Qilu Expressway Company 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	2,375	7,022	5,609	2,931	1,995
Revenue Growth (YoY)	-66.18%	25.19%	91.34%	46.91%	18.10%
Cost of Revenue	1,555	6,281	4,797	1,772	671.63
Gross Profit	819.19	740.59	811.98	1,159	1,324
Selling, General & Admin	103.84	112.15	108.67	77.23	69.36
Operating Expenses	111.14	118.17	121.5	87.29	71.08
Operating Income	708.05	622.42	690.49	1,072	1,253
Interest Expense	-274.57	-72.84	-68.28	-95.74	-127.41
Interest & Investment Income	68.28	101.38	63.96	45.11	13.26
Earnings From Equity Investments	0.92	0.8	39.17	12.71	0.36
Currency Exchange Gain (Loss)	-1.06	-	-	-	-0.36
Other Non Operating Income (Expenses)	4.2	5.51	-12.54	2.47	3.36
EBT Excluding Unusual Items	505.82	657.27	712.8	1,037	1,142
Gain (Loss) on Sale of Investments	-	-	0.8	4.87	-
Gain (Loss) on Sale of Assets	12.1	-	-	-	-
Pretax Income	517.92	657.27	713.59	1,042	1,142
Income Tax Expense	131.92	158.88	179.69	261.47	288.39
Earnings From Continuing Operations	386	498.39	533.9	780.06	853.43
Net Income to Company	386	498.39	533.9	780.06	853.43
Minority Interest in Earnings	-3.06	-13.81	-8.64	1.64	-
Net Income	382.94	484.59	525.26	781.69	853.43
Preferred Dividends & Other Adjustments	-	25.78	23.63	-	-
Net Income to Common	382.94	458.8	501.63	781.69	853.43
Net Income Growth	-20.98%	-7.74%	-32.80%	-8.41%	37.48%
Shares Outstanding (Basic)	2,000	2,000	2,000	2,000	2,000
Shares Outstanding (Diluted)	2,000	2,000	2,000	2,000	2,000
EPS (Basic)	0.19	0.23	0.25	0.39	0.43
EPS (Diluted)	0.18	0.23	0.25	0.39	0.43
EPS Growth	-21.54%	-8.24%	-35.90%	-8.61%	37.65%
Free Cash Flow	-	-3,807	-3,467	-761.91	1,212
Free Cash Flow Per Share	-	-1.90	-1.73	-0.38	0.61
Dividend Per Share	0.120	0.100	0.150	0.180	0.180
Dividend Growth	20.00%	-33.33%	-16.67%	-	-
Gross Margin	34.50%	10.55%	14.48%	39.55%	66.34%
Operating Margin	29.82%	8.86%	12.31%	36.57%	62.78%
Profit Margin	16.13%	6.53%	8.94%	26.67%	42.77%
Free Cash Flow Margin	-	-54.21%	-61.82%	-25.99%	60.72%
EBITDA	944.86	859.23	968.43	1,367	1,592
EBITDA Margin	39.79%	12.24%	17.27%	46.62%	79.80%
D&A For EBITDA	236.81	236.81	277.94	294.45	339.62
EBIT	708.05	622.42	690.49	1,072	1,253
EBIT Margin	29.82%	8.86%	12.31%	36.57%	62.78%
Effective Tax Rate	25.47%	24.17%	25.18%	25.10%	25.26%

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