Model N Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,073	1,583	768.48	675.35
Revenue Growth (YoY)	30.96%	106.00%	13.79%	-
Cost of Revenue	1,238	1,018	493.19	548.82
Gross Profit	835.4	565.14	275.29	126.52
Selling, General & Admin	437.9	277.04	129.49	77.01
Research & Development	41.36	35.89	20.82	18.12
Other Operating Expenses	-32.53	-3.38	-1.71	-0.68
Operating Expenses	446.88	309.46	148.69	94.53
Operating Income	388.52	255.69	126.6	31.99
Interest Expense	-0.26	-0.3	-1.97	-1.29
Interest & Investment Income	19.16	7.45	5.45	4.86
Currency Exchange Gain (Loss)	9.56	15.19	-2.12	0.34
Other Non Operating Income (Expenses)	-0.01	0.19	-0.48	-0.5
EBT Excluding Unusual Items	416.96	278.21	127.48	35.41
Gain (Loss) on Sale of Investments	0.3	0.1	0.97	0.77
Gain (Loss) on Sale of Assets	-0	0	-2	-0.14
Pretax Income	417.26	278.31	126.45	36.04
Income Tax Expense	61.3	41.84	17.96	4.39
Earnings From Continuing Operations	355.96	236.47	108.49	31.66
Minority Interest in Earnings	0.03	0.66	0.28	0.06
Net Income	355.99	237.13	108.77	31.72
Net Income to Common	355.99	237.13	108.77	31.72
Net Income Growth	50.13%	118.01%	242.93%	-
Shares Outstanding (Basic)	440	404	404	404
Shares Outstanding (Diluted)	440	404	404	404
Shares Change (YoY)	8.96%	-	-	-
EPS (Basic)	0.81	0.59	0.27	0.08
EPS (Diluted)	0.81	0.59	0.27	0.08
EPS Growth	37.96%	118.01%	242.93%	-
Free Cash Flow	281.23	238.09	11.25	108.26
Free Cash Flow Per Share	0.64	0.59	0.03	0.27
Dividend Per Share	0.130	-	-	-
Gross Margin	40.29%	35.70%	35.82%	18.73%
Operating Margin	18.74%	16.15%	16.47%	4.74%
Profit Margin	17.17%	14.98%	14.15%	4.70%
Free Cash Flow Margin	13.56%	15.04%	1.46%	16.03%
EBITDA	391.55	258.55	128.36	36.2
EBITDA Margin	18.89%	16.33%	16.70%	5.36%
D&A For EBITDA	3.03	2.86	1.77	4.21
EBIT	388.52	255.69	126.6	31.99
EBIT Margin	18.74%	16.15%	16.47%	4.74%
Effective Tax Rate	14.69%	15.03%	14.21%	12.17%

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