HKG:9686 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	464.14	501.5	537.72	687.42	614.3
Revenue Growth (YoY)	-7.45%	-6.74%	-21.78%	11.90%	22.13%
Cost of Revenue	337.18	354.37	372.9	518.97	444.07
Gross Profit	126.96	147.13	164.81	168.45	170.23
Selling, General & Admin	152.79	149.07	214.86	265.46	332.53
Research & Development	32.69	42.01	55.58	78.96	85.32
Other Operating Expenses	-5.38	-9.46	-3.61	-19.45	-13.2
Operating Expenses	161.97	218.48	267.43	351.34	432.11
Operating Income	-35.01	-71.35	-102.62	-182.89	-261.88
Interest Expense	-22.57	-27.02	-38.28	-42.88	-36.31
Interest & Investment Income	16.86	20.9	5.22	4.81	1.52
Earnings From Equity Investments	-4.53	-17.43	-4.93	-4.76	-4.15
Currency Exchange Gain (Loss)	-	0.04	-2.65	-13.02	1.71
Other Non Operating Income (Expenses)	0.06	-0.31	-5.93	-10.29	3.84
EBT Excluding Unusual Items	-45.19	-95.18	-149.19	-249.03	-295.28
Gain (Loss) on Sale of Investments	7.69	10.6	1.98	-	-
Gain (Loss) on Sale of Assets	3.27	-0.93	-1.46	10.72	20.06
Legal Settlements	-	-	-	-	-17.63
Other Unusual Items	1.73	1.58	1.03	-	-
Pretax Income	-32.5	-83.93	-147.64	-238.31	-292.85
Income Tax Expense	6.05	-0.08	7.26	4.95	1.9
Earnings From Continuing Operations	-38.55	-83.85	-154.89	-243.26	-294.74
Minority Interest in Earnings	-0.37	0.79	0.24	1.29	-1.79
Net Income	-38.93	-83.05	-154.65	-241.97	-296.54
Net Income to Common	-38.93	-83.05	-154.65	-241.97	-296.54
Shares Outstanding (Basic)	842	842	679	621	621
Shares Outstanding (Diluted)	842	842	679	621	621
Shares Change (YoY)	-	24.05%	9.25%	-	0.24%
EPS (Basic)	-0.05	-0.10	-0.23	-0.39	-0.48
EPS (Diluted)	-0.05	-0.10	-0.23	-0.39	-0.48
Free Cash Flow	-	8.13	-24.42	-81.17	-101.77
Free Cash Flow Per Share	-	0.01	-0.04	-0.13	-0.16
Gross Margin	27.36%	29.34%	30.65%	24.50%	27.71%
Operating Margin	-7.54%	-14.23%	-19.08%	-26.61%	-42.63%
Profit Margin	-8.39%	-16.56%	-28.76%	-35.20%	-48.27%
Free Cash Flow Margin	-	1.62%	-4.54%	-11.81%	-16.57%
EBITDA	-26.58	-62.92	-92.5	-169.96	-244.23
EBITDA Margin	-5.73%	-12.55%	-17.20%	-24.73%	-39.76%
D&A For EBITDA	8.43	8.43	10.12	12.92	17.65
EBIT	-35.01	-71.35	-102.62	-182.89	-261.88
EBIT Margin	-7.54%	-14.23%	-19.08%	-26.61%	-42.63%
Advertising Expenses	-	-	-	8.78	2.85

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