| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 766.0 | 933.8 | 682.3 | 585.4 | 541.9 | 410.7 | −24.2% | |
| Cost of revenue | 596.6 | 684.2 | 539.2 | 411.7 | 387.9 | 304.7 | −21.4% | |
| Gross profit | 169.4 | 249.6 | 143.0 | 173.7 | 154.0 | 106.0 | −31.2% | |
| Research & development | 85.0 | 155.6 | 341.6 | 171.1 | 111.7 | 61.6 | −44.9% | |
| Selling, general & administrative | 38.0 | 76.4 | 50.9 | 160.7 | 36.5 | 47.8 | +31.1% | |
| Selling & marketing | 3.7 | 10.6 | 5.9 | 3.6 | 2.3 | 2.2 | −4.5% | |
| Operating expenses | 322.9 | 513.2 | 451.8 | 790.8 | 183.1 | 129.2 | −29.4% | |
| Operating income | (153.4) | (263.7) | (308.7) | (617.1) | (29.1) | (23.2) | +20.4% | |
| Interest expense | 3.6 | 7.0 | 2.3 | 1.0 | 1.1 | 12.9 | +1027.8% | |
| Interest income | 12.1 | 5.8 | 3.8 | 66.4 | 131.3 | 387.2 | +194.9% | |
| Other income / expense | 11.4 | 8.4 | (71.7) | 104.2 | 139.0 | 367.9 | +164.8% | |
| Pre-tax income | (142.1) | (255.2) | (380.4) | (512.9) | 109.9 | 344.8 | +213.7% | |
| Income tax | 2.9 | (0.8) | (3.6) | (2.5) | 6.6 | 7.1 | +8.7% | |
| Net income | (151.2) | (236.0) | (357.7) | (421.2) | 71.6 | 300.8 | +319.9% | |
| 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) | (2.24) | (3.04) | (4.38) | (4.82) | 1.46 | 22.10 | +1413.7% | |
| EPS, diluted (per share) | (2.24) | (3.04) | (4.36) | (4.82) | 1.46 | 15.52 | +963.0% | |
| EBITDA | (131.6) | (112.9) | (249.9) | (222.1) | 12.9 | 363.7 | +2711.5% | |
| Depreciation & amortization | 14.6 | 18.5 | 10.5 | 1.3 | 6.0 | 6.1 | +0.6% | |
| Weighted average shares (shares) | 64,601,652 | 83,528,910 | 85,993,051 | 87,234,056 | 49,105,015 | 13,600,459 | −72.3% | |
| Weighted average diluted shares (shares) | 64,719,802 | 83,528,910 | 86,136,500 | 87,234,048 | 49,104,021 | 19,416,126 | −60.5% | |
| Gross margin | 22.1% | 26.7% | 21.0% | 29.7% | 28.4% | 25.8% | −2.6 pts | |
| Operating margin | −20.0% | −28.2% | −45.2% | −105.4% | −5.4% | −5.6% | −0.3 pts | |
| Net margin | −19.7% | −25.3% | −52.4% | −72.0% | 13.2% | 73.2% | +60.0 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.
