Capital Intensity
Score how much of a company is physical plant, inventory, and equipment, whether that base is being maintained, and whether the shares have tangible backing.
Guangdong Homa Appliances Co Ltd
Physical assets are 29.8% of total assets, a light footprint. Capex is 1.95x depreciation and free cash flow yield is still positive, which fits a physical base that is being replaced or expanded without consuming all of its cash.
Fixed-asset turnover is 5.94x. Compare it with other names in the same basket.
Physical asset ratio
29.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 3.11BpropertyPlantAndEquipmentNetInventoryCNY 1.55BinventoryTotal assetsCNY 15.64BtotalAssetsResult 29.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.94xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueCNY 18.49BtotalRevenueNet PP&ECNY 3.11BpropertyPlantAndEquipmentNetResult 5.94x
Revenue per dollar of the physical asset base.
Capex / D&A
1.95xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexCNY 789.05McapitalExpendituresD&ACNY 404.01MdepreciationAndAmortizationResult 1.95x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 4.24Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 15.64BtotalAssetsGoodwillCNY 6.19MgoodWillIntangiblesCNY 260.36MintangibleAssetsLiabilitiesCNY 10.77BtotalLiabTangible bookCNY 4.60BShares1,084,111,428commonStockSharesOutstandingResult CNY 4.24
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.93xPrice / tangible bookPrice / tangible book per sharePriceCNY 8.20Latest quoteTangible book / shareCNY 4.242025-12-31Result 1.93x
Price CNY 8.20.
Fixed-charge coverage
2.51xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 2.85BebitdaCapexCNY 789.05McapitalExpendituresInterestCNY 56.06MinterestExpenseShort-term debtCNY 764.56MshortLongTermDebtEBITDA − capexCNY 2.06BPrincipal due is the current portion of debt.Result 2.51x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
19.9%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowCNY 1.82BfreeCashFlowMarket capCNY 9.15BMarketCapitalizationResult 19.9%
Latest free cash flow divided by current market cap (CNY 9.15B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 2.44BoperatingIncomeTax expenseCNY 411.97MincomeTaxExpensePretax incomeCNY 2.55BincomeBeforeTaxTax rate16.2%EquityCNY 3.54BtotalStockholderEquityDebtCNY 881.19MlongTermDebt + shortLongTermDebtCashCNY 5.99BcashAndShortTermInvestmentsInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.78x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 21.1%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 1.23BpropertyPlantEquipmentInventoryCNY 788.54MinventoryTotal assetsCNY 9.55BtotalAssetsResult 21.1% | 6.36xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueCNY 7.80BtotalRevenueNet PP&ECNY 1.23BpropertyPlantEquipmentResult 6.36x | 0.74xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexCNY 172.22McapitalExpendituresD&ACNY 233.96MdepreciationAndAmortizationResult 0.74x | CNY 2.00Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 9.55BtotalAssetsGoodwillCNY 39.50KgoodWillIntangiblesCNY 196.96MintangibleAssetsLiabilitiesCNY 7.19BtotalLiabTangible bookCNY 2.16BShares1,080,991,823commonStockSharesOutstandingResult CNY 2.00 | -0.63xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-CNY 1.32BebitdaCapexCNY 172.22McapitalExpendituresInterestCNY 220.95MinterestExpenseShort-term debtCNY 2.16BshortLongTermDebtEBITDA − capex-CNY 1.49BPrincipal due is the current portion of debt.Result -0.63x | -CNY 296.92MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-CNY 124.70MtotalCashFromOperatingActivitiesCapexCNY 172.22McapitalExpendituresFree cash flow-CNY 296.92MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 296.92M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-CNY 1.75BoperatingIncomeTax expenseCNY 138.20MincomeTaxExpensePretax income-CNY 1.78BincomeBeforeTaxTax rate—EquityCNY 2.35BtotalStockholderEquityDebtCNY 3.28BshortLongTermDebtTotalCashCNY 2.72BcashAndShortTermInvestmentsInvested capitalCNY 2.91BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.42xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-CNY 1.75BoperatingIncomeNet PP&ECNY 1.23BpropertyPlantEquipmentResult -1.42x |
