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.
China State Construction Engineering Corp Ltd
Physical assets are 24.7% of total assets, a light footprint. Capex is 1.86x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by 0.41x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 32.56x.
Physical asset ratio
24.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 63.95BpropertyPlantAndEquipmentNetInventoryCNY 815.87BinventoryTotal assetsCNY 3,560.68BtotalAssetsResult 24.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
32.56xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueCNY 2,082.14BtotalRevenueNet PP&ECNY 63.95BpropertyPlantAndEquipmentNetResult 32.56x
Revenue per dollar of the physical asset base.
Capex / D&A
1.86xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexCNY 26.23BcapitalExpendituresD&ACNY 14.10BreconciledDepreciationResult 1.86x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 18.82Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 3,560.68BtotalAssetsGoodwillCNY 2.37BgoodWillIntangiblesCNY 42.39BintangibleAssetsLiabilitiesCNY 2,738.17BtotalLiabTangible bookCNY 777.75BShares41,320,390,444commonStockSharesOutstandingResult CNY 18.82
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.25xPrice / tangible bookPrice / tangible book per sharePriceCNY 4.67Latest quoteTangible book / shareCNY 18.822025-12-31Result 0.25x
Price CNY 4.67.
Fixed-charge coverage
0.41xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 104.14BebitdaCapexCNY 26.23BcapitalExpendituresInterestCNY 19.81BinterestExpenseShort-term debtCNY 170.25BshortLongTermDebtEBITDA − capexCNY 77.91BPrincipal due is the current portion of debt.Result 0.41x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-2.9%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-CNY 5.69BfreeCashFlowMarket capCNY 194.62BMarketCapitalizationResult -2.9%
Latest free cash flow divided by current market cap (CNY 194.62B).
ROIC
9.5%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 111.41BoperatingIncomeTax expenseCNY 16.66BtaxProvisionPretax incomeCNY 70.22BincomeBeforeTaxTax rate23.7%EquityCNY 491.56BtotalStockholderEquityDebtCNY 810.10BlongTermDebt + shortLongTermDebtCashCNY 411.67BcashInvested capitalCNY 889.98BResult 9.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.74x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 36.5%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 43.97BpropertyPlantEquipmentInventoryCNY 634.97BinventoryTotal assetsCNY 1,861.84BtotalAssetsResult 36.5% | 27.27xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueCNY 1,199.32BtotalRevenueNet PP&ECNY 43.97BpropertyPlantEquipmentResult 27.27x | 2.19xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexCNY 18.62BcapitalExpendituresD&ACNY 8.49BdepreciationAndAmortizationResult 2.19x | CNY 9.23Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 1,861.84BtotalAssetsGoodwillCNY 2.29BgoodWillIntangiblesCNY 11.59BintangibleAssetsLiabilitiesCNY 1,432.58BtotalLiabTangible bookCNY 415.38BShares44,989,793,000commonStockSharesOutstandingResult CNY 9.23 | 1.98xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 90.89BebitdaCapexCNY 18.62BcapitalExpendituresInterestCNY 17.37BinterestExpenseShort-term debtCNY 19.04BshortLongTermDebtEBITDA − capexCNY 72.27BPrincipal due is the current portion of debt.Result 1.98x | -CNY 8.31BFree cash flow · 2018-12-31Reported free cash flowOperating cash flowCNY 10.31BtotalCashFromOperatingActivitiesCapexCNY 18.62BcapitalExpendituresFree cash flow-CNY 8.31BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 8.31B | 16.1%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 71.67BoperatingIncomeTax expenseCNY 16.44BincomeTaxExpensePretax incomeCNY 71.79BincomeBeforeTaxTax rate22.9%EquityCNY 243.96BtotalStockholderEquityDebtCNY 421.21BshortLongTermDebtTotalCashCNY 322.12BcashAndShortTermInvestmentsInvested capitalCNY 343.05BResult 16.1% | 1.63xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeCNY 71.67BoperatingIncomeNet PP&ECNY 43.97BpropertyPlantEquipmentResult 1.63x |
