| CNY millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 3,407.6 | 2,143.2 | 1,824.6 | 1,925.4 | 1,623.3 | 1,390.1 | −14.4% | |
| Depreciation & amortization | 170.3 | 431.2 | 424.0 | 352.6 | 304.5 | 273.4 | −10.2% | |
| Stock-based compensation | 211.2 | 206.1 | 168.9 | 195.1 | 192.0 | 219.0 | +14.0% | |
| Change in working capital | (593.6) | 735.4 | 120.2 | 112.4 | (801.9) | (970.6) | −21.0% | |
| Operating cash flow | 3,325.6 | 3,523.9 | 2,565.1 | 2,451.4 | 1,373.1 | 889.5 | −35.2% | |
| Capital expenditure | (264.5) | (219.6) | (117.5) | (78.9) | (140.0) | (118.1) | +15.7% | |
| Acquisitions | (639.8) | (77.4) | (400.0) | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (2,985.5) | (3,813.0) | (3,109.4) | 1,000.3 | (3,051.7) | 2,151.8 | +170.5% | |
| Dividends paid | (651.1) | (673.4) | (421.7) | (491.0) | (1,480.8) | (1,481.2) | −0.0% | |
| Share buybacks | 0.0 | (31.2) | (719.1) | (633.8) | (223.1) | (1,052.0) | −371.6% | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Financing cash flow | (547.0) | 2,898.3 | (1,140.1) | (1,124.5) | (1,701.8) | (2,533.2) | −48.9% | |
| Free cash flow | 3,061.2 | 3,304.3 | 2,447.5 | 2,372.5 | 1,233.1 | 771.4 | −37.4% | |
| Net change in cash | (224.4) | 2,562.4 | (1,516.1) | 2,312.7 | (3,341.0) | 467.8 | +114.0% |
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.
