| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 87.49B | +33.1% |
| Gross Profit | CNY 11.92B | +83.5% |
| EBITDA | -CNY 6.89B | — |
| Net Income | -CNY 14.96B | — |
| Diluted EPS | -CNY 6.85 | — |
| Free Cash Flow | -CNY 3.07B | — |
| Ratio | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 10y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||
| Gross Margin | — | — | −5.17% | −15.32% | 11.52% | −50529.51% | −35865.15% | −31342.84% | 9.88% | 13.62% | 94% | 13% | |
| Operating Margin | — | — | −193.80% | −141.59% | −28.34% | −7765.50% | −12748.42% | −13551.37% | −33.28% | −16.05% | 94% | 12% | |
| EBITDA Margin | — | — | −184.23% | −128.82% | −21.90% | −4815.61% | −10423.55% | −11530.81% | −24.34% | −7.88% | 94% | 14% | |
| NOPAT Margin | — | — | −153.11% | −111.86% | −22.39% | −6134.75% | −10071.25% | −10705.58% | −26.29% | −12.68% | 94% | 10% | |
| Net Margin | — | — | −193.84% | −144.24% | −32.59% | −6883.70% | −11639.45% | −12467.88% | −33.94% | −17.10% | 94% | 12% | |
| FCF Margin | — | — | −213.20% | −133.27% | 5.06% | −3648.26% | −8834.56% | −9404.42% | −25.85% | −3.51% | 81% | 16% | |
| FCFE Margin | — | — | −215.62% | −166.64% | — | — | — | — | — | — | — | — | |
| OCF Margin | — | — | −159.80% | −111.46% | 12.00% | 3396.12% | −3151.11% | −826.38% | −11.94% | 3.42% | 69% | 31% | |
| Gross Profitability | — | — | −1.36% | −8.22% | 3.43% | 8.23% | 5.34% | 2.60% | 6.03% | 9.58% | 94% | 10% | |
| Capex Intensity | — | — | 53.40% | 21.81% | 6.94% | 7044.38% | 5683.45% | 8578.04% | 13.91% | 6.93% | 6% | 88% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||
| ▸DuPont factors (ROE drivers) · 2 ratios | |||||||||||||
| ▸Earnings quality · 2 ratios | |||||||||||||
| ▸Liquidity & coverage · 9 ratios | |||||||||||||
| ▸Leverage · 8 ratios | |||||||||||||
| ▸Working capital · 8 ratios | |||||||||||||
| ▸Capital allocation · 1 ratios | |||||||||||||
| ▸Per share · 6 ratios | |||||||||||||
| ▸Other · 1 ratios | |||||||||||||
| Line | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 0 | CNY 0 | CNY 4.95B | CNY 7.82B | CNY 16.26B | CNY 57.9M | CNY 122.7M | CNY 167.2M | CNY 65.73B | CNY 87.49B |
| YoY % | +58.0% | +107.8% | -99.6% | +111.9% | +36.3% | +39217.8% | +33.1% | |||
| Cost of Revenue | — | — | CNY 5.21B | CNY 9.02B | CNY 14.38B | CNY 29.31B | CNY 44.12B | CNY 52.57B | CNY 59.24B | CNY 75.57B |
| YoY % | +73.3% | +59.4% | +103.8% | +50.5% | +19.1% | +12.7% | +27.6% | |||
| Gross Profit | — | — | -CNY 255.9M | -CNY 1.20B | CNY 1.87B | CNY 6.82B | CNY 5.14B | CNY 3.05B | CNY 6.49B | CNY 11.92B |
| YoY % | +264.1% | -24.6% | -40.7% | +112.8% | +83.5% | |||||
| R&D Expense | CNY 1.47B | CNY 2.60B | CNY 4.00B | CNY 4.43B | CNY 2.49B | CNY 4.59B | CNY 10.84B | CNY 13.43B | CNY 13.04B | CNY 10.60B |
| YoY % | +77.6% | +53.6% | +10.8% | -43.8% | +84.6% | +136.0% | +23.9% | -2.9% | -18.7% | |
