| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 745.8 | 951.6 | 1,046.2 | 1,084.7 | 1,158.8 | 1,309.1 | +13.0% | |
| Cost of revenue | 636.7 | 822.5 | 899.2 | 925.0 | 1,045.4 | 1,187.2 | +13.6% | |
| Gross profit | 109.1 | 129.1 | 147.1 | 159.7 | 113.4 | 121.9 | +7.4% | |
| Research & development | 16.1 | 16.3 | 16.9 | 16.4 | 17.0 | 22.2 | +30.5% | |
| Selling, general & administrative | 33.6 | 50.3 | 48.8 | 49.8 | 56.8 | 95.9 | +68.8% | |
| Selling & marketing | 27.2 | 38.7 | 37.8 | 40.1 | 48.0 | 84.0 | +75.1% | |
| Operating expenses | 96.8 | 124.9 | 127.4 | 133.7 | 74.7 | 119.1 | +59.4% | |
| Operating income | 12.3 | 4.1 | 19.7 | 26.0 | 38.7 | 2.8 | −92.8% | |
| Interest expense | 1.1 | 1.2 | 2.1 | 2.9 | 2.9 | 2.8 | −3.2% | |
| Interest income | 2.8 | 4.2 | 5.7 | 9.6 | 9.4 | 0.0 | −100.0% | |
| Other income / expense | 38.5 | (6.7) | (5.9) | 5.6 | 12.8 | 22.5 | +76.1% | |
| Pre-tax income | 50.8 | (2.6) | 13.9 | 31.7 | 51.5 | 25.3 | −50.9% | |
| Income tax | 1.5 | 1.9 | 4.2 | 8.4 | 6.9 | 2.2 | −68.3% | |
| Net income | 49.4 | (3.6) | 10.4 | 24.2 | 41.4 | 19.6 | −52.5% | |
| 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) | 32.70 | (2.30) | 6.64 | 15.38 | 27.66 | 13.78 | −50.2% | |
| EPS, diluted (per share) | 31.78 | (2.30) | 6.42 | 15.24 | 26.90 | 12.90 | −52.0% | |
| EBITDA | 58.0 | 4.9 | 23.2 | 42.8 | 47.4 | 36.8 | −22.2% | |
| Depreciation & amortization | 6.1 | 6.2 | 7.2 | 8.3 | 7.8 | 8.7 | +11.7% | |
| Weighted average shares (shares) | 1,510,904,500 | 1,553,718,500 | 1,562,785,500 | 1,572,116,500 | 1,539,799,000 | 1,423,500,000 | −7.6% | |
| Weighted average diluted shares (shares) | 1,554,512,000 | 1,553,718,500 | 1,590,443,000 | 1,585,271,000 | 1,538,000,000 | 1,489,000,000 | −3.2% | |
| Gross margin | 14.6% | 13.6% | 14.1% | 14.7% | 9.8% | 9.3% | −0.5 pts | |
| Operating margin | 1.7% | 0.4% | 1.9% | 2.4% | 3.3% | 0.2% | −3.1 pts | |
| Net margin | 6.6% | −0.4% | 1.0% | 2.2% | 3.6% | 1.5% | −2.1 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.
