Veson Holdings 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	5,226	5,345	6,145	6,359	7,092
Revenue Growth (YoY)	-2.23%	-13.02%	-3.36%	-10.33%	14.08%
Cost of Revenue	4,836	4,975	5,749	5,906	6,579
Gross Profit	389.58	370.36	395.81	452.96	512.76
Selling, General & Admin	315.46	311.92	348.84	389.38	425.46
Other Operating Expenses	-17.97	-17.33	-29.93	-27.7	-43.49
Operating Expenses	291.93	306.52	316.11	369.23	380.18
Operating Income	97.65	63.84	79.7	83.73	132.58
Interest Expense	-52.04	-65.93	-71.34	-77.78	-77.53
Interest & Investment Income	5.9	8.54	10.37	12.8	10.79
Other Non Operating Income (Expenses)	-21.67	-5.87	-6.16	-5.62	3.15
EBT Excluding Unusual Items	29.85	0.58	12.56	13.13	69
Gain (Loss) on Sale of Investments	-	-	-	17.62	-
Gain (Loss) on Sale of Assets	-1.04	-20.45	-0.49	-0.07	-0.67
Asset Writedown	-0.68	-2.48	-1.15	-3.77	-3.83
Other Unusual Items	-	0.17	-	-	-
Pretax Income	28.13	-4.83	10.92	26.9	64.5
Income Tax Expense	12.31	5.1	-3.3	6.84	25.94
Earnings From Continuing Operations	15.82	-9.94	14.21	20.07	38.56
Minority Interest in Earnings	5.72	-2.04	5.9	3.97	3.62
Net Income	21.54	-11.98	20.11	24.04	42.18
Net Income to Common	21.54	-11.98	20.11	24.04	42.18
Net Income Growth	-	-	-16.35%	-43.01%	-
Shares Outstanding (Basic)	1,090	1,090	1,090	1,090	1,090
Shares Outstanding (Diluted)	1,090	1,090	1,090	1,090	1,090
EPS (Basic)	0.02	-0.01	0.02	0.02	0.04
EPS (Diluted)	0.02	-0.01	0.02	0.02	0.04
EPS Growth	-	-	-16.35%	-43.01%	-
Free Cash Flow	11.67	221.45	-130.34	-251.24	-5.83
Free Cash Flow Per Share	0.01	0.20	-0.12	-0.23	-0.01
Gross Margin	7.46%	6.93%	6.44%	7.12%	7.23%
Operating Margin	1.87%	1.19%	1.30%	1.32%	1.87%
Profit Margin	0.41%	-0.22%	0.33%	0.38%	0.60%
Free Cash Flow Margin	0.22%	4.14%	-2.12%	-3.95%	-0.08%
EBITDA	182.41	163.99	194.98	192.18	214.33
EBITDA Margin	3.49%	3.07%	3.17%	3.02%	3.02%
D&A For EBITDA	84.76	100.15	115.28	108.45	81.75
EBIT	97.65	63.84	79.7	83.73	132.58
EBIT Margin	1.87%	1.19%	1.30%	1.32%	1.87%
Effective Tax Rate	43.75%	-	-	25.41%	40.21%

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