Income statement waterfall. Green diagonal stripes add to the running result, red diagonal stripes subtract from it, and a thin axis line marks the loss-zone boundary.
- Revenue: $616.12M. Running result $616.12M. Revenue: $616.12M.
- Cost of revenue: −$495.47M. Running result $120.65M.
- Gross profit: $120.65M. Running result $120.65M.
- Selling and marketing expenses: −$96.65M. Running result $24M.
- Research and development expenses: −$23.81M. Running result $192.98K.
- General and administrative expenses (including allowance for doubtful accounts of RMB139,445,017 and RMB7,632,517 for the years ended December 31, 2023 and 2024, respectively, and a reversal of allowance of RMB5,870,581 for the year ended December 31, 2025): −$13.01M. Running result −$12.82M.
- Operating income: −$12.62M. Running result −$12.62M.
- Other income: $3.7M. Running result −$8.92M.
- Pre-tax loss: −$8.92M. Running result −$8.92M.
- Income tax benefit: $3.29M. Running result −$5.63M.
- Net loss: −$5.63M. Running result −$5.63M.
