Newborn Town 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	6,889	5,092	3,308	2,800	2,360
Revenue Growth (YoY)	35.30%	53.92%	18.15%	18.64%	99.72%
Cost of Revenue	3,042	2,484	1,586	1,742	1,356
Gross Profit	3,847	2,608	1,722	1,058	1,003
Selling, General & Admin	2,530	1,534	860.43	595.88	1,235
Research & Development	366.73	335.42	314.52	212.07	130.86
Other Operating Expenses	65.47	10.78	1.31	-0.51	-3.25
Operating Expenses	2,963	1,880	1,176	808.75	1,378
Operating Income	884.77	727.31	545.82	249.16	-374.47
Interest Expense	-18.76	-5.41	-5.95	-1.51	-5.83
Interest & Investment Income	87.45	63.2	21.46	0.98	2.21
Earnings From Equity Investments	1.73	-1.73	47.31	18.65	-0.21
Currency Exchange Gain (Loss)	-	0.58	4.85	20.01	-25.24
Other Non Operating Income (Expenses)	-	-0.15	-	-0.29	-0.17
EBT Excluding Unusual Items	955.19	783.81	613.49	287.01	-403.69
Gain (Loss) on Sale of Investments	-	1.03	159.27	0.37	9.81
Pretax Income	955.19	784.84	772.76	287.38	-393.88
Income Tax Expense	-8.52	-2.93	12.15	0.04	-6.76
Earnings From Continuing Operations	963.71	787.77	760.61	287.34	-387.13
Minority Interest in Earnings	-29.17	-307.46	-247.77	-157.2	100.84
Net Income	934.53	480.31	512.85	130.14	-286.28
Net Income to Common	934.53	480.31	512.85	130.14	-286.28
Net Income Growth	94.57%	-6.34%	294.09%	-	-
Shares Outstanding (Basic)	1,268	1,137	1,148	1,143	999
Shares Outstanding (Diluted)	1,328	1,140	1,149	1,155	999
Shares Change (YoY)	16.51%	-0.79%	-0.56%	15.62%	0.03%
EPS (Basic)	0.74	0.42	0.45	0.11	-0.29
EPS (Diluted)	0.70	0.42	0.45	0.11	-0.29
EPS Growth	68.45%	-6.63%	295.66%	-	-
Free Cash Flow	1,437	1,054	744.12	301.74	389.85
Free Cash Flow Per Share	1.08	0.93	0.65	0.26	0.39
Gross Margin	55.85%	51.22%	52.06%	37.79%	42.52%
Operating Margin	12.84%	14.29%	16.50%	8.90%	-15.87%
Profit Margin	13.57%	9.43%	15.50%	4.65%	-12.13%
Free Cash Flow Margin	20.86%	20.71%	22.50%	10.78%	16.52%
EBITDA	989.21	779.23	592.5	291.38	-333.18
EBITDA Margin	14.36%	15.30%	17.91%	10.41%	-14.12%
D&A For EBITDA	104.44	51.92	46.68	42.22	41.29
EBIT	884.77	727.31	545.82	249.16	-374.47
EBIT Margin	12.84%	14.29%	16.50%	8.90%	-15.87%
Effective Tax Rate	-	-	1.57%	0.01%	-
Advertising Expenses	2,127	1,199	616.69	-	498.58

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