Financial Statements — YMM
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 |
|---|
| Cash & Equivalents | 0.87 | 5.81 | 6.77 | 0.74 | 4.28 |
| Short-term Investments | 1.58 | 15.00 | 1.62 | 3.06 | 21.63 |
| Accounts Receivable | 0.01 | 0.00 | 0.02 | 0.01 | 0.00 |
| Total Current Assets | 23.05 | 3.73 | 24.00 | 31.00 | 4.53 |
| Property, Plant & Equipment | 0.46 | 0.29 | 0.19 | 0.11 | 0.02 |
| Goodwill | 4.03 | 3.12 | 3.12 | 0.45 | 0.49 |
| Intangible Assets | 0.76 | 0.39 | 0.45 | 0.50 | 0.56 |
| Total Non-current Assets | 21.27 | 1.92 | 15.35 | 5.69 | 0.86 |
| Total Assets | 44.32 | 41.29 | 5.54 | 5.32 | 5.40 |
| Accounts Payable | 0.04 | 0.00 | 0.03 | 0.03 | 0.03 |
| Short-term Debt | -- | -- | -- | -- | 0.01 |
| Total Current Liabilities | 0.41 | 3.02 | 0.46 | 2.73 | 2.73 |
| Total Non-current Liabilities | 0.20 | 0.13 | 0.18 | 0.02 | 0.02 |
| Total Liabilities | 3.05 | 3.15 | 0.49 | 2.89 | 2.87 |
| Retained Earnings | (1.00) | (11.37) | (14.40) | (16.61) | (2.67) |
| Total Stockholder Equity* | 41.27 | 38.14 | 35.62 | 33.66 | 4.95 |
* Derived from reported values
Income Statement
(in billions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 |
|---|
| Total Revenue | 12.49 | 1.54 | 8.44 | 6.73 | 4.66 |
| Cost of Revenue | 4.62 | 5.10 | 0.58 | 3.51 | 2.54 |
| Gross Profit | 7.87 | 6.14 | 4.32 | 3.22 | 0.33 |
| Research & Development | 0.87 | 0.88 | 0.95 | 0.13 | 0.11 |
| Selling, General & Admin | 0.10 | 0.91 | 0.94 | 0.21 | 0.67 |
| Total Operating Expenses | 0.53 | 3.66 | 0.47 | 0.49 | 5.91 |
| Operating Income | 4.15 | 2.47 | 0.14 | (0.16) | (0.60) |
| Interest Expense | -- | -- | 0.00 | 0.00 | 0.00 |
| Pretax Income | 5.39 | 3.36 | 2.33 | 0.07 | (3.64) |
| Tax Provision | 0.93 | 0.24 | 0.02 | 0.01 | 0.01 |
| Net Income | 4.46 | 3.12 | 2.23 | 0.41 | (3.65) |
| Basic EPS | 0.21 | 0.15 | 0.01 | 0.00 | -- |
| Diluted EPS | 0.21 | 0.15 | 0.10 | 0.00 | -- |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 |
|---|
| Operating Cash Flow | 4.63 | 2.97 | 2.27 | (0.02) | (0.03) |
| Capital Expenditures | 0.13 | 0.07 | 0.10 | 0.01 | 0.04 |
| Free Cash Flow* | 4.50 | 2.90 | 2.17 | (0.03) | (0.08) |
| Investing Cash Flow | (2.72) | (2.42) | 0.55 | 2.13 | (2.26) |
| Financing Cash Flow | (0.24) | (0.21) | (1.17) | (1.33) | 8.90 |
* Derived from reported values
