Shanghai REFIRE Group Limited (HKG:2570)

Shanghai REFIRE Group Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	595.19	648.78	895.28	604.65	524.11
Revenue	595.19	648.78	895.28	604.65	524.11
Revenue Growth (YoY)	-8.26%	-27.53%	48.07%	15.37%	-14.46%
Cost of Revenue	526.49	537.01	715.66	554.83	462.32
Gross Profit	68.7	111.77	179.62	49.82	61.79
Selling, General & Admin	307.84	594.37	474.5	345.52	308.7
Research & Development	127.82	219.37	220.88	198.69	230.89
Other Operating Expenses	242.6	0.84	3.01	-	-
Operating Expenses	678.27	883.64	759.35	544.21	539.59
Operating Income	-609.57	-771.87	-579.73	-494.39	-477.81
Interest Expense	-58.49	-57.17	-47.93	-49.02	-50.06
Interest & Investment Income	13.7	6.1	17.44	18.94	7.47
Earnings From Equity Investments	-19.94	-15.18	-3.86	-21.45	-8.22
Other Non Operating Income (Expenses)	18.49	32.14	35.38	-4.04	-135.3
EBT Excluding Unusual Items	-655.81	-805.98	-578.7	-549.95	-663.91
Gain (Loss) on Sale of Investments	27.97	26.16	-1.11	4.48	13.61
Other Unusual Items	-	0.22	0.04	-	-
Pretax Income	-627.84	-779.61	-579.77	-545.47	-650.3
Income Tax Expense	1.82	-1.85	-2.24	0.63	3.99
Earnings From Continuing Operations	-629.65	-777.76	-577.53	-546.1	-654.29
Minority Interest in Earnings	26.82	40.46	48.06	40.13	81.49
Net Income	-602.83	-737.3	-529.47	-505.97	-572.8
Net Income to Common	-602.83	-737.3	-529.47	-505.97	-572.8
Shares Outstanding (Basic)	86	82	81	75	65
Shares Outstanding (Diluted)	86	82	81	75	65
Shares Change (YoY)	5.85%	0.41%	8.17%	15.65%	-
EPS (Basic)	-6.98	-9.03	-6.51	-6.73	-8.81
EPS (Diluted)	-6.98	-9.03	-6.51	-6.73	-8.81
Free Cash Flow	-	-453.85	-860.53	-850.06	-922.98
Free Cash Flow Per Share	-	-5.56	-10.58	-11.31	-14.20
Gross Margin	11.54%	17.23%	20.06%	8.24%	11.79%
Operating Margin	-102.42%	-118.97%	-64.75%	-81.76%	-91.17%
Profit Margin	-101.28%	-113.64%	-59.14%	-83.68%	-109.29%
Free Cash Flow Margin	-	-69.95%	-96.12%	-140.59%	-176.10%
EBITDA	-513.81	-676.12	-485.47	-414.57	-414.61
EBITDA Margin	-86.33%	-104.21%	-54.23%	-68.56%	-79.11%
D&A For EBITDA	95.75	95.75	94.26	79.82	63.2
EBIT	-609.57	-771.87	-579.73	-494.39	-477.81
EBIT Margin	-102.42%	-118.97%	-64.75%	-81.76%	-91.17%

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