YB (YB) financial statements

· Market cap $558M

YB reported revenue of 4.4B CNY in fiscal 2025, up 46.2% a year over 2 years.

Net income was 1.3B CNY and the operating margin 30.6%, against 8.6% in 2023.

Free cash flow was 1.5B CNY.

The diluted share count rose 304% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

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<p style="font-size:13px">Source: <a href="https://investingly.io/stocks/YB/financials">YB financials</a> on Investingly</p>

Income statement

Fiscal years, in CNY, from YB's 10-K filings with the SEC.

Fiscal year	2023	2024	2025
Revenue	2.0B CNY	3.3B CNY	4.4B CNY
Cost of revenue	138M CNY	166M CNY	167M CNY
Gross profit	1.9B CNY	3.1B CNY	4.2B CNY
Research and development	129M CNY	231M CNY	365M CNY
Selling, general and admin	1.6B CNY	2.0B CNY	2.5B CNY
Operating income	175M CNY	859M CNY	1.3B CNY
Pre-tax income	205M CNY	891M CNY	1.4B CNY
Income tax	291,000 CNY	26M CNY	101M CNY
Net income	203M CNY	866M CNY	1.3B CNY
EPS (diluted)	-4.71 CNY	3.19 CNY	4.57 CNY
Diluted shares	71M	271M	286M
Gross margin	93.3%	94.9%	96.2%
Operating margin	8.6%	26.1%	30.6%
Net margin	9.9%	26.4%	29.9%

Balance sheet

Fiscal years, in CNY, from YB's 10-K filings with the SEC.

Fiscal year	2023	2024	2025
Cash and short-term investments	863M CNY	2.2B CNY	3.7B CNY
Receivables	—	261M CNY	441M CNY
Total current assets	—	2.7B CNY	4.5B CNY
Property, plant and equipment	—	5M CNY	14M CNY
Total assets	—	2.8B CNY	4.7B CNY
Total current liabilities	—	941M CNY	1.1B CNY
Total liabilities	—	993M CNY	1.3B CNY
Shareholders' equity	-2.1B CNY	-1.6B CNY	3.3B CNY
Net debt	-863M CNY	-1.9B CNY	-860M CNY

Cash flow

Fiscal years, in CNY, from YB's 10-K filings with the SEC.

Fiscal year	2023	2024	2025
Operating cash flow	442M CNY	1.2B CNY	1.5B CNY
Capital spending	5M CNY	3M CNY	19M CNY
Free cash flow	437M CNY	1.2B CNY	1.5B CNY
Stock-based compensation	37M CNY	64M CNY	74M CNY
Free cash flow margin	21.4%	36.7%	33.8%

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Questions

What was YB's revenue in 2025?

4.4B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does YB generate?

1.5B CNY in fiscal 2025 (operating cash flow minus capital spending).

From YB's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.