| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 52.5 | 46.4 | 52.6 | 93.3 | 113.4 | 91.3 | −19.5% | |
| Cost of revenue | 49.0 | 33.6 | 36.4 | 76.1 | 97.3 | 84.9 | −12.8% | |
| Gross profit | 3.5 | 12.8 | 16.2 | 17.2 | 16.1 | 6.4 | −60.2% | |
| Research & development | 4.1 | 2.0 | 7.4 | 7.4 | 10.1 | 13.0 | +28.8% | |
| Selling, general & administrative | 62.9 | 78.9 | 21.7 | 22.6 | 42.3 | 47.2 | +11.6% | |
| Selling & marketing | 4.8 | 5.6 | 7.3 | 8.4 | 6.3 | 7.0 | +11.2% | |
| Operating expenses | 67.0 | 80.9 | 29.1 | 32.2 | 52.7 | 60.2 | +14.3% | |
| Operating income | (63.5) | (137.9) | (12.9) | (15.0) | (36.6) | (53.8) | −47.0% | |
| Interest expense | 5.8 | 8.6 | 8.2 | 1.0 | 1.5 | 2.7 | +81.3% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other income / expense | (10.8) | 11.0 | 15.2 | 77.8 | 55.3 | (4.5) | −108.0% | |
| Pre-tax income | (102.4) | (126.9) | 2.3 | 62.8 | 18.7 | (58.3) | −410.9% | |
| Income tax | 0.4 | 0.2 | (0.0) | 0.2 | 0.1 | (0.3) | −580.3% | |
| Net income | (102.8) | (91.5) | (6.3) | 55.3 | 20.7 | (53.3) | −357.5% | |
| 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) | (20.45) | (16.29) | (1.09) | 8.43 | 3.20 | (7.03) | −319.7% | |
| EPS, diluted (per share) | (20.45) | (16.29) | (1.09) | 8.43 | 3.20 | (7.03) | −319.7% | |
| EBITDA | (86.0) | (59.8) | (9.0) | 67.8 | 23.1 | (52.3) | −326.7% | |
| Depreciation & amortization | 10.6 | 8.3 | 3.9 | 4.0 | 2.8 | 3.2 | +13.2% | |
| Weighted average shares (shares) | 5,029,017 | 5,617,424 | 5,617,424 | 6,563,701 | 6,472,500 | 7,490,671 | +15.7% | |
| Weighted average diluted shares (shares) | 5,029,017 | 5,617,424 | 5,617,424 | 6,562,278 | 6,465,370 | 7,490,671 | +15.9% | |
| Gross margin | 6.7% | 27.6% | 30.8% | 18.5% | 14.2% | 7.0% | −7.2 pts | |
| Operating margin | −120.9% | −297.1% | −24.5% | −16.1% | −32.3% | −58.9% | −26.7 pts | |
| Net margin | −195.8% | −197.2% | −11.9% | 59.3% | 18.3% | −58.4% | −76.7 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.
