| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 114.9 | 65.2 | 135.4 | 164.6 | 37.8 | (457.6) | −1311.0% | |
| Depreciation & amortization | 6.0 | 3.8 | 2.2 | 1.8 | 11.5 | 15.5 | +34.7% | |
| Stock-based compensation | 62.1 | 18.8 | 5.8 | 7.5 | 14.9 | 0.0 | −100.0% | |
| Change in working capital | 412.1 | 62.5 | (330.4) | 77.0 | (382.3) | (373.4) | +2.3% | |
| Operating cash flow | 1,119.6 | 689.7 | 919.3 | 1,705.8 | 757.2 | 82.1 | −89.2% | |
| Capital expenditure | (3.2) | (3.8) | (89.9) | (114.5) | (7.9) | (3.5) | +56.3% | |
| Acquisitions | 0.0 | 0.0 | 50.0 | 0.0 | 0.0 | 0.4 | — | |
| Investing cash flow | 524.1 | (2,350.6) | (1,098.2) | (2,483.9) | (263.7) | 3,184.7 | +1307.8% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | (87.6) | (30.7) | (4.6) | (1.7) | +62.1% | |
| Debt issued / repaid | (1,367.1) | 1,932.6 | (251.3) | 1,107.3 | (1,327.6) | (4,070.0) | −206.6% | |
| Financing cash flow | (1,367.1) | 1,932.6 | (288.2) | 1,005.5 | (1,332.2) | (4,071.7) | −205.6% | |
| Free cash flow | 1,116.4 | 685.9 | 829.4 | 1,591.3 | 749.3 | 78.7 | −89.5% | |
| Net change in cash | 255.6 | 270.5 | (459.3) | 229.4 | (831.2) | (782.8) | +5.8% |
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.
