| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | CNY 2.75B | −23.6% |
| Gross Profit | CNY 1.65B | −24.4% |
| EBITDA | -CNY 488.3M | — |
| Net Income | -CNY 192.9M | — |
| Diluted EPS | -CNY 0.80 | — |
| Free Cash Flow | -CNY 364.9M | — |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 56.04% | 52.51% | 50.16% | 54.68% | 60.60% | 59.94% | 75% | 61% | |
| Operating Margin | −44.59% | −46.99% | −44.49% | −25.54% | −13.37% | −18.45% | 75% | 16% | |
| EBITDA Margin | −43.14% | −46.27% | −43.79% | −24.94% | −12.76% | −17.76% | 75% | 13% | |
| NOPAT Margin | −35.22% | −37.13% | −35.15% | −20.17% | −10.56% | −14.58% | 75% | 13% | |
| Net Margin | −38.27% | −43.89% | −43.86% | −20.09% | −4.77% | −7.02% | 75% | 23% | |
| FCF Margin | −18.22% | −15.13% | −30.95% | −10.10% | −7.86% | −13.27% | 58% | 13% | |
| OCF Margin | −18.08% | −14.88% | −30.93% | −9.90% | −7.79% | −13.23% | 58% | 11% | |
| Gross Profitability | 20.15% | 17.65% | 23.62% | 33.79% | 38.04% | 31.74% | 58% | 54% | |
| Capex Intensity | 0.14% | 0.25% | 0.02% | 0.20% | 0.08% | 0.05% | 25% | 3% | |
| ▸Returns on Capital · 3 ratios | |||||||||
| ▸DuPont factors (ROE drivers) · 2 ratios | |||||||||
| ▸Earnings quality · 1 ratios | |||||||||
| ▸Liquidity & coverage · 3 ratios | |||||||||
| ▸Leverage · 2 ratios | |||||||||
| ▸Working capital · 5 ratios | |||||||||
| ▸Per share · 3 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|
| Revenue | CNY 1.35B | CNY 2.96B | CNY 3.60B | CNY 4.20B | CNY 3.60B | CNY 2.75B |
| YoY % | +118.9% | +21.8% | +16.5% | -14.3% | -23.6% | |
| Cost of Revenue | CNY 594.4M | CNY 1.41B | CNY 1.80B | CNY 1.90B | CNY 1.42B | CNY 1.10B |
| YoY % | +136.4% | +27.9% | +5.9% | -25.5% | -22.3% | |
| Gross Profit | CNY 757.8M | CNY 1.55B | CNY 1.81B | CNY 2.30B | CNY 2.18B | CNY 1.65B |
| YoY % | +105.1% | +16.4% | +27.0% | -5.0% | -24.4% | |
| R&D Expense | CNY 329.8M | CNY 619.6M | CNY 763.4M | CNY 901.5M | CNY 732.6M | CNY 525.0M |
| YoY % | +87.9% | +23.2% | +18.1% | -18.7% | -28.3% | |
| Selling & Marketing Expense | CNY 734.8M | CNY 1.63B | CNY 2.03B | CNY 2.05B | CNY 1.60B | CNY 1.25B |
| YoY % | +122.5% | +24.0% | +1.1% | -21.9% | -21.7% | |
| SG&A Expense | CNY 296.2M | CNY 690.3M | CNY 622.0M | CNY 418.5M | CNY 330.2M | CNY 251.4M |
| YoY % | +133.1% | -9.9% | -32.7% | -21.1% | -23.9% | |
| Total Operating Expenses | CNY 1.36B | CNY 2.94B | CNY 3.41B | CNY 3.37B | CNY 2.66B | CNY 2.16B |
| YoY % | +116.4% | +15.9% | -1.3% | -21.0% | -19.0% | |
| Operating Income | -CNY 602.9M | -CNY 1.39B | -CNY 1.60B | -CNY 1.07B | -CNY 481.1M | -CNY 507.3M |
| Other Non-Operating Income | CNY 11.7M | -CNY 4.4M | CNY 6.0M | CNY 49.2M | CNY 42.9M | CNY 30.6M |
| YoY % | +722.9% | -12.9% | -28.6% | |||
| Impairment of Real Estate | — | CNY 0 | CNY 0 | CNY 0 | CNY 0 | — |
| Pretax Income | -CNY 516.5M | -CNY 1.29B | -CNY 1.56B | -CNY 827.7M | -CNY 178.4M | -CNY 173.5M |
| Income Tax | CNY 1.1M | CNY 5.4M | CNY 14.2M | CNY 11.8M | -CNY 9.4M | CNY 21.7M |
| YoY % | +404.0% | +160.6% | -16.6% | |||
| Net Income (incl. NCI) | -CNY 517.5M | -CNY 1.30B | -CNY 1.58B | -CNY 839.5M | -CNY 169.0M | -CNY 195.2M |
| Minority Interest (P&L) | — | — | CNY 2.8M | CNY 4.1M | CNY 2.8M | -CNY 2.3M |
| YoY % | +49.3% | -31.1% | ||||
| Net Income | -CNY 517.5M | -CNY 1.30B | — | — | — | — |
| Net Income to Common | -CNY 1.20B | -CNY 1.47B | -CNY 1.58B | -CNY 843.6M | -CNY 171.8M | -CNY 192.9M |
| EPS (Basic) | -CNY 18.36 | -CNY 6.12 | -CNY 5.19 | -CNY 2.82 | -CNY 0.63 | -CNY 0.80 |
| EPS (Diluted) | -CNY 18.36 | -CNY 6.12 | -CNY 5.19 | -CNY 2.82 | -CNY 0.63 | -CNY 0.80 |
| Weighted Avg Shares (Basic) | 65.3M | 240.2M | 304.8M | 299.1M | 273.6M | 240.0M |
| YoY % | +267.9% | +26.9% | -1.9% | -8.5% | -12.3% | |
| Weighted Avg Shares (Diluted) | 65.3M | 240.2M | 304.8M | 299.1M | 273.6M | 240.0M |
| YoY % | +267.9% | +26.9% | -1.9% | -8.5% | -12.3% |
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.
