| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.1 | 6.6 | 2.5 | 3.0 | 4.6 | 6.1 | +35.0% | |
| Cost of revenue | 1.8 | 2.4 | 0.7 | 0.8 | 1.5 | 2.0 | +37.6% | |
| Gross profit | 5.4 | 4.2 | 1.8 | 2.2 | 3.1 | 4.1 | +33.8% | |
| Research & development | 0.7 | 1.3 | 0.4 | 0.5 | 0.6 | 0.6 | −3.3% | |
| Selling, general & administrative | 6.4 | 5.8 | 1.5 | 1.9 | 3.6 | 4.0 | +10.7% | |
| Selling & marketing | 5.8 | 5.1 | 1.2 | 1.5 | 3.0 | 3.3 | +11.1% | |
| Operating expenses | 7.1 | 7.3 | 1.9 | 2.3 | 4.3 | 4.6 | +8.6% | |
| Operating income | (1.8) | (3.2) | (0.1) | (0.1) | (1.2) | (0.5) | +57.4% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.0 | −44.8% | |
| Other income / expense | 0.3 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | +24.2% | |
| Pre-tax income | (1.4) | (3.1) | (0.0) | 0.0 | (1.0) | (0.3) | +68.5% | |
| Income tax | (0.0) | 0.0 | (0.0) | 0.0 | 0.0 | (0.0) | −147.6% | |
| Net income | (1.4) | (3.1) | 0.0 | (0.0) | (1.0) | (0.3) | +69.2% | |
| 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) | (3.67) | (7.97) | 0.03 | (0.02) | (2.76) | (0.84) | +69.6% | |
| EPS, diluted (per share) | (3.67) | (7.97) | 0.03 | (0.02) | (2.76) | (0.84) | +69.6% | |
| EBITDA | (1.7) | (2.8) | 0.1 | 0.1 | (1.0) | (0.2) | +78.0% | |
| Depreciation & amortization | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | +73.7% | |
| Weighted average shares (shares) | 359,381,205 | 384,277,780 | 387,569,742 | 386,829,817 | 385,675,351 | 367,015,203 | −4.8% | |
| Weighted average diluted shares (shares) | 359,381,205 | 384,277,780 | 395,978,859 | 386,829,817 | 385,675,351 | 367,015,203 | −4.8% | |
| Gross margin | 75.3% | 63.5% | 71.9% | 73.3% | 68.0% | 67.4% | −0.6 pts | |
| Operating margin | −24.6% | −48.5% | −4.7% | −5.0% | −26.0% | −8.2% | +17.8 pts | |
| Net margin | −19.6% | −47.3% | 0.5% | −0.2% | −23.0% | −5.3% | +17.8 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.
