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: $393.17M. Running result $393.17M. Revenue: $393.17M.
- Cost of revenue: −$157.5M. Running result $235.66M.
- Gross profit: $235.66M. Running result $235.66M.
- Selling and marketing expenses (including transactions with related parties of RMB 2,585, RMB 57,339 and RMB 28,158 for the years ended December 31, 2023, 2024 and 2025, respectively): −$179.1M. Running result $56.56M.
- Research and development expenses (including transactions with related parties of nil, RMB 1,167 and RMB 1,388 for the years ended December 31, 2023, 2024 and 2025, respectively): −$75.09M. Running result −$18.53M.
- General and administrative expenses (including transactions with related parties of nil, RMB 3,792 and RMB 2,453 for the years ended December 31, 2023, 2024 and 2025, respectively): −$35.96M. Running result −$54.48M.
- Impairment of goodwill: −$18.07M. Running result −$72.55M.
- Operating income: −$72.55M. Running result −$72.55M.
- Other income: $47.74M. Running result −$24.81M.
- Pre-tax loss: −$24.81M. Running result −$24.81M.
- Income tax expense: −$3.1M. Running result −$27.91M.
- Net loss: −$27.91M. Running result −$27.91M.
