Financial Statements — SY
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.42 | 0.08 | 0.06 | 0.10 | 0.21 | 1.13 | 0.88 |
| Accounts Receivable | 0.05 | 0.10 | 0.06 | 0.01 | 0.05 | 0.01 | 0.03 |
| Inventory | 0.23 | 0.02 | 0.02 | 0.02 | 0.09 | -- | -- |
| Total Current Assets | 0.21 | 0.24 | 1.72 | 0.28 | 0.32 | 0.43 | 0.42 |
| Property, Plant & Equipment | 0.29 | 0.16 | 0.02 | 0.02 | 0.12 | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.08 | 0.08 | 0.54 | 0.01 | -- |
| Intangible Assets | 0.14 | 0.13 | 0.02 | 0.02 | 0.03 | 0.06 | -- |
| Total Non-current Assets | 1.17 | 1.01 | 1.49 | 0.19 | 0.20 | 0.08 | 0.27 |
| Total Assets | 0.38 | 0.37 | 0.45 | 3.20 | 3.33 | 3.29 | 3.23 |
| Short-term Debt | 0.04 | 0.07 | 0.00 | -- | -- | -- | -- |
| Total Current Liabilities | 0.78 | 0.09 | 0.08 | 0.08 | 0.11 | 0.09 | 0.07 |
| Total Non-current Liabilities | 0.20 | 0.15 | 0.11 | 0.05 | 0.10 | 0.10 | 0.12 |
| Total Liabilities | 0.14 | 0.11 | 0.65 | 0.09 | 0.13 | 0.10 | 0.08 |
| Retained Earnings | (0.17) | (0.93) | (0.33) | (0.05) | (0.27) | (0.25) | (0.26) |
| Total Stockholder Equity | 1.55 | 1.84 | 2.44 | 2.50 | 2.45 | 2.60 | 0.38 |
Income Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 217.84 | 1,466.70 | 210.99 | 182.38 | 1,692.46 | 198.47 | 1,151.64 |
| Cost of Revenue | 113.79 | 567.59 | 76.67 | 393.29 | 51.45 | 212.21 | 198.63 |
| Gross Profit | 727.69 | 899.11 | 953.69 | 864.58 | 1,364.57 | 1,082.78 | 136.89 |
| Research & Development | 137.04 | 22.61 | 28.67 | 235.09 | 44.97 | 35.13 | 25.46 |
| Selling, General & Admin | -- | 324.07 | 290.77 | 37.73 | 252.21 | 183.99 | 160.53 |
| Total Operating Expenses | 1,013.86 | 1,523.61 | 1,014.74 | 967.39 | 219.24 | 174.63 | 807.83 |
| Operating Income | (40.92) | (624.49) | (8.60) | (14.91) | (5.11) | (8.69) | 20.85 |
| Pretax Income | (246.11) | (588.09) | 1.11 | (87.07) | (2.57) | 0.02 | 226.46 |
| Tax Provision | 0.11 | (0.12) | (2.55) | (3.04) | 21.23 | (0.73) | 49.74 |
| Net Income | (242.30) | (80.76) | 3.00 | (9.50) | (1.31) | 0.89 | 25.38 |
Cash Flow Statement
(in millions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (105.39) | (3.51) | 22.50 | (16.36) | 13.23 | 27.46 | 383.82 |
| Capital Expenditures | 196.62 | 62.55 | 51.18 | 2.28 | 45.06 | 36.96 | 5.39 |
| Free Cash Flow* | (302.01) | (66.06) | (28.67) | (18.64) | (31.83) | (9.50) | 378.43 |
| Investing Cash Flow | (42.81) | 257.04 | (28.54) | (572.21) | 339.82 | 123.85 | (191.76) |
| Financing Cash Flow | (9.11) | (21.51) | (100.01) | (13.59) | (34.01) | (0.89) | 182.19 |
* Derived from reported values
