| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.1 | 3.9 | 2.0 | 1.7 | 0.8 | 4.8 | +498.1% | |
| Cost of revenue | 1.1 | 3.0 | 1.8 | 1.5 | 0.4 | 4.6 | +1183.6% | |
| Gross profit | 1.0 | 1.0 | 0.2 | 0.2 | 0.4 | 0.2 | −55.8% | |
| Research & development | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | −100.0% | |
| Selling, general & administrative | 0.5 | 0.7 | 0.4 | 0.2 | 0.3 | 0.0 | −89.0% | |
| Selling & marketing | 0.2 | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 | −100.0% | |
| Operating expenses | 0.6 | 1.0 | 1.1 | 0.3 | 0.3 | 0.2 | −19.6% | |
| Operating income | 0.3 | (0.0) | (0.9) | (0.1) | 0.2 | (0.0) | −109.5% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | +21078.3% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.0 | −86.7% | |
| Other income / expense | 3.4 | 0.0 | 0.1 | 0.1 | 0.1 | (3.1) | −2671.3% | |
| Pre-tax income | 3.7 | 0.0 | (0.9) | 0.1 | 0.3 | (3.2) | −1149.5% | |
| Income tax | 0.4 | 0.0 | 0.2 | 0.1 | 0.0 | 0.0 | +345.5% | |
| Net income | 3.4 | (0.0) | (1.1) | (0.0) | 0.3 | (3.2) | −1156.0% | |
| 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) | 56.10 | (0.15) | (20.20) | (0.75) | 7.20 | (111.90) | −1654.2% | |
| EPS, diluted (per share) | 55.50 | (0.15) | (20.20) | (0.75) | 6.50 | (111.90) | −1821.5% | |
| EBITDA | 0.3 | 0.0 | (0.6) | 0.1 | 0.2 | (2.2) | −1305.4% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.8 | +12129.2% | |
| Weighted average shares (shares) | 60,780,132 | 57,978,910 | 54,816,980 | 48,609,854 | 46,482,971 | 28,328,904 | −39.1% | |
| Weighted average diluted shares (shares) | 60,780,129 | 57,978,581 | 54,816,978 | 48,609,757 | 46,606,544 | 28,328,904 | −39.2% | |
| Gross margin | 46.5% | 24.6% | 7.6% | 11.2% | 55.3% | 4.1% | −51.2 pts | |
| Operating margin | 15.5% | −0.6% | −47.8% | −4.3% | 22.2% | −0.4% | −22.6 pts | |
| Net margin | 164.2% | −0.2% | −56.1% | −2.2% | 37.3% | −65.8% | −103.1 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.
