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| Key Metrics | Latest |
| Total Revenue | 5.984 B |
| Adjusted EBITDA | 661.7 M |
| EBITDA Margin | 11.1% |
| Net Profit Margin | 4.8% |
| Total Assets | 14.015 B |
| Total Debt | 997.4 M |
| Summary Financials | ||||||||||
| Fiscal Year Ending | Latest | Year-to-date Ending | ||||||||
| (in millions) | Dec-20 | Dec-21 | Dec-22 | Jan-24 | Dec-24 | 12 Months | Mar-24 | Mar-25 | ||
| Revenue | 6,094.90 | 7,431.28 | 7,861.41 | 9,406.81 | 6,838.39 | 5,983.97 | 2,646.10 | 1,791.67 | ||
| % Growth | 0.22 | 0.06 | 0.20 | (0.27) | (0.32) | |||||
| Adjusted EBITDA | 1,566.57 | 2,011.86 | 1,773.13 | 2,071.54 | 964.15 | 661.73 | 906.52 | 604.11 | ||
| % Margin | 0.26 | 0.27 | 0.23 | 0.22 | 0.14 | 0.11 | 0.34 | 0.34 | ||
| Adjusted EBIT | 1,361.36 | 1,796.51 | 1,560.95 | 1,846.63 | 744.04 | 438.43 | 854.69 | 549.08 | ||
| % Margin | 0.22 | 0.24 | 0.20 | 0.20 | 0.11 | 0.07 | 0.32 | 0.31 | ||
| Adjusted Net Income | 1,351.00 | 1,594.43 | 1,471.58 | 1,628.68 | 568.84 | 285.05 | 719.41 | 435.62 | ||
| % Margin | 0.22 | 0.21 | 0.19 | 0.17 | 0.08 | 0.05 | 0.27 | 0.24 | ||
| Adjusted Basic EPS | 0.85 | 0.96 | 0.87 | 0.96 | 0.34 | 0.17 | 0.43 | 0.26 | ||
| Income Statement | ||||||||||
| Original | ||||||||||
| CNY | Fiscal Year Ending | Latest | Year-to-date Ending | |||||||
| (in millions) | Dec-20 | Dec-21 | Dec-22 | Jan-24 | Dec-24 | Mar-25 | Mar-24 | Mar-25 | ||
| FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | LTM | YTD-1 | YTD | |||
| Revenue | 6,095 | 7,431 | 7,861 | 9,407 | 6,838 | 5,984 | 2,646 | 1,792 | ||
| % Growth | NA | 21.9% | 5.8% | 19.7% | -27.3% | -32.3% | ||||
| Cost of Revenue | (2,277) | (2,544) | (2,506) | (2,938) | (2,321) | (2,086) | (796) | (561) | ||
| Gross Profit | 3,818 | 4,887 | 5,356 | 6,468 | 4,518 | 3,898 | 1,850 | 1,230 | ||
| % Revenue | 62.6% | 65.8% | 68.1% | 68.8% | 66.1% | 65.1% | 69.9% | 68.7% | ||
| Research and Development | (140) | (150) | (158) | (179) | (149) | (139) | (31) | (22) | ||
| Selling and Marketing | (1,817) | (2,475) | (3,169) | (3,859) | (3,031) | (2,749) | (826) | (543) | ||
| General and Admin | (433) | (393) | (393) | (492) | (555) | (520) | (138) | (103) | ||
| Other Inc / (Exp) | 165 | 152 | (160) | 102 | 73 | 87 | 6 | 21 | ||
| Total Operating Exp | (2,225) | (2,866) | (3,880) | (4,428) | (3,663) | (3,320) | (989) | (647) | ||
| Operating Income | 1,593 | 2,021 | 1,475 | 2,040 | 855 | 578 | 861 | 583 | ||
| % Revenue | 26.1% | 27.2% | 18.8% | 21.7% | 12.5% | 9.7% | 32.5% | 32.6% | ||
| Interest Expense | 176 | 157 | 230 | 156 | 46 | 23 | 36 | 13 | ||
| Pre-tax Income | 1,769 | 2,178 | 1,705 | 2,196 | 901 | 601 | 896 | 597 | ||
| Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Provision for Taxes | (225) | (412) | (294) | (417) | (253) | (205) | (177) | (130) | ||
