To supplement our consolidated financial statements that are presented in accordance with IFRS, we also use adjusted profit for the year (a non-IFRS measure), as an additional financial measure, which is not required by, or presented in accordance with IFRS.
Summary · p. 6
(1) Equity-settled share-based payments relate to the share awards we granted to our employees under the Share Incentive Plan and were non-cash in nature.
We believe that such non-IFRS measure facilitate comparisons of operating performance from period to period and company to company by eliminating potential impacts of certain items and provides useful information to [REDACTED] and others in understanding and evaluating our performance in the same manner as they help our management.
Summary · p. 6
We define adjusted net loss (non-IFRS measure) as loss for the year adjusted for (1) equity-settled share-based payments, and (2) [REDACTED].
To supplement our consolidated financial statements prepared in accordance with IFRS, we also use certain non-IFRS measures, including EBITDA, adjusted net profit (a non-IFRS measure) and adjusted EBITDA (a non-IFRS measure), as additional financial measures, which are not required by, or presented in accordance with, the IFRS.
Financial Information · p. 125
We define adjusted net profit as profit for the year, adjusted for equity settled share-based payments, which are non-cash in nature.
Financial Information · p. 125
The use of this non-IFRS measure has limitations as an analytical tool, and you should not consider them in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under IFRS.
We define adjusted net loss (non-IFRS measure) as net loss for the year adjusted by adding back share-based payment expenses and [REDACTED] incurred in connection with the [REDACTED].
Summary · p. 7
Our adjusted net loss (non-IFRS measure) was RMB143.3 million, RMB243.1 million and RMB283.2 million in 2023, 2024 and 2025, respectively.
Summary · p. 8
As we remained in the ramp-up phase of our business and continued to invest in expanding our operations, we recorded net losses of RMB209.8 million in 2023, RMB243.1 million in 2024 and net loss of RMB336.6 million in 2025.
We define adjusted net profit (non-IFRS measure) as profit for the year adjusted for (1) equity-settled share-based payment and (2) [REDACTED] expenses.
Summary · p. 7
After adjustment of equity-settled share-based payment and [REDACTED] expenses, our adjusted net profit (non-IFRS measure) continued to improve during the Track Record Period, amounting to RMB39.2 million, RMB59.2 million and RMB63.3 million in 2023, 2024 and 2025, respectively.
Summary · p. 7
The use of these non-IFRS measures have limitations as analytical tools, and you should not consider them in isolation from, or as substitutes for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
The application of the non-IFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
Summary · p. 7
We define adjusted net profit or loss (non-IFRS measure) as loss for the year adjusted by adding back [REDACTED] expenses, equity-settled share-based payments expenses and accretion of redemption liabilities.
Financial Information · p. 206
However, our presentation of adjusted net profit or loss (non-IFRS measure) may not be comparable to similarly titled measures presented by other companies.
To supplement our consolidated statements of profit or loss presented in accordance with IFRS, we also use adjusted net profit (Non-IFRS measure), which are not required by, or presented in accordance with IFRS and such presentation facilitates a comparison of our operating performance by eliminating the impact of certain expenses to allow investors to consider metrics used by our management.
Summary · p. 4
According to the relevant requirements under IFRS 2 share-based payments, the cash dividend of RMB81,357,000 and the fair value of RMB158,950,000 for 29,546,551 issued shares was charged to the consolidated income statements.
We define adjusted net (loss)/profit (non-IFRS measure) as loss for the year adjusted for share-based compensation expenses, fair value changes of convertible redeemable preferred shares, [REDACTED] and exchange loss resulting from our one-off refund payments to certain preferred shareholders in 2025.
Summary · p. 7
However, our presentation of adjusted net (loss)/profit (non-IFRS measure) may not be comparable to similarly titled measures presented by other companies.
Summary · p. 7
Our adjusted net loss (non-IFRS measure) was RMB31.5 million in 2023, and we recorded adjusted net profit (non-IFRS measure) of RMB66.3 million and RMB107.3 million in 2024 and 2025, respectively.
We define adjusted profit/(loss) for the year (a non-IFRS measure) as loss for the year adjusted for listing expenses and share-based compensations (a non-cash item).
