| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 416.7 | (351.1) | (513.5) | (602.9) | (601.6) | (235.2) | +60.9% | |
| Depreciation & amortization | 68.5 | 50.8 | 53.0 | 35.3 | 51.5 | 147.2 | +186.2% | |
| Stock-based compensation | 81.0 | 7.2 | 7.9 | 33.6 | 26.1 | 19.8 | −24.0% | |
| Change in working capital | 186.5 | 191.3 | (320.4) | 606.0 | (114.2) | (256.2) | −124.4% | |
| Operating cash flow | (46.1) | 102.8 | (424.2) | 550.5 | (238.3) | (172.3) | +27.7% | |
| Capital expenditure | (59.3) | (46.8) | (6.8) | (9.7) | (22.8) | (12.8) | +43.7% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | (238.1) | 0.0 | (31.4) | — | |
| Investing cash flow | 1,880.4 | 220.8 | 189.1 | (49.1) | (34.1) | (65.6) | −92.3% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 4.7 | 0.0 | 0.0 | 0.0 | (5.0) | 0.0 | +100.0% | |
| Financing cash flow | (1,450.7) | (9.6) | (4.9) | (6.8) | 69.1 | (64.2) | −192.9% | |
| Free cash flow | (105.4) | 56.0 | (431.0) | 540.8 | (261.2) | (185.1) | +29.1% | |
| Net change in cash | 314.8 | 284.3 | (68.2) | 503.7 | (187.2) | (326.4) | −74.4% |
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.
