| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 76.72B | +87.7% |
| Gross Profit | CNY 14.47B | +147.6% |
| EBITDA | -CNY 399.4M | — |
| Net Income | -CNY 1.14B | — |
| Diluted EPS | -CNY 0.60 | — |
| Free Cash Flow | CNY 5.10B | — |
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 8y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||
| Gross Margin | −24.33% | −24.05% | 4.55% | 12.50% | 11.50% | 1.47% | 14.30% | 18.86% | 94% | 23% | |
| Operating Margin | −17459.65% | −162.87% | −73.47% | −31.35% | −32.42% | −35.50% | −16.29% | −3.61% | 94% | 19% | |
| EBITDA Margin | −16871.64% | −157.13% | −67.94% | −28.49% | −28.76% | −29.38% | −11.13% | −0.52% | 94% | 19% | |
| NOPAT Margin | −13793.13% | −128.67% | −58.04% | −24.77% | −25.61% | −28.04% | −12.87% | −2.85% | 94% | 17% | |
| Net Margin | −14411.94% | −159.04% | −46.75% | −23.17% | −34.03% | −33.82% | −14.17% | −1.49% | 94% | 28% | |
| FCF Margin | −24140.26% | −232.39% | −16.18% | −16.17% | −46.58% | −3.72% | −10.37% | 6.65% | 94% | 68% | |
| OCF Margin | −16203.53% | −153.49% | −2.39% | −5.22% | −30.65% | 3.12% | −4.92% | 10.76% | 94% | 69% | |
| Gross Profitability | — | −6.03% | 0.59% | 3.99% | 4.32% | 0.54% | 7.07% | 14.03% | 93% | 17% | |
| Capex Intensity | 7936.73% | 78.91% | 13.79% | 10.96% | 15.92% | 6.83% | 5.45% | 4.11% | 6% | 72% | |
| ▸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 · 3 ratios | |||||||||||
| ▸Other · 1 ratios | |||||||||||
| Line | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 9.7M | CNY 2.32B | CNY 5.84B | CNY 20.99B | CNY 26.86B | CNY 30.68B | CNY 40.87B | CNY 76.72B |
| YoY % | +23815.3% | +151.8% | +259.1% | +28.0% | +14.2% | +33.2% | +87.7% | |
| Cost of Revenue | CNY 12.1M | CNY 2.88B | CNY 5.58B | CNY 18.37B | CNY 23.77B | CNY 30.22B | CNY 35.02B | CNY 62.25B |
| YoY % | +23761.4% | +93.7% | +229.2% | +29.4% | +27.2% | +15.9% | +77.7% | |
| Gross Profit | -CNY 2.4M | -CNY 558.1M | CNY 266.0M | CNY 2.62B | CNY 3.09B | CNY 451.2M | CNY 5.85B | CNY 14.47B |
| YoY % | +886.0% | +17.8% | -85.4% | +1195.7% | +147.6% | |||
| R&D Expense | CNY 1.05B | CNY 2.07B | CNY 1.73B | CNY 4.11B | CNY 5.21B | CNY 5.28B | CNY 6.46B | CNY 9.49B |
| YoY % | +96.9% | -16.6% | +138.4% | +26.8% | +1.2% | +22.4% | +47.0% | |
| Selling & Marketing Expense | CNY 317.1M | CNY 668.6M | CNY 1.74B | CNY 4.28B | CNY 5.03B | CNY 5.01B | CNY 5.53B | CNY 7.39B |
| YoY % | +110.8% | +159.9% | +146.1% | +17.6% | -0.3% | +10.3% | +33.6% | |
| SG&A Expense | CNY 642.5M | CNY 1.16B | CNY 2.92B | CNY 5.31B | CNY 6.69B | CNY 6.56B | CNY 6.87B | CNY 9.40B |
