Financial Statements — FENG
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.54 | 0.61 | 0.53 | 0.10 | 0.19 | 0.36 | 0.05 |
| Accounts Receivable | 0.29 | 0.33 | 0.29 | 0.43 | 0.46 | 0.10 | 0.09 |
| Total Current Assets | 1.42 | 1.47 | 1.48 | 1.66 | 2.08 | 2.42 | 2.56 |
| Property, Plant & Equipment | 0.01 | 0.00 | 0.01 | 0.01 | 0.03 | 0.06 | 0.10 |
| Goodwill | -- | -- | -- | -- | -- | -- | 0.05 |
| Intangible Assets | 0.01 | 0.01 | 0.02 | 0.03 | 0.02 | 0.01 | 0.01 |
| Total Non-current Assets | 0.23 | 0.24 | 0.28 | 0.37 | 0.33 | 0.35 | 2.77 |
| Total Assets | 1.65 | 1.71 | 1.76 | 2.03 | 2.41 | 2.77 | 5.33 |
| Accounts Payable | 0.12 | 0.14 | 0.12 | 0.18 | 0.22 | 0.03 | 0.26 |
| Total Current Liabilities | 0.50 | 0.54 | 0.53 | 0.66 | 0.97 | 1.06 | 1.51 |
| Total Non-current Liabilities | 0.04 | 0.06 | 0.07 | 0.10 | 0.05 | 0.05 | 0.28 |
| Total Liabilities | 0.54 | 0.60 | 0.60 | 0.77 | 1.02 | 0.17 | 1.78 |
| Retained Earnings | (0.57) | (0.57) | (0.51) | (0.41) | (0.30) | (0.09) | 0.19 |
| Total Stockholder Equity | 1.17 | 1.18 | 1.23 | 1.32 | 1.43 | 1.64 | 3.33 |
Income Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 0.77 | 0.70 | 0.69 | 0.79 | 1.03 | 1.21 | 0.22 |
| Cost of Revenue | 0.39 | 0.43 | 0.46 | 0.55 | 0.60 | 0.56 | 0.11 |
| Gross Profit | 0.37 | 0.27 | 0.23 | 0.24 | 0.43 | 0.65 | 0.76 |
| Research & Development | 0.06 | 0.07 | 0.08 | 0.13 | 0.16 | 0.17 | 0.24 |
| Selling, General & Admin | 0.07 | 0.08 | 0.11 | 0.09 | 0.33 | 0.28 | 0.04 |
| Total Operating Expenses | 0.41 | 0.33 | 0.35 | 0.43 | 0.77 | 0.12 | 0.15 |
| Operating Income | (0.03) | (0.06) | (0.13) | (0.19) | (0.34) | (0.02) | (0.04) |
| Interest Expense | -- | -- | -- | -- | -- | -- | 0.01 |
| Pretax Income | 0.01 | (0.05) | (0.10) | (0.20) | (0.25) | 0.45 | 0.74 |
| Tax Provision | 0.01 | 0.00 | 0.01 | (0.07) | 0.02 | 0.02 | 0.02 |
| Net Income | 0.00 | (0.05) | (0.11) | (0.13) | (0.27) | 0.06 | 0.10 |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | -0.00 | (0.04) | (0.06) | (0.31) | (0.14) | (0.02) | (0.33) |
| Capital Expenditures | 0.01 | 0.01 | 0.01 | 0.03 | 0.02 | 0.00 | 0.08 |
| Free Cash Flow* | (0.02) | (0.05) | (0.07) | (0.35) | (0.16) | (0.02) | (0.41) |
| Investing Cash Flow | (0.06) | 0.13 | 0.49 | 0.23 | (0.04) | 0.75 | 1.46 |
| Financing Cash Flow | -0.00 | -0.00 | -0.00 | 0.00 | -0.00 | (0.10) | (0.16) |
* Derived from reported values
