Financial Statements — CCM
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.04 | 0.22 | 0.01 | 0.16 | 0.02 | 0.33 | 0.01 |
| Short-term Investments | 0.00 | 0.13 | -- | -- | -- | -- | 0.00 |
| Accounts Receivable | 0.04 | 0.05 | 0.01 | 0.02 | 0.13 | 0.01 | 0.07 |
| Inventory | 0.05 | 0.03 | 0.04 | 0.08 | 0.04 | 0.02 | 0.00 |
| Total Current Assets | 0.94 | 0.98 | 0.09 | 0.76 | 0.58 | 0.68 | 0.04 |
| Property, Plant & Equipment | 3.72 | 3.70 | 3.55 | 3.26 | 0.49 | 2.56 | 1.90 |
| Goodwill | 0.08 | 0.08 | 0.58 | 0.58 | 0.58 | 0.03 | 0.21 |
| Intangible Assets | 0.04 | 0.04 | 0.05 | 0.05 | 0.10 | 0.08 | 0.08 |
| Total Non-current Assets | 5.61 | 5.74 | 5.44 | 5.25 | 0.89 | 4.66 | 0.58 |
| Total Assets | 6.55 | 6.73 | 6.05 | 0.87 | 6.23 | 5.33 | 0.62 |
| Accounts Payable | 0.02 | 0.20 | 0.02 | 0.02 | 0.02 | 0.00 | 0.01 |
| Short-term Debt | 0.14 | 1.03 | 1.04 | 0.51 | 0.30 | 0.15 | 0.33 |
| Total Current Liabilities | 1.95 | 0.29 | 0.27 | 0.16 | 0.80 | 0.51 | 0.63 |
| Long-term Debt | 2.47 | 2.69 | 1.99 | 2.47 | 2.18 | 1.97 | 1.29 |
| Total Non-current Liabilities | 2.74 | 2.98 | 0.33 | 0.42 | 2.68 | 2.42 | 1.78 |
| Total Liabilities | 4.70 | 0.70 | 0.61 | 0.58 | 0.55 | 0.45 | 0.35 |
| Retained Earnings | (4.47) | (4.37) | (4.06) | (0.55) | (3.28) | (0.38) | (1.79) |
| Total Stockholder Equity | (0.30) | (0.31) | (0.30) | (1.86) | (1.37) | (0.66) | (0.12) |
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 454.33 | 374.60 | 73.33 | 65.26 | 69.54 | 26.07 | 20.08 |
| Cost of Revenue | 62.16 | 463.12 | 86.48 | 90.54 | 542.53 | 209.93 | 214.19 |
| Gross Profit | 25.82 | (79.16) | (76.61) | (22.10) | (8.93) | 13.08 | (15.83) |
| Selling, General & Admin | 30.45 | 404.37 | 46.49 | 45.11 | 347.75 | 294.82 | 45.27 |
| Total Operating Expenses | 287.31 | 453.00 | 54.42 | 372.64 | 401.42 | 50.44 | 60.54 |
| Operating Income | (37.39) | (72.91) | (65.21) | (76.12) | (71.92) | (48.43) | (62.81) |
| Interest Expense | -- | -- | 165.67 | 120.36 | 11.58 | 12.47 | 28.70 |
| Pretax Income | (373.36) | (669.58) | 78.26 | 839.90 | 83.05 | 67.69 | 56.18 |
| Tax Provision | 6.06 | (17.50) | (3.46) | (70.91) | (1.03) | (37.62) | (38.99) |
| Net Income | (92.81) | (42.23) | (41.93) | (70.99) | (42.59) | (47.51) | (307.05) |
| Basic EPS | (0.10) | (0.32) | (2.27) | (0.54) | -- | -- | -- |
| Diluted EPS | (0.10) | (2.35) | (2.27) | (0.54) | -- | -- | -- |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (0.03) | (0.40) | (0.04) | (0.22) | (0.36) | (0.04) | (0.20) |
| Capital Expenditures | 0.06 | 0.15 | 0.02 | 0.03 | 0.04 | 0.03 | 0.03 |
| Free Cash Flow* | (0.09) | (0.55) | (0.05) | (0.25) | (0.40) | (0.06) | (0.23) |
| Investing Cash Flow | 0.05 | (0.59) | (0.01) | (0.02) | (0.57) | (0.53) | (0.15) |
| Financing Cash Flow | 0.20 | 1.15 | 0.04 | 0.06 | 0.64 | 1.14 | 0.51 |
* Derived from reported values
