FRA:2E5 Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	462,028	433,622	403,164	363,886	319,300	267,575
Other Revenue	3,091	3,091	2,868	2,510	3,019	2,753
Revenue	465,119	436,713	406,032	366,396	322,319	270,328
Revenue Growth (YoY)	11.85%	7.56%	10.82%	13.68%	19.23%	9.32%
Cost of Revenue	409,936	382,808	355,276	321,386	280,298	233,716
Gross Profit	55,183	53,904	50,756	45,010	42,020	36,612
Selling, General & Admin	16,934	17,225	16,653	15,410	14,414	13,027
Research & Development	14,619	13,982	12,980	10,442	8,789	6,785
Other Operating Expenses	1,666	1,444	1,091	1,652	1,294	1,183
Operating Expenses	34,985	34,539	32,689	29,080	25,357	21,660
Operating Income	20,198	19,366	18,067	15,930	16,663	14,952
Interest Expense	-6,535	-6,762	-5,900	-5,618	-3,363	-3,300
Interest & Investment Income	2,017	2,350	1,630	1,609	808.33	919.53
Currency Exchange Gain (Loss)	270.85	270.85	388.99	799.13	-184.12	-494.2
Other Non Operating Income (Expenses)	-1,998	-1,737	-1,115	-848.35	-696.19	-1,470
EBT Excluding Unusual Items	13,952	13,488	13,071	11,872	13,229	10,608
Impairment of Goodwill	-	-	-	-	-	-1.22
Gain (Loss) on Sale of Investments	40.29	44.69	331.11	71.39	8.14	570.88
Gain (Loss) on Sale of Assets	976.28	1,109	304.97	728.95	825.63	432.78
Asset Writedown	-688.02	-368.23	-135.34	-4.51	-180.99	-46.33
Legal Settlements	-	-	-22.55	-134.27	-1,400	-414.56
Other Unusual Items	854.33	854.33	461.15	1,143	568.76	891.13
Pretax Income	15,135	15,128	14,011	13,677	13,050	12,040
Income Tax Expense	3,328	3,304	2,755	3,255	3,453	3,403
Earnings From Continuing Operations	11,807	11,824	11,256	10,422	9,598	8,637
Minority Interest in Earnings	-3,859	-3,428	-3,269	-2,598	-3,093	-3,966
Net Income	7,948	8,396	7,986	7,824	6,504	4,671
Preferred Dividends & Other Adjustments	-	-	-	-	-	163.66
Net Income to Common	7,948	8,396	7,986	7,824	6,504	4,507
Net Income Growth	-6.68%	5.13%	2.07%	20.29%	39.26%	-21.07%
Shares Outstanding (Basic)	44,216	44,190	44,367	43,467	34,232	29,856
Shares Outstanding (Diluted)	44,216	44,190	44,367	43,467	34,232	29,856
Shares Change (YoY)	-2.24%	-0.40%	2.07%	26.98%	14.66%	-
EPS (Basic)	0.18	0.19	0.18	0.18	0.19	0.15
EPS (Diluted)	0.18	0.19	0.18	0.18	0.19	0.15
EPS Growth	-4.54%	5.56%	-	-5.26%	26.67%	-11.71%
Free Cash Flow	-30,900	-34,491	-21,644	-12,046	-5,199	-8,514
Free Cash Flow Per Share	-0.70	-0.78	-0.49	-0.28	-0.15	-0.28
Dividend Per Share	0.026	0.039	0.026	0.025	0.022	0.022
Dividend Growth	-32.30%	47.71%	3.97%	12.00%	-	-26.47%
Gross Margin	11.86%	12.34%	12.50%	12.29%	13.04%	13.54%
Operating Margin	4.34%	4.43%	4.45%	4.35%	5.17%	5.53%
Profit Margin	1.71%	1.92%	1.97%	2.14%	2.02%	1.67%
Free Cash Flow Margin	-6.64%	-7.90%	-5.33%	-3.29%	-1.61%	-3.15%
EBITDA	28,982	27,154	24,527	21,248	20,874	18,460
EBITDA Margin	6.23%	6.22%	6.04%	5.80%	6.48%	6.83%
D&A For EBITDA	8,784	7,788	6,460	5,318	4,211	3,508
EBIT	20,198	19,366	18,067	15,930	16,663	14,952
EBIT Margin	4.34%	4.43%	4.45%	4.35%	5.17%	5.53%
Effective Tax Rate	21.99%	21.84%	19.66%	23.80%	26.46%	28.27%
Revenue as Reported	465,119	436,713	406,032	366,396	322,319	-
Advertising Expenses	-	137.26	94.17	79.1	58.47	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.