| 2019 | 20.7%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 1.06BpropertyPlantEquipmentInventoryCNY 754.94MinventoryTotal assetsCNY 8.78BtotalAssetsResult 20.7% | 6.95xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueCNY 7.39BtotalRevenueNet PP&ECNY 1.06BpropertyPlantEquipmentResult 6.95x | 0.55xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexCNY 134.96McapitalExpendituresD&ACNY 247.21MdepreciationAndAmortizationResult 0.55x | CNY 2.25Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 8.78BtotalAssetsGoodwillCNY 39.50KgoodWillIntangiblesCNY 160.85MintangibleAssetsLiabilitiesCNY 6.22BtotalLiabTangible bookCNY 2.40BShares1,065,771,080commonStockSharesOutstandingResult CNY 2.25 | 0.39xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 661.18MebitdaCapexCNY 134.96McapitalExpendituresInterestCNY 259.61MinterestExpenseShort-term debtCNY 1.10BshortTermDebtEBITDA − capexCNY 526.22MPrincipal due is short-term debt.Result 0.39x | CNY 1.05BFree cash flow · 2019-12-31Reported free cash flowOperating cash flowCNY 1.19BtotalCashFromOperatingActivitiesCapexCNY 134.96McapitalExpendituresFree cash flowCNY 1.05BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 1.05B | 4.0%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 137.71MoperatingIncomeTax expenseCNY 112.17MincomeTaxExpensePretax incomeCNY 154.36MincomeBeforeTaxTax rate40.0%EquityCNY 2.55BtotalStockholderEquityDebtCNY 2.58BshortLongTermDebtTotalCashCNY 3.07BcashAndShortTermInvestmentsInvested capitalCNY 2.07BThe effective tax rate was above 40% and was capped at 40%.Result 4.0% | 0.13xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeCNY 137.71MoperatingIncomeNet PP&ECNY 1.06BpropertyPlantEquipmentResult 0.13x |
| 2020 | 18.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 945.65MpropertyPlantEquipmentInventoryCNY 718.51MinventoryTotal assetsCNY 8.83BtotalAssetsResult 18.8% | 8.82xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueCNY 8.35BtotalRevenueNet PP&ECNY 945.65MpropertyPlantEquipmentResult 8.82x | 0.38xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexCNY 80.22McapitalExpendituresD&ACNY 212.59MdepreciationAndAmortizationResult 0.38x | CNY 1.59Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 8.83BtotalAssetsGoodwillCNY 39.50KgoodWillIntangiblesCNY 99.01MintangibleAssetsLiabilitiesCNY 7.01BtotalLiabTangible bookCNY 1.73BShares1,085,120,849commonStockSharesOutstandingResult CNY 1.59 | -0.15xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-CNY 49.03MebitdaCapexCNY 80.22McapitalExpendituresInterestCNY 176.27MinterestExpenseShort-term debtCNY 668.00MshortTermDebtEBITDA − capex-CNY 129.25MPrincipal due is short-term debt.Result -0.15x | CNY 2.30BFree cash flow · 2020-12-31Reported free cash flowOperating cash flowCNY 2.38BtotalCashFromOperatingActivitiesCapexCNY 80.22McapitalExpendituresFree cash flowCNY 2.30BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 2.30B | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-CNY 288.24MoperatingIncomeTax expenseCNY 110.10MincomeTaxExpensePretax income-CNY 437.88MincomeBeforeTaxTax rate—EquityCNY 695.66MtotalStockholderEquityDebtCNY 1.46BshortLongTermDebtTotalCashCNY 4.78BcashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.30xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-CNY 288.24MoperatingIncomeNet PP&ECNY 945.65MpropertyPlantEquipmentResult -0.30x |
