| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 404.7 | (620.2) | (619.5) | 35.5 | (306.8) | (29.1) | +90.5% | |
| Depreciation & amortization | 110.9 | 88.7 | 599.5 | 96.8 | 62.6 | 31.6 | −49.6% | |
| Stock-based compensation | 142.2 | 132.1 | 457.3 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | (33.3) | (284.0) | (1,262.8) | (218.1) | (65.0) | (132.6) | −104.0% | |
| Operating cash flow | 667.6 | (586.3) | (464.8) | (47.7) | (238.9) | (52.3) | +78.1% | |
| Capital expenditure | (82.4) | (122.5) | (165.6) | (16.3) | (13.1) | (1.8) | +86.4% | |
| Acquisitions | (225.7) | (107.1) | (329.9) | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (2,612.6) | (19.1) | (4,170.2) | 414.2 | (1,074.5) | 2,971.8 | +376.6% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | (2,101.5) | (2,150.8) | −2.3% | |
| Share buybacks | (579.8) | (107.2) | (109.0) | 0.0 | (105.5) | 0.0 | +100.0% | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Financing cash flow | (479.2) | (107.2) | (109.0) | (0.0) | (2,207.0) | (2,150.8) | +2.5% | |
| Free cash flow | 585.3 | (708.8) | (630.4) | (64.0) | (252.0) | (54.0) | +78.6% | |
| Net change in cash | (2,843.1) | (824.7) | (2,874.1) | 461.3 | (3,471.6) | 743.8 | +121.4% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in CNY; the shares trade in USD.
