| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59.5 | 93.9 | 130.6 | 247.6 | 393.8 | 431.8 | +9.7% | |
| Cost of revenue | 19.3 | 31.7 | 31.5 | 91.7 | 153.9 | 188.8 | +22.7% | |
| Gross profit | 40.2 | 62.2 | 99.1 | 155.9 | 239.9 | 243.0 | +1.3% | |
| Research & development | 6.9 | 9.0 | 10.4 | 11.0 | 12.7 | 16.5 | +30.3% | |
| Selling, general & administrative | 42.7 | 46.3 | 58.3 | 86.3 | 118.9 | 133.4 | +12.3% | |
| Selling & marketing | 41.2 | 44.8 | 54.3 | 82.2 | 111.3 | 125.3 | +12.6% | |
| Operating expenses | 49.6 | 55.3 | 68.7 | 97.2 | 131.5 | 149.9 | +14.0% | |
| Operating income | (9.4) | 6.9 | 30.4 | 58.7 | 108.4 | 93.1 | −14.1% | |
| Interest expense | 0.8 | 1.2 | 0.1 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 2.5 | 3.1 | 4.0 | 10.2 | 20.6 | 25.6 | +24.5% | |
| Other income / expense | 2.2 | 2.8 | 5.9 | 13.2 | 24.3 | 26.5 | +9.0% | |
| Pre-tax income | (7.2) | 9.7 | 36.3 | 71.9 | 132.7 | 119.6 | −9.9% | |
| Income tax | 0.0 | 1.9 | 4.7 | 11.8 | 20.3 | 21.7 | +7.2% | |
| Net income | (7.2) | 7.8 | 31.5 | 60.0 | 112.4 | 97.8 | −13.0% | |
| 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) | (6.04) | 6.20 | 24.96 | 44.32 | 81.24 | 69.16 | −14.9% | |
| EPS, diluted (per share) | (6.04) | 5.44 | 21.92 | 41.12 | 76.00 | 65.24 | −14.2% | |
| EBITDA | (8.7) | 12.4 | 38.5 | 72.7 | 133.4 | 122.4 | −8.2% | |
| Depreciation & amortization | 0.7 | 1.5 | 2.2 | 0.8 | 0.7 | 3.0 | +323.3% | |
| Weighted average shares (shares) | 1,188,699,000 | 1,253,162,750 | 1,264,385,000 | 1,354,026,500 | 1,384,012,250 | 1,397,732,500 | +1.0% | |
| Weighted average diluted shares (shares) | 1,192,085,750 | 1,428,441,000 | 1,440,322,750 | 1,459,907,500 | 1,479,148,000 | 1,482,394,000 | +0.2% | |
| Gross margin | 67.6% | 66.2% | 75.9% | 63.0% | 60.9% | 56.3% | −4.6 pts | |
| Operating margin | −15.8% | 7.3% | 23.3% | 23.7% | 27.5% | 21.6% | −6.0 pts | |
| Net margin | −12.1% | 8.3% | 24.2% | 24.2% | 28.5% | 22.7% | −5.9 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.
