| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (2.7) | 0.5 | (0.8) | (2.6) | 0.2 | (0.1) | −153.7% | |
| Depreciation & amortization | 1.0 | 1.3 | 1.6 | 1.8 | 1.6 | 2.1 | +33.0% | |
| Stock-based compensation | 0.1 | 0.3 | 0.1 | 0.0 | 0.1 | 0.0 | −82.6% | |
| Change in working capital | (0.5) | (0.5) | 0.6 | (0.2) | (0.3) | (0.7) | −138.3% | |
| Operating cash flow | 0.7 | 1.4 | 2.6 | 2.1 | 2.0 | 1.9 | −4.3% | |
| Capital expenditure | (2.5) | (2.7) | (3.1) | (3.1) | (5.1) | (7.9) | −53.4% | |
| Acquisitions | (1.6) | (1.2) | (0.0) | 0.0 | 0.2 | 0.5 | +143.1% | |
| Investing cash flow | (3.9) | (3.8) | (3.6) | (3.9) | (4.4) | (8.0) | −82.5% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (0.1) | (1.7) | 0.0 | 0.0 | 0.0 | (0.0) | — | |
| Debt issued / repaid | 0.5 | 2.7 | 2.3 | 1.8 | (0.5) | 9.0 | +1781.1% | |
| Financing cash flow | 4.2 | 1.0 | 2.3 | 3.9 | (0.6) | 10.2 | +1728.4% | |
| Free cash flow | (1.8) | (1.3) | (0.5) | (1.0) | (3.1) | (5.9) | −90.5% | |
| Net change in cash | 0.8 | (1.4) | 1.3 | 2.1 | (3.0) | 4.1 | +236.5% |
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.
