Hengdeli Holdings 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	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	648.95	1,044	1,421	1,039	877.99
Revenue Growth (YoY)	-37.81%	-26.58%	36.77%	18.37%	-28.02%
Cost of Revenue	485.4	894.8	1,206	915.69	740.08
Gross Profit	163.55	148.76	215.27	123.59	137.92
Selling, General & Admin	231.56	254.03	233.91	188.8	170.77
Other Operating Expenses	-7.23	-19.66	-8.08	-7.36	-6.55
Operating Expenses	267.19	234.37	225.82	181.45	164.22
Operating Income	-103.64	-85.61	-10.56	-57.85	-26.31
Interest Expense	-2.14	-4	-3.92	-2.86	-2.65
Interest & Investment Income	42.54	46.72	39.22	24.68	29.28
Earnings From Equity Investments	-8.3	23.17	16.36	76.46	51
Currency Exchange Gain (Loss)	45.32	-41.87	-11.56	-57.84	11.25
Other Non Operating Income (Expenses)	-0.5	-0.56	-1.46	-0.43	-0.26
EBT Excluding Unusual Items	-26.73	-62.15	28.07	-17.85	62.31
Impairment of Goodwill	-	-	-	-	-12.86
Gain (Loss) on Sale of Investments	5.57	10.56	3.16	-5.14	0.19
Gain (Loss) on Sale of Assets	0.86	0.12	-1.96	-8.71	0.04
Asset Writedown	-	4.77	3.96	-	-
Pretax Income	-20.29	-46.71	33.24	-31.7	49.68
Income Tax Expense	3.88	8.76	-1.95	2.97	0.39
Earnings From Continuing Operations	-24.17	-55.47	35.19	-34.67	49.29
Earnings From Discontinued Operations	-	-	-	-53.47	-29.08
Net Income to Company	-24.17	-55.47	35.19	-88.14	20.21
Minority Interest in Earnings	-2.73	-9.69	-1.31	8.12	6.07
Net Income	-26.9	-65.16	33.89	-80.02	26.28
Net Income to Common	-26.9	-65.16	33.89	-80.02	26.28
Shares Outstanding (Basic)	4,404	4,404	4,404	4,428	4,488
Shares Outstanding (Diluted)	4,404	4,404	4,404	4,428	4,488
Shares Change (YoY)	-	-	-0.55%	-1.34%	-3.74%
EPS (Basic)	-0.01	-0.01	0.01	-0.02	0.01
EPS (Diluted)	-0.01	-0.01	0.01	-0.02	0.01
Free Cash Flow	-	-125.16	-132.6	179.08	-155.68
Free Cash Flow Per Share	-	-0.03	-0.03	0.04	-0.04
Gross Margin	25.20%	14.26%	15.14%	11.89%	15.71%
Operating Margin	-15.97%	-8.20%	-0.74%	-5.57%	-3.00%
Profit Margin	-4.15%	-6.24%	2.38%	-7.70%	2.99%
Free Cash Flow Margin	-	-11.99%	-9.33%	17.23%	-17.73%
EBITDA	-47.76	-29.74	31.62	-22.05	4.88
EBITDA Margin	-7.36%	-2.85%	2.22%	-2.12%	0.56%
D&A For EBITDA	55.88	55.88	42.17	35.81	31.19
EBIT	-103.64	-85.61	-10.56	-57.85	-26.31
EBIT Margin	-15.97%	-8.20%	-0.74%	-5.57%	-3.00%
Effective Tax Rate	-	-	-	-	0.79%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.