Financial Statements — IH
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Cash & Equivalents | 1.15 | 1.12 | 1.21 | 1.05 | 0.86 | 0.86 |
| Short-term Investments | -- | 0.05 | -- | -- | -- | -- |
| Accounts Receivable | 0.01 | 0.05 | 0.01 | 0.08 | 0.06 | 0.01 |
| Inventory | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 |
| Total Current Assets | 0.19 | 0.18 | 1.38 | 1.25 | 1.02 | 1.02 |
| Property, Plant & Equipment | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| Intangible Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 0.01 |
| Total Non-current Assets | 0.07 | 0.08 | 0.07 | 0.01 | 0.01 | 0.03 |
| Total Assets | 1.37 | 1.42 | 0.20 | 1.33 | 1.10 | 0.16 |
| Accounts Payable | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Liabilities | 0.36 | 0.45 | 0.07 | 0.56 | 0.48 | 0.06 |
| Total Non-current Liabilities | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 0.05 | 0.06 | 0.07 | 0.08 | 0.49 | 0.06 |
| Retained Earnings | 0.05 | (0.04) | (0.02) | (0.32) | (0.42) | (0.06) |
| Total Stockholder Equity | 1.00 | 0.96 | 0.13 | 0.11 | 0.10 | 0.64 |
Income Statement
(in billions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Total Revenue | 0.81 | 0.92 | 1.02 | 0.14 | 0.94 | 0.53 |
| Cost of Revenue* | 0.04 | 0.28 | 0.04 | 0.04 | 0.04 | 0.17 |
| Gross Profit | 0.55 | 0.64 | 0.72 | 0.10 | 0.10 | 0.37 |
| Research & Development | 0.03 | 0.25 | 0.04 | 0.05 | 0.07 | 0.03 |
| Selling, General & Admin | 0.09 | 0.10 | 0.01 | 0.11 | 0.10 | 0.11 |
| Total Operating Expenses | 0.48 | 0.57 | 0.08 | 0.08 | 0.11 | 0.06 |
| Operating Income | 0.01 | 0.07 | 0.02 | 0.02 | (0.01) | (0.04) |
| Pretax Income | 0.10 | 0.02 | 0.20 | 0.02 | (0.01) | (0.01) |
| Tax Provision | 0.01 | 0.01 | 0.02 | 0.00 | -0.00 | 0.00 |
| Net Income | 0.10 | 0.10 | 0.03 | 0.11 | (0.04) | (0.01) |
| Basic EPS | 0.37 | 0.38 | 0.69 | 0.41 | (0.14) | -- |
| Diluted EPS | 0.36 | 0.05 | 0.09 | 0.06 | (0.02) | -- |
* Derived from reported values
Cash Flow Statement
(in millions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Operating Cash Flow | 51.32 | 58.55 | 172.12 | 27.32 | 6.00 | 34.18 |
| Capital Expenditures | 4.90 | 7.45 | 6.51 | 0.96 | 32.28 | 15.91 |
| Free Cash Flow* | 46.41 | 51.10 | 165.61 | 26.37 | (26.29) | 18.27 |
| Investing Cash Flow | 40.55 | (52.76) | (6.51) | (32.84) | (31.95) | (15.91) |
| Financing Cash Flow | (56.09) | (102.28) | (9.45) | (1.01) | 0.06 | 87.66 |
* Derived from reported values
