HKG:1728 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	18,711	20,747	24,132	22,607	20,986
Revenue Growth (YoY)	-9.81%	-14.03%	6.75%	7.73%	24.32%
Cost of Revenue	18,489	19,968	23,123	21,020	19,750
Gross Profit	222.01	779.07	1,009	1,587	1,236
Selling, General & Admin	1,802	1,949	2,167	2,492	2,433
Other Operating Expenses	-204.69	-648.47	-1,255	-926.51	-401.6
Operating Expenses	1,597	1,301	912.65	1,566	2,031
Operating Income	-1,375	-521.5	95.95	21.37	-795.53
Interest Expense	-801.04	-902.03	-1,025	-984.15	-1,302
Interest & Investment Income	72.23	89.54	96.81	37.44	14.13
Earnings From Equity Investments	1.25	3.67	-0.5	43.06	45.34
Other Non Operating Income (Expenses)	-21.98	-34.69	-29.13	-22.85	-
EBT Excluding Unusual Items	-2,125	-1,365	-862.05	-905.13	-2,038
Impairment of Goodwill	-78.69	-32.1	-	-	-127.06
Gain (Loss) on Sale of Investments	1.55	4.18	-115.92	424.27	-120.83
Gain (Loss) on Sale of Assets	-5.22	-4.47	91.36	118.1	261.74
Asset Writedown	-220.6	-84.61	-	232.43	-189.56
Pretax Income	-2,428	-1,482	-886.6	-130.34	-2,214
Income Tax Expense	62.9	47.08	-66.12	167.08	-9.64
Earnings From Continuing Operations	-2,490	-1,529	-820.48	-297.42	-2,204
Earnings From Discontinued Operations	-	-	-	-	-1,422
Net Income to Company	-2,490	-1,529	-820.48	-297.42	-3,626
Minority Interest in Earnings	-93.34	-72.29	-28.8	1.14	3.83
Net Income	-2,584	-1,601	-849.28	-296.29	-3,622
Preferred Dividends & Other Adjustments	90.58	107.13	41.71	-	-
Net Income to Common	-2,674	-1,709	-890.99	-296.29	-3,622
Shares Outstanding (Basic)	7,222	3,049	2,793	2,720	2,708
Shares Outstanding (Diluted)	7,222	3,049	2,793	2,720	2,708
Shares Change (YoY)	136.86%	9.19%	2.66%	0.46%	5.68%
EPS (Basic)	-0.37	-0.56	-0.32	-0.11	-1.34
EPS (Diluted)	-0.37	-0.56	-0.32	-0.11	-1.34
Free Cash Flow	-	-339.02	-1,087	-710.11	-482.8
Free Cash Flow Per Share	-	-0.11	-0.39	-0.26	-0.18
Gross Margin	1.19%	3.75%	4.18%	7.02%	5.89%
Operating Margin	-7.35%	-2.51%	0.40%	0.10%	-3.79%
Profit Margin	-14.29%	-8.24%	-3.69%	-1.31%	-17.26%
Free Cash Flow Margin	-	-1.63%	-4.51%	-3.14%	-2.30%
EBITDA	-820.75	32.8	611.16	486.11	-279.11
EBITDA Margin	-4.39%	0.16%	2.53%	2.15%	-1.33%
D&A For EBITDA	554.3	554.3	515.21	464.74	516.42
EBIT	-1,375	-521.5	95.95	21.37	-795.53
EBIT Margin	-7.35%	-2.51%	0.40%	0.10%	-3.79%

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