AVIC Airborne Systems 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	23,762	23,555	28,688	27,341	9,702	8,632
Other Revenue	325.17	325.17	318.71	381.71	136.9	114.77
Revenue	24,087	23,880	29,007	27,722	9,839	8,747
Revenue Growth (YoY)	-3.04%	-17.68%	4.63%	181.75%	12.49%	4.72%
Cost of Revenue	17,170	17,310	20,575	19,924	7,064	6,237
Gross Profit	6,917	6,569	8,432	7,798	2,775	2,509
Selling, General & Admin	2,270	2,277	2,605	2,664	1,006	894.3
Research & Development	2,944	2,745	3,489	2,745	827.13	647.42
Other Operating Expenses	134.26	66.14	168.3	15.35	35.03	15.27
Operating Expenses	5,735	5,375	6,322	5,745	1,864	1,569
Operating Income	1,182	1,194	2,110	2,053	911.26	940.49
Interest Expense	-281.82	-270.62	-280.33	-268.66	-132.27	-271.02
Interest & Investment Income	226.23	315.27	350.56	271.49	28.5	32.43
Currency Exchange Gain (Loss)	6.93	6.93	6.01	31.35	-2.07	-9.26
Other Non Operating Income (Expenses)	-44.76	-19.83	-17.55	-9.69	2.05	-14.02
EBT Excluding Unusual Items	1,088	1,226	2,169	2,077	807.47	678.63
Impairment of Goodwill	-	-	-74.35	-213.15	-	-
Gain (Loss) on Sale of Investments	-0.04	-0.06	-0.71	-0.34	-2.22	-5.78
Gain (Loss) on Sale of Assets	-0.23	-0.32	-0.91	2.52	-0.65	-0.94
Asset Writedown	-92.21	-48.22	-23.84	-31.03	-1.7	0.01
Other Unusual Items	130.89	130.89	184.7	89.23	78.18	47.57
Pretax Income	1,127	1,308	2,257	1,927	881.09	719.48
Income Tax Expense	92.43	114.88	107.6	137.3	63.37	64.14
Earnings From Continuing Operations	1,034	1,194	2,149	1,790	817.72	655.34
Minority Interest in Earnings	-206.63	-152.86	-262.67	-438.63	-19.03	-24.56
Net Income	827.52	1,041	1,886	1,351	798.7	630.78
Net Income to Common	827.52	1,041	1,886	1,351	798.7	630.78
Net Income Growth	-42.50%	-44.83%	39.62%	69.16%	26.62%	13.44%
Shares Outstanding (Basic)	4,839	4,838	4,317	3,260	1,918	1,802
Shares Outstanding (Diluted)	4,839	4,838	4,317	3,260	1,918	1,802
Shares Change (YoY)	0.01%	12.08%	32.43%	69.98%	6.44%	2.40%
EPS (Basic)	0.17	0.22	0.44	0.41	0.42	0.35
EPS (Diluted)	0.17	0.22	0.44	0.41	0.42	0.35
EPS Growth	-42.51%	-50.78%	5.43%	-0.48%	18.97%	10.79%
Free Cash Flow	-1,787	-3,987	-2,453	-2,484	729.45	-71.15
Free Cash Flow Per Share	-0.37	-0.82	-0.57	-0.76	0.38	-0.04
Dividend Per Share	0.092	0.070	0.244	-	0.125	0.100
Dividend Growth	-26.98%	-71.31%	-	-	25.00%	66.67%
Gross Margin	28.72%	27.51%	29.07%	28.13%	28.20%	28.69%
Operating Margin	4.91%	5.00%	7.27%	7.40%	9.26%	10.75%
Profit Margin	3.44%	4.36%	6.50%	4.87%	8.12%	7.21%
Free Cash Flow Margin	-7.42%	-16.70%	-8.46%	-8.96%	7.41%	-0.81%
EBITDA	2,478	2,558	3,563	3,458	1,362	1,310
EBITDA Margin	10.29%	10.71%	12.29%	12.47%	13.84%	14.98%
D&A For EBITDA	1,296	1,364	1,453	1,406	450.55	369.85
EBIT	1,182	1,194	2,110	2,053	911.26	940.49
EBIT Margin	4.91%	5.00%	7.27%	7.40%	9.26%	10.75%
Effective Tax Rate	8.20%	8.78%	4.77%	7.12%	7.19%	8.91%
Revenue as Reported	24,087	23,880	29,007	27,722	9,839	8,747
Advertising Expenses	-	12.72	16.55	13.63	4.02	4.95

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