| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12.5 | 27.9 | 209.7 | 222.0 | 980.7 | 558.5 | −43.1% | |
| Cost of revenue | 2.0 | 3.3 | 22.0 | 30.5 | 29.1 | 131.7 | +352.9% | |
| Gross profit | 10.5 | 24.6 | 187.7 | 191.4 | 951.6 | 426.7 | −55.2% | |
| Research & development | 564.6 | 766.5 | 743.1 | 707.0 | 947.2 | 1,083.2 | +14.4% | |
| Selling, general & administrative | 64.1 | 191.3 | 328.0 | 376.5 | 383.1 | 522.7 | +36.4% | |
| Selling & marketing | 1.4 | 47.7 | 157.4 | 195.4 | 196.0 | 0.0 | −100.0% | |
| Operating expenses | 674.4 | 957.8 | 1,037.5 | 1,064.1 | 1,321.3 | 1,605.9 | +21.5% | |
| Operating income | (663.9) | (869.8) | (849.8) | (872.6) | (369.7) | (1,179.2) | −218.9% | |
| Interest expense | 6.3 | 16.7 | 52.8 | 96.1 | 64.5 | 52.6 | −18.4% | |
| Interest income | 5.2 | 7.1 | 9.7 | 32.4 | 37.8 | 79.9 | +111.1% | |
| Other income / expense | (11.5) | 37.6 | (37.4) | (60.2) | (25.5) | (23.2) | +9.1% | |
| Pre-tax income | (675.4) | (832.2) | (887.2) | (932.9) | (395.3) | (1,202.4) | −204.2% | |
| Income tax | 2.2 | (49.8) | (4.2) | (7.2) | 10.4 | 6.8 | −35.2% | |
| Net income | (677.6) | (782.4) | (882.9) | (925.6) | (405.4) | (1,208.9) | −198.2% | |
| 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) | (50.24) | (49.12) | (53.60) | (52.48) | (5.36) | (13.56) | −153.0% | |
| EPS, diluted (per share) | (50.24) | (49.12) | (53.60) | (52.48) | (5.36) | (13.56) | −153.0% | |
| EBITDA | (652.2) | (798.3) | (787.0) | (743.6) | (237.6) | (1,095.0) | −360.8% | |
| Depreciation & amortization | 17.0 | 17.2 | 47.4 | 93.2 | 93.2 | 84.1 | −9.7% | |
| Weighted average shares (shares) | 13,494,321 | 15,913,457 | 16,479,301 | 17,643,704 | 75,515,500 | 89,032,613 | +17.9% | |
| Weighted average diluted shares (shares) | 13,494,321 | 15,913,457 | 16,479,301 | 17,643,704 | 75,515,500 | 89,032,613 | +17.9% | |
| Gross margin | 84.2% | 88.1% | 89.5% | 86.2% | 97.0% | 76.4% | −20.6 pts | |
| Operating margin | −5,332.9% | −3,116.6% | −405.2% | −393.1% | −37.7% | −211.1% | −173.4 pts | |
| Net margin | −5,442.6% | −2,803.4% | −421.0% | −417.0% | −41.3% | −216.5% | −175.1 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.