| 2021 | 25.8%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 948.10MpropertyPlantEquipmentInventoryCNY 891.49MinventoryTotal assetsCNY 7.14BtotalAssetsResult 25.8% | 10.68xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueCNY 10.12BtotalRevenueNet PP&ECNY 948.10MpropertyPlantEquipmentResult 10.68x | 1.54xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexCNY 202.90McapitalExpendituresD&ACNY 132.12MdepreciationAndAmortizationResult 1.54x | CNY 1.16Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 7.14BtotalAssetsGoodwillCNY 39.50KgoodWillIntangiblesCNY 183.73MintangibleAssetsLiabilitiesCNY 5.63BtotalLiabTangible bookCNY 1.32BShares1,141,541,100commonStockSharesOutstandingResult CNY 1.16 | 1.05xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 742.97MebitdaCapexCNY 202.90McapitalExpendituresInterestCNY 104.00MinterestExpenseShort-term debtCNY 409.93MshortTermDebtEBITDA − capexCNY 540.07MPrincipal due is short-term debt.Result 1.05x | CNY 719.10MFree cash flow · 2021-12-31Reported free cash flowOperating cash flowCNY 922.00MtotalCashFromOperatingActivitiesCapexCNY 202.90McapitalExpendituresFree cash flowCNY 719.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 719.10M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 508.39MoperatingIncomeTax expenseCNY 121.89MincomeTaxExpensePretax incomeCNY 506.85MincomeBeforeTaxTax rate24.0%EquityCNY 436.43MtotalStockholderEquityDebtCNY 409.93MlongTermDebt + shortLongTermDebtCashCNY 3.29BcashInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result — | 0.54xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeCNY 508.39MoperatingIncomeNet PP&ECNY 948.10MpropertyPlantEquipmentResult 0.54x |
| 2022 | 32.6%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 1.24BpropertyPlantAndEquipmentNetInventoryCNY 908.72MinventoryTotal assetsCNY 6.59BtotalAssetsResult 32.6% | 9.43xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueCNY 11.66BtotalRevenueNet PP&ECNY 1.24BpropertyPlantAndEquipmentNetResult 9.43x | 0.89xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexCNY 296.06McapitalExpendituresD&ACNY 333.00MdepreciationAndAmortizationResult 0.89x | CNY 1.48Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 6.59BtotalAssetsGoodwillCNY 39.50KgoodWillIntangiblesCNY 186.43MintangibleAssetsLiabilitiesCNY 4.81BtotalLiabTangible bookCNY 1.60BShares1,080,072,844commonStockSharesOutstandingResult CNY 1.48 | 1.64xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 1.54BebitdaCapexCNY 296.06McapitalExpendituresInterestCNY 119.74MinterestExpenseShort-term debtCNY 637.56MshortLongTermDebtEBITDA − capexCNY 1.24BPrincipal due is the current portion of debt.Result 1.64x | CNY 4.11MFree cash flow · 2022-12-31Reported free cash flowOperating cash flowCNY 300.17MtotalCashFromOperatingActivitiesCapexCNY 296.06McapitalExpendituresFree cash flowCNY 4.11MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 4.11M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 1.11BoperatingIncomeTax expenseCNY 125.79MincomeTaxExpensePretax incomeCNY 1.08BincomeBeforeTaxTax rate11.6%EquityCNY 841.80MtotalStockholderEquityDebtCNY 759.38MshortLongTermDebtTotalCashCNY 2.65BcashAndShortTermInvestmentsInvested capital—Result — | 0.90xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeCNY 1.11BoperatingIncomeNet PP&ECNY 1.24BpropertyPlantAndEquipmentNetResult 0.90x |
| 2023 | 29.8%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 2.20BpropertyPlantAndEquipmentNetInventoryCNY 1.54BinventoryTotal assetsCNY 12.57BtotalAssetsResult 29.8% | 6.90xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueCNY 15.18BtotalRevenueNet PP&ECNY 2.20BpropertyPlantAndEquipmentNetResult 6.90x | 1.88xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexCNY 486.58McapitalExpendituresD&ACNY 258.87MdepreciationAndAmortizationResult 1.88x | CNY 1.95Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 12.57BtotalAssetsGoodwillCNY 6.19MgoodWillIntangiblesCNY 268.63MintangibleAssetsLiabilitiesCNY 10.19BtotalLiabTangible bookCNY 2.10BShares1,077,524,752commonStockSharesOutstandingResult CNY 1.95 | 2.34xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 2.11BebitdaCapexCNY 486.58McapitalExpendituresInterestCNY 76.48MinterestExpenseShort-term debtCNY 618.97MshortLongTermDebtEBITDA − capexCNY 1.63BPrincipal due is the current portion of debt.Result 2.34x | CNY 2.31BFree cash flow · 2023-12-31Reported free cash flowOperating cash flowCNY 2.80BtotalCashFromOperatingActivitiesCapexCNY 486.58McapitalExpendituresFree cash flowCNY 2.31BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 2.31B | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 1.79BoperatingIncomeTax expenseCNY 240.56MincomeTaxExpensePretax incomeCNY 1.78BincomeBeforeTaxTax rate13.5%EquityCNY 1.41BtotalStockholderEquityDebtCNY 893.24MshortLongTermDebtTotalCashCNY 3.54BcashAndShortTermInvestmentsInvested capital—Result — | 0.81xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeCNY 1.79BoperatingIncomeNet PP&ECNY 2.20BpropertyPlantAndEquipmentNetResult 0.81x |
