Beijing Tongrentang 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	16,546	17,158	18,488	17,751	15,290	14,500
Other Revenue	98.44	98.44	109.71	110.21	82.21	103.22
Revenue	16,645	17,256	18,597	17,861	15,372	14,603
Revenue Growth (YoY)	-10.54%	-7.21%	4.12%	16.19%	5.27%	13.86%
Cost of Revenue	9,814	9,968	10,508	9,557	7,982	7,885
Gross Profit	6,830	7,289	8,089	8,304	7,390	6,718
Selling, General & Admin	4,677	4,934	5,043	4,922	4,386	4,054
Research & Development	302.62	287.45	267.9	277.17	215.4	174.4
Other Operating Expenses	121.56	113.02	71.04	146.43	164.88	158.06
Operating Expenses	5,156	5,389	5,389	5,355	4,760	4,393
Operating Income	1,674	1,900	2,700	2,949	2,630	2,325
Interest Expense	-124.48	-124.48	-133.76	-102.21	-111.4	-127.35
Interest & Investment Income	212.92	211.86	232.5	225.81	126.79	122.3
Currency Exchange Gain (Loss)	0.36	0.36	-3.78	4.01	4.84	-1.74
Other Non Operating Income (Expenses)	-45.11	-19.59	-19.12	-18.27	-12.68	-17.77
EBT Excluding Unusual Items	1,718	1,968	2,776	3,059	2,637	2,301
Impairment of Goodwill	-	-	-	-	-	-0.9
Gain (Loss) on Sale of Investments	-4.52	-4.54	0.08	-1.03	-0.11	-
Gain (Loss) on Sale of Assets	27.33	25.11	6.97	-5.17	0.13	0.43
Asset Writedown	-3.58	-3.58	-4.16	-	-2.43	-13.72
Other Unusual Items	41.61	41.61	26.79	28.13	81.92	40.67
Pretax Income	1,779	2,027	2,805	3,081	2,717	2,327
Income Tax Expense	369.94	393.51	525.05	497.43	512.86	436.51
Earnings From Continuing Operations	1,409	1,633	2,280	2,583	2,204	1,891
Minority Interest in Earnings	-330.67	-443.81	-754.06	-914.39	-776.74	-663.39
Net Income	1,078	1,189	1,526	1,669	1,427	1,227
Net Income to Common	1,078	1,189	1,526	1,669	1,427	1,227
Net Income Growth	-29.64%	-22.07%	-8.54%	16.92%	16.29%	19.00%
Shares Outstanding (Basic)	1,372	1,372	1,371	1,371	1,371	1,371
Shares Outstanding (Diluted)	1,372	1,372	1,371	1,371	1,371	1,371
Shares Change (YoY)	0.06%	0.04%	0.00%	0.01%	-0.02%	-0.02%
EPS (Basic)	0.79	0.87	1.11	1.22	1.04	0.90
EPS (Diluted)	0.79	0.87	1.11	1.22	1.04	0.90
EPS Growth	-29.68%	-22.10%	-8.55%	16.91%	16.31%	19.02%
Free Cash Flow	2,469	2,336	241.43	1,545	2,764	2,955
Free Cash Flow Per Share	1.80	1.70	0.18	1.13	2.02	2.15
Dividend Per Share	1.000	1.000	1.000	0.500	0.320	0.290
Dividend Growth	-	-	100.00%	56.25%	10.35%	7.41%
Gross Margin	41.04%	42.24%	43.49%	46.49%	48.08%	46.01%
Operating Margin	10.06%	11.01%	14.52%	16.51%	17.11%	15.92%
Profit Margin	6.48%	6.89%	8.21%	9.34%	9.29%	8.40%
Free Cash Flow Margin	14.84%	13.54%	1.30%	8.65%	17.98%	20.24%
EBITDA	2,042	2,266	3,058	3,300	2,965	2,647
EBITDA Margin	12.27%	13.13%	16.44%	18.48%	19.29%	18.12%
D&A For EBITDA	367.87	365.91	358.06	350.48	335.56	321.17
EBIT	1,674	1,900	2,700	2,949	2,630	2,325
EBIT Margin	10.06%	11.01%	14.52%	16.51%	17.11%	15.92%
Effective Tax Rate	20.79%	19.42%	18.72%	16.15%	18.88%	18.76%
Revenue as Reported	17,256	17,256	18,597	17,861	15,372	14,603
Advertising Expenses	-	173.59	262.21	340.59	217.93	137.61

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