| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 1.31T | +13.0% |
| Gross Profit | CNY 210.03B | +14.2% |
| EBITDA | CNY 12.52B | −73.7% |
| Net Income | — | — |
| Diluted EPS | CNY 6.45 | −52.0% |
| Free Cash Flow | CNY 11.17B | −78.8% |
| DPS (FY2025) | CNY 3.49derived |
| Trailing yield | — |
| Payout ratio | — |
| Growth streak | 2 yrs |
| 5y DPS growth | — |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | CNY 3.49 | +29.7% | derived (paid ÷ diluted shares) |
| FY20242024-12-31 | CNY 2.69 | +26.3% | derived (paid ÷ diluted shares) |
| FY20232023-12-31 | CNY 2.13 | −48.3% | derived (paid ÷ diluted shares) |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | 11.63% | 12.20% | 13.69% | 14.02% | 14.28% | 14.63% | 14.63% | 13.56% | 14.06% | 14.72% | 15.87% | 16.04% | 96% | 17% | |
| Operating Margin | −5.05% | −2.96% | −0.48% | −0.23% | −0.57% | 1.56% | 1.65% | 0.44% | 1.89% | 2.40% | 3.34% | 0.21% | 46% | 28% | |
| EBITDA Margin | −3.61% | −1.57% | 0.84% | 0.93% | 0.64% | 2.57% | 2.47% | 1.09% | 2.58% | 3.16% | 4.11% | 0.96% | 46% | 22% | |
| NOPAT Margin | −3.99% | −2.34% | −0.38% | 0.00% | −0.45% | 1.35% | 1.61% | 0.34% | 1.32% | 1.76% | 2.90% | 0.19% | 46% | 27% | |
| Net Margin | −4.34% | −5.03% | −1.47% | — | — | — | — | — | — | — | — | — | — | — | |
| FCF Margin | — | — | — | — | — | — | — | — | 5.00% | 5.12% | 4.55% | 0.85% | 13% | 29% | |
| FCFF Margin | — | — | — | — | — | — | — | — | 5.14% | 5.31% | 4.77% | 1.05% | 13% | 13% | |
| FCFE Margin | — | — | — | — | — | — | — | — | 6.00% | 5.30% | — | — | — | — | |
| OCF Margin | — | 0.94% | 3.19% | 7.41% | 4.52% | 4.30% | 5.70% | 4.45% | 5.53% | 5.49% | 5.01% | 1.45% | 14% | 22% | |
| Gross Profitability | 20.11% | 25.97% | 22.05% | 27.61% | 31.53% | 32.50% | 25.84% | 25.99% | 24.71% | 25.39% | 26.33% | 30.21% | 79% | 40% | |
| Capex Intensity | — | — | — | — | — | — | — | — | 0.53% | 0.37% | 0.46% | 0.60% | 88% | 14% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 3 ratios | |||||||||||||||
| ▸Earnings quality · 5 ratios | |||||||||||||||
| ▸Liquidity & coverage · 9 ratios | |||||||||||||||
| ▸Leverage · 9 ratios | |||||||||||||||
| ▸Working capital · 8 ratios | |||||||||||||||
| ▸Capital allocation · 4 ratios | |||||||||||||||
| ▸Per share · 3 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 115.00B | CNY 181.04B | CNY 258.29B | CNY 362.33B | CNY 462.02B | CNY 576.89B | CNY 745.80B | CNY 951.59B | CNY 1.05T | CNY 1.08T | CNY 1.16T | CNY 1.31T |
| YoY % | +57.4% | +42.7% | +40.3% | +27.5% | +24.9% | +29.3% | +27.6% | +9.9% | +3.7% | +6.8% | +13.0% | |
