China Pipe Group Income Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	645.37	783.5	714.13	636.54	682.19
Revenue Growth (YoY)	-17.63%	9.71%	12.19%	-6.69%	37.18%
Cost of Revenue	450.01	536.55	519.48	461.68	486.43
Gross Profit	195.37	246.95	194.65	174.86	195.76
Selling, General & Admin	141.83	149.29	133.19	121.08	130.11
Other Operating Expenses	-0.22	-0.05	0.05	0.06	1.24
Operating Expenses	141.61	154.58	133.24	121.14	131.35
Operating Income	53.76	92.37	61.41	53.72	64.41
Interest Expense	-4.75	-7.03	-6.74	-5.93	-5.84
Interest & Investment Income	13.26	15.6	13.06	6.45	4.69
Earnings From Equity Investments	0.31	-	-	-	-
Currency Exchange Gain (Loss)	1.44	-0.13	1.57	0.98	2.14
EBT Excluding Unusual Items	64.02	100.81	69.29	55.22	65.4
Gain (Loss) on Sale of Investments	0.03	-0.02	0.03	-0.19	-0.05
Gain (Loss) on Sale of Assets	0.22	0.04	0.01	-0.09	-0.05
Asset Writedown	-	-	-0.5	-	-
Other Unusual Items	0.26	0.05	0.01	3.3	-
Pretax Income	64.53	100.89	68.84	58.24	65.29
Income Tax Expense	8.57	13.67	10.45	9.02	9.32
Earnings From Continuing Operations	55.97	87.22	58.39	49.22	55.97
Earnings From Discontinued Operations	-	-	-	-	0.35
Net Income to Company	55.97	87.22	58.39	49.22	56.32
Minority Interest in Earnings	-	-	-	-	0.11
Net Income	55.97	87.22	58.39	49.22	56.42
Net Income to Common	55.97	87.22	58.39	49.22	56.42
Net Income Growth	-35.83%	49.38%	18.63%	-12.77%	179.99%
Shares Outstanding (Basic)	1,332	1,332	1,332	1,332	1,332
Shares Outstanding (Diluted)	1,332	1,332	1,332	1,332	1,332
Shares Change (YoY)	-	-	-	-	-0.06%
EPS (Basic)	0.04	0.07	0.04	0.04	0.04
EPS (Diluted)	0.04	0.07	0.04	0.04	0.04
EPS Growth	-35.83%	49.38%	18.63%	-12.77%	180.17%
Free Cash Flow	-	97.92	32.31	65.3	5.52
Free Cash Flow Per Share	-	0.07	0.02	0.05	0.00
Gross Margin	30.27%	31.52%	27.26%	27.47%	28.70%
Operating Margin	8.33%	11.79%	8.60%	8.44%	9.44%
Profit Margin	8.67%	11.13%	8.18%	7.73%	8.27%
Free Cash Flow Margin	-	12.50%	4.52%	10.26%	0.81%
EBITDA	56.99	95.6	63.49	55.44	67.14
EBITDA Margin	8.83%	12.20%	8.89%	8.71%	9.84%
D&A For EBITDA	3.23	3.23	2.08	1.72	2.73
EBIT	53.76	92.37	61.41	53.72	64.41
EBIT Margin	8.33%	11.79%	8.60%	8.44%	9.44%
Effective Tax Rate	13.28%	13.54%	15.19%	15.49%	14.28%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.