| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 168.7 | 225.8 | (338.9) | (271.8) | (193.2) | (39.4) | +79.6% | |
| Depreciation & amortization | 50.2 | 95.5 | 977.9 | 148.1 | 122.1 | 111.0 | −9.2% | |
| Stock-based compensation | 39.6 | 47.2 | 398.9 | 47.7 | 24.2 | 27.7 | +14.4% | |
| Change in working capital | 233.3 | (35.3) | (1,999.8) | 17.3 | 81.8 | 197.2 | +140.9% | |
| Operating cash flow | 465.6 | 334.2 | (835.0) | 93.7 | 52.3 | 353.3 | +575.6% | |
| Capital expenditure | (151.6) | (285.7) | (927.4) | (78.9) | (119.7) | (177.8) | −48.5% | |
| Acquisitions | 39.8 | 0.0 | (3,653.8) | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (535.2) | (295.1) | 2,726.3 | 216.3 | (292.4) | (90.6) | +69.0% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (37.4) | 0.0 | (20.0) | (60.0) | 100.0 | 40.0 | −60.0% | |
| Financing cash flow | (13.2) | 6.2 | (121.9) | (59.3) | 100.3 | 40.2 | −59.9% | |
| Free cash flow | 314.0 | 48.4 | (1,762.4) | 14.8 | (67.5) | 175.5 | +360.1% | |
| Net change in cash | (106.1) | 36.9 | 1,975.3 | 259.6 | (133.8) | 289.2 | +316.1% |
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.
