| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18.3 | 20.0 | 20.0 | 44.5 | 53.3 | 60.7 | +13.9% | |
| Cost of revenue | 4.0 | 4.6 | 4.5 | 8.1 | 10.0 | 11.8 | +18.0% | |
| Gross profit | 14.3 | 15.4 | 15.5 | 36.4 | 43.3 | 48.9 | +13.0% | |
| Research & development | 7.7 | 9.0 | 8.3 | 12.1 | 13.1 | 14.7 | +12.1% | |
| Selling, general & administrative | 8.0 | 7.8 | 7.1 | 12.9 | 16.0 | 18.9 | +17.9% | |
| Selling & marketing | 4.4 | 4.9 | 4.3 | 9.2 | 11.9 | 0.0 | −100.0% | |
| Operating expenses | 15.7 | 16.8 | 15.4 | 25.1 | 29.1 | 33.6 | +15.3% | |
| Operating income | (1.4) | (1.4) | 0.1 | 11.3 | 14.2 | 15.3 | +8.2% | |
| Interest expense | 1.7 | 1.6 | 1.5 | 2.1 | 1.7 | 0.8 | −52.4% | |
| Interest income | 2.2 | 2.1 | 2.0 | 2.1 | 2.3 | 2.5 | +8.2% | |
| Other income / expense | (1.5) | 1.0 | 2.0 | 0.4 | 5.7 | 22.8 | +303.1% | |
| Pre-tax income | (2.9) | (0.4) | 2.0 | 11.8 | 19.8 | 38.1 | +92.3% | |
| Income tax | 0.4 | 0.3 | 0.7 | 1.8 | 2.6 | 5.7 | +117.2% | |
| Net income | (3.2) | (0.6) | 1.4 | 9.9 | 17.1 | 32.4 | +89.8% | |
| 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) | (5.40) | (0.87) | 2.17 | 15.19 | 26.10 | 49.23 | +88.6% | |
| EPS, diluted (per share) | (5.40) | (0.87) | 2.14 | 14.78 | 24.78 | 46.36 | +87.1% | |
| EBITDA | (0.2) | 2.2 | 4.4 | 14.6 | 22.4 | 39.8 | +77.5% | |
| Depreciation & amortization | 1.2 | 1.0 | 0.9 | 0.8 | 0.8 | 0.8 | −3.1% | |
| Weighted average shares (shares) | 600,888,000 | 632,183,908 | 634,109,233 | 670,995,000 | 654,035,000 | 657,754,000 | +0.6% | |
| Weighted average diluted shares (shares) | 600,888,000 | 634,109,233 | 634,109,233 | 671,062,000 | 688,705,000 | 698,379,000 | +1.4% | |
| Gross margin | 78.0% | 77.0% | 77.5% | 81.8% | 81.3% | 80.6% | −0.7 pts | |
| Operating margin | −7.8% | −7.0% | 0.4% | 25.4% | 26.6% | 25.3% | −1.3 pts | |
| Net margin | −17.7% | −2.7% | 7.0% | 22.3% | 32.0% | 53.3% | +21.3 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.
