HKG:1232 Income Statement

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

Millions CNY. 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	452.68	796.38	2,388	2,660	1,782
Revenue Growth (YoY)	-43.16%	-66.64%	-10.24%	49.23%	28.32%
Cost of Revenue	306.02	642.35	1,844	2,638	1,487
Gross Profit	146.66	154.03	543.19	21.49	295.13
Selling, General & Admin	157.02	182.01	256.8	203.21	231.65
Other Operating Expenses	32.3	15.41	84.42	-10.92	59.51
Operating Expenses	189.31	197.41	341.22	192.29	291.17
Operating Income	-42.65	-43.38	201.97	-170.8	3.96
Interest Expense	-27.89	-67.27	-318.48	-298.05	-254.76
Interest & Investment Income	0.2	5.04	12.71	23.24	28.98
Earnings From Equity Investments	-31.31	-14.38	-58.87	1.34	13.38
Currency Exchange Gain (Loss)	87.95	-35.81	-47.94	-284.86	110.6
EBT Excluding Unusual Items	-13.7	-155.8	-210.61	-729.12	-97.83
Gain (Loss) on Sale of Investments	3.73	23.48	-66.84	-1.83	-76.45
Gain (Loss) on Sale of Assets	0.51	3.93	4.33	16.64	-
Asset Writedown	-396.06	-648.78	-586.83	-205.56	-1,909
Other Unusual Items	-	-	-	1.59	2.87
Pretax Income	-405.52	-777.18	-859.94	-918.28	-2,080
Income Tax Expense	181.58	-1.53	75.07	77.03	-93.36
Earnings From Continuing Operations	-587.1	-775.64	-935	-995.31	-1,987
Minority Interest in Earnings	2.82	-48.29	-100.1	-58.54	6.89
Net Income	-584.29	-823.94	-1,035	-1,054	-1,980
Net Income to Common	-584.29	-823.94	-1,035	-1,054	-1,980
Shares Outstanding (Basic)	180	180	180	180	180
Shares Outstanding (Diluted)	180	180	180	180	180
Shares Change (YoY)	-	-	-	-0.05%	-0.14%
EPS (Basic)	-3.25	-4.58	-5.75	-5.86	-11.00
EPS (Diluted)	-3.25	-4.58	-5.75	-5.86	-11.00
Free Cash Flow	-	-27.23	382.78	-193.73	940.79
Free Cash Flow Per Share	-	-0.15	2.13	-1.08	5.23
Gross Margin	32.40%	19.34%	22.75%	0.81%	16.56%
Operating Margin	-9.42%	-5.45%	8.46%	-6.42%	0.22%
Profit Margin	-129.07%	-103.46%	-43.35%	-39.62%	-111.09%
Free Cash Flow Margin	-	-3.42%	16.03%	-7.28%	52.78%
EBITDA	0.1	-0.63	248.83	-120.01	40.83
EBITDA Margin	0.02%	-0.08%	10.42%	-4.51%	2.29%
D&A For EBITDA	42.75	42.75	46.86	50.78	36.87
EBIT	-42.65	-43.38	201.97	-170.8	3.96
EBIT Margin	-9.42%	-5.45%	8.46%	-6.42%	0.22%

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