| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Cash & cash equivalents | 3.0 | 1.7 | 2.9 | 5.1 | 2.0 | 5.5 | +171.0% | |
| Cash & short-term investments | 3.3 | 1.7 | 2.9 | 5.4 | 2.0 | 5.9 | +189.6% | |
| Receivables | 1.8 | 2.6 | 2.9 | 2.9 | 3.4 | 3.8 | +13.9% | |
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Total current assets | 6.0 | 5.3 | 7.0 | 9.8 | 6.8 | 11.5 | +67.9% | |
| Property, plant & equipment | 9.4 | 12.9 | 15.2 | 17.0 | 21.8 | 27.6 | +26.6% | |
| Goodwill & intangibles | 1.6 | 2.2 | 2.8 | 1.4 | 1.4 | 2.9 | +104.6% | |
| Long-term investments | 0.3 | 0.1 | 0.2 | 0.8 | 0.8 | 1.1 | +25.9% | |
| Total assets | 19.3 | 23.1 | 26.6 | 30.4 | 32.4 | 44.6 | +37.8% | |
| Payables | 0.3 | 0.5 | 0.7 | 0.7 | 0.7 | 0.7 | +4.6% | |
| Short-term debt | 3.0 | 1.4 | 1.9 | 6.2 | 3.5 | 4.5 | +29.1% | |
| Total current liabilities | 6.1 | 5.2 | 6.2 | 11.4 | 9.3 | 12.4 | +33.2% | |
| Long-term debt | 3.9 | 6.5 | 8.8 | 6.9 | 9.7 | 16.7 | +73.0% | |
| Total debt | 8.2 | 11.3 | 14.6 | 17.5 | 18.4 | 28.2 | +52.7% | |
| Net debt | 5.3 | 9.6 | 11.6 | 12.4 | 16.4 | 22.6 | +38.0% | |
| Deferred revenue | 1.1 | 1.1 | 1.2 | 1.7 | 1.5 | 1.1 | −23.4% | |
| Total liabilities | 12.4 | 15.5 | 19.7 | 23.7 | 25.2 | 36.0 | +43.2% | |
| Total equity | 6.6 | 7.2 | 6.5 | 6.0 | 6.4 | 6.2 | −2.3% | |
| Retained earnings | (7.2) | (7.6) | (8.2) | (11.0) | (10.9) | (11.1) | −2.5% |
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.
