| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.3 | 20.1 | 24.2 | 20.0 | 23.1 | 24.4 | +5.6% | |
| Cost of revenue | 9.1 | 16.1 | 16.7 | 13.8 | 16.1 | 17.3 | +7.0% | |
| Gross profit | 2.2 | 4.0 | 7.5 | 6.1 | 6.9 | 7.1 | +2.3% | |
| Research & development | 0.3 | 0.9 | 1.0 | 0.8 | 0.8 | 0.8 | +2.8% | |
| Selling, general & administrative | 1.0 | 9.5 | 1.1 | 0.8 | 0.9 | 1.0 | +1.7% | |
| Selling & marketing | 0.6 | 1.5 | 0.5 | 0.4 | 0.5 | 0.5 | −8.8% | |
| Operating expenses | 5.4 | 10.4 | 8.3 | 6.3 | 6.7 | 7.0 | +3.6% | |
| Operating income | (3.2) | (6.3) | (0.8) | (0.1) | 0.2 | 0.1 | −38.6% | |
| Interest expense | 0.0 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | −64.5% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.2 | 0.2 | 0.1 | −18.7% | |
| Other income / expense | (0.0) | (0.1) | (0.0) | 0.1 | 0.1 | 0.1 | +3.1% | |
| Pre-tax income | (3.2) | (6.4) | (0.8) | (0.1) | 0.3 | 0.2 | −24.8% | |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −42.8% | |
| Net income | (3.2) | (6.4) | (0.8) | (0.1) | 0.3 | 0.2 | −24.9% | |
| 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) | (30.22) | (74.29) | (5.60) | (0.69) | 1.37 | 0.98 | −28.5% | |
| EPS, diluted (per share) | (30.22) | (74.29) | (5.60) | (0.69) | 1.35 | 0.98 | −27.4% | |
| EBITDA | (3.0) | (6.1) | (0.5) | 0.2 | 0.5 | 0.4 | −26.4% | |
| Depreciation & amortization | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | −14.9% | |
| Weighted average shares (shares) | 106,292,600 | 86,539,507 | 144,147,072 | 131,997,723 | 216,333,946 | 216,852,000 | +0.2% | |
| Weighted average diluted shares (shares) | 106,292,600 | 86,539,507 | 144,147,072 | 144,433,883 | 225,289,092 | 218,698,000 | −2.9% | |
| Gross margin | 19.7% | 20.1% | 30.9% | 30.7% | 30.1% | 29.2% | −0.9 pts | |
| Operating margin | −27.9% | −31.5% | −3.3% | −0.7% | 0.9% | 0.5% | −0.4 pts | |
| Net margin | −28.0% | −32.0% | −3.4% | −0.5% | 1.3% | 0.9% | −0.4 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.
