| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.2 | 33.5 | 92.8 | 320.1 | 201.0 | 125.1 | −37.7% | |
| Cost of revenue | 6.5 | 29.6 | 86.6 | 231.3 | 112.4 | 17.6 | −84.3% | |
| Gross profit | (0.4) | 3.9 | 6.2 | 88.8 | 88.5 | 107.5 | +21.4% | |
| Research & development | 20.4 | 37.2 | 36.6 | 63.1 | 42.1 | 14.6 | −65.3% | |
| Selling, general & administrative | 58.4 | 227.8 | 2,437.4 | 1,116.5 | 573.5 | 283.6 | −50.5% | |
| Selling & marketing | 46.5 | 193.3 | 241.4 | 438.6 | 198.9 | 150.5 | −24.3% | |
| Operating expenses | 75.7 | 257.9 | 2,466.7 | 1,155.1 | 895.6 | 298.2 | −66.7% | |
| Operating income | (76.1) | (254.0) | (2,460.5) | (1,066.4) | (807.0) | (190.7) | +76.4% | |
| Interest expense | 0.3 | 1.1 | 10.3 | 31.2 | 38.0 | 32.6 | −14.3% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other income / expense | (0.3) | (1.1) | (3,167.0) | (223.9) | (120.2) | (234.4) | −95.1% | |
| Pre-tax income | (76.4) | (255.1) | (5,627.5) | (1,290.2) | (927.2) | (425.1) | +54.2% | |
| Income tax | 1.5 | 5.3 | 9.9 | 3.8 | (19.2) | 0.0 | +100.0% | |
| Net income | (77.9) | (260.5) | (5,637.4) | (1,306.9) | (913.5) | (439.0) | +51.9% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | (13.1) | (6.4) | (24.9) | −288.1% | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | (2,208.00) | (384.00) | (8,192.00) | (1,856.00) | (1,088.00) | (140.48) | +87.1% | |
| EPS, diluted (per share) | (2,208.00) | (384.00) | (8,192.00) | (1,856.00) | (1,120.00) | (140.48) | +87.5% | |
| EBITDA | (72.6) | (247.5) | (547.4) | (1,055.5) | (873.3) | (387.0) | +55.7% | |
| Depreciation & amortization | 3.5 | 6.6 | 0.4 | 8.9 | 15.9 | 5.6 | −64.8% | |
| Weighted average shares (shares) | 35,254 | 669,248 | 686,555 | 706,175 | 822,109 | 3,041,980 | +270.0% | |
| Weighted average diluted shares (shares) | 35,254 | 669,248 | 686,555 | 706,175 | 822,109 | 3,041,980 | +270.0% | |
| Gross margin | −6.2% | 11.6% | 6.6% | 27.7% | 44.1% | 85.9% | +41.9 pts | |
| Operating margin | −1,235.2% | −759.4% | −2,651.0% | −333.2% | −401.6% | −152.4% | +249.1 pts | |
| Net margin | −1,263.9% | −778.6% | −6,073.8% | −408.3% | −454.5% | −350.8% | +103.7 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.
