Shenzhen HQVT Technology 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	668.52	522.57	117.06
Revenue Growth (YoY)	27.93%	346.40%	-
Cost of Revenue	519.13	424.4	102.76
Gross Profit	149.39	98.17	14.31
Selling, General & Admin	62.44	27.81	27.26
Research & Development	50.79	25.15	11.08
Other Operating Expenses	-2.52	-2.32	-2.73
Operating Expenses	116.62	55.68	36.65
Operating Income	32.77	42.49	-22.35
Interest Expense	-3.57	-0.9	-2.94
Interest & Investment Income	2.12	1.37	3.02
Currency Exchange Gain (Loss)	0.03	0.01	0.02
Other Non Operating Income (Expenses)	-0.88	-0.49	-0.71
EBT Excluding Unusual Items	30.48	42.48	-22.96
Gain (Loss) on Sale of Assets	-3.79	-0.02	-0.17
Other Unusual Items	0.8	-0.01	0.27
Pretax Income	27.49	42.46	-22.85
Income Tax Expense	-1.86	2.05	-4.44
Net Income	29.35	40.41	-18.41
Net Income to Common	29.35	40.41	-18.41
Net Income Growth	-27.36%	-	-
Shares Outstanding (Basic)	8	8	8
Shares Outstanding (Diluted)	8	8	8
Shares Change (YoY)	5.84%	0.53%	-
EPS (Basic)	3.49	5.09	-2.33
EPS (Diluted)	3.49	5.09	-2.33
EPS Growth	-31.37%	-	-
Free Cash Flow	-207.67	-40.48	46.81
Free Cash Flow Per Share	-24.70	-5.09	5.92
Gross Margin	22.35%	18.79%	12.22%
Operating Margin	4.90%	8.13%	-19.09%
Profit Margin	4.39%	7.73%	-15.73%
Free Cash Flow Margin	-31.06%	-7.75%	39.98%
EBITDA	38.75	47.73	-17.02
EBITDA Margin	5.80%	9.13%	-14.54%
D&A For EBITDA	5.97	5.23	5.33
EBIT	32.77	42.49	-22.35
EBIT Margin	4.90%	8.13%	-19.09%
Effective Tax Rate	-	4.82%	-