Ginwa Enterprise (Group) 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	549.39	584.42	564.47	578.82	533.78	667.94
Other Revenue	1.05	1.05	0.93	0.55	0.26	0.24
Revenue	550.44	585.46	565.4	579.37	534.04	668.18
Revenue Growth (YoY)	-5.35%	3.55%	-2.41%	8.49%	-20.08%	-11.45%
Cost of Revenue	124.86	127.07	133.75	137.97	134.22	196.1
Gross Profit	425.58	458.39	431.65	441.4	399.82	472.08
Selling, General & Admin	378.18	407.33	414.91	409.74	364.78	436.18
Research & Development	31.01	28.96	15.09	15.49	15.64	20.04
Other Operating Expenses	9.24	1.67	8.34	11.27	12.8	12.69
Operating Expenses	401.6	437.02	433.35	436.9	391.31	469.49
Operating Income	23.98	21.37	-1.69	4.5	8.51	2.59
Interest Expense	-6.56	-4.34	-4.44	-1.19	-2.18	-3.49
Interest & Investment Income	42.04	40.63	5.71	23.41	32.46	36.7
Other Non Operating Income (Expenses)	-11.44	-12.84	3.3	-8.83	-0.28	2.73
EBT Excluding Unusual Items	48.02	44.81	2.87	17.89	38.51	38.53
Impairment of Goodwill	-	-	-	-0.16	-	-
Gain (Loss) on Sale of Investments	-1.33	-0.8	-36.7	-2.19	4.78	1.95
Gain (Loss) on Sale of Assets	-0.07	-0	-0.19	-	-	0.03
Asset Writedown	0.26	-	-	-0.67	-0.25	-
Legal Settlements	-6.51	-6.51	-26	-	-67.28	-
Other Unusual Items	4.54	4.54	18.97	33.03	0.51	5.75
Pretax Income	44.92	42.04	-41.05	47.9	-23.73	46.26
Income Tax Expense	-32.15	-31.56	1.84	14.44	-5.57	9.31
Earnings From Continuing Operations	77.07	73.6	-42.89	33.46	-18.16	36.95
Minority Interest in Earnings	1.25	1.01	-	-	-	0.79
Net Income	78.32	74.61	-42.89	33.46	-18.16	37.74
Net Income to Common	78.32	74.61	-42.89	33.46	-18.16	37.74
Net Income Growth	-	-	-	-	-	45.69%
Shares Outstanding (Basic)	347	357	373	373	373	356
Shares Outstanding (Diluted)	347	357	373	373	373	356
Shares Change (YoY)	-5.85%	-4.27%	-0.04%	0.14%	4.64%	0.02%
EPS (Basic)	0.23	0.21	-0.11	0.09	-0.05	0.11
EPS (Diluted)	0.23	0.21	-0.11	0.09	-0.05	0.11
EPS Growth	-	-	-	-	-	45.67%
Free Cash Flow	-201.45	-210	-8.57	-246.25	18.56	36.21
Free Cash Flow Per Share	-0.58	-0.59	-0.02	-0.66	0.05	0.10
Dividend Per Share	0.030	0.030	-	-	-	0.090
Dividend Growth	-	-	-	-	-	200.00%
Gross Margin	77.32%	78.30%	76.34%	76.19%	74.87%	70.65%
Operating Margin	4.36%	3.65%	-0.30%	0.78%	1.59%	0.39%
Profit Margin	14.23%	12.74%	-7.59%	5.78%	-3.40%	5.65%
Free Cash Flow Margin	-36.60%	-35.87%	-1.52%	-42.50%	3.48%	5.42%
EBITDA	21.72	34.06	30.93	31.16	36.14	30.15
EBITDA Margin	3.94%	5.82%	5.47%	5.38%	6.77%	4.51%
D&A For EBITDA	-2.27	12.69	32.63	26.66	27.62	27.55
EBIT	23.98	21.37	-1.69	4.5	8.51	2.59
EBIT Margin	4.36%	3.65%	-0.30%	0.78%	1.59%	0.39%
Effective Tax Rate	-	-	-	30.15%	-	20.13%
Revenue as Reported	550.44	585.46	565.4	579.37	534.04	668.18
Advertising Expenses	-	13.38	8.68	10.32	10.77	-

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