| 2019 | 30.8%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 47.64BpropertyPlantEquipmentInventoryCNY 578.92BinventoryTotal assetsCNY 2,034.45BtotalAssetsResult 30.8% | 29.80xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueCNY 1,419.84BtotalRevenueNet PP&ECNY 47.64BpropertyPlantEquipmentResult 29.80x | 2.37xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexCNY 20.44BcapitalExpendituresD&ACNY 8.61BdepreciationAndAmortizationResult 2.37x | CNY 11.73Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 2,034.45BtotalAssetsGoodwillCNY 2.35BgoodWillIntangiblesCNY 16.41BintangibleAssetsLiabilitiesCNY 1,532.62BtotalLiabTangible bookCNY 483.08BShares41,175,428,000commonStockSharesOutstandingResult CNY 11.73 | 0.53xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 96.99BebitdaCapexCNY 20.44BcapitalExpendituresInterestCNY 12.06BinterestExpenseShort-term debtCNY 131.20BshortTermDebtEBITDA − capexCNY 76.55BPrincipal due is short-term debt.Result 0.53x | -CNY 54.66BFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-CNY 34.22BtotalCashFromOperatingActivitiesCapexCNY 20.44BcapitalExpendituresFree cash flow-CNY 54.66BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 54.66B | 14.5%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 83.80BoperatingIncomeTax expenseCNY 18.26BincomeTaxExpensePretax incomeCNY 81.47BincomeBeforeTaxTax rate22.4%EquityCNY 277.20BtotalStockholderEquityDebtCNY 464.91BshortLongTermDebtTotalCashCNY 293.34BcashAndShortTermInvestmentsInvested capitalCNY 448.77BResult 14.5% | 1.76xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeCNY 83.80BoperatingIncomeNet PP&ECNY 47.64BpropertyPlantEquipmentResult 1.76x |
| 2020 | 33.1%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 50.20BpropertyPlantEquipmentInventoryCNY 675.13BinventoryTotal assetsCNY 2,192.17BtotalAssetsResult 33.1% | 32.17xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueCNY 1,615.05BtotalRevenueNet PP&ECNY 50.20BpropertyPlantEquipmentResult 32.17x | 5.75xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexCNY 49.50BcapitalExpendituresD&ACNY 8.60BdepreciationAndAmortizationResult 5.75x | CNY 13.42Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 2,192.17BtotalAssetsGoodwillCNY 2.29BgoodWillIntangiblesCNY 22.56BintangibleAssetsLiabilitiesCNY 1,615.08BtotalLiabTangible bookCNY 552.25BShares41,152,199,000commonStockSharesOutstandingResult CNY 13.42 | 0.36xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 105.24BebitdaCapexCNY 49.50BcapitalExpendituresInterestCNY 14.21BinterestExpenseShort-term debtCNY 139.18BshortTermDebtEBITDA − capexCNY 55.74BPrincipal due is short-term debt.Result 0.36x | -CNY 29.23BFree cash flow · 2020-12-31Reported free cash flowOperating cash flowCNY 20.27BtotalCashFromOperatingActivitiesCapexCNY 49.50BcapitalExpendituresFree cash flow-CNY 29.23BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 29.23B | 14.1%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 94.46BoperatingIncomeTax expenseCNY 23.34BincomeTaxExpensePretax incomeCNY 94.27BincomeBeforeTaxTax rate24.8%EquityCNY 300.42BtotalStockholderEquityDebtCNY 499.14BshortLongTermDebtTotalCashCNY 296.10BcashAndShortTermInvestmentsInvested capitalCNY 503.46BResult 14.1% | 1.88xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeCNY 94.46BoperatingIncomeNet PP&ECNY 50.20BpropertyPlantEquipmentResult 1.88x |
| 2021 | 31.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 53.04BpropertyPlantEquipmentInventoryCNY 703.45BinventoryTotal assetsCNY 2,388.25BtotalAssetsResult 31.7% | 35.68xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueCNY 1,892.71BtotalRevenueNet PP&ECNY 53.04BpropertyPlantEquipmentResult 35.68x | 3.31xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexCNY 31.12BcapitalExpendituresD&ACNY 9.40BdepreciationAndAmortizationResult 3.31x | CNY 15.18Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 2,388.25BtotalAssetsGoodwillCNY 2.24BgoodWillIntangiblesCNY 20.65BintangibleAssetsLiabilitiesCNY 1,748.55BtotalLiabTangible bookCNY 616.81BShares40,623,354,000commonStockSharesOutstandingResult CNY 15.18 | 1.13xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 