AVIC Heavy Machinery 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	9,564	10,112	11,328	10,404	8,641	6,571
Other Revenue	243.27	243.27	248.26	165.43	148.62	127.52
Revenue	9,807	10,355	11,576	10,570	8,790	6,698
Revenue Growth (YoY)	-17.82%	-10.55%	9.53%	20.25%	31.23%	11.92%
Cost of Revenue	7,917	8,078	8,077	7,564	6,494	5,062
Gross Profit	1,890	2,277	3,499	3,005	2,296	1,637
Selling, General & Admin	1,054	1,004	921.57	806.89	695.32	623.73
Research & Development	716.44	676.98	762.16	434.15	346.45	294.92
Other Operating Expenses	95.65	27.53	43.43	29.44	29.19	34.76
Operating Expenses	1,504	1,387	1,814	1,504	1,248	1,073
Operating Income	386.45	889.62	1,685	1,501	1,048	563.3
Interest Expense	-101.93	-102.98	-101.45	-91.18	-118.8	-133.65
Interest & Investment Income	104.89	61.89	79.15	85.3	202.37	80.91
Currency Exchange Gain (Loss)	9.5	9.5	12.63	30.76	-11.27	-17.16
Other Non Operating Income (Expenses)	-0.93	-2.04	-2.65	-2.8	4.55	-2.76
EBT Excluding Unusual Items	397.99	856	1,673	1,523	1,125	490.65
Gain (Loss) on Sale of Investments	-25.13	-25.13	-	-10.96	-0.36	-
Gain (Loss) on Sale of Assets	0.2	1.1	1.87	-1.32	-0.83	-2.68
Asset Writedown	-22.47	-3.8	-17.71	-0.01	-15.43	-0.3
Other Unusual Items	36.96	36.96	29.53	23.9	35.64	25.91
Pretax Income	387.54	865.14	1,687	1,534	1,144	513.59
Income Tax Expense	46.2	101.45	217.11	206.35	176.94	87.37
Earnings From Continuing Operations	341.34	763.68	1,470	1,328	966.68	426.21
Minority Interest in Earnings	-107.34	-123.95	-131.34	-127.91	-76.04	-82.41
Net Income	234	639.73	1,338	1,200	890.64	343.81
Net Income to Common	234	639.73	1,338	1,200	890.64	343.81
Net Income Growth	-82.44%	-52.19%	11.50%	34.76%	159.05%	24.91%
Shares Outstanding (Basic)	1,562	1,488	1,471	1,464	1,392	1,301
Shares Outstanding (Diluted)	1,562	1,488	1,471	1,464	1,392	1,301
Shares Change (YoY)	5.51%	1.17%	0.47%	5.18%	6.98%	18.15%
EPS (Basic)	0.15	0.43	0.91	0.82	0.64	0.26
EPS (Diluted)	0.15	0.43	0.91	0.82	0.64	0.26
EPS Growth	-83.35%	-52.75%	10.98%	28.13%	142.15%	5.72%
Free Cash Flow	-1,085	-1,094	-492.52	-103.41	897.91	204.8
Free Cash Flow Per Share	-0.69	-0.73	-0.34	-0.07	0.65	0.16
Dividend Per Share	0.122	0.122	0.269	0.165	0.121	0.035
Dividend Growth	-54.73%	-54.73%	63.05%	35.91%	242.94%	10.28%
Gross Margin	19.27%	21.99%	30.23%	28.43%	26.12%	24.43%
Operating Margin	3.94%	8.59%	14.56%	14.20%	11.92%	8.41%
Profit Margin	2.39%	6.18%	11.56%	11.36%	10.13%	5.13%
Free Cash Flow Margin	-11.06%	-10.57%	-4.25%	-0.98%	10.21%	3.06%
EBITDA	1,018	1,415	2,069	1,783	1,346	852.27
EBITDA Margin	10.38%	13.66%	17.87%	16.87%	15.31%	12.72%
D&A For EBITDA	631.44	525.34	383.86	282.54	297.9	288.98
EBIT	386.45	889.62	1,685	1,501	1,048	563.3
EBIT Margin	3.94%	8.59%	14.56%	14.20%	11.92%	8.41%
Effective Tax Rate	11.92%	11.73%	12.87%	13.45%	15.47%	17.01%
Revenue as Reported	9,807	10,355	11,576	10,570	8,790	6,698
Advertising Expenses	-	0.93	0.21	1.36	1.07	0.45

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