| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 3,369.5 | (8.5) | (1,111.2) | (37.9) | 299.8 | (3,166.2) | −1156.0% | |
| Depreciation & amortization | 9.5 | 8.5 | 17.5 | 18.6 | 96.1 | 818.2 | +751.5% | |
| Stock-based compensation | 78.8 | 87.6 | 158.5 | 38.5 | 17.1 | 34.1 | +99.4% | |
| Change in working capital | (1,133.5) | (341.6) | (633.5) | 1,091.9 | 287.0 | (22.4) | −107.8% | |
| Operating cash flow | (621.6) | (404.4) | (567.4) | 1,026.0 | (310.2) | (768.0) | −147.6% | |
| Capital expenditure | (5.4) | (18.9) | (4.6) | (1.8) | (928.8) | (802.6) | +13.6% | |
| Acquisitions | 0.0 | 1.7 | 0.0 | 0.0 | 0.0 | 1,465.4 | — | |
| Investing cash flow | (493.6) | 2,661.2 | 1,959.5 | 2,124.7 | (1,249.9) | 550.2 | +144.0% | |
| Dividends paid | (267.2) | (808.1) | (1,599.7) | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (49.2) | (444.4) | (105.8) | (246.9) | (90.9) | (8.7) | +90.4% | |
| Debt issued / repaid | (46.5) | (554.8) | (1,020.4) | (949.6) | (39.1) | (1,036.1) | −2551.8% | |
| Financing cash flow | (380.8) | (1,946.4) | (2,990.2) | (1,193.8) | (127.4) | (1,041.3) | −717.5% | |
| Free cash flow | (627.0) | (423.3) | (572.0) | 1,024.2 | (1,239.0) | (1,570.6) | −26.8% | |
| Net change in cash | (1,532.1) | 295.4 | (1,327.8) | 2,005.8 | (1,700.5) | (1,232.8) | +27.5% |
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.
