| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,530.3 | 2,155.4 | 1,154.1 | 640.2 | 417.7 | 317.0 | −24.1% | |
| Cost of revenue | 3,940.0 | 1,343.4 | 651.6 | 332.8 | 211.3 | 176.2 | −16.6% | |
| Gross profit | 1,590.3 | 812.0 | 502.5 | 307.4 | 206.3 | 140.8 | −31.8% | |
| Research & development | 202.8 | 124.9 | 81.4 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 1,720.9 | 849.0 | 602.7 | 242.0 | 227.4 | 229.6 | +1.0% | |
| Selling & marketing | 806.1 | 296.0 | 214.8 | 121.0 | 97.0 | 102.7 | +5.9% | |
| Operating expenses | 1,687.7 | 794.6 | 581.1 | 388.1 | 342.6 | 284.2 | −17.1% | |
| Operating income | (97.5) | (1.2) | (78.6) | (80.6) | (136.3) | (143.4) | −5.2% | |
| Interest expense | 1.0 | 0.7 | 0.0 | 0.1 | (5.1) | 0.5 | +110.4% | |
| Interest income | 7.6 | 3.9 | 0.9 | 1.9 | 3.9 | 2.5 | −36.2% | |
| Other income / expense | (11.1) | 175.4 | (28.0) | (76.7) | 15.2 | 10.6 | −30.2% | |
| Pre-tax income | (108.6) | 209.0 | (106.5) | (157.3) | (121.1) | (132.8) | −9.7% | |
| Income tax | 39.3 | 60.5 | 24.8 | 7.9 | 2.0 | 0.5 | −77.0% | |
| Net income | (147.9) | 132.0 | (131.3) | (165.1) | (123.1) | (133.3) | −8.3% | |
| 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) | (27.84) | 24.68 | (25.16) | (33.52) | (25.04) | (27.12) | −8.3% | |
| EPS, diluted (per share) | (27.84) | 24.68 | (25.16) | (33.52) | (25.04) | (27.12) | −8.3% | |
| EBITDA | (65.4) | 18.7 | (93.6) | (141.1) | (103.5) | (122.5) | −18.3% | |
| Depreciation & amortization | 36.8 | 19.9 | 10.5 | 8.3 | 12.5 | 13.4 | +7.3% | |
| Weighted average shares (shares) | 5,314,765 | 5,349,908 | 5,220,799 | 4,927,771 | 4,917,715 | 4,917,715 | +0.0% | |
| Weighted average diluted shares (shares) | 5,314,765 | 5,349,908 | 5,220,799 | 4,927,771 | 4,917,715 | 4,917,715 | +0.0% | |
| Gross margin | 28.8% | 37.7% | 43.5% | 48.0% | 49.4% | 44.4% | −5.0 pts | |
| Operating margin | −1.8% | −0.1% | −6.8% | −12.6% | −32.6% | −45.2% | −12.6 pts | |
| Net margin | −2.7% | 6.1% | −11.4% | −25.8% | −29.5% | −42.0% | −12.6 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.
