| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51.0 | 65.0 | 69.0 | 41.7 | 8.2 | 28.1 | +244.7% | |
| Cost of revenue | 9.2 | 16.8 | 13.6 | 12.7 | — | 7.1 | — | |
| Gross profit | 41.8 | 48.2 | 55.4 | 29.0 | — | 21.1 | — | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | — | 0.0 | — | |
| Selling, general & administrative | 20.8 | 21.6 | 18.6 | 12.2 | — | 6.0 | — | |
| Selling & marketing | 17.8 | 18.0 | 15.8 | 9.9 | — | 4.0 | — | |
| Operating expenses | 23.9 | 24.8 | 21.6 | 14.2 | — | 21.5 | — | |
| Operating income | 17.9 | 23.4 | 33.8 | 14.8 | — | (0.4) | — | |
| Interest expense | 6.2 | 10.4 | 13.2 | 9.2 | 0.1 | 1.0 | +1025.5% | |
| Interest income | 12.7 | 24.1 | 31.6 | 21.4 | — | 16.4 | — | |
| Other income / expense | 0.0 | 0.0 | (20.8) | (13.2) | — | (0.1) | — | |
| Pre-tax income | 17.9 | 23.4 | 13.0 | 1.6 | (2.1) | (0.6) | +73.0% | |
| Income tax | 5.6 | 6.7 | 4.2 | 0.6 | 1.5 | 1.1 | −27.7% | |
| Net income | 12.4 | 16.8 | 8.7 | 0.9 | (3.9) | (2.0) | +47.3% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | — | 0.0 | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | — | (0.0) | — | |
| EPS, basic (per share) | 44.76 | 56.88 | 30.40 | 3.10 | — | (4.76) | — | |
| EPS, diluted (per share) | 44.40 | 53.52 | 30.32 | 3.08 | — | (4.76) | — | |
| EBITDA | 18.8 | 24.2 | 34.6 | 0.0 | — | 0.7 | — | |
| Depreciation & amortization | 0.9 | 0.8 | 0.8 | 0.6 | — | 0.3 | — | |
| Weighted average shares (shares) | 276,008,000 | 295,462,500 | 286,262,500 | 286,543,750 | — | 433,344,500 | — | |
| Weighted average diluted shares (shares) | 276,008,000 | 339,938,000 | 286,842,000 | 286,790,500 | — | 433,344,500 | — | |
| Gross margin | 81.9% | 74.2% | 80.3% | 69.5% | — | 74.9% | — | |
| Operating margin | 35.1% | 36.0% | 49.0% | 35.5% | — | −1.6% | — | |
| Net margin | 24.2% | 25.8% | 12.6% | 2.1% | −47.4% | −7.3% | +40.2 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.
