Yutong Bus Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	35,070	32,779	24,102	19,530	20,979	20,009
Other Revenue	4,439	4,439	2,940	2,269	2,254	1,696
Revenue	39,509	37,218	27,042	21,799	23,233	21,705
Revenue Growth (YoY)	22.83%	37.63%	24.05%	-6.17%	7.04%	-28.82%
Cost of Revenue	30,520	28,989	20,956	16,945	19,021	18,016
Gross Profit	8,989	8,228	6,086	4,854	4,212	3,689
Selling, General & Admin	2,045	2,094	1,942	2,472	2,572	2,373
Research & Development	1,853	1,788	1,568	1,694	1,561	1,552
Other Operating Expenses	289.89	231.17	293.71	198.28	246.15	168.76
Operating Expenses	4,213	4,334	4,121	4,824	4,361	3,967
Operating Income	4,776	3,894	1,964	30.46	-149.05	-277.88
Interest Expense	-1.48	-1.78	-1.87	-0.23	-3.01	-0.15
Interest & Investment Income	161.14	146.76	245.56	215.25	195.32	199.83
Currency Exchange Gain (Loss)	23.59	23.59	-45.18	16.69	72	-123.38
Other Non Operating Income (Expenses)	-16.41	-24.06	-13.66	-0.21	-18.25	-60.77
EBT Excluding Unusual Items	4,943	4,039	2,149	261.96	97.01	-262.36
Gain (Loss) on Sale of Investments	481.09	327.84	-455.9	-17.25	40.78	93.65
Gain (Loss) on Sale of Assets	176.07	18.89	46.72	53.99	8.03	107.91
Asset Writedown	-31.81	1.58	1.29	0.46	0.94	-1.54
Other Unusual Items	335.15	335.15	336.68	408.59	396.69	410.05
Pretax Income	5,903	4,722	2,078	707.76	543.46	347.71
Income Tax Expense	843.96	568.28	238.51	-60.05	-82.05	-170.36
Earnings From Continuing Operations	5,059	4,154	1,840	767.8	625.51	518.08
Minority Interest in Earnings	-82.64	-37.73	-22.42	-8.66	-11.73	-2.09
Net Income	4,977	4,116	1,817	759.14	613.79	515.99
Net Income to Common	4,977	4,116	1,817	759.14	613.79	515.99
Net Income Growth	55.60%	126.53%	139.36%	23.68%	18.95%	-73.43%
Shares Outstanding (Basic)	2,212	2,213	2,216	2,233	2,192	2,457
Shares Outstanding (Diluted)	2,212	2,213	2,216	2,233	2,192	2,457
Shares Change (YoY)	0.66%	-0.13%	-0.75%	1.86%	-10.79%	7.53%
EPS (Basic)	2.25	1.86	0.82	0.34	0.28	0.21
EPS (Diluted)	2.25	1.86	0.82	0.34	0.28	0.21
EPS Growth	54.58%	126.83%	141.18%	21.43%	33.33%	-75.29%
Free Cash Flow	3,578	6,515	4,150	2,278	24.41	2,611
Free Cash Flow Per Share	1.62	2.94	1.87	1.02	0.01	1.06
Dividend Per Share	0.600	0.600	1.500	1.000	0.500	0.500
Dividend Growth	-70.00%	-60.00%	50.00%	100.00%	-	-50.00%
Gross Margin	22.75%	22.11%	22.50%	22.27%	18.13%	17.00%
Operating Margin	12.09%	10.46%	7.26%	0.14%	-0.64%	-1.28%
Profit Margin	12.60%	11.06%	6.72%	3.48%	2.64%	2.38%
Free Cash Flow Margin	9.06%	17.51%	15.35%	10.45%	0.10%	12.03%
EBITDA	5,431	4,579	2,689	897.89	667.48	376.29
EBITDA Margin	13.75%	12.30%	9.94%	4.12%	2.87%	1.73%
D&A For EBITDA	655.44	684.99	724.4	867.43	816.53	654.16
EBIT	4,776	3,894	1,964	30.46	-149.05	-277.88
EBIT Margin	12.09%	10.46%	7.26%	0.14%	-0.64%	-1.28%
Effective Tax Rate	14.30%	12.03%	11.48%	-	-	-
Revenue as Reported	39,509	37,218	27,042	21,799	23,233	21,705
Advertising Expenses	-	77.03	57.99	75.94	83.44	85.74

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