ZONQING Environmental 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	1,639	1,743	2,355	1,116	936.6
Revenue Growth (YoY)	-5.99%	-26.00%	110.98%	19.20%	-6.47%
Cost of Revenue	1,293	1,429	1,905	922.69	725.37
Gross Profit	345.32	314.03	450.85	193.75	211.23
Selling, General & Admin	122.94	116.69	110.47	105.65	103.17
Other Operating Expenses	-1.74	-10.08	-4.3	-6.58	-17.26
Operating Expenses	175.31	172.66	199.85	237.8	149.94
Operating Income	170.01	141.37	251	-44.05	61.29
Interest Expense	-56.77	-60.13	-65.13	-66	-37.47
Interest & Investment Income	1.75	6.77	6.45	5.72	5.14
Earnings From Equity Investments	-52.1	-27.63	-3.02	-3.07	7.79
Currency Exchange Gain (Loss)	0.8	-0.91	-0.28	-7.38	-0.17
Other Non Operating Income (Expenses)	-7.05	-13.8	-16.45	0.26	-0.21
EBT Excluding Unusual Items	56.64	45.67	172.57	-114.52	36.37
Gain (Loss) on Sale of Assets	0	-0.3	0.09	-0.23	0.11
Other Unusual Items	-	-	-	-	0.53
Pretax Income	56.65	45.37	172.65	-114.75	37.01
Income Tax Expense	29.43	-0.71	19.43	-18.06	3.6
Earnings From Continuing Operations	27.21	46.09	153.23	-96.69	33.41
Minority Interest in Earnings	-5.26	-6.12	-18.02	0.35	0.15
Net Income	21.96	39.97	135.21	-96.34	33.56
Net Income to Common	21.96	39.97	135.21	-96.34	33.56
Net Income Growth	-45.07%	-70.44%	-	-	-51.01%
Shares Outstanding (Basic)	825	825	825	825	822
Shares Outstanding (Diluted)	825	825	825	825	822
Shares Change (YoY)	-	-	-	0.33%	24.59%
EPS (Basic)	0.03	0.05	0.16	-0.12	0.04
EPS (Diluted)	0.03	0.05	0.16	-0.12	0.04
EPS Growth	-45.07%	-70.44%	-	-	-60.68%
Free Cash Flow	-	-49.36	209.37	86.3	-105.25
Free Cash Flow Per Share	-	-0.06	0.25	0.10	-0.13
Dividend Per Share	-	-	0.024	-	-
Gross Margin	21.07%	18.02%	19.14%	17.35%	22.55%
Operating Margin	10.38%	8.11%	10.66%	-3.94%	6.54%
Profit Margin	1.34%	2.29%	5.74%	-8.63%	3.58%
Free Cash Flow Margin	-	-2.83%	8.89%	7.73%	-11.24%
EBITDA	181.4	152.76	260.69	-35.92	64.05
EBITDA Margin	11.07%	8.76%	11.07%	-3.22%	6.84%
D&A For EBITDA	11.39	11.39	9.69	8.12	2.76
EBIT	170.01	141.37	251	-44.05	61.29
EBIT Margin	10.38%	8.11%	10.66%	-3.94%	6.54%
Effective Tax Rate	51.96%	-	11.25%	-	9.72%

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