Ningbo Construction 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	19,912	20,730	22,410	21,646	21,178	19,722
Other Revenue	329.78	329.78	262.96	220.6	141.73	74.81
Revenue	20,241	21,060	22,673	21,867	21,320	19,797
Revenue Growth (YoY)	-7.60%	-7.11%	3.69%	2.56%	7.70%	6.69%
Cost of Revenue	18,360	19,047	20,673	20,140	19,597	18,269
Gross Profit	1,881	2,013	2,000	1,727	1,723	1,527
Selling, General & Admin	743.8	694.46	650.24	579.88	607.84	524.07
Research & Development	430.48	492.31	537.03	497.22	478.85	329.52
Other Operating Expenses	70.72	61.03	69.17	67.82	56.6	54.21
Operating Expenses	1,448	1,447	1,478	1,172	1,169	1,023
Operating Income	433.42	565.65	522.38	555.03	554.2	504.19
Interest Expense	-246.86	-244.95	-199.43	-196.41	-163.44	-163.54
Interest & Investment Income	96.46	81.94	52.48	40.3	43.51	32.07
Currency Exchange Gain (Loss)	-	-	-	-1.64	0.46	4.54
Other Non Operating Income (Expenses)	-28.85	-48.17	-25.98	-52.42	2.11	-14.52
EBT Excluding Unusual Items	254.17	354.47	349.46	344.87	436.84	362.74
Gain (Loss) on Sale of Investments	-	-	-	-6.58	-	-47.4
Gain (Loss) on Sale of Assets	1.86	0.91	4.76	1.73	69.95	2.45
Asset Writedown	34.03	-3.25	-3.93	-2.08	-	-1.12
Other Unusual Items	37.74	37.74	29.37	79.54	5.36	25.76
Pretax Income	327.79	389.87	379.65	417.47	512.15	342.43
Income Tax Expense	47.82	67.97	33.8	51.16	69.62	45.1
Earnings From Continuing Operations	279.97	321.9	345.85	366.31	442.53	297.32
Minority Interest in Earnings	-8.8	-13.56	-16.46	-17.71	-26.78	-17.73
Net Income	271.17	308.34	329.39	348.6	415.75	279.59
Net Income to Common	271.17	308.34	329.39	348.6	415.75	279.59
Net Income Growth	-13.10%	-6.39%	-5.51%	-16.15%	48.70%	16.36%
Shares Outstanding (Basic)	1,164	1,153	1,166	1,150	1,030	1,041
Shares Outstanding (Diluted)	1,164	1,153	1,166	1,150	1,058	1,096
Shares Change (YoY)	1.06%	-1.07%	1.34%	8.69%	-3.42%	12.26%
EPS (Basic)	0.23	0.27	0.28	0.30	0.40	0.27
EPS (Diluted)	0.23	0.27	0.28	0.30	0.39	0.26
EPS Growth	-14.01%	-5.38%	-6.76%	-22.86%	53.96%	3.66%
Free Cash Flow	-54.61	-80.07	1,034	851.99	-1,072	748.11
Free Cash Flow Per Share	-0.05	-0.07	0.89	0.74	-1.01	0.68
Dividend Per Share	0.100	0.100	0.100	0.100	0.120	0.100
Dividend Growth	-	-	-	-16.67%	20.00%	-
Gross Margin	9.29%	9.56%	8.82%	7.90%	8.08%	7.71%
Operating Margin	2.14%	2.69%	2.30%	2.54%	2.60%	2.55%
Profit Margin	1.34%	1.46%	1.45%	1.59%	1.95%	1.41%
Free Cash Flow Margin	-0.27%	-0.38%	4.56%	3.90%	-5.03%	3.78%
EBITDA	543.31	675.68	632.6	657.78	663.86	598.53
EBITDA Margin	2.68%	3.21%	2.79%	3.01%	3.11%	3.02%
D&A For EBITDA	109.89	110.03	110.21	102.75	109.66	94.34
EBIT	433.42	565.65	522.38	555.03	554.2	504.19
EBIT Margin	2.14%	2.69%	2.30%	2.54%	2.60%	2.55%
Effective Tax Rate	14.59%	17.43%	8.90%	12.26%	13.59%	13.17%
Revenue as Reported	20,241	21,060	22,673	21,867	21,320	19,797
Advertising Expenses	-	0.33	0.84	0.73	0.12	0.26

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