| 2024 | 30.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 2.78BpropertyPlantAndEquipmentNetInventoryCNY 1.77BinventoryTotal assetsCNY 14.89BtotalAssetsResult 30.6% | 6.60xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueCNY 18.36BtotalRevenueNet PP&ECNY 2.78BpropertyPlantAndEquipmentNetResult 6.60x | 2.37xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexCNY 698.12McapitalExpendituresD&ACNY 294.91MdepreciationAndAmortizationResult 2.37x | CNY 3.02Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 14.89BtotalAssetsGoodwillCNY 6.19MgoodWillIntangiblesCNY 265.82MintangibleAssetsLiabilitiesCNY 11.35BtotalLiabTangible bookCNY 3.27BShares1,084,304,930commonStockSharesOutstandingResult CNY 3.02 | 2.86xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 2.60BebitdaCapexCNY 698.12McapitalExpendituresInterestCNY 68.50MinterestExpenseShort-term debtCNY 596.72MshortTermDebtEBITDA − capexCNY 1.90BPrincipal due is short-term debt.Result 2.86x | CNY 1.55BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowCNY 2.25BtotalCashFromOperatingActivitiesCapexCNY 698.12McapitalExpendituresFree cash flowCNY 1.55BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 1.55B | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 2.25BoperatingIncomeTax expenseCNY 298.08MincomeTaxExpensePretax incomeCNY 2.24BincomeBeforeTaxTax rate13.3%EquityCNY 2.42BtotalStockholderEquityDebtCNY 842.21MshortLongTermDebtTotalCashCNY 3.30BcashAndShortTermInvestmentsInvested capital—Result — | 0.81xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeCNY 2.25BoperatingIncomeNet PP&ECNY 2.78BpropertyPlantAndEquipmentNetResult 0.81x |
| 2025 | 29.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 3.11BpropertyPlantAndEquipmentNetInventoryCNY 1.55BinventoryTotal assetsCNY 15.64BtotalAssetsResult 29.8% | 5.94xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueCNY 18.49BtotalRevenueNet PP&ECNY 3.11BpropertyPlantAndEquipmentNetResult 5.94x | 1.95xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexCNY 789.05McapitalExpendituresD&ACNY 404.01MdepreciationAndAmortizationResult 1.95x | CNY 4.24Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 15.64BtotalAssetsGoodwillCNY 6.19MgoodWillIntangiblesCNY 260.36MintangibleAssetsLiabilitiesCNY 10.77BtotalLiabTangible bookCNY 4.60BShares1,084,111,428commonStockSharesOutstandingResult CNY 4.24 | 2.51xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 2.85BebitdaCapexCNY 789.05McapitalExpendituresInterestCNY 56.06MinterestExpenseShort-term debtCNY 764.56MshortLongTermDebtEBITDA − capexCNY 2.06BPrincipal due is the current portion of debt.Result 2.51x | CNY 1.82BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowCNY 2.61BtotalCashFromOperatingActivitiesCapexCNY 789.05McapitalExpendituresFree cash flowCNY 1.82BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result CNY 1.82B | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 2.44BoperatingIncomeTax expenseCNY 411.97MincomeTaxExpensePretax incomeCNY 2.55BincomeBeforeTaxTax rate16.2%EquityCNY 3.54BtotalStockholderEquityDebtCNY 881.19MlongTermDebt + shortLongTermDebtCashCNY 5.99BcashAndShortTermInvestmentsInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result — | 0.78xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeCNY 2.44BoperatingIncomeNet PP&ECNY 3.11BpropertyPlantAndEquipmentNetResult 0.78x |
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 3.11B
Inventory: CNY 1.55B
Total assets: CNY 15.64B
Goodwill: CNY 6.19M
Intangibles: CNY 260.36M
Liabilities: CNY 10.77B
Tangible book: CNY 4.60B
Shares: 1,084,111,428
Revenue: CNY 18.49B
Capex: CNY 789.05M
D&A: CNY 404.01M
EBITDA: CNY 2.85B
Interest: CNY 56.06M
Short-term debt: CNY 764.56M
Free cash flow: CNY 1.82B
Operating income: CNY 2.44B
Invested capital: —
Tax rate: 16.2%