117.35BebitdaCapexCNY 31.12BcapitalExpendituresInterestCNY 16.51BinterestExpenseShort-term debtCNY 59.95BshortLongTermDebtEBITDA − capexCNY 86.23BPrincipal due is the current portion of debt.Result 1.13x | -CNY 16.76BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowCNY 14.36BtotalCashFromOperatingActivitiesCapexCNY 31.12BcapitalExpendituresFree cash flow-CNY 16.76BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 16.76B | 13.0%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 100.75BoperatingIncomeTax expenseCNY 23.17BincomeTaxExpensePretax incomeCNY 101.04BincomeBeforeTaxTax rate22.9%EquityCNY 343.90BtotalStockholderEquityDebtCNY 579.18BshortLongTermDebtTotalCashCNY 327.53BcashAndShortTermInvestmentsInvested capitalCNY 595.55BResult 13.0% | 1.90xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeCNY 100.75BoperatingIncomeNet PP&ECNY 53.04BpropertyPlantEquipmentResult 1.90x |
| 2022 | 31.4%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 60.78BpropertyPlantEquipmentInventoryCNY 771.55BinventoryTotal assetsCNY 2,652.90BtotalAssetsResult 31.4% | 33.81xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueCNY 2,055.05BtotalRevenueNet PP&ECNY 60.78BpropertyPlantEquipmentResult 33.81x | 2.43xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexCNY 25.95BcapitalExpendituresD&ACNY 10.68BdepreciationAndAmortizationResult 2.43x | CNY 15.85Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 2,652.90BtotalAssetsGoodwillCNY 2.34BgoodWillIntangiblesCNY 26.20BintangibleAssetsLiabilitiesCNY 1,972.52BtotalLiabTangible bookCNY 651.84BShares41,126,486,000commonStockSharesOutstandingResult CNY 15.85 | 0.88xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 112.33BebitdaCapexCNY 25.95BcapitalExpendituresInterestCNY 20.24BinterestExpenseShort-term debtCNY 78.15BshortLongTermDebtEBITDA − capexCNY 86.38BPrincipal due is the current portion of debt.Result 0.88x | -CNY 22.12BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowCNY 3.83BtotalCashFromOperatingActivitiesCapexCNY 25.95BcapitalExpendituresFree cash flow-CNY 22.12BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 22.12B | 9.0%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 86.73BoperatingIncomeTax expenseCNY 19.62BincomeTaxExpensePretax incomeCNY 88.84BincomeBeforeTaxTax rate22.1%EquityCNY 384.32BtotalStockholderEquityDebtCNY 703.95BshortLongTermDebtTotalCashCNY 335.27BcashAndShortTermInvestmentsInvested capitalCNY 752.99BResult 9.0% | 1.43xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeCNY 86.73BoperatingIncomeNet PP&ECNY 60.78BpropertyPlantEquipmentResult 1.43x |
| 2023 | 29.6%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 63.50BpropertyPlantAndEquipmentNetInventoryCNY 796.34BinventoryTotal assetsCNY 2,903.32BtotalAssetsResult 29.6% | 35.68xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueCNY 2,265.53BtotalRevenueNet PP&ECNY 63.50BpropertyPlantAndEquipmentNetResult 35.68x | 2.79xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexCNY 34.06BcapitalExpendituresD&ACNY 12.20BdepreciationAndAmortizationResult 2.79x | CNY 16.81Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 2,903.32BtotalAssetsGoodwillCNY 2.39BgoodWillIntangiblesCNY 32.73BintangibleAssetsLiabilitiesCNY 2,172.25BtotalLiabTangible bookCNY 695.95BShares41,391,108,000commonStockSharesOutstandingResult CNY 16.81 | 0.60xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 121.07BebitdaCapexCNY 34.06BcapitalExpendituresInterestCNY 20.11BinterestExpenseShort-term debtCNY 124.35BshortLongTermDebtEBITDA − capexCNY 87.02BPrincipal due is the current portion of debt.Result 0.60x | -CNY 23.03BFree cash flow · 2023-12-31Reported free cash flowOperating cash flowCNY 11.03BtotalCashFromOperatingActivitiesCapexCNY 34.06BcapitalExpendituresFree cash flow-CNY 23.03BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 23.03B | 8.4%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 93.13BoperatingIncomeTax expenseCNY 19.46BincomeTaxExpensePretax incomeCNY 93.00BincomeBeforeTaxTax rate20.9%EquityCNY 427.61BtotalStockholderEquityDebtCNY 819.97BshortLongTermDebtTotalCashCNY 370.30BcashAndShortTermInvestmentsInvested capitalCNY 877.28BResult 8.4% | 1.47xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeCNY 93.13BoperatingIncomeNet PP&ECNY 63.50BpropertyPlantAndEquipmentNetResult 1.47x |
