| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Cash & cash equivalents | 22.4 | 6.4 | 34.3 | 59.8 | 57.8 | 182.8 | +216.5% | |
| Cash & short-term investments | 87.0 | 92.9 | 149.4 | 217.2 | 331.6 | 496.5 | +49.7% | |
| Receivables | 3.9 | 3.5 | 3.4 | 7.4 | 12.2 | 15.3 | +26.1% | |
| Inventory | 1.7 | 0.0 | 0.0 | (0.1) | 1.6 | 0.0 | −100.0% | |
| Total current assets | 149.5 | 160.9 | 216.6 | 294.8 | 415.6 | 519.3 | +24.9% | |
| Property, plant & equipment | 0.8 | 3.1 | 2.5 | 5.1 | 5.9 | 6.2 | +3.9% | |
| Goodwill & intangibles | 1.3 | 0.7 | 0.1 | 0.0 | 0.0 | 0.0 | −19.7% | |
| Long-term investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Total assets | 158.9 | 181.2 | 237.1 | 348.1 | 505.0 | 630.4 | +24.8% | |
| Payables | 55.0 | 64.5 | 67.3 | 91.9 | 119.9 | 107.5 | −10.4% | |
| Short-term debt | 1.9 | 0.0 | 13.9 | 0.6 | 5.3 | 2.5 | −52.9% | |
| Total current liabilities | 83.9 | 93.7 | 116.9 | 152.9 | 188.4 | 212.4 | +12.7% | |
| Long-term debt | 14.4 | 11.8 | 1.6 | 5.2 | 0.0 | 0.0 | — | |
| Total debt | 17.0 | 12.8 | 16.9 | 10.2 | 10.6 | 5.4 | −49.3% | |
| Net debt | (5.5) | 6.3 | (17.4) | (49.6) | (47.2) | (177.5) | −276.3% | |
| Deferred revenue | 2.4 | 1.2 | 1.4 | 2.1 | 2.9 | 3.4 | +14.7% | |
| Total liabilities | 98.7 | 106.1 | 119.3 | 160.8 | 191.7 | 215.3 | +12.3% | |
| Total equity | 60.2 | 75.1 | 117.8 | 187.2 | 313.3 | 415.2 | +32.5% | |
| Retained earnings | (25.5) | (17.7) | 15.2 | 75.1 | 187.7 | 285.9 | +52.3% |
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.
