Analyst	Recommendation	Action	Price target	Projected	Date
Lincoln Yu J.P. Morgan	Buy	Maintained	$22.00	+154.9%	10/29/2026
Johnny Xie Deutsche Bank	Hold	Initiated	$1.40	-83.8%	08/27/2026
Unknown Analyst J.P. Morgan	Hold	Upgraded	$2.00	-76.8%	04/17/2026

All values in CNY	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	-	6.24B	6.24B	6.18B
Cost of goods sold	-	883.67M	883.67M	773.99M
Cost of revenue	-	883.67M	883.67M	773.99M
Research and development expenses	-	-	-	-
Total research and development expenses	-	-	-	-
Selling, general, and admin expenses	-	1.33B	1.33B	1.49B
Operating expense	-	5.66B	5.66B	6.00B
Total operating expenses	-	6.54B	6.54B	6.77B
Operating income	-	-297.59M	-297.59M	-594.09M
Other non operating income	-	69.70M	69.70M	-5.36M
EBT including unusual items	-	-342.73M	-342.73M	-721.16M
EBT excluding unusual items	-	-342.73M	-342.73M	-721.16M
Income tax expense	-	4.40M	4.40M	772.93M
Effective tax rate	-	-1.28%	-1.28%	-107.18%
Other operating expenses	-	-	-	-
Net income	-	-447.94M	-447.94M	-1.54B
Net profit margin	-	-7.17%	-7.17%	-24.85%
Earnings per share	-	-	-	-
Interest and investment income	-	-	-	-
Interest expense	-	-114.84M	-114.84M	-121.70M
Net interest expenses	-	-114.84M	-114.84M	-121.70M
Depreciation and amortization charges	-	-	-	-
EBITDA	-	-285.13M	-285.13M	-581.63M
Gain or loss from assets sale	-	-	-	-

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