| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.6 | 9.5 | 11.3 | 12.6 | 13.1 | 13.2 | +1.0% | |
| Cost of revenue | 1.3 | 1.9 | 2.2 | 2.2 | 2.7 | 2.8 | +4.4% | |
| Gross profit | 6.2 | 7.6 | 9.1 | 10.4 | 10.4 | 10.4 | +0.1% | |
| Research & development | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.0 | −100.0% | |
| Selling, general & administrative | 0.9 | 2.1 | 2.1 | 2.3 | 2.4 | 0.0 | −100.0% | |
| Selling & marketing | 0.5 | 1.6 | 1.7 | 1.9 | 2.0 | 0.0 | −100.0% | |
| Operating expenses | 3.9 | 5.0 | 6.6 | 8.1 | 7.8 | 7.5 | −4.3% | |
| Operating income | 2.3 | 2.6 | 2.5 | 2.4 | 2.5 | 2.9 | +13.7% | |
| Interest expense | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 1.3 | 0.0 | 0.0 | 0.0 | 0.0 | 1.3 | — | |
| Other income / expense | 0.1 | 0.1 | 0.2 | 0.4 | 0.3 | 0.1 | −56.9% | |
| Pre-tax income | 2.4 | 2.7 | 2.7 | 2.8 | 2.8 | 3.0 | +6.0% | |
| Income tax | 0.5 | 0.2 | 0.5 | 0.4 | 0.5 | 0.5 | +18.3% | |
| Net income | 2.0 | 2.5 | 2.3 | 2.3 | 2.4 | 2.5 | +3.8% | |
| 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) | 6.70 | 8.85 | 8.00 | 8.50 | 9.25 | 9.80 | +5.9% | |
| EPS, diluted (per share) | 6.60 | 8.45 | 7.80 | 8.35 | 9.05 | 9.35 | +3.3% | |
| EBITDA | 2.4 | 2.7 | 2.6 | 2.5 | 2.6 | 3.1 | +18.5% | |
| Depreciation & amortization | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | +3.0% | |
| Weighted average shares (shares) | 295,432,598 | 284,174,200 | 282,529,800 | 280,339,600 | 263,331,000 | 251,970,000 | −4.3% | |
| Weighted average diluted shares (shares) | 298,265,084 | 296,500,400 | 290,858,200 | 280,589,600 | 264,045,800 | 266,847,600 | +1.1% | |
| Gross margin | 82.5% | 79.9% | 80.6% | 82.8% | 79.3% | 78.6% | −0.7 pts | |
| Operating margin | 30.5% | 27.4% | 22.3% | 18.9% | 19.4% | 21.8% | +2.4 pts | |
| Net margin | 26.1% | 26.3% | 20.1% | 18.6% | 18.2% | 18.7% | +0.5 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.
