Anhui Expressway Company 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
Operating Revenue	6,627	7,620	6,569	5,137	3,876
Other Revenue	94.17	78.26	62.25	68.89	44.71
Revenue	6,722	7,698	6,631	5,206	3,921
Revenue Growth (YoY)	-12.68%	16.09%	27.37%	32.78%	33.65%
Cost of Revenue	3,730	4,922	4,008	2,954	1,568
Gross Profit	2,991	2,776	2,623	2,252	2,352
Selling, General & Admin	206.02	195.11	182.54	164.25	136.79
Other Operating Expenses	45.86	35.45	25.89	30.17	27.93
Operating Expenses	252.16	230.39	208.82	195.47	175.53
Operating Income	2,739	2,546	2,414	2,057	2,177
Interest Expense	-298.24	-174.64	-213.97	-226.52	-254.81
Interest & Investment Income	148.76	183.41	167.94	118.41	152.18
Currency Exchange Gain (Loss)	-4.34	-3.86	-0.92	2.05	-0.26
Other Non Operating Income (Expenses)	-0.22	3.71	-0.12	-0.11	2.36
EBT Excluding Unusual Items	2,585	2,554	2,367	1,951	2,076
Gain (Loss) on Sale of Investments	10.68	-31.84	-108.76	0.61	42.72
Gain (Loss) on Sale of Assets	-4.23	7.41	-6.67	8.43	-8.71
Asset Writedown	-	-0.06	-	-	-
Other Unusual Items	16.92	13.03	15.23	17.15	8.67
Pretax Income	2,608	2,543	2,267	1,977	2,119
Income Tax Expense	749.08	613.51	588.39	562.93	573.81
Earnings From Continuing Operations	1,859	1,929	1,678	1,414	1,545
Minority Interest in Earnings	18.08	-21.91	-18.44	31.01	-31.15
Net Income	1,877	1,907	1,660	1,445	1,514
Net Income to Common	1,877	1,907	1,660	1,445	1,514
Net Income Growth	-1.57%	14.91%	14.87%	-4.57%	74.19%
Shares Outstanding (Basic)	1,684	1,659	1,659	1,659	1,659
Shares Outstanding (Diluted)	1,684	1,659	1,659	1,659	1,659
Shares Change (YoY)	1.51%	-	-	-	-
EPS (Basic)	1.12	1.15	1.00	0.87	0.91
EPS (Diluted)	1.12	1.15	1.00	0.87	0.91
EPS Growth	-3.03%	14.91%	14.88%	-4.57%	74.19%
Free Cash Flow	1,338	671.07	536.98	621.72	1,675
Free Cash Flow Per Share	0.79	0.41	0.32	0.38	1.01
Dividend Per Share	0.660	0.604	0.601	0.550	0.550
Dividend Growth	9.27%	0.50%	9.27%	-	139.13%
Gross Margin	44.50%	36.06%	39.55%	43.26%	60.00%
Operating Margin	40.75%	33.07%	36.40%	39.51%	55.52%
Profit Margin	27.93%	24.78%	25.03%	27.76%	38.62%
Free Cash Flow Margin	19.90%	8.72%	8.10%	11.94%	42.71%
EBITDA	4,097	3,608	3,336	2,999	3,103
EBITDA Margin	60.95%	46.87%	50.30%	57.61%	79.14%
D&A For EBITDA	1,357	1,062	921.56	942.42	926.26
EBIT	2,739	2,546	2,414	2,057	2,177
EBIT Margin	40.75%	33.07%	36.40%	39.51%	55.52%
Effective Tax Rate	28.72%	24.13%	25.96%	28.48%	27.08%
Revenue as Reported	6,722	7,698	6,631	5,206	3,921

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