| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 12.49B | +11.1% |
| Gross Profit | CNY 7.87B | +28.2% |
| EBITDA | CNY 4.25B | +66.3% |
| Net Income | CNY 4.46B | +42.8% |
| Diluted EPS | CNY 0.21 | +40.0% |
| Free Cash Flow | CNY 4.50B | +55.3% |
| DPS (FY2025) | $0.07derived |
| Trailing yield | 0.71% |
| Payout ratio | 32.0% |
| Growth streak | 1 yr |
| 5y DPS growth | — |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | $0.07 | +33.8% | derived (paid ÷ diluted shares) |
| FY20242024-12-31 | $0.05 | — | derived (paid ÷ diluted shares) |
| FY20232023-12-31 | $0.00 | — | derived (paid ÷ diluted shares) |
| FY20222022-12-31 |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 49.01% | 45.46% | 47.81% | 51.17% | 54.62% | 63.02% | 92% | 67% | |
| Operating Margin | −140.06% | −81.51% | −2.41% | 11.82% | 22.02% | 33.20% | 92% | 96% | |
| EBITDA Margin | −137.59% | −80.06% | −1.09% | 12.71% | 22.72% | 34.00% | 92% | 93% | |
| NOPAT Margin | −110.64% | −64.39% | −1.95% | 11.28% | 20.45% | 27.47% | 92% | 96% | |
| Net Margin | −134.47% | −78.47% | 6.12% | 26.40% | 27.79% | 35.70% | 92% | 96% | |
| FCF Margin | 20.21% | −5.47% | −1.50% | 25.71% | 25.76% | 36.01% | 92% | 96% | |
| FCFF Margin | — | — | −1.50% | 25.71% | 25.76% | — | — | — | |
| OCF Margin | 22.27% | −4.54% | −0.23% | 26.90% | 26.43% | 37.05% | 92% | 94% | |
| Gross Profitability | 5.03% | 6.15% | 8.77% | 10.97% | 14.87% | 17.76% | 92% | 31% | |
| Capex Intensity | 2.06% | 0.93% | 1.27% | 1.19% | 0.67% | 1.04% | 42% | 35% | |
| ▸Returns on Capital · 3 ratios | |||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||
| ▸Earnings quality · 6 ratios | |||||||||
| ▸Liquidity & coverage · 5 ratios | |||||||||
| ▸Leverage · 2 ratios | |||||||||
| ▸Working capital · 5 ratios | |||||||||
| ▸Capital allocation · 5 ratios | |||||||||
| ▸Per share · 3 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
The five drivers multiply to 11.4% vs reported ROE 11.4%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|
| Revenue | CNY 2.58B | CNY 4.66B | CNY 6.73B | CNY 8.44B | CNY 11.24B | CNY 12.49B |
| YoY % | +80.4% | +44.6% | +25.3% | +33.2% | +11.1% | |
| Cost of Revenue | CNY 1.32B | CNY 2.54B | CNY 3.51B | CNY 4.12B | CNY 5.10B | CNY 4.62B |
| YoY % | +93.0% | +38.4% | +17.2% | +23.8% | -9.4% | |
| R&D Expense | CNY 413.4M | CNY 729.7M | CNY 914.2M | CNY 946.6M | CNY 880.0M | CNY 874.4M |
| YoY % | +76.5% | +25.3% | +3.6% | -7.0% | -0.6% | |
| Selling & Marketing Expense | CNY 454.3M | CNY 837.3M | CNY 902.3M | CNY 1.24B | CNY 1.60B | CNY 1.75B |
| YoY % | +84.3% | +7.8% | +37.3% | +28.9% | +9.5% | |
| SG&A Expense | CNY 3.94B | CNY 4.27B | CNY 1.42B | CNY 937.7M | CNY 913.8M | CNY 709.8M |
| YoY % | +8.4% | -66.8% | -33.9% | -2.6% | -22.3% | |