Summary · p. 6
Our share-based compensation increased from RMB14.8 million in 2023 to RMB84.8 million in 2024.
Financial Information · p. 191
We recorded a relatively lower share-based compensation in 2023, primarily due to the reassessment and extension of the vesting period for certain grants.
We define adjusted net loss (non-IFRS measure) as net loss for the year adjusted by adding back share-based payments and [REDACTED] expenses.
Financial Information · p. 226
The use of such non-IFRS measure has limitations as an analytical tool, and you should not consider it 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 loss (non-IFRS measure) as net loss adjusted by adding back share-based compensation expenses and listing expenses.
Summary · p. 11
The use of the non-IFRS measure has limitations as an analytical tool, and you should not consider them in isolation from, as a substitute for analysis of, or superior to, our results of operations or financial conditions as reported under IFRS.
Summary · p. 11
Our net loss and adjusted net loss (non-IFRS measure) narrowed from RMB180.6 million in 2023 to RMB160.9 million in 2024, primarily attributable to the higher gross profits of (i) autonomous driving software solutions, primarily attributable to an increase in the revenue from autonomous driving software solutions resulting from an increase in average contract value of our autonomous driving software solutions; and (ii) our autonomous driving kit solutions, primarily attributable to an increase in the revenue from autonomous driving kit solutions in relation to an increase in the number of customers and average contract value.
We define adjusted net loss (non-IFRS measure) as loss for the year adjusted for share-based payment expenses and listing expenses.
Financial Information · p. 220
Our adjusted net loss (non-IFRS measure) increased from RMB52.3 million in 2024 to RMB86.6 million in 2025, primarily due to an increase to RMB152.9 million in loss for the year, primarily as a result of an increase to RMB85.3 million in administrative expenses, an increase to RMB70.8 million of research and development expenses, and an increase to RMB26.2 million in other expenses, partially offset by an increase to RMB96.2 million in gross profit, as adjusted by the share-based payment expenses of RMB49.7 million and the listing expenses of RMB16.6 million.
We define adjusted net profit (non-HKFRS measure) as profit for the year adjusted by adding back (i) equity-settled share award expenses and (ii) [REDACTED].
Summary · p. 11
Equity-settled share award expenses arise from granting share-based payment to selected employees, the amount of which is non-cash in nature.
Summary · p. 11
In 2023, 2024 and 2025, our adjusted net profit (non-HKFRS measure) amounted to RMB156.0 million, RMB304.3 million and RMB409.1 million, respectively.
We define adjusted net loss as net loss for the year adjusted by adding back equity-settled share-based payment expenses and listing expenses related to the Global Offering and adjusted net loss margin as adjusted net loss divided by revenue.
Summary · p. 8
Adjusted net loss | (55,776) | (44,675) | (26,089)
We define adjusted profit for the year (a non-IFRS measure) as profit for the year adjusted for equity-settled share-based payment expenses (a non-cash item) and [REDACTED].
Summary · p. 7
We believe that these non-IFRS measures facilitate comparisons of operating performance from period to period by eliminating potential impact of certain items.
We define adjusted net loss (non-IFRS measure) as loss for the period adjusted for share-based payment expenses and [REDACTED].
Financial Information · p. 218
The use of such non-IFRS measure has limitations as an analytical tool, and you should not consider them in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under the IFRSs.
We define adjusted net profit (non-IFRS measure) as net profit for the years adjusted by adding back share-based payment expenses.
Summary · p. 7
However, our presentation of adjusted net profit (non-IFRS measure) may not be comparable to similar item measures presented by other companies.
Summary · p. 7
The use of such non-IFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
We believe that the presentation of such non-IFRS measure when shown in conjunction with the corresponding IFRS measures provides useful information to [REDACTED] and management in facilitating a comparison of our operating performance from period to period and company to company by eliminating potential impacts of certain items.
Summary · p. 6
However, the use of non-IFRS measure has limitations as an analytical tool, 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.
The following table reconciles our adjusted profit (non-IFRS measure) for the year presented in accordance with IFRS, which is profit for the year.
Summary · p. 9
The use of these non-IFRS measures has limitations as analytical tools, and you should not consider them in isolation form, or as substitutes for analysis of, or our results of operations as reported under IFRS.