Financial Statements — ICG
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 |
|---|
| Cash & Equivalents | 0.22 | 0.32 | 0.10 | 0.10 |
| Short-term Investments | 0.27 | 0.20 | 0.01 | -- |
| Inventory | 0.05 | -- | -- | -- |
| Total Current Assets | 0.60 | 0.72 | 0.11 | 0.12 |
| Property, Plant & Equipment | 0.02 | 0.16 | 0.05 | 0.01 |
| Intangible Assets | 0.01 | 0.00 | 0.00 | -- |
| Total Non-current Assets | 0.06 | 0.37 | 0.03 | 0.12 |
| Total Assets | 1.02 | 1.09 | 0.14 | 0.14 |
| Accounts Payable | 0.02 | 0.02 | 0.02 | 0.01 |
| Total Current Liabilities | 0.01 | 0.01 | 0.00 | 0.00 |
| Total Non-current Liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 0.04 | 0.08 | 0.00 | 0.00 |
| Retained Earnings | 0.71 | 0.76 | 0.10 | 0.11 |
| Total Stockholder Equity | 0.98 | 0.14 | 0.95 | 0.93 |
Income Statement
(in millions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 |
|---|
| Total Revenue | 220.86 | 281.77 | 82.23 | 473.74 |
| Cost of Revenue | 204.90 | 130.45 | 73.15 | 12.62 |
| Gross Profit | 15.96 | 151.32 | 1.28 | 386.72 |
| Research & Development | 11.05 | 14.99 | 5.96 | 48.39 |
| Selling, General & Admin | 34.45 | 4.14 | 3.55 | 11.56 |
| Total Operating Expenses | 120.64 | 148.37 | 10.43 | 9.28 |
| Operating Income | (104.68) | 0.40 | (64.97) | 46.79 |
| Interest Expense | -- | -- | -- | 0.07 |
| Pretax Income | (83.85) | 50.18 | (35.55) | 367.06 |
| Tax Provision | (36.32) | (1.32) | (8.76) | 11.86 |
| Net Income | (47.53) | 51.50 | (26.79) | 355.20 |
| Basic EPS | (0.39) | 0.43 | (0.03) | 0.44 |
| Diluted EPS | (0.39) | 0.43 | (0.03) | 0.44 |
Cash Flow Statement
(in millions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 |
|---|
| Operating Cash Flow | (92.93) | (18.94) | (0.66) | 47.37 |
| Capital Expenditures | 4.72 | 10.08 | 6.61 | 4.02 |
| Free Cash Flow* | (97.64) | (29.02) | (7.27) | 43.35 |
| Investing Cash Flow | (12.31) | (125.94) | (9.15) | (16.95) |
| Financing Cash Flow | 7.39 | 0.00 | 51.22 | 0.00 |
* Derived from reported values
