We define adjusted net loss (non-IFRS measure) as loss for the years/periods adjusted by adding back share-based payment expenses and [REDACTED] expense.
Summary · p. 11
– Share-based payment(1) | — | — | 88,896 | — | —
Summary · p. 11
We believe this non-IFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating the potential impact of certain items.
We define adjusted net loss (non-IFRS measure) as loss for the year/period adjusted for changes in fair value of financial liabilities at FVTPL, [REDACTED] and share-based payments.
Summary · p. 8
We believe that such non-IFRS measures facilitate comparisons of operating performance from period to period and company to company by eliminating potential impact of certain items and provides useful information to [REDACTED] and others in understanding and evaluating our consolidated results of operations in the same manner as they help our management.
We define adjusted net profit for the year/period (non-HKFRS measure) as profit/(loss) for the year/period adjusted for the fair value change of convertible preference shares, convertible preference share dividends and unwinding interest on redemption liabilities, which were non-recurring and non-operating in nature.
Summary · p. 8
After adjusting for the fair value change of convertible preference shares, convertible preference share dividends and unwinding interest on redemption liabilities arising from the Buy-back Arrangement, our adjusted net profit in 2023, 2024, 2025 and the six months ended June 30, 2025 and 2026 was US$74.2 million, US$78.3 million, US$87.9 million, US$45.6 million and US$39.6 million, respectively.
We define the adjusted net (loss)/profit (a non-IFRS measure) as (loss)/profit for the year by eliminating (i) change in fair value of redemption liabilities, (ii) equity-settled share-based payment expenses and (iii) [REDACTED] expenses.
Financial Information · p. 227
Our management considers that both change in fair value of redemption liabilities and equity-settled share-based payment expenses are non-cash in nature.
Financial Information · p. 227
(Loss)/profit for the year | (66,562) | 9,852 | 52,584 | 17,814 | 47,932
We define adjusted net loss (Non-IFRS measure) as loss for the years/periods adjusted by adding back (i) equity-settled share-based payment expenses, which are non-cash in nature, and (ii) listing expenses, which relate to the Global Offering.
Summary · p. 7
The use of this Non-IFRS measure has limitations as an analytical tool, and investors should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
We define adjusted net loss (non-IFRS measure) as net loss for the year/period adjusted by adding back finance costs on redemption financial liabilities, [REDACTED] expenses and amortization of customer relationship and adjusted net loss margin (non-IFRS measure) as adjusted net loss (non-IFRS measure) divided by revenue.
Financial Information · p. 213
The use of these non-IFRS measures has limitations as an analytical tool, and you should not consider them in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRS.
We define adjusted net profit (non-HKFRS measure) as profit excluding the effects of share-based payment expenses, interest on redemption liabilities on ordinary shares and [REDACTED].
Summary · p. 11
We believe that such non-HKFRS measure facilitates comparisons of operating performance from period to period by eliminating potential impacts of certain items.
To supplement our consolidated financial statements prepared under IFRS, we use adjusted net loss (non-IFRS measure) as an additional financial measure, which is not required by, or presented in accordance with, IFRS.
Summary · p. 11
This measure has analytical limitations, and you should not consider it in isolation, or as a substitute for analyzing, our results of operations or financial condition as reported under IFRS.
We define adjusted net loss (non-IFRS measure) as loss for the year/period adjusted for share-based payment, interest on redemption liabilities, exchange realignment on redemption liabilities, foreign exchange differences on intercompany balances, losses on fair value changes of derivative liabilities and [REDACTED].
Summary · p. 6
Our adjusted net loss (non-IFRS measure) and the absolute amount of adjusted EBITDA (non-IFRS measure) decreased during the Track Record Period, primarily due to the decrease in our loss for the year/period, which was mainly attributable to our rapid revenue growth, continued improvement in cost efficiency, as well as operating leverage achieved through more disciplined control of operating expenses as a percentage of revenue, as our business scaled.
