| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (18.3) | (107.7) | (33.7) | 70.2 | 0.6 | 3.5 | +525.1% | |
| Depreciation & amortization | 13.5 | 40.4 | 46.2 | 39.3 | 36.3 | 23.0 | −36.5% | |
| Stock-based compensation | 35.9 | 11.4 | 8.2 | 0.5 | 9.0 | 18.5 | +105.3% | |
| Change in working capital | 98.8 | (134.9) | (118.9) | 27.2 | (50.4) | (37.7) | +25.3% | |
| Operating cash flow | 137.7 | (175.9) | (85.1) | 137.4 | (18.9) | 17.9 | +194.4% | |
| Capital expenditure | (8.2) | (38.1) | (16.8) | (30.5) | (4.3) | (8.2) | −92.5% | |
| Acquisitions | (0.6) | (14.3) | (22.3) | (2.4) | 1.9 | 16.4 | +770.5% | |
| Investing cash flow | (31.1) | (80.9) | (56.3) | (61.0) | (3.2) | (11.9) | −267.7% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (2.1) | (3.0) | (6.7) | (13.4) | (0.1) | 0.0 | +100.0% | |
| Debt issued / repaid | 44.1 | 143.5 | (97.3) | (124.5) | 19.6 | 10.0 | −49.0% | |
| Financing cash flow | 383.1 | 141.9 | (101.1) | (133.6) | 23.2 | 4.1 | −82.3% | |
| Free cash flow | 129.5 | (214.0) | (101.9) | 106.8 | (23.2) | 9.6 | +141.5% | |
| Net change in cash | 479.6 | (120.0) | (232.9) | (54.3) | 3.2 | 7.0 | +119.5% |
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.
