| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.6 | 11.4 | 9.9 | 13.1 | 14.2 | 12.8 | −9.9% | |
| Cost of revenue | 8.0 | 5.6 | 6.8 | 8.5 | 9.2 | 3.5 | −61.3% | |
| Gross profit | 3.6 | 5.7 | 3.0 | 4.5 | 5.0 | 9.2 | +83.9% | |
| Research & development | 0.5 | 0.5 | 0.6 | 0.5 | 0.6 | 0.6 | +3.0% | |
| Selling, general & administrative | 1.7 | 2.1 | 2.1 | 2.1 | 2.2 | 2.3 | +5.5% | |
| Selling & marketing | 1.3 | 1.7 | 1.7 | 1.7 | 1.8 | 1.9 | +7.4% | |
| Operating expenses | 2.2 | 2.7 | 2.7 | 2.6 | 2.7 | 7.0 | +154.7% | |
| Operating income | 1.4 | 3.1 | 0.3 | 1.9 | 2.3 | 2.3 | −1.0% | |
| Interest expense | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.2 | +2618.2% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.1 | — | |
| Other income / expense | (0.7) | (0.3) | 0.7 | (0.6) | (0.9) | (0.2) | +73.7% | |
| Pre-tax income | 0.7 | 2.8 | 1.0 | 1.3 | 1.4 | 2.0 | +49.1% | |
| Income tax | 0.1 | 0.4 | 0.2 | 0.3 | 0.3 | 0.4 | +53.1% | |
| Net income | 0.6 | 2.3 | 0.8 | 1.1 | 1.1 | 1.6 | +48.2% | |
| 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) | 3.26 | 12.66 | 4.72 | 6.48 | 6.64 | 9.64 | +45.2% | |
| EPS, diluted (per share) | 3.12 | 11.46 | 4.42 | 6.34 | 6.50 | 9.16 | +40.9% | |
| EBITDA | 0.9 | 3.0 | 1.2 | 1.5 | 1.5 | 2.4 | +56.6% | |
| Depreciation & amortization | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | −30.8% | |
| Weighted average shares (shares) | 205,614,905 | 184,230,434 | 174,024,122 | 168,260,036 | 165,701,968 | 169,471,969 | +2.3% | |
| Weighted average diluted shares (shares) | 205,614,905 | 207,496,358 | 196,378,410 | 179,910,491 | 169,630,675 | 177,544,938 | +4.7% | |
| Gross margin | 31.2% | 50.5% | 30.8% | 34.6% | 35.4% | 72.3% | +36.9 pts | |
| Operating margin | 12.3% | 27.0% | 3.4% | 14.4% | 16.1% | 17.7% | +1.6 pts | |
| Net margin | 5.1% | 20.5% | 8.3% | 8.2% | 7.7% | 12.8% | +5.0 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.