| YoY % | +81.2% | +150.8% | +81.7% | +26.1% | -1.9% | +4.8% | +36.8% | |
| Total Operating Expenses | CNY 1.69B | CNY 3.23B | CNY 4.65B | CNY 9.42B | CNY 11.90B | CNY 11.34B | CNY 12.50B | CNY 17.24B |
| YoY % | +91.0% | +43.6% | +102.7% | +26.4% | -4.7% | +10.3% | +37.9% | |
| Operating Income | -CNY 1.69B | -CNY 3.78B | -CNY 4.29B | -CNY 6.58B | -CNY 8.71B | -CNY 10.89B | -CNY 6.66B | -CNY 2.77B |
| Interest Expense | CNY 5.8M | CNY 32.0M | CNY 22.5M | CNY 55.3M | CNY 132.2M | CNY 268.7M | CNY 344.0M | CNY 379.9M |
| YoY % | +449.9% | -29.9% | +146.5% | +138.9% | +103.2% | +28.0% | +10.5% | |
| Interest & Investment Income | CNY 65.4M | CNY 88.8M | CNY 133.0M | CNY 743.0M | CNY 1.06B | CNY 1.26B | CNY 1.37B | CNY 1.16B |
| YoY % | +35.9% | +49.7% | +458.5% | +42.5% | +19.0% | +9.1% | -15.4% | |
| Other Non-Operating Income | -CNY 18.1M | CNY 4.4M | CNY 9.2M | CNY 70.3M | CNY 36.3M | CNY 41.9M | CNY 108.2M | CNY 44.8M |
| YoY % | +108.8% | +665.0% | -48.3% | +15.5% | +157.9% | -58.6% | ||
| Equity Method Income | — | — | CNY 0 | CNY 0 | CNY 4.1M | CNY 54.7M | -CNY 29.1M | CNY 30.9M |
| YoY % | +1229.6% | |||||||
| Gains on Sale of Real Estate | — | — | -CNY 6.2M | -CNY 36.5M | -CNY 15.7M | -CNY 4.9M | -CNY 21.8M | -CNY 26.0M |
| Impairment of Real Estate | — | — | CNY 63.3M | CNY 34.6M | CNY 30.8M | CNY 81.8M | CNY 137.5M | CNY 109.5M |
| YoY % | -45.3% | -10.8% | +165.2% | +68.1% | -20.4% | |||
| Pretax Income | -CNY 1.40B | -CNY 3.69B | -CNY 2.73B | -CNY 4.84B | -CNY 9.12B | -CNY 10.39B | -CNY 5.83B | -CNY 1.16B |
| Income Tax | CNY 0 | CNY 1,000 | CNY 1.2M | CNY 26.0M | CNY 24.7M | CNY 36.8M | -CNY 69.8M | CNY 13.6M |
| YoY % | +122200.0% | +2025.1% | -4.8% | +48.8% | ||||
| Net Income | -CNY 1.40B | -CNY 3.69B | -CNY 2.73B | -CNY 4.86B | -CNY 9.14B | -CNY 10.38B | -CNY 5.79B | -CNY 1.14B |
| Net Income to Common | -CNY 2.25B | -CNY 4.64B | -CNY 4.89B | -CNY 4.86B | -CNY 9.14B | -CNY 10.38B | -CNY 5.79B | -CNY 1.14B |
| EPS (Basic) | — | — | -CNY 6.48 | -CNY 2.96 | -CNY 5.34 | -CNY 5.96 | -CNY 3.06 | -CNY 0.60 |
| EPS (Diluted) | — | — | -CNY 6.48 | -CNY 2.96 | -CNY 5.34 | -CNY 5.96 | -CNY 3.06 | -CNY 0.60 |
| Weighted Avg Shares (Basic) | — | — | 754.3M | 1.64B | 1.71B | 1.74B | 1.89B | 1.90B |
| YoY % | +117.8% | +4.2% | +1.7% | +8.6% | +0.7% | |||
| Weighted Avg Shares (Diluted) | — | — | 754.3M | 1.64B | 1.71B | 1.74B | 1.89B | 1.90B |
| YoY % | +117.8% | +4.2% | +1.7% | +8.6% | +0.7% |
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.
