Binhai Investment Company Income Statement

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

Millions HKD. 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	5,606	6,198	6,407	6,103	4,843
Revenue Growth (YoY)	-9.54%	-3.26%	4.98%	26.01%	32.54%
Cost of Revenue	5,087	5,628	5,658	5,375	3,987
Gross Profit	519.53	569.48	748.98	727.32	855.44
Selling, General & Admin	200.88	202.96	218.61	314.82	305.92
Research & Development	84.06	112.55	131.58	-	-
Other Operating Expenses	-140.21	-169.09	-140.09	-71.2	-34.34
Operating Expenses	160.96	158.48	227.64	212.9	301.65
Operating Income	358.57	411	521.34	514.43	553.79
Interest Expense	-75.18	-138.56	-163.01	-116.9	-104.62
Interest & Investment Income	-	17.86	6.61	10.33	3.74
Earnings From Equity Investments	15.67	14.6	10.77	6.99	8.5
Currency Exchange Gain (Loss)	-	-26.61	-32.25	-84.17	24.59
Other Non Operating Income (Expenses)	2.79	0.17	-	-	4.85
EBT Excluding Unusual Items	301.85	278.47	343.46	330.68	490.85
Gain (Loss) on Sale of Investments	-	-5.73	-	-	7.3
Gain (Loss) on Sale of Assets	-	-0.43	0.02	27.8	-0.54
Asset Writedown	-	-11.76	-9.15	-	-9.75
Other Unusual Items	-	49.81	20.37	29.93	7.43
Pretax Income	301.85	310.36	354.7	388.4	495.29
Income Tax Expense	89.88	101.1	91.28	55.65	85.26
Earnings From Continuing Operations	211.97	209.26	263.42	332.75	410.03
Minority Interest in Earnings	-5.82	-9.49	-6.81	-6.92	-10.37
Net Income	206.15	199.78	256.61	325.83	399.66
Net Income to Common	206.15	199.78	256.61	325.83	399.66
Net Income Growth	3.19%	-22.15%	-21.24%	-18.47%	12.61%
Shares Outstanding (Basic)	1,374	1,369	1,352	1,352	1,352
Shares Outstanding (Diluted)	1,374	1,369	1,356	1,356	1,356
Shares Change (YoY)	0.39%	0.94%	0.05%	-0.01%	10.93%
EPS (Basic)	0.15	0.15	0.19	0.24	0.30
EPS (Diluted)	0.15	0.15	0.19	0.24	0.29
EPS Growth	2.79%	-22.79%	-21.25%	-18.64%	1.72%
Free Cash Flow	-	216.24	264.54	-285.59	-204.76
Free Cash Flow Per Share	-	0.16	0.20	-0.21	-0.15
Dividend Per Share	-	0.076	0.076	0.100	0.090
Dividend Growth	-	-	-24.00%	11.11%	13.92%
Gross Margin	9.27%	9.19%	11.69%	11.92%	17.66%
Operating Margin	6.40%	6.63%	8.14%	8.43%	11.43%
Profit Margin	3.68%	3.22%	4.00%	5.34%	8.25%
Free Cash Flow Margin	-	3.49%	4.13%	-4.68%	-4.23%
EBITDA	559.22	611.64	723.07	697.12	728.22
EBITDA Margin	9.98%	9.87%	11.29%	11.42%	15.04%
D&A For EBITDA	200.65	200.65	201.73	182.69	174.43
EBIT	358.57	411	521.34	514.43	553.79
EBIT Margin	6.40%	6.63%	8.14%	8.43%	11.43%
Effective Tax Rate	29.78%	32.57%	25.73%	14.33%	17.21%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.