| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (92.0) | (313.9) | (329.3) | (301.7) | (229.8) | (276.4) | −20.3% | |
| Depreciation & amortization | 6.2 | 7.8 | 20.9 | 21.4 | 19.8 | 29.2 | +47.4% | |
| Stock-based compensation | 54.9 | 121.1 | 96.5 | 151.5 | 273.1 | 246.2 | −9.9% | |
| Change in working capital | (136.5) | 4.7 | (10.0) | 17.0 | 88.1 | (135.4) | −253.7% | |
| Operating cash flow | (151.7) | (121.6) | (173.5) | (88.4) | 158.0 | (174.6) | −210.5% | |
| Capital expenditure | (9.1) | (15.7) | (13.8) | (9.1) | (39.0) | (143.9) | −269.2% | |
| Acquisitions | (0.1) | 0.1 | 0.0 | (6.9) | 0.0 | (38.8) | — | |
| Investing cash flow | (66.2) | (33.4) | 56.4 | (128.7) | (482.5) | (532.2) | −10.3% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | (10.1) | 0.0 | +100.0% | |
| Debt issued / repaid | 8.0 | 10.0 | 36.8 | (54.7) | 13.3 | 220.7 | +1557.7% | |
| Financing cash flow | 42.7 | 266.9 | 106.7 | 195.5 | 701.4 | 367.1 | −47.7% | |
| Free cash flow | (160.8) | (137.3) | (187.3) | (97.5) | 119.0 | (318.5) | −367.7% | |
| Net change in cash | (181.5) | 106.9 | 2.3 | (21.1) | 382.6 | (328.0) | −185.7% |
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.
