Zhongmin Energy 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	1,698	1,713	1,694	1,767	1,547	1,248
Other Revenue	28.1	28.1	38.12	24.4	12.67	4.33
Revenue	1,726	1,741	1,732	1,791	1,559	1,252
Revenue Growth (YoY)	0.23%	0.54%	-3.30%	14.84%	24.56%	74.42%
Operations & Maintenance	-	-	-	-	-	0.25
Selling, General & Admin	88.36	77.19	70.7	73.14	70.57	64.26
Provision for Bad Debts	-12.76	15.44	-25.26	13.69	28.64	15.98
Other Operating Expenses	690.66	712.46	722.52	654.84	516.56	396.9
Total Operating Expenses	767.11	807.38	768.08	741.66	615.77	477.39
Operating Income	958.81	933.83	963.73	1,049	943.73	774.62
Interest Expense	-81.42	-96.6	-114.94	-150.48	-180.63	-152.36
Interest Income	22.88	14.44	11.87	14.55	15.94	17.64
Net Interest Expense	-58.54	-82.16	-103.07	-135.94	-164.69	-134.72
Other Non-Operating Income (Expenses)	0.43	-0.09	-0.11	-0.05	-0.05	-0.06
EBT Excluding Unusual Items	900.7	851.58	860.55	913.28	778.98	639.83
Gain (Loss) on Sale of Investments	8.11	22.58	20.29	3.05	0.84	-2.93
Gain (Loss) on Sale of Assets	-1.3	-1.42	0.66	-0	-0.6	-6.43
Asset Writedown	-112.66	-49.21	-19.3	-	-0.23	-23.35
Other Unusual Items	-2.54	-2.25	-0.06	0.33	0.06	-1.45
Pretax Income	792.32	821.27	862.15	916.65	779.05	605.66
Income Tax Expense	185.83	129.27	139.57	131.92	42.13	70.62
Earnings From Continuing Ops.	606.48	692	722.58	784.73	736.92	535.05
Minority Interest in Earnings	-36.44	-40.86	-44.11	-55.89	-55.4	-49.16
Net Income	570.05	651.15	678.47	728.84	681.52	485.89
Net Income to Common	570.05	651.15	678.47	728.84	681.52	485.89
Net Income Growth	-18.90%	-4.03%	-6.91%	6.94%	40.26%	151.95%
Shares Outstanding (Basic)	1,955	1,903	1,903	1,903	1,753	1,689
Shares Outstanding (Diluted)	1,955	1,903	1,903	1,903	1,828	1,820
Shares Change (YoY)	4.51%	-0.02%	0.01%	4.12%	0.39%	7.80%
EPS (Basic)	0.29	0.34	0.36	0.38	0.39	0.29
EPS (Diluted)	0.29	0.34	0.36	0.38	0.37	0.27
EPS Growth	-22.40%	-4.01%	-6.92%	2.71%	39.72%	133.71%
Free Cash Flow	1,698	738.52	936.39	1,058	257.34	-95.3
Free Cash Flow Per Share	0.87	0.39	0.49	0.56	0.14	-0.05
Dividend Per Share	0.083	0.103	0.050	0.100	-	-
Dividend Growth	18.57%	106.00%	-50.00%	-	-	-
Profit Margin	33.03%	37.40%	39.18%	40.70%	43.70%	38.81%
Free Cash Flow Margin	98.38%	42.42%	54.07%	59.10%	16.50%	-7.61%
EBITDA	1,459	1,435	1,466	1,542	1,353	1,083
EBITDA Margin	84.56%	82.41%	84.62%	86.09%	86.78%	86.52%
D&A For EBITDA	500.69	501.16	501.8	492.51	409.66	308.58
EBIT	958.81	933.83	963.73	1,049	943.73	774.62
EBIT Margin	55.55%	53.63%	55.65%	58.59%	60.51%	61.87%
Effective Tax Rate	23.45%	15.74%	16.19%	14.39%	5.41%	11.66%
Revenue as Reported	1,726	1,741	1,732	1,791	1,559	1,252

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.