Shanghai Milkground Food Tech Co., Ltd (SHA:600882)

SHA:600882 Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	5,052	4,689	4,717	4,818	4,469	2,845
Other Revenue	154.62	154.62	605.52	11.94	9.43	1.66
Revenue	5,206	4,844	5,322	4,830	4,478	2,847
Revenue Growth (YoY)	5.19%	-8.99%	10.20%	7.84%	57.31%	63.20%
Cost of Revenue	3,698	3,477	4,057	3,181	2,777	1,832
Gross Profit	1,509	1,366	1,265	1,648	1,701	1,014
Selling, General & Admin	1,232	1,189	1,203	1,463	1,492	844.17
Research & Development	46.66	48.47	54.01	51.23	40.09	38.86
Other Operating Expenses	21.16	10.6	7.06	5.84	0.6	-4.76
Operating Expenses	1,305	1,254	1,256	1,521	1,532	876.08
Operating Income	204.3	112.27	8.98	127.6	168.94	138.38
Interest Expense	-59.03	-53.99	-42.39	-39.21	-25.05	-42.68
Interest & Investment Income	77.63	68.98	73.67	115.05	63.61	27.87
Currency Exchange Gain (Loss)	-10.38	-10.38	-1.65	5.58	0.01	1.75
Other Non Operating Income (Expenses)	4.69	-1.48	28.38	-3.47	-1.65	-2.25
EBT Excluding Unusual Items	217.2	115.4	66.99	205.55	205.86	123.07
Impairment of Goodwill	-	-	-6.82	-	-10.72	-27.48
Gain (Loss) on Sale of Investments	11.93	17.08	-26.69	5.08	15.43	1.48
Gain (Loss) on Sale of Assets	-3.75	-6.23	0.19	-0.42	-1.16	-6.83
Asset Writedown	0.38	-	-	-	-	-
Other Unusual Items	64.62	34.75	48.45	25.54	23.13	5.05
Pretax Income	290.39	160.99	82.12	235.76	232.54	95.28
Income Tax Expense	85.87	47.37	2.71	62.53	38.77	21.3
Earnings From Continuing Operations	204.52	113.62	79.41	173.22	193.77	73.98
Minority Interest in Earnings	-	-	-19.35	-35.62	-39.34	-14.73
Net Income	204.52	113.62	60.07	137.61	154.43	59.26
Net Income to Common	204.52	113.62	60.07	137.61	154.43	59.26
Net Income Growth	54.41%	89.16%	-56.35%	-10.89%	160.60%	208.16%
Shares Outstanding (Basic)	502	503	505	508	465	409
Shares Outstanding (Diluted)	502	503	505	508	468	409
Shares Change (YoY)	0.01%	-0.40%	-0.60%	8.51%	14.51%	-0.11%
EPS (Basic)	0.41	0.23	0.12	0.27	0.33	0.14
EPS (Diluted)	0.41	0.23	0.12	0.27	0.33	0.14
EPS Growth	54.41%	89.92%	-56.09%	-17.88%	127.59%	208.51%
Free Cash Flow	135.82	148.27	-57.48	-711.97	-179.41	-89.01
Free Cash Flow Per Share	0.27	0.29	-0.11	-1.40	-0.38	-0.22
Gross Margin	28.98%	28.21%	23.77%	34.13%	37.98%	35.63%
Operating Margin	3.92%	2.32%	0.17%	2.64%	3.77%	4.86%
Profit Margin	3.93%	2.35%	1.13%	2.85%	3.45%	2.08%
Free Cash Flow Margin	2.61%	3.06%	-1.08%	-14.74%	-4.01%	-3.13%
EBITDA	415.39	301.6	169.29	244.37	245.36	198.07
EBITDA Margin	7.98%	6.23%	3.18%	5.06%	5.48%	6.96%
D&A For EBITDA	211.1	189.33	160.31	116.77	76.43	59.7
EBIT	204.3	112.27	8.98	127.6	168.94	138.38
EBIT Margin	3.92%	2.32%	0.17%	2.64%	3.77%	4.86%
Effective Tax Rate	29.57%	29.43%	3.29%	26.52%	16.67%	22.35%
Revenue as Reported	5,206	4,844	5,322	4,830	4,478	2,847
Advertising Expenses	-	500.43	566.59	821.84	905.85	560.84

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