| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 393.4 | (416.8) | (979.5) | 12.6 | (73.6) | (391.5) | −431.6% | |
| Depreciation & amortization | 0.4 | 47.4 | 91.4 | 86.9 | 61.5 | 15.1 | −75.4% | |
| Stock-based compensation | 55.1 | 150.2 | 202.3 | 70.8 | 44.7 | 116.1 | +159.8% | |
| Change in working capital | (54.5) | (572.4) | 81.6 | (26.2) | (5.7) | (3.3) | +41.7% | |
| Operating cash flow | (106.3) | (687.7) | (154.7) | (46.3) | (44.2) | (30.9) | +30.1% | |
| Capital expenditure | (0.4) | (92.0) | (253.6) | (2.1) | (18.0) | (1.4) | +92.2% | |
| Acquisitions | 440.6 | (14.2) | 0.0 | 0.0 | (10.7) | 0.3 | +102.9% | |
| Investing cash flow | 438.3 | (141.1) | (248.8) | 4.7 | (57.0) | 1.7 | +103.0% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (358.1) | 155.2 | 33.0 | 42.4 | 50.9 | (31.2) | −161.3% | |
| Financing cash flow | (310.7) | 1,226.6 | 33.0 | 32.2 | 69.8 | 75.7 | +8.5% | |
| Free cash flow | (106.6) | (779.7) | (408.4) | (48.4) | (62.2) | (32.3) | +48.1% | |
| Net change in cash | 21.6 | 396.7 | (370.4) | (12.8) | (34.3) | 48.1 | +240.1% |
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.