| Selling & Marketing Expense | — | CNY 16.5M | CNY 153.1M | — | — | — | — | — | — | — |
| YoY % | +829.9% | |||||||||
| SG&A Expense | CNY 1.14B | CNY 2.35B | CNY 5.34B | CNY 5.45B | CNY 3.93B | CNY 6.88B | CNY 10.54B | CNY 12.88B | CNY 15.74B | CNY 16.09B |
| YoY % | +106.7% | +127.2% | +2.1% | -27.9% | +74.9% | +53.2% | +22.3% | +22.2% | +2.2% | |
| Total Operating Expenses | CNY 2.60B | CNY 4.95B | CNY 9.34B | CNY 9.88B | CNY 6.48B | CNY 11.32B | CNY 20.78B | CNY 25.71B | CNY 28.37B | CNY 25.96B |
| YoY % | +90.3% | +88.5% | +5.8% | -34.4% | +74.6% | +83.6% | +23.7% | +10.3% | -8.5% | |
| Operating Income | -CNY 2.60B | -CNY 4.95B | -CNY 9.60B | -CNY 11.08B | -CNY 4.61B | -CNY 4.50B | -CNY 15.64B | -CNY 22.66B | -CNY 21.87B | -CNY 14.04B |
| Interest Expense | CNY 55,000 | CNY 18.1M | CNY 123.6M | CNY 370.5M | CNY 426.0M | CNY 637.4M | CNY 333.2M | CNY 403.5M | CNY 798.4M | CNY 885.2M |
| YoY % | +32780.0% | +583.7% | +199.7% | +15.0% | +49.6% | -47.7% | +21.1% | +97.8% | +10.9% | |
| Interest & Investment Income | CNY 27.6M | CNY 19.0M | CNY 133.4M | — | — | — | — | — | — | — |
| YoY % | -31.2% | +603.1% | ||||||||
| Other Non-Operating Income | CNY 3.4M | -CNY 58.7M | -CNY 21.3M | CNY 66.2M | -CNY 364.9M | CNY 184.7M | -CNY 283.0M | CNY 155.2M | -CNY 98.1M | CNY 451.0M |
| Equity Method Income | — | -CNY 5.4M | -CNY 9.7M | -CNY 64.5M | -CNY 66.0M | CNY 62.5M | CNY 377.8M | CNY 64.4M | -CNY 503.2M | -CNY 1.09B |
| YoY % | +504.3% | -83.0% | ||||||||
| Pretax Income | -CNY 2.57B | -CNY 5.01B | -CNY 9.62B | -CNY 11.29B | -CNY 5.30B | -CNY 3.97B | -CNY 14.38B | -CNY 20.46B | -CNY 22.42B | -CNY 14.82B |
| Income Tax | CNY 4.3M | CNY 7.9M | CNY 22.0M | CNY 7.9M | CNY 6.4M | CNY 42.3M | CNY 55.1M | CNY 260.8M | -CNY 22.8M | CNY 121.9M |
| YoY % | +83.3% | +178.8% | -64.2% | -19.3% | +563.7% | +30.4% | +373.4% | |||
| Net Income (incl. NCI) | -CNY 2.57B | -CNY 5.02B | -CNY 9.64B | -CNY 11.30B | -CNY 5.30B | -CNY 4.02B | -CNY 14.44B | -CNY 20.72B | -CNY 22.40B | -CNY 14.94B |
| Minority Interest (P&L) | -CNY 36.9M | -CNY 36.4M | -CNY 41.7M | -CNY 9.1M | -CNY 5.0M | -CNY 31.2M | -CNY 157.0M | CNY 124.1M | -CNY 91.5M | CNY 18.2M |
| Net Income to Common | -CNY 3.52B | -CNY 7.56B | -CNY 23.33B | -CNY 11.41B | -CNY 5.61B | -CNY 10.57B | -CNY 14.56B | -CNY 21.15B | -CNY 22.66B | -CNY 15.57B |
| EPS (Basic) | — | — | — | -CNY 11.08 | -CNY 4.74 | -CNY 6.72 | -CNY 8.89 | -CNY 12.44 | -CNY 11.03 | -CNY 6.85 |
| EPS (Diluted) | — | — | — | -CNY 11.08 | -CNY 4.74 | -CNY 6.72 | -CNY 8.89 | -CNY 12.44 | -CNY 11.03 | -CNY 6.85 |
| Weighted Avg Shares (Basic) | — | — | — | 1.03B | 1.18B | 1.57B | 1.64B | 1.70B | 2.05B | 2.27B |
| YoY % | +14.8% | +33.0% | +4.1% | +3.9% | +20.8% | +10.6% | ||||
| Weighted Avg Shares (Diluted) | — | — | — | 1.03B | 1.18B | 1.57B | 1.64B | 1.70B | 2.05B | 2.27B |
| YoY % | +14.8% | +33.0% | +4.1% | +3.9% | +20.8% | +10.6% |
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.
