| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (151.7) | 132.3 | (138.4) | (165.1) | (123.1) | (133.3) | −8.3% | |
| Depreciation & amortization | 36.8 | 19.9 | 10.5 | 8.3 | 12.5 | 13.4 | +7.3% | |
| Stock-based compensation | 98.4 | 55.9 | 30.2 | (0.9) | 2.4 | 0.3 | −88.5% | |
| Change in working capital | (357.6) | (175.5) | (187.1) | (177.5) | (72.5) | (22.6) | +68.8% | |
| Operating cash flow | (261.5) | (26.0) | (216.8) | (188.3) | (126.1) | (57.8) | +54.2% | |
| Capital expenditure | (84.4) | (87.0) | (92.3) | (12.4) | (192.5) | (68.8) | +64.3% | |
| Acquisitions | (7.1) | 4.1 | 1.5 | 1.7 | 2.1 | 5.0 | +137.4% | |
| Investing cash flow | 551.0 | (513.8) | 92.6 | 294.0 | (166.3) | (88.2) | +47.0% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (23.2) | (0.2) | (95.4) | (21.0) | 0.0 | 0.0 | — | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 40.1 | — | |
| Financing cash flow | (13.9) | (0.5) | (94.6) | (25.3) | (13.3) | 38.7 | +390.5% | |
| Free cash flow | (345.9) | (113.0) | (309.1) | (200.7) | (318.6) | (126.6) | +60.3% | |
| Net change in cash | 222.0 | (560.0) | (173.0) | 88.0 | (301.9) | (110.5) | +63.4% |
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.
