Nongfu Spring 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	FY 2021
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	Dec '21 Dec 31, 2021
Revenue	56,649	52,553	42,896	42,667	33,239	29,696
Revenue Growth	22.23%	22.51%	0.54%	28.36%	11.93%	29.81%
Cost of Revenue	22,199	20,745	17,980	17,260	14,144	12,040
Gross Profit	34,450	31,808	24,916	25,407	19,095	17,656
Selling, General & Admin	13,142	12,253	11,136	11,446	9,656	8,984
Operating Expenses	13,142	12,253	11,136	11,446	9,656	8,984
Operating Income	21,308	19,556	13,780	13,960	9,440	8,672
Interest Expense	-70.92	-66.9	-91.47	-99.74	-76.03	-52.95
Interest & Investment Income	556.06	579.67	866.1	991.25	623.36	330.66
Currency Exchange Gain (Loss)	-378.57	-198.57	75.09	46.02	370.12	-116.62
Other Non Operating Income (Expenses)	1,054	895.37	1,108	798.95	705.45	526.04
EBT Excluding Unusual Items	22,469	20,765	15,737	15,697	11,062	9,359
Gain (Loss) on Sale of Investments	171.26	171.26	60.39	-	2.29	4.75
Gain (Loss) on Sale of Assets	-18.75	-18.75	-9.74	-8.71	-14.46	-9.8
Pretax Income	22,621	20,918	15,788	15,688	11,050	9,354
Income Tax Expense	5,488	5,049	3,665	3,609	2,555	2,193
Earnings From Continuing Operations	17,133	15,868	12,123	12,079	8,495	7,162
Net Income	17,133	15,868	12,123	12,079	8,495	7,162
Preferred Dividends & Other Adjustments	6.17	6.17	-	1.28	1.79	-
Net Income to Common	17,127	15,862	12,123	12,078	8,493	7,162
Net Income Growth	26.81%	30.84%	0.37%	42.21%	18.59%	35.71%
Shares Outstanding (Basic)	11,242	11,246	11,246	11,244	11,244	11,246
Shares Outstanding (Diluted)	11,245	11,248	11,247	11,246	11,245	11,246
Shares Change	-0.02%	0.01%	0.01%	0.01%	-0.01%	2.83%
EPS (Basic)	1.52	1.41	1.08	1.07	0.76	0.64
EPS (Diluted)	1.52	1.41	1.08	1.07	0.76	0.64
EPS Growth	26.86%	30.84%	0.36%	42.20%	18.63%	31.97%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
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	Dec '21 Dec 31, 2021
Free Cash Flow	14,440	14,660	4,616	12,591	7,848	8,938
Free Cash Flow Per Share	1.28	1.30	0.41	1.12	0.70	0.80
Dividend Per Share	0.990	0.990	0.760	0.750	0.680	0.450
Dividend Growth	30.26%	30.26%	1.33%	10.29%	51.11%	164.71%
Gross Margin	60.81%	60.53%	58.08%	59.55%	57.45%	59.46%
Operating Margin	37.61%	37.21%	32.12%	32.72%	28.40%	29.20%
Profit Margin	30.23%	30.18%	28.26%	28.31%	25.55%	24.12%
Free Cash Flow Margin	25.49%	27.90%	10.76%	29.51%	23.61%	30.10%
EBITDA	24,731	22,771	16,509	16,484	11,799	10,960
EBITDA Margin	43.66%	43.33%	38.49%	38.63%	35.50%	36.91%
D&A For EBITDA	3,423	3,216	2,729	2,524	2,360	2,288
EBIT	21,308	19,556	13,780	13,960	9,440	8,672
EBIT Margin	37.61%	37.21%	32.12%	32.72%	28.40%	29.20%
Effective Tax Rate	24.26%	24.14%	23.21%	23.00%	23.12%	23.44%