| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (692.7) | 1,033.0 | 1,194.9 | 2,080.2 | 1,582.3 | 54.5 | −96.6% | |
| Depreciation & amortization | 327.5 | 140.0 | 52.8 | 25.4 | 28.3 | 30.6 | +8.1% | |
| Stock-based compensation | 14.2 | 19.1 | 22.1 | 6.8 | 16.9 | 30.2 | +78.5% | |
| Change in working capital | (152.2) | (1,497.0) | 466.5 | (351.9) | (1,486.4) | (2,607.7) | −75.4% | |
| Operating cash flow | 282.0 | 158.2 | 1,849.4 | 2,171.0 | 1,424.1 | 703.6 | −50.6% | |
| Capital expenditure | (13.7) | (9.4) | (0.9) | (4.4) | (9.2) | (25.7) | −180.2% | |
| Acquisitions | (15.2) | 0.0 | 0.0 | (5.1) | 0.8 | 6.4 | +681.5% | |
| Investing cash flow | (1,796.7) | (346.5) | 52.6 | 100.0 | (3,113.1) | (1,576.2) | +49.4% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | (122.3) | (273.1) | −123.3% | |
| Share buybacks | (3.1) | (2.8) | (3.8) | (48.1) | (75.6) | (0.2) | +99.7% | |
| Debt issued / repaid | 481.9 | 528.1 | (217.7) | (767.9) | (291.8) | (348.8) | −19.5% | |
| Financing cash flow | 955.4 | 427.4 | (489.1) | (569.3) | (277.2) | 662.6 | +339.0% | |
| Free cash flow | 268.3 | 148.8 | 1,848.5 | 2,166.6 | 1,414.9 | 677.9 | −52.1% | |
| Net change in cash | (562.0) | 238.2 | 1,415.4 | 1,697.9 | (1,957.0) | (230.7) | +88.2% |
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.
