Financial Statements — DAO
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.06 | 0.59 | 0.06 | 0.11 | 0.32 | 0.61 | 0.02 |
| Short-term Investments | 0.30 | 0.06 | 0.07 | 0.23 | 0.50 | 0.58 | 0.02 |
| Accounts Receivable | 0.05 | 0.06 | 0.05 | 0.41 | 0.25 | 0.04 | 0.03 |
| Inventory | 0.14 | 0.17 | 0.22 | 0.03 | 0.04 | 0.02 | 0.07 |
| Total Current Assets | 1.72 | 1.49 | 0.18 | 0.27 | 0.36 | 0.28 | 2.03 |
| Property, Plant & Equipment | -- | -- | -- | -- | -- | 0.01 | 0.00 |
| Goodwill | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.01 | -- |
| Total Non-current Assets | 0.04 | 0.04 | 0.37 | 0.41 | 0.36 | 0.03 | 0.01 |
| Total Assets | 0.28 | 1.81 | 0.23 | 2.28 | 0.41 | 2.07 | 2.09 |
| Accounts Payable | 0.11 | 0.15 | 0.16 | 0.04 | 0.03 | 0.02 | 0.01 |
| Total Current Liabilities | 0.42 | 2.95 | 0.44 | 0.46 | 3.03 | 3.39 | 1.76 |
| Total Non-current Liabilities | 0.14 | 0.96 | 0.70 | 0.57 | 0.33 | 0.01 | 0.00 |
| Total Liabilities | 0.56 | 3.90 | 3.80 | 0.54 | 0.53 | 0.53 | 1.79 |
| Total Stockholder Equity* | (0.28) | (2.09) | (3.56) | 1.73 | (0.11) | 1.54 | 0.30 |
* Derived from reported values
Income Statement
(in billions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 5.91 | 5.63 | 5.39 | 5.01 | 0.63 | 0.49 | 1.30 |
| Cost of Revenue | 0.47 | 2.88 | 2.62 | 0.35 | 0.32 | 1.71 | 0.93 |
| Gross Profit | 2.62 | 2.75 | 0.39 | 2.59 | 0.31 | 0.22 | 0.05 |
| Research & Development | 0.51 | 0.54 | 0.10 | 0.80 | 0.61 | 0.42 | 0.28 |
| Selling, General & Admin | 0.20 | 0.19 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 |
| Total Operating Expenses | 2.40 | 2.60 | 0.46 | 0.49 | 2.93 | 0.50 | 0.97 |
| Operating Income | 0.03 | 0.15 | (0.47) | (0.77) | (0.15) | (0.28) | (0.60) |
| Interest Expense | 0.06 | 0.07 | 0.01 | 0.01 | 0.00 | 0.03 | -- |
| Pretax Income | 0.11 | 0.08 | (0.54) | (0.11) | (0.14) | (1.75) | -- |
| Tax Provision | 0.02 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 0.10 | 0.08 | (0.55) | (0.11) | (0.16) | (1.75) | (0.09) |
| Basic EPS | 0.91 | 0.70 | (4.53) | (5.88) | (8.18) | (15.53) | (6.68) |
| Diluted EPS | 0.90 | 0.70 | (4.53) | (0.85) | (1.28) | (15.53) | (0.96) |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 0.01 | (0.07) | (0.44) | (0.09) | (1.35) | (0.32) | (0.05) |
| Capital Expenditures | 0.03 | 0.01 | 0.02 | 0.07 | 0.06 | 0.04 | 0.00 |
| Free Cash Flow* | (0.02) | (0.08) | (0.46) | (0.16) | (1.41) | (0.36) | (0.06) |
| Investing Cash Flow | (0.25) | (0.01) | 0.02 | 0.02 | 0.01 | 0.76 | (1.08) |
| Financing Cash Flow | 0.05 | 0.23 | (0.02) | 0.03 | 0.28 | 0.00 | 0.23 |
* Derived from reported values
