| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (470.6) | (816.5) | (2,467.9) | (156.3) | (8.2) | 336.3 | +4186.6% | |
| Depreciation & amortization | 360.8 | 373.7 | 405.4 | 333.7 | 267.1 | 116.3 | −56.5% | |
| Stock-based compensation | 0.0 | 454.6 | 174.2 | 134.4 | 166.7 | 52.9 | −68.3% | |
| Change in working capital | (370.6) | (1,126.6) | 595.4 | (256.1) | 32.7 | (1,069.2) | −3366.1% | |
| Operating cash flow | (412.9) | (1,018.0) | 881.3 | 243.9 | 642.8 | (403.3) | −162.7% | |
| Capital expenditure | (37.8) | (73.9) | (61.5) | (85.2) | (59.9) | (140.3) | −134.5% | |
| Acquisitions | (20.0) | 2.9 | 29.9 | 1.2 | 0.0 | 5.6 | — | |
| Investing cash flow | 18.6 | (670.4) | (516.7) | 172.0 | (424.4) | (132.4) | +68.8% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | (217.9) | (160.1) | (184.3) | (89.8) | +51.3% | |
| Debt issued / repaid | 234.0 | (307.3) | 29.0 | 225.9 | (124.9) | 95.2 | +176.2% | |
| Financing cash flow | 930.0 | 2,289.6 | (186.0) | 68.7 | (307.7) | (13.3) | +95.7% | |
| Free cash flow | (450.7) | (1,091.9) | 819.8 | 158.7 | 583.0 | (543.6) | −193.3% | |
| Net change in cash | 507.3 | 588.3 | 197.0 | 487.1 | (88.0) | (474.9) | −439.6% |
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.
