| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (1,392.9) | (3,103.5) | 90.3 | (7.3) | (1,049.0) | (323.3) | +69.2% | |
| Depreciation & amortization | 57.2 | 112.6 | 484.8 | 54.2 | 65.0 | 112.8 | +73.7% | |
| Stock-based compensation | 238.4 | 320.9 | 840.4 | 58.4 | 53.2 | 39.2 | −26.3% | |
| Change in working capital | 1,767.9 | (1,697.4) | (696.4) | 257.5 | 1,193.4 | 643.3 | −46.1% | |
| Operating cash flow | 603.3 | (4,185.8) | 373.7 | 353.7 | 258.0 | 416.1 | +61.3% | |
| Capital expenditure | (284.1) | (272.3) | (129.9) | (40.8) | (178.2) | (169.5) | +4.9% | |
| Acquisitions | (108.5) | 5.5 | (102.8) | 0.0 | 0.0 | (32.2) | — | |
| Investing cash flow | (5,596.3) | 4,812.5 | (1,085.3) | (424.0) | 620.8 | (818.8) | −231.9% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (282.5) | 0.0 | 0.0 | (90.5) | (205.3) | (343.4) | −67.2% | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 129.2 | — | |
| Financing cash flow | 5,272.1 | (100.6) | 0.0 | (90.5) | (205.3) | (214.1) | −4.3% | |
| Free cash flow | 319.2 | (4,458.1) | 243.9 | 312.9 | 79.8 | 246.6 | +209.1% | |
| Net change in cash | 281.3 | 541.9 | (528.9) | (150.0) | 656.4 | (614.3) | −193.6% |
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.
