First Tractor Company 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	10,805	11,839	11,433	12,354	9,126	7,370
Other Revenue	65.13	65.13	101.2	209.45	207.76	212.02
Revenue	10,870	11,904	11,534	12,564	9,334	7,582
Revenue Growth (YoY)	-9.55%	3.21%	-8.20%	34.61%	23.10%	30.06%
Cost of Revenue	9,288	10,177	9,814	10,518	7,793	6,305
Gross Profit	1,582	1,728	1,720	2,046	1,541	1,278
Selling, General & Admin	489.25	488.13	489.79	581.66	529.16	674.3
Research & Development	545.75	516.38	461.34	528.78	415.35	339.04
Other Operating Expenses	-92.65	-55.87	27.85	47.65	42.85	43.69
Operating Expenses	971.98	967.39	985.48	1,275	1,201	1,300
Operating Income	610.13	760.46	734.57	771.12	340.04	-22.5
Interest Expense	-2.43	-5.76	-27.18	-33.32	-49.97	-101.67
Interest & Investment Income	207.78	217.27	186.39	34.67	641.84	381.08
Currency Exchange Gain (Loss)	8.2	8.2	11.04	36.68	-25.21	-23.12
Other Non Operating Income (Expenses)	0.52	-3.29	-2.68	13.3	0.04	15.13
EBT Excluding Unusual Items	824.2	976.87	902.14	822.46	906.75	248.92
Gain (Loss) on Sale of Investments	59.77	27.4	47.76	-232.28	-520.68	-20.09
Gain (Loss) on Sale of Assets	-1.16	5.49	1.56	1.63	0.06	8.25
Asset Writedown	-10.31	-10.75	-6.45	-23.6	-2.22	-48.29
Legal Settlements	-	-	-	-	-1.18	-1.24
Other Unusual Items	52.78	52.78	58.07	43.69	77.57	119.79
Pretax Income	925.27	1,052	1,003	611.9	460.29	307.33
Income Tax Expense	52.43	120.84	14.06	-30.06	26.95	26.37
Earnings From Continuing Operations	872.84	930.94	989.03	641.96	433.34	280.96
Net Income to Company	872.84	930.94	989.03	641.96	433.34	280.96
Minority Interest in Earnings	-57.54	-8.91	8	39.09	4.87	-0.81
Net Income	815.31	922.02	997.02	681.05	438.21	280.15
Net Income to Common	815.31	922.02	997.02	681.05	438.21	280.15
Net Income Growth	-19.49%	-7.52%	46.39%	55.42%	56.42%	355.71%
Shares Outstanding (Basic)	1,124	1,124	1,124	1,124	1,112	986
Shares Outstanding (Diluted)	1,124	1,124	1,124	1,124	1,112	986
Shares Change (YoY)	-0.00%	-0.01%	-	1.03%	12.83%	0.06%
EPS (Basic)	0.73	0.82	0.89	0.61	0.39	0.28
EPS (Diluted)	0.73	0.82	0.89	0.61	0.39	0.28
EPS Growth	-19.49%	-7.52%	46.39%	53.83%	38.64%	355.45%
Free Cash Flow	462.16	1,104	967.16	3,508	514.43	1,168
Free Cash Flow Per Share	0.41	0.98	0.86	3.12	0.46	1.18
Dividend Per Share	0.368	0.299	0.319	0.226	0.117	0.075
Dividend Growth	15.20%	-6.23%	41.52%	92.91%	56.00%	-
Gross Margin	14.55%	14.51%	14.91%	16.28%	16.51%	16.85%
Operating Margin	5.61%	6.39%	6.37%	6.14%	3.64%	-0.30%
Profit Margin	7.50%	7.75%	8.64%	5.42%	4.70%	3.69%
Free Cash Flow Margin	4.25%	9.28%	8.38%	27.92%	5.51%	15.40%
EBITDA	873.15	1,037	1,030	1,079	660.65	302.43
EBITDA Margin	8.03%	8.71%	8.93%	8.59%	7.08%	3.99%
D&A For EBITDA	263.02	276.85	295.28	308.21	320.61	324.93
EBIT	610.13	760.46	734.57	771.12	340.04	-22.5
EBIT Margin	5.61%	6.39%	6.37%	6.14%	3.64%	-0.30%
Effective Tax Rate	5.67%	11.49%	1.40%	-	5.85%	8.58%
Revenue as Reported	10,870	11,904	11,534	12,564	9,334	7,582
Advertising Expenses	-	16.5	13.67	13.87	9.89	7.81

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