Yutong Bus Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	36,002	36,510	32,779	24,102	19,530	20,979
Other Revenue	4,916	4,916	4,439	2,940	2,269	2,254
Revenue	40,918	41,426	37,218	27,042	21,799	23,233
Revenue Growth (YoY)	10.53%	11.31%	37.63%	24.05%	-6.17%	7.04%
Cost of Revenue	30,910	31,599	28,977	20,956	16,945	19,021
Gross Profit	10,007	9,828	8,240	6,086	4,854	4,212
Selling, General & Admin	2,268	2,258	2,107	1,942	2,472	2,572
Research & Development	1,873	1,808	1,788	1,568	1,694	1,561
Other Operating Expenses	371.13	379.86	-54.92	293.71	198.28	246.15
Operating Expenses	4,531	4,321	4,060	4,121	4,824	4,361
Operating Income	5,476	5,506	4,180	1,964	30.46	-149.05
Interest Expense	-	-	-1.78	-1.87	-0.23	-3.01
Interest & Investment Income	115.03	143.9	146.76	245.56	215.25	195.32
Currency Exchange Gain (Loss)	-54.07	-54.07	23.59	-45.18	16.69	72
Other Non Operating Income (Expenses)	-62.89	-44.53	25	-13.66	-0.21	-18.25
EBT Excluding Unusual Items	5,474	5,552	4,374	2,149	261.96	97.01
Gain (Loss) on Sale of Investments	522.46	553.15	327.84	-455.9	-17.25	40.78
Gain (Loss) on Sale of Assets	183.25	182.91	18.89	46.72	53.99	8.03
Asset Writedown	-92.48	-22.68	1.58	1.29	0.46	0.94
Other Unusual Items	279.69	253.53	-	336.68	408.59	396.69
Pretax Income	6,367	6,519	4,722	2,078	707.76	543.46
Income Tax Expense	847.21	893.52	568.28	238.51	-60.05	-82.05
Earnings From Continuing Operations	5,520	5,625	4,154	1,840	767.8	625.51
Minority Interest in Earnings	-61.3	-70.69	-37.73	-22.42	-8.66	-11.73
Net Income	5,459	5,554	4,116	1,817	759.14	613.79
Net Income to Common	5,459	5,554	4,116	1,817	759.14	613.79
Net Income Growth	29.53%	34.94%	126.53%	139.36%	23.68%	18.95%
Shares Outstanding (Basic)	2,207	2,213	2,213	2,216	2,233	2,192
Shares Outstanding (Diluted)	2,207	2,213	2,213	2,216	2,233	2,192
Shares Change (YoY)	-0.61%	-0.00%	-0.13%	-0.75%	1.86%	-10.79%
EPS (Basic)	2.47	2.51	1.86	0.82	0.34	0.28
EPS (Diluted)	2.47	2.51	1.86	0.82	0.34	0.28
EPS Growth	30.32%	34.95%	126.83%	141.18%	21.43%	33.33%
Free Cash Flow	4,543	2,467	6,515	4,150	2,278	24.41
Free Cash Flow Per Share	2.06	1.11	2.94	1.87	1.02	0.01
Dividend Per Share	2.500	2.500	0.600	1.500	1.000	0.500
Dividend Growth	316.67%	316.67%	-60.00%	50.00%	100.00%	-
Gross Margin	24.46%	23.72%	22.14%	22.50%	22.27%	18.13%
Operating Margin	13.38%	13.29%	11.23%	7.26%	0.14%	-0.64%
Profit Margin	13.34%	13.41%	11.06%	6.72%	3.48%	2.64%
Free Cash Flow Margin	11.10%	5.96%	17.51%	15.35%	10.45%	0.10%
EBITDA	6,142	6,179	4,879	2,689	897.89	667.48
EBITDA Margin	15.01%	14.92%	13.11%	9.94%	4.12%	2.87%
D&A For EBITDA	666.18	672.76	699.08	724.4	867.43	816.53
EBIT	5,476	5,506	4,180	1,964	30.46	-149.05
EBIT Margin	13.38%	13.29%	11.23%	7.26%	0.14%	-0.64%
Effective Tax Rate	13.31%	13.71%	12.03%	11.48%	-	-
Revenue as Reported	40,918	41,426	37,218	27,042	21,799	23,233
Advertising Expenses	-	68.61	77.03	57.99	75.94	83.44

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