| CNY billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.6 | 4.7 | 6.7 | 8.4 | 11.2 | 12.5 | +11.1% | |
| Cost of revenue | 1.3 | 2.5 | 3.5 | 1.2 | 1.5 | 4.6 | +207.2% | |
| Gross profit | 1.3 | 2.1 | 3.2 | 7.2 | 9.7 | 7.9 | −19.1% | |
| Research & development | 0.4 | 0.7 | 0.9 | 0.9 | 0.9 | 0.9 | −0.6% | |
| Selling, general & administrative | 4.4 | 5.1 | 2.3 | 2.2 | 2.5 | 2.5 | −2.1% | |
| Selling & marketing | 0.5 | 0.8 | 0.9 | 1.2 | 1.6 | 1.7 | +9.5% | |
| Operating expenses | 4.9 | 5.9 | 3.4 | 6.2 | 7.3 | 3.7 | −48.7% | |
| Operating income | (3.6) | (3.8) | (0.2) | 1.0 | 2.5 | 4.1 | +67.5% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 0.2 | 0.2 | 0.5 | 1.1 | 1.1 | 1.0 | −11.1% | |
| Other income / expense | 0.2 | 0.2 | 0.7 | 1.3 | 0.9 | 1.2 | +39.9% | |
| Pre-tax income | (3.5) | (3.6) | 0.5 | 2.3 | 3.4 | 5.4 | +60.2% | |
| Income tax | 0.0 | 0.0 | 0.1 | 0.1 | 0.2 | 0.9 | +288.1% | |
| Net income | (3.5) | (3.7) | 0.4 | 2.2 | 3.1 | 4.4 | +43.6% | |
| 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) | (3.20) | (3.40) | 0.40 | 2.00 | 2.95 | 4.20 | +42.4% | |
| EPS, diluted (per share) | (3.20) | (3.40) | 0.40 | 2.00 | 2.94 | 4.20 | +42.9% | |
| EBITDA | (3.4) | (3.6) | (0.1) | 2.4 | 2.5 | 4.2 | +66.5% | |
| Depreciation & amortization | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | +28.3% | |
| Weighted average shares (shares) | 1,085,845,702 | 1,075,940,255 | 1,075,892,849 | 1,058,117,550 | 1,041,142,000 | 1,041,958,150 | +0.1% | |
| Weighted average diluted shares (shares) | 1,085,845,702 | 1,075,940,255 | 1,078,980,819 | 1,058,117,550 | 1,045,111,000 | 1,046,408,650 | +0.1% | |
| Gross margin | 49.0% | 45.5% | 47.8% | 85.4% | 86.6% | 63.0% | −23.6 pts | |
| Operating margin | −140.1% | −81.5% | −2.4% | 11.8% | 22.0% | 33.2% | +11.2 pts | |
| Net margin | −134.5% | −78.5% | 6.0% | 26.2% | 27.3% | 35.3% | +8.0 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.
