| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (1,486.9) | (564.2) | (539.6) | (25.1) | (613.2) | (0.7) | +99.9% | |
| Depreciation & amortization | 254.8 | 78.3 | 0.0 | 0.0 | 0.3 | 0.0 | −99.8% | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 4.8 | 2.5 | 0.0 | −100.0% | |
| Change in working capital | 283.1 | 153.8 | 22.7 | (1.9) | 1.5 | 0.0 | −99.2% | |
| Operating cash flow | 53.2 | (108.7) | (43.1) | (39.9) | (9.8) | (0.0) | +99.9% | |
| Capital expenditure | (96.2) | (0.0) | (0.0) | 0.0 | 0.0 | 0.0 | — | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 10.9 | (0.0) | −100.0% | |
| Investing cash flow | (134.5) | (6.4) | (12.5) | 0.0 | 10.2 | (0.0) | −100.0% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (241.3) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (169.8) | 100.7 | 33.4 | 37.9 | 8.7 | 0.0 | −99.8% | |
| Financing cash flow | (130.8) | 100.7 | 31.9 | 37.9 | 8.7 | 0.0 | −99.8% | |
| Free cash flow | (43.0) | (108.7) | (43.1) | (39.9) | (9.8) | (0.0) | +99.9% | |
| Net change in cash | (207.0) | (10.9) | (20.7) | (1.8) | 12.0 | 0.0 | −100.0% |
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.
