We define adjusted net profit (non-IFRS measure) for the year, as profit for the year adjusted by adding back (i) fair value loss on financial liabilities at FVTPL comprises fair value loss on convertible bonds and redemption liabilities, of which the redemption liabilities will convert to equity upon the Listing, (ii) share-based payment compensation, which are non-cash in nature, and (iii) listing expenses.
Summary · p. 10
The use of these non-IFRS measures 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 condition as reported under IFRS.
We define adjusted net loss (non-IFRS financial measure) as net loss for the year adjusted by adding back share-based payment expenses, finance cost of interest on redemption liabilities, and listing expenses.
Summary · p. 9
Eliminating the impact of items including (i) share-based payment expenses; (ii) finance cost of interest on redemption liabilities; and (iii) listing expenses, we recorded an adjusted net loss (non- IFRS financial measure) of RMB183.2 million, RMB136.6 million and RMB168.4 million in 2022, 2023 and 2024, respectively, accounting for 30.5%, 18.8%, and 17.9% of our revenue for the same year, respectively.
We define adjusted (loss)/profit as loss for the year (non-HKFRS measure) adjusted by adding back fair value changes in financial instruments issued to investors, share-based payment expenses (non-cash item), and listing expenses.
Summary · p. 13
The use of these non-HKFRS measures have 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 conditions as reported under HKFRSs.
We define adjusted loss (non-IFRS measure) as loss for the year/period excluding share-based compensation expenses, listing expenses, and changes in the carrying amount of financial liabilities at fair value through profit or loss.
Summary · p. 20
Adjusted loss for the year (non-IFRS measure) | (1,651,331) | (966,461) | (723,997)
Summary · p. 21
The use of adjusted loss (non-IFRS measure) and adjusted EBITDA (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.
Listing expenses are mainly expenses related to the Global Offering and added back mainly because they were incurred for the purpose of the Global Offering.
Summary · p. 20
The use of such non-IFRS measures have limitations as analytical tools, 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 IFRSs.
We define adjusted net profit (non-IFRS measure) as loss for the year adjusted for (i) fair value losses on financial liabilities at FVTPL, (ii) listing expenses, and (iii) equity-settled share-based payment expenses.
Summary · p. 8
Our adjusted net profit (non-IFRS measure) was RMB9.8 million, RMB46.5 million and RMB54.2 million in 2022, 2023 and 2024, respectively, and our adjusted net profit margin (non-IFRS measure) was 7.2%, 26.6% and 26.3% in the same years, respectively.
Summary · p. 2
We believe that these items should be adjusted for when calculating our adjusted net profit (non-IFRS measure) and adjusted net profit margin (non-IFRS measure) in order to provide potential investors with a complete and fair understanding of our operating results, especially in making period-to-period comparisons of, and assessing the profile of, our operating and financial performance, and making comparisons with other comparable companies with similar business operations.
The table below sets forth a reconciliation of our net profit for the year under IFRS to adjusted net profit (non-IFRS measures) for the periods indicated by adding back (i) the Listing expenses and (ii) share-based payment which is non-cash in nature and does not result in cash outflow.
Financial Information · p. 336
We present these additional financial measures as these were used by our management to evaluate our financial performance by eliminating the impact of Listing expenses and share-based payment.
We define adjusted net profit (non-HKFRS measure) as profit/(loss) excluding the effects of share-based compensation expenses, listing expenses and changes in carrying amount of financial instruments issued to investors.
Summary · p. 10
The use of such non-HKFRS 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 conditions as reported under HKFRS.
We define adjusted net profit (non-IFRS measure) as profit for the year adjusted by excluding (i) equity-settled share-based payment expenses, (ii) listing expenses, and (iii) impact on tax related to items (i) to (ii) above.
Financial Information · p. 279
The use of the non-IFRS measures has limitations as analytical tools, 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.
We define adjusted profit for the year (a non-IFRS measure) as profit for the year adjusted for share-based payment expenses and listing expenses.
Financial Information · p. 254
Share-based payment expenses relate to the share rewards we granted to our employees, which is a non-cash item.
Summary · p. 14
However, our presentation of adjusted profit for the year (a non-IFRS measure) and adjusted net profit margin (a non-IFRS measure) may not be comparable to similar item measures presented by other companies.
