| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 426.0 | (219.8) | (653.3) | (278.4) | (138.4) | (199.6) | −44.2% | |
| Depreciation & amortization | 177.0 | 230.6 | 204.4 | 251.6 | 244.9 | 221.7 | −9.4% | |
| Stock-based compensation | 108.4 | 196.5 | 142.4 | 103.4 | 76.3 | 19.9 | −73.9% | |
| Change in working capital | (66.2) | (666.0) | (35.4) | 262.0 | (266.6) | (51.8) | +80.6% | |
| Operating cash flow | 310.0 | (96.1) | 382.6 | 448.3 | 101.3 | 420.4 | +315.1% | |
| Capital expenditure | (111.1) | (285.6) | (207.0) | (165.0) | (208.3) | (153.8) | +26.1% | |
| Acquisitions | (0.1) | (208.4) | (77.7) | (104.6) | (63.9) | 4.7 | +107.3% | |
| Investing cash flow | (616.4) | 375.8 | (1,306.7) | (340.4) | (817.6) | (898.6) | −9.9% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | (1.1) | (1.1) | 0.0 | +100.0% | |
| Share buybacks | 0.0 | (1,060.4) | (446.6) | 0.0 | (95.5) | (10.2) | +89.3% | |
| Debt issued / repaid | (429.2) | 548.5 | (1,760.0) | 99.7 | 105.2 | (19.6) | −118.6% | |
| Financing cash flow | 2,666.8 | 750.0 | (1,650.4) | (8.0) | (19.7) | (107.5) | −444.6% | |
| Free cash flow | 199.0 | (381.7) | 175.6 | 283.2 | (107.0) | 266.6 | +349.2% | |
| Net change in cash | 2,204.2 | 968.7 | (2,454.0) | 106.6 | (708.0) | (596.0) | +15.8% |
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.
