| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.9 | 7.8 | 9.9 | 13.0 | 16.3 | 20.5 | +25.4% | |
| Cost of revenue | 3.6 | 5.7 | 7.6 | 10.3 | 13.1 | 18.0 | +37.2% | |
| Gross profit | 1.2 | 2.0 | 2.3 | 2.6 | 3.2 | 2.5 | −22.4% | |
| Research & development | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | +12.8% | |
| Selling, general & administrative | 0.9 | 1.6 | 1.8 | 1.5 | 1.7 | 1.9 | +15.2% | |
| Selling & marketing | 0.7 | 1.2 | 1.5 | 1.3 | 1.4 | 1.7 | +21.0% | |
| Operating expenses | 1.7 | 2.9 | 4.9 | 2.8 | 3.2 | 2.1 | −34.2% | |
| Operating income | (0.5) | (0.9) | (2.6) | (0.2) | 0.0 | 0.4 | +1290.0% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −60.9% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −25.7% | |
| Other income / expense | (0.1) | (0.1) | 0.0 | (0.0) | (0.1) | (0.0) | +78.4% | |
| Pre-tax income | (0.5) | (1.0) | (2.6) | (0.2) | (0.1) | 0.4 | +687.2% | |
| Income tax | (0.0) | (0.1) | (0.1) | (0.0) | (0.1) | 0.1 | +197.1% | |
| Net income | (0.5) | (0.8) | (2.5) | (0.2) | (0.0) | 0.3 | +4075.3% | |
| 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) | (63.01) | (9.17) | (10.11) | (0.64) | (0.03) | 0.91 | +2784.4% | |
| EPS, diluted (per share) | (63.01) | (9.17) | (10.11) | (0.64) | (0.03) | 0.89 | +2725.4% | |
| EBITDA | (0.1) | (0.5) | (2.2) | 0.2 | 0.4 | 0.5 | +42.2% | |
| Depreciation & amortization | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.1 | −66.1% | |
| Weighted average shares (shares) | 7,468,999 | 89,012,001 | 244,188,000 | 243,240,000 | 242,429,001 | 362,962,545 | +49.7% | |
| Weighted average diluted shares (shares) | 28,174,000 | 144,458,001 | 244,228,000 | 243,240,000 | 242,427,000 | 364,935,364 | +50.5% | |
| Gross margin | 25.7% | 26.3% | 23.0% | 20.3% | 19.9% | 12.3% | −7.6 pts | |
| Operating margin | −9.4% | −11.5% | −26.6% | −1.3% | 0.2% | 2.0% | +1.8 pts | |
| Net margin | −9.7% | −10.5% | −25.0% | −1.2% | −0.1% | 1.6% | +1.6 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.
