Henan Pinggao Electric 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	12,382	12,442	12,308	10,963	9,174	9,107
Other Revenue	75.02	75.02	93.58	114.43	100.1	166.67
Revenue	12,457	12,517	12,402	11,077	9,274	9,273
Revenue Growth (YoY)	-3.20%	0.93%	11.96%	19.44%	0.01%	-5.19%
Cost of Revenue	9,532	9,592	9,702	8,795	7,688	8,083
Gross Profit	2,924	2,925	2,700	2,282	1,586	1,190
Selling, General & Admin	831.52	858.53	860.1	728.48	756.33	532.34
Research & Development	593.54	619.76	550.46	523.95	391.83	310.15
Other Operating Expenses	50.7	64.42	43.18	48.31	83.13	78.44
Operating Expenses	1,490	1,557	1,493	1,354	1,299	953.7
Operating Income	1,434	1,368	1,207	927.81	287.5	236.4
Interest Expense	-1.83	-1.83	-1.98	-2.2	-32.37	-48.05
Interest & Investment Income	117.42	104.27	102.62	79.46	63.86	56.7
Earnings From Equity Investments	-9.53	-	-	-	-	-
Currency Exchange Gain (Loss)	-11.45	-11.45	0.56	37.8	48.4	-20.26
Other Non Operating Income (Expenses)	-31.4	-16.74	-7.15	-8	-7.92	-6.34
EBT Excluding Unusual Items	1,498	1,442	1,301	1,035	359.48	218.46
Impairment of Goodwill	-	-	-	-	-	-88.19
Gain (Loss) on Sale of Investments	3.99	-0.13	-	0	0.01	0
Gain (Loss) on Sale of Assets	-1.85	-1.85	-1.83	-5.43	-5.18	-1.4
Asset Writedown	-23.53	-23.55	-35.16	-43.53	-43.28	-36.73
Other Unusual Items	13.79	13.79	9.21	16.44	18.93	40.9
Pretax Income	1,490	1,431	1,273	1,002	329.96	133.04
Income Tax Expense	210.74	201.19	154.29	81.57	29.49	12.66
Earnings From Continuing Operations	1,279	1,229	1,119	920.79	300.47	120.38
Minority Interest in Earnings	-102.91	-109.55	-95.73	-105.07	-88.31	-49.61
Net Income	1,176	1,120	1,023	815.71	212.17	70.77
Net Income to Common	1,176	1,120	1,023	815.71	212.17	70.77
Net Income Growth	2.13%	9.45%	25.43%	284.47%	199.78%	-43.87%
Shares Outstanding (Basic)	1,357	1,357	1,357	1,357	1,357	1,356
Shares Outstanding (Diluted)	1,357	1,357	1,357	1,357	1,357	1,356
Shares Change (YoY)	-0.01%	-0.01%	0.01%	0.02%	0.05%	-0.11%
EPS (Basic)	0.87	0.83	0.75	0.60	0.16	0.05
EPS (Diluted)	0.87	0.83	0.75	0.60	0.16	0.05
EPS Growth	2.15%	9.46%	25.42%	284.40%	199.62%	-43.81%
Free Cash Flow	-26.99	511.51	2,821	2,391	1,328	1,098
Free Cash Flow Per Share	-0.02	0.38	2.08	1.76	0.98	0.81
Dividend Per Share	0.331	0.331	0.289	0.212	0.055	0.016
Dividend Growth	14.53%	14.53%	36.32%	285.46%	243.75%	-42.86%
Gross Margin	23.48%	23.37%	21.77%	20.60%	17.11%	12.83%
Operating Margin	11.52%	10.93%	9.73%	8.38%	3.10%	2.55%
Profit Margin	9.44%	8.95%	8.25%	7.36%	2.29%	0.76%
Free Cash Flow Margin	-0.22%	4.09%	22.74%	21.59%	14.31%	11.85%
EBITDA	1,808	1,740	1,574	1,311	745.68	718.99
EBITDA Margin	14.51%	13.90%	12.69%	11.84%	8.04%	7.75%
D&A For EBITDA	373.61	372.34	367.24	383.69	458.18	482.59
EBIT	1,434	1,368	1,207	927.81	287.5	236.4
EBIT Margin	11.52%	10.93%	9.73%	8.38%	3.10%	2.55%
Effective Tax Rate	14.14%	14.06%	12.12%	8.14%	8.94%	9.51%
Revenue as Reported	12,517	12,517	12,402	11,077	9,274	9,273
Advertising Expenses	-	3.83	2.65	2.16	2.48	1.87

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