$46.11
-0.32 (-0.69%)
USD · as of 2026-08-21 · marketstack
| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 62.41B | +17.1% |
| Gross Profit | CNY 50.29B | +16.1% |
| EBITDA | CNY 16.42B | +10.7% |
| Net Income | CNY 33.29B | +95.1% |
| Diluted EPS | — | — |
| Free Cash Flow | CNY 13.58B | −28.6% |
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.
Left out as double-counted: interest expense — still in the statements grid below.
Reconciliation.
| Step | Applied | Running level | % of revenue | 2024 |
|---|---|---|---|---|
| Revenue · reported | CNY 62.41B | CNY 62.41B | 100.0% | CNY 53.29B |
| Cost of revenue | -CNY 12.12B | CNY 50.29B | −19.4% | CNY 9.99B |
| Gross profit · reported | CNY 50.29B | CNY 50.29B | 80.6% | CNY 43.30B |
| R&D | -CNY 15.14B | CNY 35.15B | −24.3% | CNY 13.14B |
| Selling & marketing | -CNY 14.90B | CNY 20.25B | −23.9% | CNY 11.90B |
| SG&A | -CNY 4.47B | CNY 15.77B | −7.2% | CNY 4.09B |
| Operating income · reported | CNY 15.77B | CNY 15.77B | 25.3% | CNY 14.18B |
| Other non-operating | CNY 21.32B | CNY 37.09B | 34.2% | CNY 2.22B |
| Other (residual) · residual | CNY 1.75B | CNY 38.85B | 2.8% | — |
| Pretax income · reported | CNY 38.85B | CNY 38.85B | 62.2% | CNY 17.00B |
| Income tax | -CNY 5.82B | CNY 33.03B | −9.3% | CNY 2.60B |
| Other (residual) · residual | CNY 261.0M | CNY 33.29B | 0.4% | — |
| Net income · reported | CNY 33.29B | CNY 33.29B | 53.3% | CNY 17.07B |
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: Dividends 1/11y, Buybacks 4/11y, Stock issued 2/11y.
| Fiscal year | Operating Cash Flow | Capex | Acquisitions | Dividends | Buybacks | Debt issued | Debt repaid |
|---|---|---|---|---|---|---|---|
| 2015 | CNY 3.05B | CNY 638.1M | -CNY 4.11B | — | CNY 872.3M | — | — |
| 2016 | CNY 5.27B | CNY 683.0M | CNY 9.16B | — | — | CNY 2.55B | — |
| 2017 | CNY 7.07B | CNY 471.0M | CNY 309.0M | — | — | CNY 6.20B | — |
| 2018 | CNY 7.12B | CNY 673.0M | -CNY 1.0M | — | — | CNY 2.97B | — |
| 2019 | CNY 7.33B | CNY 823.0M | CNY 212.0M | — | — | CNY 5.15B | — |
| 2020 | -CNY 3.82B | CNY 532.0M | CNY 958.0M | — | — | CNY 14.19B | — |
| 2021 | CNY 2.48B | CNY 570.0M | CNY 42.0M | — | — | CNY 15.0M | — |
| 2022 | CNY 2.64B | CNY 497.0M | CNY 5.0M | — | — | CNY 9.81B | — |
| 2023 | CNY 22.00B | CNY 606.0M | CNY 0 | — | CNY 1.62B | CNY 11.91B | — |
| 2024 | CNY 19.63B | CNY 591.0M | -CNY 1.22B | — | CNY 2.17B | CNY 44.0M | — |
| 2025 | CNY 14.38B | CNY 797.0M | CNY 753.0M | CNY 1.42B | CNY 4.40B | CNY 22.0M | — |
Blank = not reported that year.
| DPS (FY2025) | CNY 2.04derived |
| Trailing yield | — |
| Payout ratio | 4.3% |
| Growth streak | 0 yrs |
| 5y DPS growth | — |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | CNY 2.04 | — | derived (paid ÷ diluted shares) |
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 · 12y | vs own | vs sector |
|---|---|---|---|---|---|
| Gross Margin | 80.6% | +2.6pp | p71 | p86 | |
| Operating Margin | 25.3% | +33.0pp | p79 | p91 | |
| Net Margin | 53.3% | +71.1pp | p96 | p98 | |
| Return on Invested Capital | 11.3% | +12.3pp | p95 | p64 | |
| Return on Equity | 21.3% | +24.5pp | p95 | p78 |
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.