We define adjusted net loss (a non-IFRS measure) as loss for the year adjusted for (i) equity-settled share-based payment expenses, (ii) listing expenses, and (iii) interest expenses on financial instruments issued to investors.
Summary · p. 16
In 2022, 2023 and 2024, our adjusted net loss (a non-IFRS measure) was RMB142.6 million, RMB189.8 million and RMB217.6 million, respectively.
Summary · p. 16
Our adjusted net loss margin (a non-IFRS measure), representing adjusted net loss (a non-IFRS measure) as a percentage of revenue, was 39.6%, 40.9% and 34.2% in 2022, 2023 and 2024, respectively, showing a decreasing trend primarily as a result of a decrease of operating expenses as a percentage of revenue and an increase in our gross profit margin as we began realizing economies of scale.
We define adjusted EBITDA (non-IFRS measure) as EBITDA (non-IFRS measure) as adjusted by share-based payment expenses (which is non-cash in nature) and listing expenses.
Financial Information · p. 411
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 condition as reported under IFRS.
To supplement our consolidated financial statements which are presented in accordance with IFRSs, we also presented the adjusted net profit (Non-IFRS measure) and adjusted net profit margin (Non-IFRS measure) as additional financial measures, which are not required by, or presented in accordance with IFRSs.
Summary · p. 16
Listing expenses are mainly expenses related to the Listing and are added back because they were incurred only for the purposes of the Listing.
Summary · p. 16
Listing expenses are mainly expenses related to the Listing and are added back because they were incurred only for the purposes of the Listing.
We define adjusted profit (non-IFRS measure) as profit for the year/period, excluding fair value changes of financial liabilities at fair value through profit or loss, share-based payment expenses and listing expenses.
Summary · p. 12
Our adjusted profit (non-IFRS measure) was RMB769.6 million, RMB788.1 million and RMB1,459.0 million in 2021, 2022 and 2023, respectively, and was RMB1,044.5 million and RMB1,148.7 million in the nine months ended September 30, 2023 and 2024, respectively.
Summary · p. 4
The use of adjusted profit (non-IFRS measure) and adjusted EBITDA (non-IFRS measure) 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 IFRSs.
We define adjusted profit/(loss) for the year/period (a non-IFRS measure) as profit/(loss) for the year/period adjusted for fair value changes on convertible redeemable preferred shares (a non-cash item), listing expenses and share-based compensations (a non-cash item).
Summary · p. 14
In particular, convertible redeemable preferred shares will be reclassified from liabilities to equity as a result of the conversion of convertible redeemable preferred shares into Ordinary Shares upon Listing.
We define adjusted net profit for the year/period (non-HKFRS measure) as profit for the year/period adjusted by adding listing expenses.
Summary · p. 16
We believe that such non-HKFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating potential impact of certain items.
Summary · p. 16
The use of adjusted net profit (non-HKFRS measure) has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute of, our consolidated statements of profit or loss and other comprehensive income or financial performance as reported under HKFRS.
Our Group defines adjusted profit/(loss) (non-IFRS measure) as profit/(loss) for the year/period which is adjusted by eliminating (i) share-based payment expenses; and (ii) listing expenses.
Summary · p. 12
(1) Share-based payment expenses are adjusted for as they are non-cash in nature and do not result in cash outflow.
Summary · p. 13
(2) Listing expenses are adjusted for as they were incurred for the purpose of the Listing.
We define adjusted net loss (non-IFRS measure) as loss and total comprehensive expense for the year adjusted by adding back fair value loss of financial liabilities at FVTPL and share-based payments, both being non-cash in nature.
Summary · p. 23
The fair value loss of financial liabilities at FVTPL is adjusted because it will cease upon the completion of this Global Offering; share-based payments are adjusted because they are non-cash in nature.
we also presented the adjusted net profit (non-HKFRS measure) and adjusted net profit margin (non-HKFRS measure) as additional financial measures, which are not required by, or presented, in accordance with HKFRSs.
Financial Information · p. 333
Listing expenses are mainly expenses related to the Listing and are added back because they were incurred only for the purposes of the Listing.
Financial Information · p. 333
The use of non-HKFRS financial measures has limitations as an analytical tool, and investors should not consider these in isolation from, or as a substitute for, or superior, to analysis of our results of operations or financial condition as reported under HKFRSs.