In millions of CNY, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 |
Revenues | 183.2 | 357.6 | 330.2 | 644.8 | 651.0 | 280.7 | 117.4 |
Revenue growth | -48.8% | 8.3% | -48.8% | -1.0% | 132.0% | 139.2% | |
Cost of goods sold | 0.0 | 85.3 | 88.8 | 186.5 | 183.4 | 85.7 | 17.7 |
Gross profit | 183.2 | 272.3 | 241.4 | 458.2 | 467.6 | 194.9 | 99.6 |
Gross margin | 100.0% | 76.1% | 73.1% | 71.1% | 71.8% | 69.5% | 84.9% |
Sales and marketing | 127.7 | 274.7 | 279.7 | 572.0 | 432.1 | 223.2 | 136.7 |
Research and development | 19.8 | 35.7 | 34.3 | 43.3 | 19.3 | 15.9 | 19.6 |
General and administrative | 64.7 | 72.8 | 98.8 | 103.9 | 84.4 | 27.5 | 24.5 |
EBITA | -86.8 | -106.0 | -167.2 | -260.0 | -68.8 | -71.7 | -81.1 |
EBITA margin | -47.4% | -29.7% | -50.6% | -40.3% | -10.6% | -25.6% | -69.1% |
Amortization of intangibles | 2.1 | 4.1 | 4.1 | | | | |
EBIT | -88.9 | -110.1 | -171.3 | -260.0 | -68.8 | -71.7 | -81.1 |
EBIT margin | -48.5% | -30.8% | -51.9% | -40.3% | -10.6% | -25.6% | -69.1% |
Pre-tax income | -171.9 | -101.9 | -164.5 | -251.3 | -75.1 | -75.7 | -81.5 |
Income taxes | -5.5 | 0.0 | -1.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Tax rate | 3.2% | 0.0% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings from continuing ops | -166.5 | -101.9 | -163.0 | -250.6 | -110.2 | -96.6 | -98.4 |
Earnings from discontinued ops | | | | | -3.6 | -15.0 | -5.1 |
Net income | -166.5 | -101.9 | -163.0 | -250.6 | -113.8 | -111.6 | -103.5 |
Net margin | -90.9% | -28.5% | -49.4% | -38.9% | -17.5% | -39.8% | -88.2% |
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Diluted EPS | ($0.52) | ($0.33) | ($0.54) | ($0.85) | ($0.90) | ($1.02) | ($1.10) |
Shares outstanding (diluted) | 319.5 | 306.8 | 304.4 | 294.9 | 121.9 | 94.9 | 89.4 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |