| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 54.6 | 631.8 | 473.7 | 82.2 | 281.8 | 214.8 | −23.8% | |
| Cost of revenue | 23.3 | 114.0 | 87.0 | 73.1 | 130.5 | 199.3 | +52.8% | |
| Gross profit | 31.3 | 517.9 | 386.7 | 9.1 | 151.3 | 15.5 | −89.7% | |
| Research & development | 22.5 | 53.2 | 48.4 | 42.3 | 109.4 | 75.2 | −31.3% | |
| Selling, general & administrative | 3.3 | 17.4 | 15.6 | 31.7 | 38.7 | 42.1 | +8.7% | |
| Selling & marketing | 0.1 | 3.0 | 4.1 | 6.5 | 8.5 | 0.0 | −100.0% | |
| Operating expenses | 23.2 | 70.6 | 64.0 | 74.0 | 148.4 | 117.3 | −21.0% | |
| Operating income | 8.0 | 447.3 | 322.7 | (65.0) | 3.2 | (101.8) | −3324.1% | |
| Interest expense | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 | −100.0% | |
| Interest income | 0.0 | 2.5 | 11.1 | 16.8 | 16.2 | 10.7 | −34.0% | |
| Other income / expense | 0.2 | 2.8 | 44.4 | 29.4 | 47.0 | 20.2 | −57.1% | |
| Pre-tax income | 8.2 | 450.1 | 367.1 | (35.6) | 50.2 | (81.6) | −262.6% | |
| Income tax | 0.0 | 0.0 | 11.9 | (8.8) | (1.3) | (30.9) | −2244.6% | |
| Net income | 8.2 | 450.1 | 355.2 | (26.8) | 51.5 | (50.6) | −198.3% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | 0.14 | 17.84 | 5.70 | (0.44) | 1.72 | (1.68) | −197.7% | |
| EPS, diluted (per share) | 0.14 | 17.84 | 5.70 | (0.44) | 1.72 | (1.68) | −197.7% | |
| EBITDA | 9.1 | 450.9 | 368.9 | (31.7) | 55.2 | (74.8) | −235.4% | |
| Depreciation & amortization | 0.7 | 0.6 | 1.8 | 3.8 | 5.0 | 6.8 | +36.8% | |
| Weighted average shares (shares) | 58,823,500 | 59,823,500 | 59,823,500 | 59,694,077 | 29,983,000 | 30,228,215 | +0.8% | |
| Weighted average diluted shares (shares) | 59,823,500 | 59,823,500 | 62,398,500 | 59,693,969 | 30,003,000 | 30,228,215 | +0.8% | |
| Gross margin | 57.3% | 82.0% | 81.6% | 11.0% | 53.7% | 7.2% | −46.5 pts | |
| Operating margin | 14.7% | 70.8% | 68.1% | −79.0% | 1.1% | −47.4% | −48.5 pts | |
| Net margin | 15.1% | 71.2% | 75.0% | −32.6% | 18.3% | −23.6% | −41.8 pts |
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.
