| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 539.6M | +4.6% |
| Gross Profit | CNY 402.9M | +11.2% |
| EBITDA | -CNY 33.1M | — |
| Net Income | -CNY 55.3M | — |
| Diluted EPS | — | — |
| Free Cash Flow | -CNY 33.7M | — |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 73.02% | 71.70% | 67.47% | 67.59% | 70.26% | 74.67% | 92% | 71% | |
| Operating Margin | −95.93% | −156.94% | −174.07% | −124.54% | −69.32% | −10.16% | 92% | 60% | |
| EBITDA Margin | −88.18% | −147.54% | −152.03% | −99.72% | −59.20% | −6.13% | 92% | 56% | |
| NOPAT Margin | −75.78% | −123.99% | −137.51% | −98.39% | −54.76% | −8.03% | 92% | 52% | |
| Net Margin | −94.73% | −156.87% | −172.44% | −121.63% | −67.20% | −10.26% | 92% | 57% | |
| FCF Margin | −31.13% | −134.33% | −92.12% | −49.10% | −18.94% | −6.24% | 92% | 52% | |
| FCFE Margin | −35.95% | −141.16% | −92.12% | −49.10% | −18.94% | −5.89% | 92% | 37% | |
| OCF Margin | −17.11% | −94.10% | −81.10% | −47.59% | −17.89% | −5.27% | 92% | 53% | |
| Gross Profitability | 11.79% | 15.98% | 23.94% | 34.93% | 40.94% | 49.11% | 92% | 77% | |
| Capex Intensity | 14.02% | 40.23% | 11.01% | 1.51% | 1.05% | 0.97% | 8% | 28% | |
| ▸Returns on Capital · 6 ratios | |||||||||
| ▸DuPont factors (ROE drivers) · 2 ratios | |||||||||
| ▸Earnings quality · 2 ratios | |||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||
| ▸Leverage · 8 ratios | |||||||||
| ▸Working capital · 8 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|
| Revenue | CNY 429.9M | CNY 507.9M | CNY 563.2M | CNY 537.4M | CNY 515.8M | CNY 539.6M |
| YoY % | +18.1% | +10.9% | -4.6% | -4.0% | +4.6% | |
| Cost of Revenue | CNY 116.0M | CNY 143.7M | CNY 183.2M | CNY 174.2M | CNY 153.4M | CNY 136.7M |
| YoY % | +23.9% | +27.5% | -4.9% | -11.9% | -10.9% | |
| Gross Profit | CNY 313.9M | CNY 364.1M | CNY 380.0M | CNY 363.2M | CNY 362.4M | CNY 402.9M |
| YoY % | +16.0% | +4.4% | -4.4% | -0.2% | +11.2% | |
| R&D Expense | CNY 263.9M | CNY 367.9M | CNY 421.9M | CNY 347.0M | CNY 232.3M | CNY 166.5M |
| YoY % | +39.4% | +14.7% | -17.7% | -33.1% | -28.3% | |
| Selling & Marketing Expense | CNY 168.6M | CNY 303.1M | CNY 370.3M | CNY 247.7M | CNY 190.9M | CNY 165.2M |
| YoY % | +79.8% | +22.2% | -33.1% | -22.9% | -13.5% | |
| SG&A Expense | CNY 293.8M | CNY 490.3M | CNY 568.3M | CNY 437.8M | CNY 261.6M | CNY 126.1M |
| YoY % | +66.9% | +15.9% | -23.0% | -40.2% | -51.8% | |
| Operating Income | -CNY 412.4M | -CNY 797.1M | -CNY 980.4M | -CNY 669.3M | -CNY 357.6M | -CNY 54.8M |
| Interest Expense | CNY 667,000 | CNY 1.5M | — | — | — | — |
| YoY % | +130.3% | |||||
| Interest & Investment Income | CNY 6.1M | CNY 3.5M | CNY 9.4M | CNY 18.0M | CNY 12.2M | CNY 8.1M |
| YoY % | -43.0% | +170.6% | +91.9% | -32.0% | -34.1% | |
| Equity Method Income | -CNY 275,000 | -CNY 483,000 | -CNY 294,000 | -CNY 361,000 | -CNY 93,000 | CNY 0 |
| Impairment of Real Estate | — | — | CNY 0 | CNY 0 | CNY 35.1M | CNY 0 |
| YoY % | -100.0% | |||||
| Pretax Income | -CNY 407.2M | -CNY 795.8M | -CNY 969.2M | -CNY 651.3M | -CNY 340.7M | -CNY 53.8M |
| Income Tax | CNY 0 | CNY 899,000 | CNY 2.0M | CNY 2.4M | CNY 5.9M | CNY 1.6M |
| YoY % | +120.8% | +20.3% | +146.4% | -73.6% | ||
| Net Income (incl. NCI) | -CNY 407.2M | -CNY 796.7M | -CNY 971.2M | -CNY 653.7M | -CNY 346.6M | -CNY 55.3M |
| Net Income | -CNY 407.2M | -CNY 796.7M | -CNY 971.2M | -CNY 653.7M | -CNY 346.6M | -CNY 55.3M |
| Net Income to Common | -CNY 471.9M | -CNY 796.7M | -CNY 971.2M | — | — | — |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
