| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.9 | 5.8 | 3.8 | 3.4 | 3.4 | 4.2 | +21.5% | |
| Cost of revenue | 1.8 | 1.9 | 1.2 | 0.9 | 0.8 | 0.9 | +10.5% | |
| Gross profit | 3.2 | 3.8 | 2.6 | 2.5 | 2.7 | 3.3 | +24.8% | |
| Research & development | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | +20.5% | |
| Selling, general & administrative | 5.7 | 5.3 | 3.4 | 3.0 | 3.0 | 3.3 | +11.6% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 5.7 | 5.5 | 3.5 | 3.1 | 3.1 | 3.5 | +13.3% | |
| Operating income | (2.5) | (1.6) | (0.9) | (0.6) | (0.4) | (0.2) | +57.8% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.0 | −54.0% | |
| Other income / expense | 0.0 | 0.1 | 0.1 | (0.2) | (0.3) | 0.1 | +130.7% | |
| Pre-tax income | (2.5) | (1.5) | (0.8) | (0.8) | (0.7) | (0.1) | +87.6% | |
| Income tax | 0.0 | (0.0) | 0.0 | (0.0) | (0.0) | (0.0) | +96.6% | |
| Net income | (2.5) | (1.5) | (0.8) | (0.7) | (0.7) | (0.1) | +89.0% | |
| 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 | −4.2% | |
| EPS, basic (per share) | (4.60) | (12.20) | (7.40) | (6.80) | (7.00) | (0.84) | +88.0% | |
| EPS, diluted (per share) | (4.60) | (12.20) | (7.40) | (6.80) | (7.00) | (0.84) | +88.0% | |
| EBITDA | (2.3) | (1.1) | (0.5) | (0.6) | (0.5) | 0.1 | +111.2% | |
| Depreciation & amortization | 0.2 | 0.4 | 0.3 | 0.2 | 0.2 | 0.1 | −34.5% | |
| Weighted average shares (shares) | 126,322,688 | 126,289,650 | 111,128,774 | 109,790,912 | 101,167,714 | 93,127,708 | −7.9% | |
| Weighted average diluted shares (shares) | 126,322,688 | 126,341,650 | 112,337,216 | 109,790,912 | 101,253,607 | 93,127,708 | −8.0% | |
| Gross margin | 64.3% | 66.8% | 68.0% | 73.6% | 77.1% | 79.2% | +2.1 pts | |
| Operating margin | −51.3% | −27.8% | −25.1% | −16.4% | −12.4% | −4.3% | +8.1 pts | |
| Net margin | −51.4% | −26.4% | −22.0% | −21.8% | −20.9% | −1.9% | +19.0 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.