| Net Income to Company | 1,544 | 1,766 | 1,411 | 1,779 | 648 | 396 | 719 | 467 | ||
| % Margin | 25.3% | 23.8% | 18.0% | 18.9% | 9.5% | 6.6% | 27.2% | 26.0% | ||
| Minority Interest in Earnings | (20) | (12) | (25) | (32) | 5 | (15) | 8 | (12) | ||
| Net Income to Stockholders | 1,524 | 1,754 | 1,386 | 1,746 | 653 | 381 | 727 | 455 | ||
| Preferred Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Other Adj. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Net Income to Common | 1,524 | 1,754 | 1,386 | 1,746 | 653 | 381 | 727 | 455 | ||
| % Margin | 25.0% | 23.6% | 17.6% | 18.6% | 9.5% | 6.4% | 27.5% | 25.4% | ||
| As Reported | ||||||||||
| Basic EPS (Continuing Ops) | 0.96 | 1.06 | 0.82 | 1.03 | 0.39 | 0.23 | 0.43 | 0.27 | ||
| Diluted EPS (Continuing Ops) | 0.96 | 1.05 | 0.81 | 1.03 | 0.38 | 0.22 | 0.43 | 0.27 | ||
| WA Basic Shares Out. | 1,587.76 | 1,654.70 | 1,690.06 | 1,695.45 | 1,673.93 | 1,667.72 | 1,689.67 | 1,683.45 | ||
| WA Diluted Shares Out. | 1,587.76 | 1,670.46 | 1,710.93 | 1,695.45 | 1,717.98 | 1,711.77 | 1,689.67 | 1,683.45 | ||
| EBITDA, EBIT Reconciliation | ||||||||||
| EBT, Incl. Unusual Items | 1,769 | 2,178 | 1,705 | 2,196 | 901 | 601 | 896 | 597 | ||
| Addback: Net Interest Expense | (176) | (157) | (230) | (156) | (46) | (23) | (36) | (13) | ||
| Addback: Other Non Operating Expenses, Total | 29 | 8 | 4 | 9 | (4) | 10 | (7) | 7 | ||
| Addback: Depreciation & Amortization | 205 | 215 | 212 | 225 | 220 | 223 | 52 | 55 | ||
| Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Gain (Loss) On Sale Of Invest. | (259) | (69) | 178 | (51) | (5) | (15) | (3) | (13) | ||
| Addback: Gain (Loss) On Sale Of Assets | 0 | (0) | 4 | (0) | (14) | (44) | 0 | (30) | ||
| Addback: Asset Writedown | 1 | 1 | 9 | 1 | 4 | 3 | 3 | 1 | ||
| Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Addback: Other Unusual Items | (4) | (164) | (109) | (153) | (92) | (92) | 0 | 0 | ||
| Adjusted EBITDA | 1,567 | 2,012 | 1,773 | 2,072 | 964 | 662 | 907 | 604 | ||
| % Margin | 25.7% | 27.1% | 22.6% | 22.0% | 14.1% | 11.1% | 34.3% | 33.7% | ||
| Adjusted EBIT | 1,361 | 1,797 | 1,561 | 1,847 | 744 | 438 | 855 | 549 | ||
| % Margin | 22.3% | 24.2% | 19.9% | 19.6% | 10.9% | 7.3% | 32.3% | 30.6% | ||
| Adjusted Net Income Reconciliation | ||||||||||
| Net Income to Company | 1,544 | 1,766 | 1,411 | 1,779 | 648 | 396 | 719 | 467 | ||
| Addback: Unusual Items | (261) | (232) | 82 | (203) | (107) | (149) | 1 | (42) | ||
| Less: Tax Benefit of Unusual Items (26%) | 68 | 60 | (21) | 53 | 28 | 39 | (0) | 11 | ||
| Adjusted Net Income | 1,351 | 1,594 | 1,472 | 1,629 | 569 | 285 | 719 | 436 | ||
| % Margin | 22.2% | 21.5% | 18.7% | 17.3% | 8.3% | 4.8% | 27.2% | 24.3% | ||
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