Activation Group Holdings Limited (HKG:9919)

Activation Group Holdings Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	843.05	847.75	967.23	694.81	904.06	458
Revenue Growth (YoY)	-9.67%	-12.35%	39.21%	-23.15%	97.39%	-30.79%
Cost of Revenue	587.1	593.48	669.01	492.57	636.77	326.35
Gross Profit	255.95	254.27	298.22	202.24	267.28	131.65
Selling, General & Admin	134.83	146.14	145.13	152.12	128.5	102.65
Other Operating Expenses	5.14	5.45	2.14	10.15	2.39	0.16
Operating Expenses	139.97	151.59	147.28	162.27	130.89	102.82
Operating Income	115.97	102.68	150.95	39.97	136.4	28.84
Interest Expense	-0.44	-0.42	-0.41	-0.53	-0.61	-2.52
Interest & Investment Income	2.63	1.95	1.33	1.7	1.68	2.21
Earnings From Equity Investments	3.5	4.41	4.2	0.32	-3.82	-0.53
Currency Exchange Gain (Loss)	-0.04	-	-	-	-	-
Other Non Operating Income (Expenses)	11.03	11.68	12.53	14.57	10.07	10.88
EBT Excluding Unusual Items	132.65	120.3	168.59	56.03	143.71	38.88
Gain (Loss) on Sale of Investments	-0.17	-0.17	-3.81	-0.33	0.22	-0.48
Gain (Loss) on Sale of Assets	-	-	-	-	0.7	-
Other Unusual Items	-	-	-	-	-	0.15
Pretax Income	132.48	120.13	164.79	55.7	144.63	38.55
Income Tax Expense	40.12	32.75	46.37	27.45	42.07	13.32
Earnings From Continuing Operations	92.36	87.38	118.42	28.24	102.55	25.23
Minority Interest in Earnings	-7.95	-8.14	-10.43	-4.61	-10.07	-1.81
Net Income	84.41	79.24	107.99	23.63	92.49	23.42
Net Income to Common	84.41	79.24	107.99	23.63	92.49	23.42
Net Income Growth	-12.77%	-26.62%	356.97%	-74.45%	294.86%	-21.84%
Shares Outstanding (Basic)	737	728	730	735	740	769
Shares Outstanding (Diluted)	744	744	740	735	740	769
Shares Change (YoY)	0.63%	0.58%	0.59%	-0.57%	-3.81%	28.14%
EPS (Basic)	0.11	0.11	0.15	0.03	0.13	0.03
EPS (Diluted)	0.11	0.11	0.15	0.03	0.13	0.03
EPS Growth	-13.31%	-27.05%	354.84%	-74.33%	310.48%	-39.01%
Free Cash Flow	71.81	167.75	114.46	57.82	171.11	-29.96
Free Cash Flow Per Share	0.10	0.23	0.15	0.08	0.23	-0.04
Dividend Per Share	0.056	0.054	0.074	0.012	0.025	-
Dividend Growth	-24.58%	-27.68%	534.37%	-52.70%	-	-
Gross Margin	30.36%	29.99%	30.83%	29.11%	29.57%	28.74%
Operating Margin	13.76%	12.11%	15.61%	5.75%	15.09%	6.30%
Profit Margin	10.01%	9.35%	11.16%	3.40%	10.23%	5.11%
Free Cash Flow Margin	8.52%	19.79%	11.83%	8.32%	18.93%	-6.54%
EBITDA	118.08	104.9	153.14	42.03	137.21	29.67
EBITDA Margin	14.01%	12.37%	15.83%	6.05%	15.18%	6.48%
D&A For EBITDA	2.1	2.22	2.19	2.06	0.81	0.83
EBIT	115.97	102.68	150.95	39.97	136.4	28.84
EBIT Margin	13.76%	12.11%	15.61%	5.75%	15.09%	6.30%
Effective Tax Rate	30.28%	27.26%	28.14%	49.29%	29.09%	34.55%

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