| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25.2 | 30.4 | 35.4 | 38.4 | 44.3 | 47.8 | +7.9% | |
| Cost of revenue | 19.4 | 23.8 | 26.3 | 26.8 | 30.6 | 35.8 | +17.2% | |
| Gross profit | 5.8 | 6.6 | 9.0 | 11.7 | 13.7 | 11.9 | −13.0% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 1.7 | 1.9 | 2.1 | 2.4 | 2.7 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 1.1 | 1.1 | 1.3 | 1.7 | 1.9 | 2.6 | +32.2% | |
| Operating income | 4.8 | 5.5 | 7.7 | 10.0 | 11.8 | 9.4 | −20.4% | |
| Interest expense | 0.0 | 0.1 | 0.2 | 0.3 | 0.3 | 0.2 | −28.4% | |
| Interest income | 0.4 | 0.4 | 0.5 | 0.7 | 1.0 | 0.7 | −26.9% | |
| Other income / expense | 0.3 | 0.2 | 0.6 | 0.7 | (0.0) | 1.5 | +3439.1% | |
| Pre-tax income | 5.0 | 5.7 | 8.3 | 10.7 | 11.7 | 10.8 | −7.6% | |
| Income tax | 0.7 | 1.0 | 1.6 | 1.9 | 2.8 | 1.9 | −34.9% | |
| Net income | 4.3 | 4.8 | 6.8 | 8.7 | 8.8 | 8.8 | +0.2% | |
| 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) | 5.42 | 5.80 | 8.41 | 10.83 | 10.95 | 11.05 | +0.9% | |
| EPS, diluted (per share) | 5.42 | 5.80 | 8.36 | 10.60 | 10.70 | 10.91 | +2.0% | |
| EBITDA | 6.9 | 8.1 | 11.1 | 13.9 | 15.0 | 14.4 | −4.5% | |
| Depreciation & amortization | 1.8 | 2.2 | 2.7 | 2.9 | 3.0 | 3.3 | +8.7% | |
| Weighted average shares (shares) | 796,097,532 | 819,961,265 | 809,442,862 | 825,229,428 | 824,003,000 | 797,635,000 | −3.2% | |
| Weighted average diluted shares (shares) | 796,147,504 | 819,961,265 | 819,961,265 | 838,948,683 | 838,442,000 | 820,803,000 | −2.1% | |
| Gross margin | 23.1% | 21.7% | 25.6% | 30.4% | 31.0% | 25.0% | −6.0 pts | |
| Operating margin | 18.9% | 18.1% | 21.9% | 26.0% | 26.6% | 19.6% | −7.0 pts | |
| Net margin | 17.1% | 15.6% | 19.2% | 22.8% | 19.9% | 18.5% | −1.4 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.