Drivers multiply to 20.4% vs reported ROE 21.3%.
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 7.77B | CNY 11.50B | CNY 19.79B | CNY 26.98B | CNY 30.96B | CNY 35.67B | CNY 18.32B | CNY 20.02B | CNY 20.04B | CNY 44.51B | CNY 53.29B | CNY 62.41B |
| YoY % | +47.9% | +72.1% | +36.3% | +14.8% | +15.2% | -48.6% | +9.3% | +0.1% | +122.1% | +19.7% | +17.1% | |
| Cost of Revenue | CNY 2.10B | CNY 3.04B | CNY 4.73B | CNY 4.68B | CNY 6.32B | CNY 7.37B | CNY 4.03B | CNY 4.60B | CNY 4.51B | CNY 8.12B | CNY 9.99B | CNY 12.12B |
| YoY % | +44.9% | +55.4% | -1.1% | +35.2% | +16.6% | -45.3% | +14.1% | -1.8% | +79.9% | +23.0% | +21.3% | |
| Gross Profit | CNY 5.25B | CNY 7.85B | CNY 14.52B | CNY 22.12B | CNY 24.64B | CNY 28.29B | CNY 14.29B | CNY 15.43B | CNY 15.53B | CNY 36.39B | CNY 43.30B | CNY 50.29B |
| YoY % | +49.7% | +84.8% | +52.4% | +11.4% | +14.8% | -49.5% | +8.0% | +0.7% | +134.4% | +19.0% | +16.1% | |
| R&D Expense | CNY 2.32B | CNY 3.30B | CNY 7.69B | CNY 8.26B | CNY 9.62B | CNY 10.67B | CNY 7.67B | CNY 8.99B | CNY 8.34B | CNY 12.12B | CNY 13.14B | CNY 15.14B |
| YoY % | +42.0% | +133.2% | +7.4% | +16.5% | +10.9% | -28.1% | +17.3% | -7.2% | +45.3% | +8.4% | +15.2% | |
| Selling & Marketing Expense | CNY 2.21B | CNY 3.09B | CNY 5.86B | CNY 8.29B | CNY 9.60B | CNY 9.29B | CNY 4.41B | CNY 4.92B | CNY 4.25B | CNY 9.20B | CNY 11.90B | CNY 14.90B |
| YoY % | +39.5% | +89.8% | +41.5% | +15.7% | -3.1% | -52.6% | +11.7% | -13.7% | +116.5% | +29.3% | +25.2% | |
| SG&A Expense | CNY 861.6M | CNY 1.09B | CNY 2.52B | CNY 2.62B | CNY 2.82B | CNY 3.29B | CNY 3.64B | CNY 2.92B | CNY 2.85B | CNY 3.74B | CNY 4.09B | CNY 4.47B |
| YoY % | +26.3% | +131.4% | +4.1% | +7.6% | +16.6% | +10.6% | -19.6% | -2.6% | +31.5% | +9.2% | +9.5% | |
| Total Operating Expenses | CNY 5.40B | CNY 7.47B | CNY 16.07B | CNY 19.18B | CNY 22.04B | CNY 23.25B | CNY 15.71B | CNY 16.84B | CNY 15.44B | CNY 25.07B | CNY 29.13B | CNY 34.51B |
| YoY % | +38.5% | +115.0% | +19.3% | +14.9% | +5.5% | -32.5% | +7.2% | -8.3% | +62.4% | +16.2% | +18.5% | |
| Operating Income | -CNY 150.8M | CNY 381.0M | -CNY 1.55B | CNY 2.94B | CNY 2.60B | CNY 5.04B | -CNY 1.42B | -CNY 1.41B | CNY 88.0M | CNY 11.32B | CNY 14.18B | CNY 15.77B |
| YoY % | -11.5% | +93.5% | +12768.2% | +25.2% | +11.3% | |||||||
| Interest Expense | CNY 162.4M | CNY 302.4M | CNY 732.0M | CNY 1.29B | CNY 1.51B | CNY 1.68B | CNY 1.72B | CNY 1.56B | CNY 1.51B | CNY 2.07B | CNY 1.74B | CNY 849.0M |
| YoY % | +86.3% | +142.0% | +75.7% | +17.3% | +11.2% | +2.3% | -8.8% | -3.3% | +36.5% | -16.1% | -51.1% | |
