Xiamen Tungsten 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	52,815	45,491	34,743	37,962	47,224	31,297
Other Revenue	773.68	773.68	629.97	1,436	998.36	555.44
Revenue	53,589	46,265	35,373	39,398	48,223	31,852
Revenue Growth (YoY)	50.86%	30.79%	-10.22%	-18.30%	51.40%	67.96%
Cost of Revenue	43,738	38,334	29,308	33,259	42,057	26,930
Gross Profit	9,851	7,930	6,065	6,139	6,165	4,922
Selling, General & Admin	1,698	1,644	1,509	1,329	1,207	1,087
Research & Development	1,881	1,740	1,492	1,609	1,729	1,276
Other Operating Expenses	394.04	261.16	95.25	187.63	249.12	277.77
Operating Expenses	4,165	3,785	3,042	3,055	3,300	2,759
Operating Income	5,686	4,146	3,023	3,083	2,866	2,163
Interest Expense	-271.67	-278.32	-344.84	-457.7	-552.17	-480.53
Interest & Investment Income	71.15	74.3	306	143.06	26.24	105.13
Currency Exchange Gain (Loss)	-3.88	-3.88	24.76	37.13	102.04	1.88
Other Non Operating Income (Expenses)	-105.7	-54.67	-38.98	-135.76	-54.95	-35.3
EBT Excluding Unusual Items	5,376	3,883	2,970	2,670	2,387	1,754
Impairment of Goodwill	-	-	-	-	-	-5.93
Gain (Loss) on Sale of Investments	17.76	25.44	7.29	4.03	-29.63	-
Gain (Loss) on Sale of Assets	-29.48	-26.87	-16.44	-16.19	-20.51	-17.26
Asset Writedown	-90.89	-5.84	-0.12	-5.61	-87.9	-3.33
Other Unusual Items	186.95	185.66	216.45	264.81	322.92	208.41
Pretax Income	5,460	4,061	3,177	2,917	2,572	1,936
Income Tax Expense	995.93	710.6	520.29	399.61	388.89	242.73
Earnings From Continuing Operations	4,464	3,351	2,657	2,517	2,183	1,693
Minority Interest in Earnings	-1,431	-1,041	-944.6	-915.74	-736.51	-514.42
Net Income	3,033	2,309	1,712	1,602	1,446	1,179
Net Income to Common	3,033	2,309	1,712	1,602	1,446	1,179
Net Income Growth	81.88%	34.89%	6.89%	10.75%	22.68%	91.96%
Shares Outstanding (Basic)	1,588	1,588	1,429	1,411	1,406	1,406
Shares Outstanding (Diluted)	1,588	1,588	1,429	1,411	1,406	1,406
Shares Change (YoY)	7.85%	11.12%	1.25%	0.35%	0.00%	0.01%
EPS (Basic)	1.91	1.45	1.20	1.14	1.03	0.84
EPS (Diluted)	1.91	1.45	1.20	1.14	1.03	0.84
EPS Growth	68.64%	21.39%	5.57%	10.37%	22.67%	91.94%
Free Cash Flow	-1,324	981.88	930.79	2,182	-2,093	-330.04
Free Cash Flow Per Share	-0.83	0.62	0.65	1.55	-1.49	-0.23
Dividend Per Share	0.584	0.584	0.420	0.400	0.350	0.260
Dividend Growth	39.05%	39.05%	5.00%	14.29%	34.62%	73.33%
Gross Margin	18.38%	17.14%	17.15%	15.58%	12.78%	15.45%
Operating Margin	10.61%	8.96%	8.55%	7.83%	5.94%	6.79%
Profit Margin	5.66%	4.99%	4.84%	4.06%	3.00%	3.70%
Free Cash Flow Margin	-2.47%	2.12%	2.63%	5.54%	-4.34%	-1.04%
EBITDA	7,047	5,474	4,222	4,206	3,884	3,081
EBITDA Margin	13.15%	11.83%	11.94%	10.68%	8.05%	9.67%
D&A For EBITDA	1,361	1,329	1,199	1,123	1,018	918.04
EBIT	5,686	4,146	3,023	3,083	2,866	2,163
EBIT Margin	10.61%	8.96%	8.55%	7.83%	5.94%	6.79%
Effective Tax Rate	18.24%	17.50%	16.38%	13.70%	15.12%	12.54%
Revenue as Reported	53,589	46,265	35,373	39,398	48,223	31,852
Advertising Expenses	-	9.82	10.08	10.43	14.01	10.17

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