Adicon 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	2,638	2,914	3,298	4,861	3,380
Revenue Growth (YoY)	-9.46%	-11.63%	-32.15%	43.83%	23.26%
Cost of Revenue	1,686	1,818	1,880	2,966	1,937
Gross Profit	952.65	1,096	1,418	1,895	1,442
Selling, General & Admin	701.34	718.97	756.17	835.53	752.79
Research & Development	103.67	120.04	143.52	162.75	125.45
Other Operating Expenses	5.89	12.32	13.82	6.22	5.06
Operating Expenses	810.9	851.32	913.51	1,004	883.3
Operating Income	141.75	245.01	504.62	890.25	559.09
Interest Expense	-48.51	-52.36	-86.32	-63.37	-16.33
Interest & Investment Income	13.19	21.47	20.16	8.87	6.29
Earnings From Equity Investments	-0.18	-	-	-	-
Currency Exchange Gain (Loss)	-19.52	7.59	-8.2	-6.74	-0.05
Other Non Operating Income (Expenses)	19.14	6.37	-52.01	4.83	-27.61
EBT Excluding Unusual Items	105.87	228.08	378.25	833.84	521.39
Gain (Loss) on Sale of Investments	-49.71	-139.78	-57.86	-111.65	-39.7
Gain (Loss) on Sale of Assets	-4.37	-7.92	-2.52	-1.75	-2.92
Other Unusual Items	-	11.57	31.5	100.38	-61.53
Pretax Income	51.78	91.96	349.37	820.81	417.24
Income Tax Expense	29.04	29.4	87.05	135.93	94.95
Earnings From Continuing Operations	22.75	62.56	262.32	684.88	322.3
Minority Interest in Earnings	-4.3	-15.55	-27.44	-4.09	-6.76
Net Income	18.44	47.01	234.89	680.79	315.54
Net Income to Common	18.44	47.01	234.89	680.79	315.54
Net Income Growth	-60.77%	-79.98%	-65.50%	115.76%	11.06%
Shares Outstanding (Basic)	715	721	691	653	631
Shares Outstanding (Diluted)	715	721	717	706	631
Shares Change (YoY)	-0.95%	0.66%	1.48%	11.92%	7.53%
EPS (Basic)	0.03	0.07	0.34	1.04	0.50
EPS (Diluted)	0.03	0.07	0.31	0.96	0.50
EPS Growth	-60.39%	-79.09%	-67.53%	92.00%	4.17%
Free Cash Flow	-	115.43	228.29	664.64	409.26
Free Cash Flow Per Share	-	0.16	0.32	0.94	0.65
Gross Margin	36.11%	37.62%	43.00%	38.98%	42.68%
Operating Margin	5.37%	8.41%	15.30%	18.32%	16.54%
Profit Margin	0.70%	1.61%	7.12%	14.01%	9.34%
Free Cash Flow Margin	-	3.96%	6.92%	13.67%	12.11%
EBITDA	254.8	358.07	611.22	1,022	645.04
EBITDA Margin	9.66%	12.29%	18.53%	21.03%	19.09%
D&A For EBITDA	113.06	113.06	106.6	132.03	85.95
EBIT	141.75	245.01	504.62	890.25	559.09
EBIT Margin	5.37%	8.41%	15.30%	18.32%	16.54%
Effective Tax Rate	56.08%	31.97%	24.92%	16.56%	22.76%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.