HKG:2635 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	572.63	498.16	402.64	363.7	252.62
Revenue Growth	27.68%	23.72%	10.71%	43.97%	-
Cost of Revenue	228.99	231.97	165.41	152.35	112.26
Gross Profit	343.65	266.19	237.23	211.35	140.36
Selling, General & Admin	68.85	56.56	52.15	36.18	25.92
Research & Development	120.42	82.95	59.56	56.65	44.49
Operating Expenses	203.82	149.49	128.51	120.95	85.74
Operating Income	139.83	116.7	108.73	90.4	54.63
Interest Expense	-6.14	-4.17	-3.42	-2.32	-1.44
Interest & Investment Income	1.83	1.83	1.55	1.22	0.89
Other Non Operating Income (Expenses)	15.86	16.14	19.05	7.56	18.48
EBT Excluding Unusual Items	142.05	130.5	125.91	96.86	72.56
Other Unusual Items	0.11	0.11	0.19	-	-
Pretax Income	142.17	130.62	126.1	96.86	72.56
Income Tax Expense	11.03	12.77	10.74	8.29	9.39
Net Income	131.45	117.84	115.37	88.57	63.16
Net Income to Common	131.45	117.84	115.37	88.57	63.16
Net Income Growth	25.53%	2.15%	30.26%	40.22%	-
Shares Outstanding (Basic)	361	342	335	320	282
Shares Outstanding (Diluted)	361	342	335	320	282
Shares Change	5.82%	2.00%	4.70%	13.38%	-
EPS (Basic)	0.36	0.34	0.34	0.28	0.22
EPS (Diluted)	0.36	0.34	0.34	0.28	0.22
EPS Growth	18.63%	0.15%	24.41%	23.67%	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Free Cash Flow	-126.17	-12.4	-36.36	-102.15	-83.06
Free Cash Flow Per Share	-0.35	-0.04	-0.11	-0.32	-0.29
Gross Margin	60.01%	53.43%	58.92%	58.11%	55.56%
Operating Margin	24.42%	23.43%	27.00%	24.86%	21.62%
Profit Margin	22.96%	23.66%	28.65%	24.35%	25.00%
Free Cash Flow Margin	-22.03%	-2.49%	-9.03%	-28.09%	-32.88%
EBITDA	174.18	142.78	111.9	91.52	55.23
EBITDA Margin	30.42%	28.66%	27.79%	25.16%	21.86%
D&A For EBITDA	34.35	26.08	3.17	1.12	0.6
EBIT	139.83	116.7	108.73	90.4	54.63
EBIT Margin	24.42%	23.43%	27.00%	24.86%	21.62%
Effective Tax Rate	7.76%	9.78%	8.51%	8.56%	12.95%