Financial Statements — HERE
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 |
|---|
| Cash & Equivalents | 0.83 | 0.78 | 0.11 |
| Short-term Investments | 0.19 | 0.25 | 0.17 |
| Accounts Receivable | 0.05 | 0.02 | 0.00 |
| Inventory | 0.00 | 0.01 | -- |
| Total Current Assets | 1.31 | 0.18 | 0.15 |
| Property, Plant & Equipment | 0.00 | 0.00 | 0.01 |
| Goodwill | 0.19 | 0.01 | -- |
| Intangible Assets | 0.07 | -- | -- |
| Total Non-current Assets | 0.35 | 0.01 | 0.11 |
| Total Assets | 0.23 | 1.43 | 0.17 |
| Accounts Payable | 0.05 | 0.06 | 0.06 |
| Short-term Debt | 0.01 | -- | -- |
| Total Current Liabilities | 0.09 | 0.87 | 0.94 |
| Total Non-current Liabilities | 0.11 | 0.01 | 0.01 |
| Total Liabilities | 0.73 | 0.91 | 0.14 |
| Retained Earnings | (0.23) | (0.08) | (0.97) |
| Total Stockholder Equity | 0.11 | 0.52 | 0.03 |
Income Statement
(in billions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 |
|---|
| Total Revenue | 0.09 | 0.16 | 0.42 |
| Cost of Revenue | 0.50 | 0.55 | 0.39 |
| Gross Profit | 2.22 | 3.25 | 2.69 |
| Research & Development | 0.10 | 0.02 | 0.22 |
| Selling, General & Admin | 0.02 | 0.02 | 0.02 |
| Total Operating Expenses | 1.82 | 0.39 | 0.39 |
| Operating Income | 0.40 | 0.05 | (0.11) |
| Pretax Income | 0.47 | 0.42 | (0.09) |
| Tax Provision | 0.02 | 0.00 | 0.00 |
| Net Income | 0.36 | 0.05 | (0.11) |
| Basic EPS | 2.22 | 0.32 | (1.26) |
| Diluted EPS | 2.17 | 0.31 | (0.17) |
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 |
|---|
| Operating Cash Flow | 25.67 | 282.72 | 235.62 |
| Capital Expenditures | 0.43 | 3.64 | 0.79 |
| Free Cash Flow* | 25.24 | 279.08 | 234.83 |
| Investing Cash Flow | (6.42) | (18.27) | 0.03 |
| Financing Cash Flow | (105.63) | (17.92) | 34.16 |
* Derived from reported values