| Total Operating Expenses | CNY 6.22B | CNY 8.48B | CNY 6.94B | CNY 7.48B | CNY 8.79B | CNY 8.40B |
| YoY % | +36.3% | -18.1% | +7.7% | +17.5% | -4.5% | |
| Operating Income | -CNY 3.61B | -CNY 3.80B | -CNY 162.0M | CNY 997.4M | CNY 2.47B | CNY 4.15B |
| YoY % | +148.1% | +67.5% | ||||
| Interest Expense | — | — | CNY 175,000 | CNY 0 | CNY 0 | — |
| YoY % | -100.0% | |||||
| Other Non-Operating Income | -CNY 5.6M | CNY 7.1M | CNY 230.6M | CNY 130.3M | CNY 128.2M | CNY 109.2M |
| YoY % | +3163.5% | -43.5% | -1.6% | -14.8% | ||
| Equity Method Income | -CNY 11.1M | -CNY 11.3M | -CNY 1.2M | -CNY 2.1M | -CNY 2.9M | -CNY 14.8M |
| Gains on Sale of Real Estate | -CNY 1.4M | -CNY 283,000 | CNY 483,000 | -CNY 803,000 | -CNY 36,000 | -CNY 552,000 |
| Impairment of Real Estate | CNY 22.0M | CNY 0 | CNY 0 | CNY 0 | CNY 0 | CNY 0 |
| YoY % | -100.0% | |||||
| Pretax Income | -CNY 3.45B | -CNY 3.64B | CNY 507.9M | CNY 2.33B | CNY 3.36B | CNY 5.39B |
| YoY % | +359.5% | +44.1% | +60.2% | |||
| Income Tax | CNY 19.3M | CNY 14.2M | CNY 96.0M | CNY 106.8M | CNY 239.4M | CNY 929.2M |
| YoY % | -26.6% | +576.7% | +11.2% | +124.2% | +288.1% | |
| Income from Discontinued Operations | CNY 452,000 | CNY 0 | CNY 0 | — | — | — |
| YoY % | -100.0% | |||||
| Net Income (incl. NCI) | -CNY 3.47B | -CNY 3.65B | CNY 411.9M | CNY 2.23B | CNY 3.12B | CNY 4.46B |
| YoY % | +440.7% | +40.2% | +42.8% | |||
| Minority Interest (P&L) | -CNY 8,000 | -CNY 80,000 | CNY 539,000 | -CNY 1.3M | -CNY 3.5M | -CNY 27.5M |
| Net Income | -CNY 3.47B | -CNY 3.65B | CNY 411.9M | CNY 2.23B | CNY 3.12B | CNY 4.46B |
| YoY % | +440.7% | +40.2% | +42.8% | |||
| Net Income to Common | -CNY 3.59B | -CNY 4.17B | CNY 406.8M | CNY 2.21B | CNY 3.07B | CNY 4.41B |
| YoY % | +444.0% | +38.7% | +43.6% | |||
| EPS (Basic) | -CNY 1.05 | -CNY 0.31 | CNY 0.02 | CNY 0.10 | CNY 0.15 | CNY 0.21 |
| YoY % | +400.0% | +50.0% | +40.0% | |||
| EPS (Diluted) | -CNY 1.05 | -CNY 0.31 | CNY 0.02 | CNY 0.10 | CNY 0.15 | CNY 0.21 |
| YoY % | +400.0% | +50.0% | +40.0% | |||
| Weighted Avg Shares (Basic) | 3.42B | 13.45B | 21.52B | 21.11B | 20.82B | 20.84B |
| YoY % | +292.7% | +60.0% | -1.9% | -1.4% | +0.1% | |
| Weighted Avg Shares (Diluted) | 3.42B | 13.45B | 21.58B | 21.16B | 20.90B | 20.93B |
| YoY % | +292.7% | +60.5% | -1.9% | -1.2% | +0.1% |
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.
| $0.00 |
| — |
| derived (paid ÷ diluted shares) |
| Ex-date | Amount | Pay date | Freq | Source |
|---|---|---|---|---|
| 2026-07-07 | $0.0800 | — | semi-annual | licensed |
| 2026-04-08 | $0.0840 | — | semi-annual | licensed |
| 2025-10-10 | $0.0960 | 2025-10-27 | sa | licensed |
| 2025-04-07 | $0.0960 | 2025-04-17 | sa | licensed |
| 2024-04-04 | $0.1440 | — | semi-annual | licensed |
