Beijing Tongrentang 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	17,976	18,488	17,751	15,290	14,500	12,725
Other Revenue	109.71	109.71	110.21	82.21	103.22	100.46
Revenue	18,085	18,597	17,861	15,372	14,603	12,826
Revenue Growth (YoY)	0.70%	4.12%	16.19%	5.27%	13.86%	-3.40%
Cost of Revenue	10,199	10,508	9,557	7,982	7,885	6,921
Gross Profit	7,887	8,089	8,304	7,390	6,718	5,905
Selling, General & Admin	5,210	5,043	4,922	4,386	4,054	3,688
Research & Development	271.74	267.9	277.17	215.4	174.4	131.8
Other Operating Expenses	104.5	71.04	146.43	164.88	158.06	138.88
Operating Expenses	5,614	5,389	5,355	4,760	4,393	3,997
Operating Income	2,273	2,700	2,949	2,630	2,325	1,908
Interest Expense	-132.51	-133.76	-102.21	-111.4	-127.35	-53.24
Interest & Investment Income	204.53	232.5	225.81	126.79	122.3	105.39
Currency Exchange Gain (Loss)	-3.78	-3.78	4.01	4.84	-1.74	-2.19
Other Non Operating Income (Expenses)	-18.17	-19.12	-18.27	-12.68	-17.77	-13.19
EBT Excluding Unusual Items	2,323	2,776	3,059	2,637	2,301	1,945
Impairment of Goodwill	-	-	-	-	-0.9	-1.23
Gain (Loss) on Sale of Investments	-0.01	0.08	-1.03	-0.11	-	-
Gain (Loss) on Sale of Assets	8.04	5.02	-5.17	0.13	0.43	12.59
Asset Writedown	-11.81	-2.21	-	-2.43	-13.72	-9.25
Other Unusual Items	26.79	26.79	28.13	81.92	40.67	36.27
Pretax Income	2,346	2,805	3,081	2,717	2,327	1,983
Income Tax Expense	456.24	525.05	497.43	512.86	436.51	366.55
Earnings From Continuing Operations	1,890	2,280	2,583	2,204	1,891	1,616
Minority Interest in Earnings	-535.86	-754.06	-914.39	-776.74	-663.39	-584.92
Net Income	1,354	1,526	1,669	1,427	1,227	1,031
Net Income to Common	1,354	1,526	1,669	1,427	1,227	1,031
Net Income Growth	-16.86%	-8.54%	16.92%	16.29%	19.00%	4.67%
Shares Outstanding (Basic)	1,370	1,371	1,371	1,371	1,371	1,372
Shares Outstanding (Diluted)	1,370	1,371	1,371	1,371	1,371	1,372
Shares Change (YoY)	-0.09%	0.00%	0.01%	-0.02%	-0.02%	0.07%
EPS (Basic)	0.99	1.11	1.22	1.04	0.90	0.75
EPS (Diluted)	0.99	1.11	1.22	1.04	0.90	0.75
EPS Growth	-16.78%	-8.55%	16.91%	16.31%	19.02%	4.59%
Free Cash Flow	2,350	241.43	1,545	2,764	2,955	1,024
Free Cash Flow Per Share	1.72	0.18	1.13	2.02	2.15	0.75
Dividend Per Share	0.500	1.000	0.500	0.320	0.290	0.270
Dividend Growth	-50.00%	100.00%	56.25%	10.35%	7.41%	-64.47%
Gross Margin	43.61%	43.49%	46.49%	48.08%	46.01%	46.04%
Operating Margin	12.57%	14.52%	16.51%	17.11%	15.92%	14.87%
Profit Margin	7.49%	8.21%	9.34%	9.29%	8.40%	8.04%
Free Cash Flow Margin	12.99%	1.30%	8.65%	17.98%	20.24%	7.98%
EBITDA	2,618	3,047	3,300	2,965	2,647	2,251
EBITDA Margin	14.48%	16.39%	18.48%	19.29%	18.12%	17.55%
D&A For EBITDA	345.4	347.58	350.48	335.56	321.17	342.9
EBIT	2,273	2,700	2,949	2,630	2,325	1,908
EBIT Margin	12.57%	14.52%	16.51%	17.11%	15.92%	14.87%
Effective Tax Rate	19.45%	18.72%	16.15%	18.88%	18.76%	18.49%
Revenue as Reported	18,085	18,597	17,861	15,372	14,603	12,826
Advertising Expenses	-	262.21	340.59	217.93	137.61	79.93

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