HKG:2419 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	23,159	22,463	16,155	15,037	9,902
Revenue Growth (YoY)	3.10%	39.04%	7.44%	51.87%	21.56%
Cost of Revenue	19,976	17,474	16,031	12,969	9,137
Gross Profit	3,183	4,989	124.46	2,068	764.1
Selling, General & Admin	1,411	1,685	1,398	1,138	962.25
Research & Development	277.22	-	-	-	-
Other Operating Expenses	-62.68	-208.96	-280.36	-9.29	-155.2
Operating Expenses	1,621	1,489	1,135	1,142	812.97
Operating Income	1,561	3,500	-1,010	925.69	-48.87
Interest Expense	-277.76	-411.85	-441.52	-405.27	-312.24
Interest & Investment Income	273.5	38.61	47.07	30.46	32.62
Earnings From Equity Investments	-	-0.94	-0.1	-16.38	-3.27
Currency Exchange Gain (Loss)	-0.01	7.46	-2.34	-	-
Other Non Operating Income (Expenses)	-54.24	-	-	-	-
EBT Excluding Unusual Items	1,503	3,133	-1,407	534.49	-331.76
Gain (Loss) on Sale of Investments	-47.09	13.02	6.04	5.94	13.31
Gain (Loss) on Sale of Assets	0.53	151.44	123.18	65.21	-98.72
Asset Writedown	-33.94	904.31	-713.62	304.8	-2,754
Pretax Income	1,422	4,202	-1,992	910.44	-3,171
Income Tax Expense	0.7	0.09	0.36	0.68	1.99
Earnings From Continuing Operations	1,422	4,202	-1,992	909.76	-3,173
Minority Interest in Earnings	11.64	-100.15	217.01	83.11	175.36
Net Income	1,433	4,102	-1,775	992.87	-2,997
Net Income to Common	1,433	4,102	-1,775	992.87	-2,997
Net Income Growth	-65.06%	-	-	-	-
Shares Outstanding (Basic)	389	389	364	362	360
Shares Outstanding (Diluted)	389	389	364	362	360
Shares Change (YoY)	-0.03%	6.87%	0.53%	0.53%	0.70%
EPS (Basic)	3.69	10.55	-4.88	2.74	-8.32
EPS (Diluted)	3.69	10.55	-4.88	2.74	-8.32
EPS Growth	-65.05%	-	-	-	-
Free Cash Flow	-	4,389	-568.14	960.14	-2,156
Free Cash Flow Per Share	-	11.29	-1.56	2.65	-5.99
Dividend Per Share	-	0.900	-	-	-
Gross Margin	13.74%	22.21%	0.77%	13.75%	7.72%
Operating Margin	6.74%	15.58%	-6.25%	6.16%	-0.49%
Profit Margin	6.19%	18.26%	-10.99%	6.60%	-30.27%
Free Cash Flow Margin	-	19.54%	-3.52%	6.39%	-21.78%
EBITDA	2,191	4,130	-428.6	1,419	336.95
EBITDA Margin	9.46%	18.38%	-2.65%	9.43%	3.40%
D&A For EBITDA	629.92	629.92	581.89	492.82	385.81
EBIT	1,561	3,500	-1,010	925.69	-48.87
EBIT Margin	6.74%	15.58%	-6.25%	6.16%	-0.49%
Effective Tax Rate	0.05%	0.00%	-	0.07%	-

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