| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 174.4 | 13.7 | 68.1 | (84.7) | 63.4 | 141.9 | +123.8% | |
| Depreciation & amortization | 54.3 | 11.2 | 40.1 | 36.9 | 29.0 | 42.1 | +45.4% | |
| Stock-based compensation | 72.2 | 0.0 | 19.6 | 0.1 | 16.5 | 14.1 | −14.4% | |
| Change in working capital | (75.0) | 13.4 | 4.1 | 20.9 | (52.8) | (57.8) | −9.5% | |
| Operating cash flow | 185.2 | 47.9 | (284.2) | (103.2) | 716.0 | 154.6 | −78.4% | |
| Capital expenditure | (50.4) | (16.0) | (155.7) | (103.4) | (28.6) | (41.7) | −45.7% | |
| Acquisitions | 2.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (433.1) | (41.1) | 314.5 | (198.9) | (164.9) | (232.9) | −41.2% | |
| Dividends paid | (1.2) | 0.0 | 0.0 | 0.0 | 0.0 | (42.0) | — | |
| Share buybacks | (54.6) | (1.9) | (8.0) | (6.4) | (4.3) | (17.7) | −312.3% | |
| Debt issued / repaid | (95.9) | 2.5 | 118.7 | 0.0 | 0.0 | (38.5) | — | |
| Financing cash flow | (146.4) | 2.6 | 113.6 | 115.7 | (34.7) | (105.5) | −204.5% | |
| Free cash flow | 134.8 | 31.9 | (439.9) | (206.6) | 687.4 | 113.0 | −83.6% | |
| Net change in cash | (428.3) | 9.8 | 190.4 | (176.9) | 531.1 | (196.5) | −137.0% |
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.
