Mulsanne Group Holding 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	2,056	2,270	2,329	2,326	2,695
Revenue Growth (YoY)	-9.42%	-2.55%	0.12%	-13.69%	-5.81%
Cost of Revenue	1,008	1,071	1,117	1,188	1,367
Gross Profit	1,048	1,199	1,212	1,138	1,328
Selling, General & Admin	992.93	1,145	1,128	1,089	1,151
Other Operating Expenses	10.41	6.36	8.48	20.26	15.21
Operating Expenses	1,004	1,142	1,144	1,116	1,308
Operating Income	44.64	57.15	68.55	21.52	19.62
Interest Expense	-25.92	-53.22	-67.79	-63.08	-59.41
Interest & Investment Income	2.16	20.29	25.26	32	2.43
Earnings From Equity Investments	-	-	-	-	0.72
Currency Exchange Gain (Loss)	-	0.67	7.18	7.86	-
Other Non Operating Income (Expenses)	20.13	23.3	18.62	20.93	-70.37
EBT Excluding Unusual Items	41.01	48.18	51.81	19.22	-107.02
Gain (Loss) on Sale of Investments	-	-	-	-	0.67
Other Unusual Items	0.8	0.9	-	2.41	1.98
Pretax Income	41.82	49.08	51.81	21.63	-104.37
Income Tax Expense	10.19	18.15	14.56	12.28	-13.03
Earnings From Continuing Operations	31.62	30.93	37.25	9.35	-91.34
Minority Interest in Earnings	-	0.03	2.32	3.08	1.66
Net Income	31.62	30.95	39.57	12.43	-89.68
Net Income to Common	31.62	30.95	39.57	12.43	-89.68
Net Income Growth	2.17%	-21.77%	218.34%	-	-
Shares Outstanding (Basic)	913	913	913	913	913
Shares Outstanding (Diluted)	913	913	913	917	913
Shares Change (YoY)	-	-	-0.44%	0.45%	-
EPS (Basic)	0.03	0.03	0.04	0.01	-0.10
EPS (Diluted)	0.03	0.03	0.04	0.01	-0.10
EPS Growth	2.23%	-21.82%	218.83%	-	-
Free Cash Flow	235.78	41.31	217.8	130.62	28.05
Free Cash Flow Per Share	0.26	0.04	0.24	0.14	0.03
Gross Margin	50.99%	52.82%	52.05%	48.91%	49.27%
Operating Margin	2.17%	2.52%	2.94%	0.92%	0.73%
Profit Margin	1.54%	1.36%	1.70%	0.53%	-3.33%
Free Cash Flow Margin	11.47%	1.82%	9.35%	5.62%	1.04%
EBITDA	104.17	127.92	133.91	85.11	74.64
EBITDA Margin	5.07%	5.64%	5.75%	3.66%	2.77%
D&A For EBITDA	59.53	70.77	65.36	63.59	55.02
EBIT	44.64	57.15	68.55	21.52	19.62
EBIT Margin	2.17%	2.52%	2.94%	0.92%	0.73%
Effective Tax Rate	24.37%	36.99%	28.11%	56.77%	-

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