Chengdu B-ray Media 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	662.67	539.53	572.52	459.07	662.6	481.88
Other Revenue	42.05	39.06	41.89	47.89	57.61	52.98
Revenue	704.73	578.6	614.41	506.96	720.22	534.86
Revenue Growth (YoY)	44.56%	-5.83%	21.20%	-29.61%	34.66%	25.61%
Cost of Revenue	479.55	324.49	332.77	255.73	450.24	296.5
Gross Profit	225.18	254.11	281.64	251.23	269.98	238.35
Selling, General & Admin	130.7	132.5	134.43	138.35	143.67	135.9
Research & Development	35.41	47.33	50.53	42.49	38.49	33.15
Other Operating Expenses	7.21	9.28	8.77	7.03	7.78	9.31
Operating Expenses	219.28	238.78	228.81	198.76	189.58	186.72
Operating Income	5.9	15.33	52.82	52.47	80.4	51.64
Interest Expense	-8.54	-6.62	-5.05	-4.62	-3.32	-3.19
Interest & Investment Income	15.45	9.9	12.76	8.49	32.4	34.31
Earnings From Equity Investments	3.59	3.59	6.03	13.95	-	-
Currency Exchange Gain (Loss)	0.37	0.37	0.35	1.4	-0.37	-1.06
Other Non Operating Income (Expenses)	-5.06	-4.05	-5.23	-5.94	-1.89	1.14
EBT Excluding Unusual Items	11.71	18.52	61.68	65.75	107.23	82.84
Gain (Loss) on Sale of Investments	15.54	15.54	-	-	11.32	29.4
Gain (Loss) on Sale of Assets	0.06	0.11	0.92	0.06	-0.07	0.55
Asset Writedown	-0.44	-0.44	-2.28	-1.56	-	-
Other Unusual Items	3.31	3.54	2.99	4.2	5.3	4.5
Pretax Income	30.17	37.26	63.32	68.45	123.78	117.29
Income Tax Expense	11.49	7.93	12.56	15.81	32.61	29.26
Earnings From Continuing Operations	18.68	29.33	50.76	52.64	91.17	88.02
Net Income to Company	18.68	29.33	50.76	52.64	91.17	88.02
Minority Interest in Earnings	-4.27	-10.51	-14.7	-12.41	-12.57	-3.32
Net Income	14.41	18.82	36.07	40.24	78.6	84.7
Net Income to Common	14.41	18.82	36.07	40.24	78.6	84.7
Net Income Growth	70.26%	-47.83%	-10.36%	-48.81%	-7.20%	28.25%
Shares Outstanding (Basic)	1,093	941	1,202	1,006	1,123	1,059
Shares Outstanding (Diluted)	1,093	941	1,202	1,006	1,123	1,059
Shares Change (YoY)	-20.43%	-21.75%	19.52%	-10.42%	6.06%	-3.81%
EPS (Basic)	0.01	0.02	0.03	0.04	0.07	0.08
EPS (Diluted)	0.01	0.02	0.03	0.04	0.07	0.08
EPS Growth	113.96%	-33.33%	-25.00%	-42.86%	-12.50%	33.33%
Free Cash Flow	-93.12	-45.59	-130.39	71.17	48.64	70.76
Free Cash Flow Per Share	-0.09	-0.05	-0.11	0.07	0.04	0.07
Dividend Per Share	0.010	0.010	0.010	0.012	0.025	0.030
Dividend Growth	-	-	-16.67%	-52.00%	-16.67%	50.00%
Gross Margin	31.95%	43.92%	45.84%	49.56%	37.49%	44.56%
Operating Margin	0.84%	2.65%	8.60%	10.35%	11.16%	9.65%
Profit Margin	2.04%	3.25%	5.87%	7.94%	10.91%	15.84%
Free Cash Flow Margin	-13.21%	-7.88%	-21.22%	14.04%	6.75%	13.23%
EBITDA	34.94	45.25	83.91	82.03	111.56	75.58
EBITDA Margin	4.96%	7.82%	13.66%	16.18%	15.49%	14.13%
D&A For EBITDA	29.04	29.92	31.09	29.55	31.17	23.94
EBIT	5.9	15.33	52.82	52.47	80.4	51.64
EBIT Margin	0.84%	2.65%	8.60%	10.35%	11.16%	9.65%
Effective Tax Rate	38.09%	21.29%	19.83%	23.10%	26.34%	24.95%
Revenue as Reported	704.73	578.6	614.41	506.96	720.22	534.86
Advertising Expenses	-	1.71	1.72	1.77	3.64	15.32

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