Financial Statements — SOGP
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.66 | 0.44 | 0.07 | 0.08 | 0.08 | 0.32 | 0.01 |
| Short-term Investments | -- | -- | -- | 0.11 | 0.00 | 0.01 | -- |
| Accounts Receivable | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
| Total Current Assets | 0.71 | 0.49 | 0.08 | 0.10 | 0.09 | 0.42 | 0.10 |
| Property, Plant & Equipment | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
| Intangible Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-current Assets | 0.04 | 0.03 | 0.03 | 0.05 | 0.01 | 0.01 | 0.01 |
| Total Assets | 0.11 | 0.07 | 0.57 | 0.11 | 0.64 | 0.07 | 0.02 |
| Accounts Payable | 0.06 | 0.04 | 0.04 | 0.01 | 0.08 | 0.08 | 0.07 |
| Short-term Debt | -- | 0.00 | -- | 0.01 | 0.07 | 0.01 | -- |
| Total Current Liabilities | 0.05 | 0.04 | 0.04 | 0.37 | 0.06 | 0.29 | 0.19 |
| Total Non-current Liabilities* | 0.01 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 |
| Total Liabilities | 0.38 | 0.31 | 0.28 | 0.38 | 0.06 | 0.29 | 0.19 |
| Retained Earnings | (2.31) | (2.49) | (2.41) | (2.28) | (2.37) | (2.24) | (0.29) |
| Total Stockholder Equity | 0.40 | 0.24 | 0.04 | 0.06 | 0.25 | 0.03 | (2.00) |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 3,102.75 | 278.36 | 2,071.77 | 316.83 | 2,119.51 | 230.33 | 169.58 |
| Cost of Revenue | 314.25 | 1,474.95 | 209.36 | 212.97 | 235.78 | 173.90 | 130.74 |
| Gross Profit | 905.16 | 556.86 | 82.45 | 103.86 | 96.82 | 56.43 | 270.44 |
| Research & Development | 34.35 | 232.69 | 42.46 | 283.35 | 264.71 | 34.53 | 158.01 |
| Selling, General & Admin | 100.25 | 106.59 | 193.91 | 15.47 | 16.42 | 13.62 | 6.57 |
| Total Operating Expenses | 688.16 | 88.58 | 103.25 | 94.20 | 118.56 | 70.03 | 59.22 |
| Operating Income | 217.00 | (12.29) | (20.80) | 66.65 | (21.74) | (13.59) | (141.84) |
| Interest Expense | -- | -- | 0.22 | -- | -- | 2.40 | 1.07 |
| Pretax Income | 223.43 | (77.71) | (134.08) | 12.57 | (126.87) | (12.44) | (19.10) |
| Tax Provision | 2.78 | 3.26 | 0.06 | 0.03 | 0.38 | 1.00 | -- |
| Net Income | 31.55 | (80.98) | (134.51) | 86.50 | (19.97) | (12.59) | (19.10) |
| Basic EPS | 0.03 | (0.07) | (0.12) | 0.01 | (0.02) | (0.27) | (0.59) |
| Diluted EPS | 0.24 | (0.07) | (0.02) | 0.01 | (0.02) | (0.27) | (0.59) |
Cash Flow Statement
(in millions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 280.03 | (26.47) | (117.04) | 136.27 | (6.34) | 40.00 | (95.75) |
| Capital Expenditures | 0.49 | 11.07 | 5.96 | 1.70 | 20.08 | 3.26 | 4.00 |
| Free Cash Flow* | 279.54 | (37.54) | (123.01) | 134.57 | (26.42) | 36.74 | (99.76) |
| Investing Cash Flow | (3.80) | (11.97) | 14.88 | (122.78) | 8.18 | (14.49) | (4.22) |
| Financing Cash Flow | (66.20) | (2.99) | (10.09) | 0.69 | 33.37 | 298.05 | 237.79 |
* Derived from reported values
