Tongdao Liepin Group 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	1,986	2,081	2,282	2,638	2,651
Revenue Growth (YoY)	-4.56%	-8.82%	-13.49%	-0.51%	41.82%
Cost of Revenue	463.9	498.15	586.43	590.83	584.34
Gross Profit	1,522	1,583	1,696	2,047	2,067
Selling, General & Admin	1,175	1,224	1,462	1,613	1,580
Research & Development	272.14	303.84	360.39	400.28	336.95
Other Operating Expenses	-91.32	-15.59	-34.13	-53.48	-27.88
Operating Expenses	1,356	1,513	1,788	1,960	1,889
Operating Income	165.97	70.21	-92.29	86.98	178.49
Interest Expense	-16.2	-6.75	-8.26	-8.41	-6.94
Interest & Investment Income	-	130.5	120.44	79.2	55.18
Earnings From Equity Investments	3	0.73	1.21	0.34	1.15
Currency Exchange Gain (Loss)	-	5.58	4.65	31.95	-7.47
Other Non Operating Income (Expenses)	-	-1.68	-1.86	-1.54	-2.88
EBT Excluding Unusual Items	152.77	198.58	23.9	188.52	217.52
Gain (Loss) on Sale of Investments	-	-8.75	5.61	-43.15	-2.95
Other Unusual Items	-	-	-	-37.7	-
Pretax Income	152.77	189.84	29.5	107.68	214.56
Income Tax Expense	11.85	14.39	12.87	18.09	23.13
Earnings From Continuing Operations	140.92	175.45	16.63	89.59	191.43
Minority Interest in Earnings	-38.32	-42	-15.88	-45.22	-57
Net Income	102.6	133.45	0.75	44.37	134.43
Net Income to Common	102.6	133.45	0.75	44.37	134.43
Net Income Growth	-23.12%	17693.33%	-98.31%	-67.00%	150.67%
Shares Outstanding (Basic)	477	476	479	502	511
Shares Outstanding (Diluted)	481	478	482	504	516
Shares Change (YoY)	0.49%	-0.70%	-4.41%	-2.24%	-0.71%
EPS (Basic)	0.22	0.28	0.00	0.09	0.26
EPS (Diluted)	0.21	0.28	0.00	0.09	0.26
EPS Growth	-23.48%	17732.48%	-98.22%	-66.25%	152.37%
Free Cash Flow	214.62	71.62	5.79	118.29	661.75
Free Cash Flow Per Share	0.45	0.15	0.01	0.23	1.28
Gross Margin	76.64%	76.06%	74.30%	77.60%	77.96%
Operating Margin	8.36%	3.37%	-4.04%	3.30%	6.73%
Profit Margin	5.17%	6.41%	0.03%	1.68%	5.07%
Free Cash Flow Margin	10.81%	3.44%	0.25%	4.48%	24.96%
EBITDA	200.76	110.41	-47.04	156.34	249.04
EBITDA Margin	10.11%	5.31%	-2.06%	5.93%	9.39%
D&A For EBITDA	34.79	40.21	45.25	69.36	70.56
EBIT	165.97	70.21	-92.29	86.98	178.49
EBIT Margin	8.36%	3.37%	-4.04%	3.30%	6.73%
Effective Tax Rate	7.76%	7.58%	43.63%	16.80%	10.78%

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