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 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	10,100	9,950	10,112	11,328	10,404	8,641
Other Revenue	164.06	164.06	243.27	248.26	165.43	148.62
Revenue	10,264	10,115	10,355	11,576	10,570	8,790
Revenue Growth (YoY)	5.41%	-2.32%	-10.55%	9.53%	20.25%	31.23%
Cost of Revenue	7,576	7,425	8,078	8,077	7,564	6,494
Gross Profit	2,688	2,689	2,277	3,499	3,005	2,296
Selling, General & Admin	1,021	1,033	1,004	921.57	806.89	695.32
Research & Development	614.01	633.95	676.98	762.16	434.15	346.45
Other Operating Expenses	120.87	116.81	28.37	43.43	29.44	29.19
Operating Expenses	1,862	1,894	1,390	1,814	1,504	1,248
Operating Income	826.35	795.57	887.11	1,685	1,501	1,048
Interest Expense	-96.4	-97.46	-102.98	-101.45	-91.18	-118.8
Interest & Investment Income	86.43	90.1	61.89	79.15	85.3	202.37
Currency Exchange Gain (Loss)	-12.69	-12.69	9.5	12.63	30.76	-11.27
Other Non Operating Income (Expenses)	-19.85	-0.91	2.43	-2.65	-2.8	4.55
EBT Excluding Unusual Items	783.83	774.61	857.96	1,673	1,523	1,125
Gain (Loss) on Sale of Investments	5.69	-	-25.13	-	-10.96	-0.36
Gain (Loss) on Sale of Assets	0.5	0.37	1.1	1.87	-1.32	-0.83
Asset Writedown	25.52	-2.04	-3.8	-17.71	-0.01	-15.43
Other Unusual Items	73.04	73.04	34.99	29.53	23.9	35.64
Pretax Income	888.57	845.98	865.14	1,687	1,534	1,144
Income Tax Expense	107.03	98.63	101.45	217.11	206.35	176.94
Earnings From Continuing Operations	781.54	747.36	763.68	1,470	1,328	966.68
Minority Interest in Earnings	-212.55	-138.53	-123.95	-131.34	-127.91	-76.04
Net Income	568.99	608.82	639.73	1,338	1,200	890.64
Net Income to Common	568.99	608.82	639.73	1,338	1,200	890.64
Net Income Growth	10.82%	-4.83%	-52.19%	11.50%	34.76%	159.05%
Shares Outstanding (Basic)	1,576	1,561	1,488	1,471	1,464	1,392
Shares Outstanding (Diluted)	1,576	1,561	1,488	1,471	1,464	1,392
Shares Change (YoY)	5.05%	4.93%	1.17%	0.47%	5.18%	6.98%
EPS (Basic)	0.36	0.39	0.43	0.91	0.82	0.64
EPS (Diluted)	0.36	0.39	0.43	0.91	0.82	0.64
EPS Growth	5.49%	-9.30%	-52.75%	10.98%	28.13%	142.15%
Free Cash Flow	-1,264	-2,001	-1,094	-511.46	-103.41	897.91
Free Cash Flow Per Share	-0.80	-1.28	-0.73	-0.35	-0.07	0.65
Dividend Per Share	0.008	0.008	0.122	0.269	0.165	0.121
Dividend Growth	-93.08%	-93.08%	-54.73%	63.05%	35.91%	242.94%
Gross Margin	26.19%	26.59%	21.99%	30.23%	28.43%	26.12%
Operating Margin	8.05%	7.87%	8.57%	14.56%	14.20%	11.92%
Profit Margin	5.54%	6.02%	6.18%	11.56%	11.36%	10.13%
Free Cash Flow Margin	-12.32%	-19.79%	-10.57%	-4.42%	-0.98%	10.21%
EBITDA	1,405	1,368	1,434	2,069	1,783	1,346
EBITDA Margin	13.69%	13.52%	13.85%	17.87%	16.87%	15.31%
D&A For EBITDA	578.3	572.02	546.94	383.86	282.54	297.9
EBIT	826.35	795.57	887.11	1,685	1,501	1,048
EBIT Margin	8.05%	7.87%	8.57%	14.56%	14.20%	11.92%
Effective Tax Rate	12.05%	11.66%	11.73%	12.87%	13.45%	15.47%
Revenue as Reported	10,264	10,115	10,355	11,576	10,570	8,790
Advertising Expenses	-	1.49	0.93	0.21	1.36	1.07

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