| Cost of Revenue | CNY 101.63B | CNY 158.96B | CNY 222.93B | CNY 311.52B | CNY 396.07B | CNY 492.47B | CNY 636.69B | CNY 822.53B | CNY 899.16B | CNY 924.96B | CNY 974.95B | CNY 1.10T |
| YoY % | +56.4% | +40.2% | +39.7% | +27.1% | +24.3% | +29.3% | +29.2% | +9.3% | +2.9% | +5.4% | +12.7% | |
| R&D Expense | — | — | — | CNY 6.65B | CNY 12.14B | CNY 14.62B | CNY 16.15B | CNY 16.33B | CNY 16.89B | CNY 16.39B | CNY 17.03B | CNY 22.23B |
| YoY % | +82.6% | +20.4% | +10.5% | +1.1% | +3.4% | -3.0% | +3.9% | +30.5% | ||||
| Selling & Marketing Expense | CNY 4.01B | CNY 7.23B | CNY 10.16B | CNY 14.92B | CNY 19.24B | CNY 22.23B | CNY 27.16B | CNY 38.74B | CNY 37.77B | CNY 40.13B | CNY 47.95B | CNY 83.95B |
| YoY % | +80.4% | +40.5% | +46.9% | +28.9% | +15.6% | +22.1% | +42.7% | -2.5% | +6.3% | +19.5% | +75.1% | |
| SG&A Expense | CNY 5.26B | CNY 2.19B | CNY 3.44B | CNY 4.21B | CNY 5.16B | CNY 5.49B | CNY 6.41B | CNY 11.56B | CNY 11.05B | CNY 9.71B | CNY 8.89B | CNY 11.98B |
| YoY % | -58.4% | +57.0% | +22.7% | +22.4% | +6.4% | +16.7% | +80.4% | -4.4% | -12.2% | -8.5% | +34.8% | |
| Total Operating Expenses | CNY 120.80B | CNY 186.40B | CNY 259.54B | CNY 363.17B | CNY 464.64B | — | — | — | — | — | — | — |
| YoY % | +54.3% | +39.2% | +39.9% | +27.9% | ||||||||
| Operating Income | -CNY 5.80B | -CNY 5.36B | -CNY 1.25B | -CNY 835.5M | -CNY 2.62B | CNY 8.99B | CNY 12.34B | CNY 4.14B | CNY 19.72B | CNY 26.02B | CNY 38.74B | CNY 2.77B |
| YoY % | +37.2% | -66.5% | +376.3% | +32.0% | +48.8% | -92.8% | ||||||
| Interest Expense | CNY 28.8M | CNY 72.6M | CNY 618.6M | CNY 963.7M | CNY 854.5M | CNY 725.0M | CNY 1.13B | CNY 1.21B | CNY 2.11B | CNY 2.88B | CNY 2.90B | CNY 2.80B |
| YoY % | +151.8% | +752.1% | +55.8% | -11.3% | -15.2% | +55.2% | +7.8% | +73.6% | +36.8% | +0.5% | -3.2% | |
| Interest & Investment Income | CNY 637.6M | CNY 673.0M | CNY 1.23B | CNY 2.53B | CNY 2.12B | CNY 1.79B | CNY 2.75B | CNY 4.21B | CNY 5.74B | CNY 9.58B | CNY 9.35B | CNY 9.06B |
| YoY % | +5.5% | +82.3% | +106.3% | -16.3% | -15.7% | +54.1% | +53.0% | +36.3% | +66.8% | -2.3% | -3.2% | |
| Other Non-Operating Income | CNY 216.6M | -CNY 145.8M | CNY 1.54B | CNY 1.32B | CNY 95.2M | CNY 7.16B | CNY 35.31B | -CNY 590.0M | -CNY 1.55B | CNY 7.50B | CNY 13.37B | CNY 17.33B |
| YoY % | -14.7% | -92.8% | +7424.0% | +393.1% | +78.4% | +29.6% | ||||||
| Equity Method Income | — | -CNY 2.85B | -CNY 2.78B | -CNY 1.93B | -CNY 1.11B | -CNY 1.74B | CNY 4.29B | -CNY 4.92B | -CNY 2.19B | CNY 1.01B | CNY 2.33B | CNY 8.03B |