We define adjusted net (loss)/profit (non-IFRS measure) as (loss)/profit for the year/period adjusted by adding back our equity-settled share-based compensation expenses, which were incurred in connection with our share incentive schemes.
Summary · p. 10
The use of non-IFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for, analysis of our results of operations or financial condition as reported under IFRS Accounting Standards.
We define adjusted net profit (non-HKFRS measure) as profit for the year/period adjusted by adding back (i) equity-settled share-based payment expenses, (ii) changes in the carrying amount of redemption liabilities and (iii) [REDACTED], net of income tax.
Summary · p. 9
The use of this non-HKFRS measure should not be considered as a substitute for an analysis of our results of operations or financial condition as reported under HKFRS.
The presentation of such non-HKFRS measure when shown in conjunction with the corresponding HKFRS measures facilitates a comparison of our operating performance by eliminating the impact of (i) interest on redemption liabilities, (ii) [REDACTED], (iii) share-based payment expenses and (iv) restructuring expenses, representing one-off tax expenses incurred in connection with the restructuring arrangement.
Summary · p. 8
The use of the non-HKFRS measures has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for or superior to, an analysis of our results of operations or financial condition as reported under HKFRS.
We define adjusted net loss (non-IFRS measure) as loss for the year/period adjusted for share-based payments, [REDACTED] expenses and finance costs on redemption financial liabilities.
Financial Information · p. 229
The use of such non-IFRS measures has limitations as analytical tools, and you should not consider them in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS.
To supplement our consolidated financial statements presented in accordance with IFRS Accounting Standards, we use adjusted profit/(loss) for the year/period (non-IFRS measure) and adjusted EBITDA (non-IFRS measure) as additional financial measures, which are not required by, or presented in accordance with IFRS Accounting Standards.
We define adjusted net loss (non-IFRS measure) as loss for the year/period adjusted by adding back listing expenses and share-based payment expenses.
Summary · p. 8
Share-based payment expenses are non-cash in nature and represent the arrangement under which we receive services from employees as consideration for our equity instruments.
Summary · p. 8
The use of this non-IFRS measure should not be considered as substitute for analysis of, our results of operations or financial condition as reported under IFRSs.
We define adjusted net loss for the year/period (non-HKFRS measure) as loss for the periods adjusted by adding back equity-settled share award expenses and listing expenses.
Summary · p. 15
The use of this non-HKFRS measure should not be considered as a substitute for analysis of our results of operations or financial condition as reported under HKFRS.
We adjust EBITDA to eliminate the effect of certain non-cash and non-recurring items, including share-based payments, gain on disposal of property, plant and equipment and a subsidiary and [REDACTED] expenses.
Financial Information · p. 149
The use of adjusted EBITDA and adjusted EBITDA (pre-IFRS 16) has material limitations as an analytical tool, as these adjusted non-IFRS measures do not account for all items that impact our profit or loss for the relevant periods.
We define adjusted net loss (Non-IFRS measure) as loss for the years/periods adjusted by adding back share-based payment expenses, interest expense on redemption liabilities and [REDACTED] expenses.
Summary · p. 7
The use of Non-IFRS measures has limitations as an analytical tool, and [REDACTED] should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
Adjusted net profit for the year/period (non-IFRS measure) was calculated by taking profit for the year/period and adding back (i) equity-settled share-based payment expenses, which were non-cash in nature, (ii) fair value change on financial liabilities at FVPL, which was non-cash in nature, and (iii) [REDACTED] in relation to the proposed [REDACTED] and [REDACTED].
Summary · p. 11
Our adjusted net profit (non-IFRS measure) remained relatively stable at RMB328.0 million, RMB329.8 million and RMB329.7 million in 2023, 2024 and 2025, respectively.
Summary · p. 12
The use of these non-IFRS measures has limitations as analytical tools, and you should not consider them in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS.