CNY 155.5M | CNY 250.9M | CNY 164.9M | CNY 89.2M | CNY 150.6M |
| YoY % | +133.2% | +43.2% | +61.4% | -34.3% | -45.9% | +68.8% | ||||
| Other Non-Operating Income | -CNY 3.7M | CNY 18.5M | CNY 189.9M | CNY 227.5M | CNY 140.3M | -CNY 284.4M | CNY 954.4M | CNY 331.2M | -CNY 56.2M | CNY 83.6M |
| YoY % | +925.7% | +19.8% | -38.3% | -65.3% | ||||||
| Pretax Income | -CNY 908.4M | -CNY 174.9M | -CNY 539.0M | — | — | — | — | — | — | — |
| Income Tax | CNY 3.1M | CNY 8.9M | CNY 26.0M | CNY 35.9M | CNY 53.4M | CNY 95.3M | CNY 104.1M | CNY 78.7M | -CNY 36.5M | CNY 17.1M |
| YoY % | +182.7% | +192.6% | +38.0% | +48.8% | +78.5% | +9.3% | -24.4% | |||
| Net Income (incl. NCI) | -CNY 911.5M | -CNY 183.8M | -CNY 565.0M | -CNY 1.30B | -CNY 3.05B | -CNY 6.81B | -CNY 7.51B | -CNY 4.81B | -CNY 1.36B | CNY 1.19B |
| Minority Interest (P&L) | -CNY 1.4M | — | -CNY 13.3M | -CNY 14.6M | -CNY 46.6M | -CNY 19.5M | -CNY 10.6M | CNY 10.6M | -CNY 16.9M | -CNY 2.6M |
| Net Income | — | — | — | — | — | — | — | -CNY 4.82B | -CNY 1.35B | CNY 1.19B |
| Net Income to Common | -CNY 1.19B | -CNY 571.5M | -CNY 616.3M | -CNY 1.29B | -CNY 3.01B | -CNY 6.79B | -CNY 7.50B | -CNY 4.82B | -CNY 1.35B | CNY 1.21B |
| EPS (Basic) | -CNY 20.42 | -CNY 8.17 | -CNY 2.64 | -CNY 3.99 | -CNY 8.71 | -CNY 17.87 | -CNY 18.99 | -CNY 11.67 | -CNY 3.23 | CNY 2.85 |
| EPS (Diluted) | -CNY 20.42 | -CNY 8.17 | -CNY 2.64 | -CNY 3.99 | -CNY 8.71 | -CNY 17.87 | -CNY 18.99 | -CNY 11.67 | -CNY 3.23 | CNY 2.74 |
| Weighted Avg Shares (Basic) | 58.0M | 69.9M | 233.0M | 323.2M | — | — | — | — | — | — |
| YoY % | +20.5% | +233.2% | +38.7% | |||||||
| Weighted Avg Shares (Diluted) | 58.0M | 69.9M | 233.0M | 323.2M | — | — | — | — | — | — |
| YoY % | +20.5% | +233.2% | +38.7% |
Sector is SIC-based, not GICS. A blank cell means the figure wasn't filed.