| YoY % | +130.4% | +244.9% | ||||||||||
| Pretax Income | -CNY 4.98B | -CNY 7.76B | -CNY 1.88B | CNY 121.0M | -CNY 2.37B | CNY 13.69B | CNY 50.82B | -CNY 2.58B | CNY 13.87B | CNY 31.65B | CNY 51.54B | CNY 25.32B |
| YoY % | +271.1% | +128.2% | +62.8% | -50.9% | ||||||||
| Income Tax | CNY 19.3M | -CNY 14.6M | CNY 166.4M | CNY 139.6M | CNY 426.9M | CNY 1.80B | CNY 1.48B | CNY 1.89B | CNY 4.18B | CNY 8.39B | CNY 6.88B | CNY 2.18B |
| YoY % | -16.1% | +205.8% | +322.4% | -17.8% | +27.3% | +121.3% | +101.0% | -18.1% | -68.3% | |||
| Income from Discontinued Operations | — | -CNY 1.38B | -CNY 1.37B | CNY 6.9M | — | — | — | — | — | — | — | — |
| Net Income (incl. NCI) | -CNY 5.00B | -CNY 9.12B | -CNY 3.41B | -CNY 11.7M | -CNY 2.80B | CNY 11.89B | CNY 49.34B | -CNY 4.47B | CNY 9.69B | CNY 23.26B | CNY 44.66B | CNY 23.14B |
| YoY % | +314.9% | +140.0% | +92.0% | -48.2% | ||||||||
| Minority Interest (P&L) | — | -CNY 9.6M | — | — | -CNY 311.4M | -CNY 297.0M | -CNY 75.0M | -CNY 923.0M | -CNY 697.0M | -CNY 910.0M | CNY 3.30B | CNY 3.51B |
| YoY % | +6.4% | |||||||||||
| Net Income | -CNY 5.00B | -CNY 9.11B | -CNY 3.81B | — | — | — | — | — | — | — | — | — |
| Net Income to Common | -CNY 12.95B | -CNY 9.11B | -CNY 3.81B | -CNY 152.3M | -CNY 2.49B | CNY 12.18B | CNY 49.41B | -CNY 3.56B | CNY 10.38B | CNY 24.17B | CNY 41.36B | CNY 19.63B |
| YoY % | +305.5% | +132.8% | +71.1% | -52.5% | ||||||||
| EPS (Basic) | -CNY 5.35 | -CNY 3.33 | -CNY 1.36 | -CNY 0.05 | -CNY 0.87 | CNY 4.18 | CNY 16.35 | -CNY 1.15 | CNY 3.32 | CNY 7.69 | CNY 13.83 | CNY 6.89 |
| YoY % | +291.1% | +131.6% | +79.8% | -50.2% | ||||||||
| EPS (Diluted) | -CNY 5.35 | -CNY 3.33 | -CNY 1.36 | -CNY 0.05 | -CNY 0.87 | CNY 4.11 | CNY 15.84 | -CNY 1.15 | CNY 3.21 | CNY 7.61 | CNY 13.43 | CNY 6.45 |
| YoY % | +285.4% | +137.1% | +76.5% | -52.0% | ||||||||
| Weighted Avg Shares (Basic) | 2.42B | 2.74B | 2.80B | 2.84B | 2.88B | 2.91B | 3.02B | 3.11B | 3.13B | 3.14B | 2.99B | 2.85B |
| YoY % | +13.0% | +2.5% | +1.4% | +1.2% | +1.2% | +3.7% | +2.8% | +0.6% | +0.6% | -4.9% | -4.8% | |
| Weighted Avg Shares (Diluted) | 2.42B | 2.74B | 2.80B | 2.91B | 2.88B | 2.97B | 3.11B | 3.11B | 3.18B | 3.17B | 3.08B | 2.98B |
| YoY % | +13.0% | +2.5% | +3.8% | -1.2% | +3.1% | +4.8% | -0.1% | +2.4% | -0.3% | -3.0% | -3.2% |
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.
| FY20222022-12-31 |
| CNY 4.11 |
| — |
| derived (paid ÷ diluted shares) |
| FY20212021-12-31 | CNY 0.00 | — | derived (paid ÷ diluted shares) |
| FY20202020-12-31 | CNY 0.00 | — | derived (paid ÷ diluted shares) |
