| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (221.4) | (1,203.0) | (239.6) | (93.1) | 28.3 | (82.4) | −391.1% | |
| Depreciation & amortization | 3.8 | 7.7 | 3.3 | 1.8 | 1.6 | 19.6 | +1147.6% | |
| Stock-based compensation | 102.8 | 47.1 | 16.7 | 0.1 | 0.0 | 0.0 | −100.0% | |
| Change in working capital | (281.1) | 214.8 | (70.1) | (144.3) | (28.9) | (29.1) | −0.6% | |
| Operating cash flow | (325.0) | (60.6) | (127.0) | (186.1) | (60.4) | (58.6) | +3.0% | |
| Capital expenditure | (10.2) | (12.5) | (0.2) | (0.3) | (31.2) | (22.8) | +27.1% | |
| Acquisitions | 105.3 | (34.5) | (14.3) | 45.6 | (17.9) | 9.9 | +155.3% | |
| Investing cash flow | 5.8 | (43.7) | (159.3) | 31.4 | (146.0) | (38.6) | +73.5% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (46.6) | (308.7) | (62.3) | 72.6 | 0.0 | 43.5 | — | |
| Financing cash flow | (46.6) | (307.1) | (58.7) | 119.8 | 146.6 | 43.5 | −70.3% | |
| Free cash flow | (335.2) | (73.1) | (127.2) | (186.4) | (91.6) | (81.3) | +11.2% | |
| Net change in cash | (397.8) | (419.8) | (333.5) | (38.8) | (54.4) | (53.0) | +2.5% |
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.
