| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (2,688.4) | (1,547.0) | (821.3) | (750.2) | (710.2) | (92.4) | +87.0% | |
| Depreciation & amortization | 263.9 | 427.3 | 339.3 | 203.4 | 0.0 | 146.1 | — | |
| Stock-based compensation | 1,900.6 | 530.4 | 340.9 | 77.5 | 91.2 | 59.0 | −35.3% | |
| Change in working capital | (502.4) | (530.4) | 230.1 | 61.5 | (198.6) | (205.2) | −3.3% | |
| Operating cash flow | (983.4) | (1,020.4) | 136.2 | (107.4) | (243.7) | (94.7) | +61.2% | |
| Capital expenditure | (384.6) | (166.7) | (59.3) | (44.0) | (57.0) | (43.8) | +23.2% | |
| Acquisitions | (134.7) | (1,317.5) | (137.9) | (121.5) | (42.0) | 0.0 | +100.0% | |
| Investing cash flow | (508.8) | (1,484.3) | (1,155.4) | (260.5) | 592.1 | 246.8 | −58.3% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (491.2) | (15.2) | (654.7) | (212.7) | (405.8) | (111.0) | +72.6% | |
| Debt issued / repaid | 0.0 | (0.1) | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Financing cash flow | 6,680.9 | (1.7) | (654.5) | (342.5) | (394.2) | (151.4) | +61.6% | |
| Free cash flow | (1,367.9) | (1,187.2) | 76.9 | (151.4) | (300.7) | (138.5) | +54.0% | |
| Net change in cash | 5,056.8 | (2,595.4) | (1,583.7) | (696.2) | (40.7) | (9.9) | +75.7% |
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.