| 2024 | 26.2%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 63.78BpropertyPlantAndEquipmentNetInventoryCNY 772.15BinventoryTotal assetsCNY 3,189.26BtotalAssetsResult 26.2% | 34.29xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueCNY 2,187.15BtotalRevenueNet PP&ECNY 63.78BpropertyPlantAndEquipmentNetResult 34.29x | 1.56xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexCNY 19.80BcapitalExpendituresD&ACNY 12.73BdepreciationAndAmortizationResult 1.56x | CNY 17.63Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 3,189.26BtotalAssetsGoodwillCNY 2.44BgoodWillIntangiblesCNY 35.25BintangibleAssetsLiabilitiesCNY 2,417.80BtotalLiabTangible bookCNY 733.77BShares41,609,999,000commonStockSharesOutstandingResult CNY 17.63 | 0.67xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 113.19BebitdaCapexCNY 19.80BcapitalExpendituresInterestCNY 23.76BinterestExpenseShort-term debtCNY 115.67BshortLongTermDebtEBITDA − capexCNY 93.39BPrincipal due is the current portion of debt.Result 0.67x | -CNY 4.03BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowCNY 15.77BtotalCashFromOperatingActivitiesCapexCNY 19.80BcapitalExpendituresFree cash flow-CNY 4.03BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 4.03B | 8.1%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 80.56BoperatingIncomeTax expenseCNY 17.30BincomeTaxExpensePretax incomeCNY 80.04BincomeBeforeTaxTax rate21.6%EquityCNY 462.18BtotalStockholderEquityDebtCNY 742.45BshortLongTermDebtTotalCashCNY 424.41BcashAndShortTermInvestmentsInvested capitalCNY 780.22BResult 8.1% | 1.26xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeCNY 80.56BoperatingIncomeNet PP&ECNY 63.78BpropertyPlantAndEquipmentNetResult 1.26x |
| 2025 | 24.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ECNY 63.95BpropertyPlantAndEquipmentNetInventoryCNY 815.87BinventoryTotal assetsCNY 3,560.68BtotalAssetsResult 24.7% | 32.56xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueCNY 2,082.14BtotalRevenueNet PP&ECNY 63.95BpropertyPlantAndEquipmentNetResult 32.56x | 1.86xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexCNY 26.23BcapitalExpendituresD&ACNY 14.10BreconciledDepreciationResult 1.86x | CNY 18.82Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsCNY 3,560.68BtotalAssetsGoodwillCNY 2.37BgoodWillIntangiblesCNY 42.39BintangibleAssetsLiabilitiesCNY 2,738.17BtotalLiabTangible bookCNY 777.75BShares41,320,390,444commonStockSharesOutstandingResult CNY 18.82 | 0.41xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDACNY 104.14BebitdaCapexCNY 26.23BcapitalExpendituresInterestCNY 19.81BinterestExpenseShort-term debtCNY 170.25BshortLongTermDebtEBITDA − capexCNY 77.91BPrincipal due is the current portion of debt.Result 0.41x | -CNY 5.69BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowCNY 20.54BtotalCashFromOperatingActivitiesCapexCNY 26.23BcapitalExpendituresFree cash flow-CNY 5.69BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -CNY 5.69B | 9.5%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeCNY 111.41BoperatingIncomeTax expenseCNY 16.66BtaxProvisionPretax incomeCNY 70.22BincomeBeforeTaxTax rate23.7%EquityCNY 491.56BtotalStockholderEquityDebtCNY 810.10BlongTermDebt + shortLongTermDebtCashCNY 411.67BcashInvested capitalCNY 889.98BResult 9.5% | 1.74xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeCNY 111.41BoperatingIncomeNet PP&ECNY 63.95BpropertyPlantAndEquipmentNetResult 1.74x |
- 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 63.95B
Inventory: CNY 815.87B
Total assets: CNY 3,560.68B
Goodwill: CNY 2.37B
Intangibles: CNY 42.39B
Liabilities: CNY 2,738.17B
Tangible book: CNY 777.75B
Shares: 41,320,390,444
Revenue: CNY 2,082.14B
Capex: CNY 26.23B
D&A: CNY 14.10B
EBITDA: CNY 104.14B
Interest: CNY 19.81B
Short-term debt: CNY 170.25B
Free cash flow: -CNY 5.69B
Operating income: CNY 111.41B
Invested capital: CNY 889.98B
Tax rate: 23.7%