HKG:2590 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	3,171	2,409	2,143	1,452
Revenue Growth (YoY)	31.63%	12.42%	47.57%	-
Cost of Revenue	2,046	1,572	1,484	1,196
Gross Profit	1,125	837.17	659.27	256.55
Selling, General & Admin	809.17	665.93	772.76	676.46
Research & Development	335.08	282.05	379.87	436.79
Other Operating Expenses	10.21	-11.17	-13.35	-13.9
Operating Expenses	1,190	948.4	1,149	1,111
Operating Income	-64.85	-111.23	-489.87	-854.09
Interest Expense	-12.73	-13.92	-13.28	-12.49
Interest & Investment Income	58.29	15.56	27.24	4.39
Earnings From Equity Investments	15	0.02	14.9	-14.97
Currency Exchange Gain (Loss)	-20.45	-28	-1.09	55.83
Other Non Operating Income (Expenses)	-	-3.58	-	-
EBT Excluding Unusual Items	-24.73	-141.16	-462.1	-821.32
Gain (Loss) on Sale of Assets	-1.78	-0.31	-6.32	-0.9
Asset Writedown	-	-	-6.09	-9.86
Other Unusual Items	21.16	-685.81	-648.01	-731.97
Pretax Income	-5.34	-827.28	-1,123	-1,564
Income Tax Expense	5.07	4.22	4.16	3.05
Net Income	-10.41	-831.5	-1,127	-1,567
Preferred Dividends & Other Adjustments	-35.86	-621.84	-842.6	-1,140
Net Income to Common	25.46	-209.66	-284.09	-426.75
Shares Outstanding (Basic)	792	292	292	292
Shares Outstanding (Diluted)	792	292	292	292
Shares Change (YoY)	170.98%	-	-	-
EPS (Basic)	0.03	-0.72	-0.97	-1.46
EPS (Diluted)	0.03	-0.72	-0.97	-1.46
Free Cash Flow	-44.43	-210.34	-525.46	-685.18
Free Cash Flow Per Share	-0.06	-0.72	-1.80	-2.34
Gross Margin	35.48%	34.75%	30.76%	17.67%
Operating Margin	-2.04%	-4.62%	-22.86%	-58.81%
Profit Margin	0.80%	-8.70%	-13.26%	-29.39%
Free Cash Flow Margin	-1.40%	-8.73%	-24.52%	-47.18%
EBITDA	-47.5	-84.6	-446.81	-797.63
EBITDA Margin	-1.50%	-3.51%	-20.85%	-54.93%
D&A For EBITDA	17.35	26.64	43.06	56.46
EBIT	-64.85	-111.23	-489.87	-854.09
EBIT Margin	-2.04%	-4.62%	-22.86%	-58.81%

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