| Interest & Investment Income | CNY 304.6M | CNY 445.8M | CNY 567.0M | CNY 988.0M | CNY 1.90B | CNY 2.09B | CNY 2.19B | CNY 2.13B | CNY 2.05B | CNY 2.09B | CNY 2.34B | CNY 2.60B |
| YoY % | +46.4% | +27.2% | +74.3% | +92.2% | +10.3% | +4.4% | -2.5% | -4.0% | +2.2% | +12.0% | +11.2% | |
| Other Non-Operating Income | CNY 43.8M | CNY 2.48B | -CNY 27.0M | CNY 879.0M | -CNY 1.07B | CNY 3.63B | -CNY 273.0M | CNY 373.0M | CNY 2.02B | -CNY 667.0M | CNY 2.22B | CNY 21.32B |
| YoY % | +5561.7% | +440.2% | +860.4% | |||||||||
| Equity Method Income | CNY 187.2M | -CNY 135.8M | CNY 602.0M | -CNY 65.0M | -CNY 32.0M | -CNY 347.0M | -CNY 1.69B | CNY 96.0M | -CNY 586.0M | CNY 1.07B | CNY 2.83B | CNY 353.0M |
| YoY % | +163.8% | -87.5% | ||||||||||
| Impairment of Real Estate | — | — | — | — | — | — | — | — | — | CNY 0 | CNY 0 | CNY 0 |
| Pretax Income | CNY 35.3M | CNY 3.01B | -CNY 1.74B | CNY 3.52B | CNY 1.92B | CNY 9.09B | -CNY 1.23B | -CNY 471.0M | CNY 2.63B | CNY 10.68B | CNY 17.00B | CNY 38.85B |
| YoY % | +8425.3% | -45.5% | +373.0% | +305.3% | +59.2% | +128.5% | ||||||
| Income Tax | CNY 130.8M | CNY 470.2M | CNY 482.0M | CNY 1.28B | CNY 793.0M | CNY 1.74B | CNY 355.0M | CNY 270.0M | CNY 682.0M | CNY 1.75B | CNY 2.60B | CNY 5.82B |
| YoY % | +259.4% | +2.5% | +166.6% | -38.3% | +119.7% | -79.6% | -23.9% | +152.6% | +156.6% | +48.8% | +123.3% | |
| Net Income (incl. NCI) | CNY 91.6M | CNY 2.40B | -CNY 1.62B | CNY 2.17B | CNY 1.10B | CNY 7.00B | -CNY 3.27B | -CNY 645.0M | CNY 1.37B | CNY 10.00B | CNY 17.23B | CNY 33.39B |
| YoY % | +2518.8% | -49.6% | +538.5% | +631.7% | +72.2% | +93.8% | ||||||
| Minority Interest (P&L) | -CNY 151.1M | -CNY 108.3M | -CNY 206.0M | CNY 19.0M | -CNY 16.0M | — | — | — | — | — | — | — |
| Net Income | CNY 242.7M | CNY 2.51B | -CNY 1.42B | CNY 2.15B | CNY 1.11B | CNY 7.01B | -CNY 3.25B | -CNY 550.0M | CNY 1.40B | CNY 9.92B | CNY 17.07B | CNY 33.29B |
| YoY % | +933.1% | -48.4% | +530.5% | +606.9% | +72.1% | +95.1% | ||||||
| Weighted Avg Shares (Basic) | 34.3M | 37.8M | 59.2M | 66.3M | 68.4M | 567.9M | 600.9M | 634.1M | 648.4M | 652.9M | 654.0M | 657.8M |
| YoY % | +10.2% | +56.5% | +12.1% | +3.2% | +730.2% | +5.8% | +5.5% | +2.3% | +0.7% | +0.2% | +0.6% | |
| Weighted Avg Shares (Diluted) | 38.2M | 47.4M | 59.2M | 71.8M | 70.9M | 642.0M | 600.9M | 634.1M | 657.1M | 671.1M | 688.7M | 698.4M |
| YoY % | +24.0% | +24.9% | +21.3% | -1.2% | +805.1% | -6.4% | +5.5% | +3.6% | +2.1% | +2.6% | +1.4% |
Sector is SIC-based, not GICS. A blank cell means the figure wasn't filed.