| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (7.2) | 7.8 | 31.5 | 60.0 | 112.4 | 97.8 | −13.0% | |
| Depreciation & amortization | 0.8 | 1.8 | 2.7 | 1.9 | 2.6 | 3.0 | +13.6% | |
| Stock-based compensation | 3.6 | 4.8 | 7.7 | 7.1 | 9.9 | 7.9 | −19.7% | |
| Change in working capital | 31.0 | 13.6 | 7.4 | 26.5 | 6.7 | 7.4 | +10.6% | |
| Operating cash flow | 28.2 | 28.8 | 7.0 | 94.2 | 121.9 | 106.9 | −12.3% | |
| Capital expenditure | (0.0) | (3.3) | (0.6) | (0.6) | (1.0) | (1.1) | −18.4% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (38.4) | (35.6) | (3.2) | (55.4) | (118.4) | (43.4) | +63.3% | |
| 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 | 13.9 | (1.9) | 0.0 | (9.0) | (0.0) | (5.2) | −5745741.8% | |
| Financing cash flow | 51.8 | (1.9) | 0.0 | (9.0) | 0.0 | (5.2) | −449185.3% | |
| Free cash flow | 28.2 | 25.5 | 6.4 | 93.6 | 121.0 | 105.8 | −12.5% | |
| Net change in cash | 41.5 | (8.8) | 3.8 | 29.5 | 4.4 | 56.5 | +1180.7% |
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.
