Revenue and profitability:
- Revenue: 8,907,547,000 CNY in Q4 2024; YoY change: +16.70%; QoQ change: 0.00%
- Gross Profit: 8,907,547,000 CNY; Gross Margin: 100.00%
- Operating Income: 7,778,421,500 CNY; Margin: 87.32%
- Net Income: 273,994,500 CNY; Net Margin: 3.08%; YoY change: -85.79%; QoQ change: 0.00%
- EPS: 0.19 CNY; EPS Diluted: 0.19 CNY; YoY EPS change: -85.50%
- Income Before Tax: 407,531,000 CNY; Pretax Margin: 4.58%
- Tax Expense: 133,536,499 CNY
- Weighted average shares: 1,481,051,351; Diluted: 1,469,813,000
Profitability and efficiency:
- Operating Income Ratio: 0.873; Net Income Ratio: 0.031; Gross Margin: 1.000; Pretax Margin: 0.046
- Return on Assets (ROA): 0.61%; Return on Equity (ROE): 1.31%; Return on Capital Employed (ROCE): 18.6%
- Debt to Equity: 0.34x; Debt Ratio: 0.157; Long-Term Debt to Capitalization: 24.8%
Cash flow and liquidity:
- Net cash provided by operating activities: 564,345,000 CNY
- Free Cash Flow: 475,680,000 CNY
- Cash from investing activities: -752,416,500 CNY (net)
- Net cash provided by financing activities: 180,354,500 CNY
- Capital expenditure: -88,665,000 CNY
- Operating cash flow to revenue ratio: 6.34%
- Cash and cash equivalents: 1,466,741,000 CNY
- Short-term investments: 11,318,637,000 CNY
- Net debt: 5,648,849,000 CNY
Balance sheet:
- Total assets: 45,284,579,000 CNY
- Total liabilities: 24,358,178,000 CNY
- Total stockholders’ equity: 20,926,401,000 CNY
- Total debt: 7,115,590,000 CNY
- Cash & equivalents plus short-term investments: substantial, but current assets reported at 1,466,741,000 CNY; current liabilities: 3,393,558,000 CNY; current ratio: 0.432x; quick ratio: 0.432x
- Long-term investments: 38,667,386,000 CNY; intangible assets: 618,719,000 CNY; PPE net: 797,551,000 CNY
Valuation and relative performance:
- Price-to-book: 0.783x; Price-to-sales: 1.84x; Price-to-earnings: 14.95x; Dividend yield: 0%
- The four-quarter data shows revenue growth in 2024 versus 2023, with a notable swing in non-operating charges limiting net income progression.