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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	10,883	10,770	11,839	11,433	12,354	9,126
Other Revenue	52.76	52.76	65.13	101.2	209.45	207.76
Revenue	10,935	10,823	11,904	11,534	12,564	9,334
Revenue Growth (YoY)	-7.37%	-9.09%	3.21%	-8.20%	34.61%	23.10%
Cost of Revenue	9,285	9,220	10,177	9,814	10,518	7,793
Gross Profit	1,650	1,603	1,728	1,720	2,046	1,541
Selling, General & Admin	476.87	483.94	488.13	489.79	581.66	529.16
Research & Development	556.64	549.37	516.38	461.34	528.78	415.35
Other Operating Expenses	-17.72	-49.68	-55.87	27.85	47.65	42.85
Operating Expenses	1,023	996.94	967.39	985.48	1,275	1,201
Operating Income	627.02	605.62	760.46	734.57	771.12	340.04
Interest Expense	-13.08	-12.74	-5.76	-27.18	-33.32	-49.97
Interest & Investment Income	198.02	202.44	217.27	186.39	34.67	641.84
Currency Exchange Gain (Loss)	-5.48	-5.48	8.2	11.04	36.68	-25.21
Other Non Operating Income (Expenses)	1.53	-2.95	-3.29	-2.68	13.3	0.04
EBT Excluding Unusual Items	808.01	786.89	976.87	902.14	822.46	906.75
Gain (Loss) on Sale of Investments	70.01	70.02	27.4	47.76	-232.28	-520.68
Gain (Loss) on Sale of Assets	0.56	1.14	5.49	1.56	1.63	0.06
Asset Writedown	-7.12	-7.15	-10.75	-6.45	-23.6	-2.22
Legal Settlements	-	-	-	-	-	-1.18
Other Unusual Items	85.38	85.38	52.78	58.07	43.69	77.57
Pretax Income	956.84	936.28	1,052	1,003	611.9	460.29
Income Tax Expense	65.08	76.44	120.84	14.06	-30.06	26.95
Earnings From Continuing Operations	891.75	859.84	930.94	989.03	641.96	433.34
Net Income to Company	891.75	859.84	930.94	989.03	641.96	433.34
Minority Interest in Earnings	-46.78	-47.89	-8.91	8	39.09	4.87
Net Income	844.97	811.95	922.02	997.02	681.05	438.21
Net Income to Common	844.97	811.95	922.02	997.02	681.05	438.21
Net Income Growth	-0.84%	-11.94%	-7.52%	46.39%	55.42%	56.42%
Shares Outstanding (Basic)	1,124	1,124	1,124	1,124	1,124	1,112
Shares Outstanding (Diluted)	1,124	1,124	1,124	1,124	1,124	1,112
Shares Change (YoY)	0.00%	0.01%	-0.01%	-	1.03%	12.83%
EPS (Basic)	0.75	0.72	0.82	0.89	0.61	0.39
EPS (Diluted)	0.75	0.72	0.82	0.89	0.61	0.39
EPS Growth	-0.84%	-11.94%	-7.52%	46.39%	53.83%	38.64%
Free Cash Flow	863.13	722.79	1,104	967.16	3,508	514.43
Free Cash Flow Per Share	0.77	0.64	0.98	0.86	3.12	0.46
Dividend Per Share	0.266	0.266	0.299	0.319	0.226	0.117
Dividend Growth	-11.22%	-11.22%	-6.23%	41.52%	92.91%	56.00%
Gross Margin	15.09%	14.81%	14.51%	14.91%	16.28%	16.51%
Operating Margin	5.73%	5.60%	6.39%	6.37%	6.14%	3.64%
Profit Margin	7.73%	7.50%	7.75%	8.64%	5.42%	4.70%
Free Cash Flow Margin	7.89%	6.68%	9.28%	8.38%	27.92%	5.51%
EBITDA	899.41	881.53	1,050	1,030	1,079	660.65
EBITDA Margin	8.22%	8.14%	8.82%	8.93%	8.59%	7.08%
D&A For EBITDA	272.39	275.91	290.02	295.28	308.21	320.61
EBIT	627.02	605.62	760.46	734.57	771.12	340.04
EBIT Margin	5.73%	5.60%	6.39%	6.37%	6.14%	3.64%
Effective Tax Rate	6.80%	8.16%	11.49%	1.40%	-	5.85%
Revenue as Reported	10,935	10,823	11,904	11,534	12,564	9,334
Advertising Expenses	-	23.95	16.5	13.67	13.87	9.89

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