| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 958.8 | 585.9 | (362.1) | 39.1 | 91.7 | 708.6 | +672.5% | |
| Depreciation & amortization | 44.0 | 99.5 | 64.3 | 41.3 | 55.5 | 66.8 | +20.5% | |
| Stock-based compensation | 45.6 | 35.3 | 24.1 | 4.9 | 2.3 | 0.0 | −100.0% | |
| Change in working capital | 52.3 | (19.3) | 276.0 | 387.6 | (211.5) | 38.4 | +118.1% | |
| Operating cash flow | 2,471.7 | 922.1 | 260.9 | 352.0 | (111.0) | 687.1 | +719.0% | |
| Capital expenditure | (221.8) | (478.4) | (273.6) | (565.0) | (318.0) | (116.6) | +63.3% | |
| Acquisitions | (738.8) | 0.0 | (32.2) | 0.0 | (14.0) | 0.0 | +100.0% | |
| Investing cash flow | (3,269.9) | (246.6) | 1,884.8 | 3,895.4 | (2,344.4) | 845.4 | +136.1% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (15.5) | 0.0 | (145.9) | (420.7) | (533.2) | (300.5) | +43.6% | |
| Debt issued / repaid | (1,795.5) | (76.5) | (689.1) | (145.3) | 720.0 | 856.0 | +18.9% | |
| Financing cash flow | (1,591.3) | (84.2) | (835.0) | (566.0) | 186.8 | 555.6 | +197.4% | |
| Free cash flow | 2,249.9 | 443.6 | (12.8) | (213.0) | (429.0) | 570.4 | +233.0% | |
| Net change in cash | (2,445.6) | 570.5 | 1,329.3 | 3,694.0 | (2,222.3) | 2,011.5 | +190.5% |
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.
