Financial Statements — IQ
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 4.35 | 3.53 | 4.43 | 7.10 | 0.47 | 10.92 | 0.85 |
| Short-term Investments | 0.31 | 0.94 | 0.13 | 0.82 | 1.35 | 0.51 | 0.66 |
| Accounts Receivable | 0.36 | 2.19 | 0.31 | 0.35 | 2.75 | 3.34 | 0.52 |
| Total Current Assets | 1.47 | 9.53 | 12.64 | 13.79 | 11.52 | 22.29 | 2.91 |
| Property, Plant & Equipment | 0.90 | 0.88 | 0.12 | 0.16 | 0.21 | 0.21 | 0.25 |
| Goodwill | 0.55 | 0.52 | 0.54 | 0.55 | 0.61 | 0.60 | 3.89 |
| Intangible Assets | 0.03 | 0.29 | 0.31 | 0.06 | 0.09 | 0.09 | 0.74 |
| Total Non-current Assets | 36.39 | 36.23 | 31.96 | 32.26 | 30.95 | 3.97 | 3.52 |
| Total Assets | 46.68 | 45.76 | 6.28 | 6.68 | 42.47 | 48.19 | 44.79 |
| Short-term Debt | 0.36 | 3.79 | 0.50 | 3.35 | 4.12 | 2.97 | 0.38 |
| Total Current Liabilities | 3.16 | 21.48 | 3.15 | 28.13 | 22.48 | 3.81 | 20.17 |
| Total Non-current Liabilities | 11.31 | 10.91 | 10.07 | 1.68 | 14.32 | 2.13 | 2.14 |
| Total Liabilities | 33.37 | 32.39 | 32.41 | 5.76 | 36.80 | 38.74 | 5.04 |
| Retained Earnings | (6.29) | (43.81) | (6.28) | (46.50) | (47.16) | (6.28) | (33.83) |
| Total Stockholder Equity* | 13.31 | 13.37 | (26.13) | 0.92 | 5.67 | 9.44 | 39.75 |
* Derived from reported values
Income Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 3.90 | 29.23 | 31.87 | 4.20 | 4.79 | 29.71 | 4.16 |
| Cost of Revenue | 21.54 | 21.95 | 23.10 | 3.24 | 4.32 | 4.27 | 4.36 |
| Gross Profit | 5.75 | 7.27 | 8.77 | 6.68 | 3.04 | 1.82 | (1.35) |
| Research & Development | 1.66 | 1.78 | 0.25 | 0.28 | 0.44 | 0.41 | 0.38 |
| Selling, General & Admin | 0.55 | 3.68 | 0.57 | 3.47 | 0.74 | 0.80 | 0.75 |
| Total Operating Expenses | 5.52 | 5.46 | 5.78 | 5.37 | 1.18 | 7.86 | 7.90 |
| Operating Income | 0.23 | 1.81 | 0.42 | 0.19 | (0.70) | (0.93) | (1.33) |
| Interest Expense | -- | -- | 1.13 | 0.72 | 0.21 | 0.16 | 0.91 |
| Pretax Income | (0.06) | 0.85 | 2.03 | (0.03) | (0.94) | (6.98) | (1.47) |
| Tax Provision | 0.14 | 0.06 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 |
| Net Income | (0.21) | 0.76 | 1.93 | (0.14) | (6.17) | (1.08) | (1.48) |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 0.11 | 2.11 | 0.47 | (0.07) | (5.95) | (5.41) | 3.91 |
| Capital Expenditures | 0.01 | 0.08 | 0.04 | 0.03 | 0.04 | 0.04 | 0.74 |
| Free Cash Flow* | 0.09 | 2.03 | 0.44 | (0.10) | (5.99) | (5.45) | 3.17 |
| Investing Cash Flow | (0.33) | (2.44) | (1.74) | 0.27 | 0.20 | 0.16 | (1.69) |
| Financing Cash Flow | 1.06 | (0.19) | (0.60) | 0.65 | (0.46) | 9.37 | 1.13 |
* Derived from reported values
