Zheshang Securities 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	Jun '26 Jun 30, 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
Interest and Dividend Income	7,137	5,949	4,076	3,570	3,372	4,036
Total Interest Expense	1,828	1,640	1,522	1,719	1,627	1,592
Net Interest Income	5,309	4,308	2,554	1,850	1,745	2,445
Gain on Sale of Investments (Rev)	-33.8	-9.84	246.84	-59.29	-266.46	85.5
Other Revenue	5,391	4,500	3,650	15,790	15,287	13,868
Revenue Before Loan Losses	10,666	8,798	6,451	17,581	16,766	16,398
Provision for Loan Losses	13.23	10.4	7.61	2.34	-1.52	13.16
Revenue	10,653	8,788	6,443	17,579	16,768	16,385
Revenue Growth	368.98%	36.39%	-63.35%	4.84%	2.34%	54.98%
Cost of Services Provided	6,391	5,275	3,996	3,553	2,989	3,795
Other Operating Expenses	83.16	71.36	75.62	11,846	11,716	9,797
Total Operating Expenses	6,484	5,352	4,071	15,400	14,705	13,592
Operating Income	4,169	3,435	2,372	2,179	2,062	2,793
Currency Exchange Gains	2.95	-2.83	-1.03	2.44	3.12	-0.88
Other Non-Operating Income (Expenses)	-0.11	-2.34	9.9	-0.79	4.18	12.55
EBT Excluding Unusual Items	4,172	3,430	2,381	2,181	2,070	2,805
Gain (Loss) on Sale of Investments	-25.7	-8.7	11.84	-7.1	8.13	71.73
Other Unusual Items	32.48	38.76	33.85	27.57	21.19	41.35
Pretax Income	4,173	3,460	2,425	2,202	2,098	2,916
Income Tax Expense	756.41	617.44	418.05	377.81	396.05	720.7
Earnings From Continuing Ops.	3,417	2,843	2,007	1,824	1,702	2,196
Minority Interest in Earnings	-542.47	-430.31	-75.06	-70.23	-47.34	-
Net Income	2,874	2,412	1,932	1,754	1,654	2,196
Net Income to Common	2,874	2,412	1,932	1,754	1,654	2,196
Net Income Growth	25.16%	24.87%	10.17%	6.01%	-24.66%	34.94%
Shares Outstanding (Basic)	4,491	4,552	3,943	3,812	3,847	3,786
Shares Outstanding (Diluted)	4,491	4,552	4,200	4,175	4,035	3,786
Shares Change	1.30%	8.38%	0.59%	3.48%	6.58%	9.35%
EPS (Basic)	0.64	0.53	0.49	0.46	0.43	0.58
EPS (Diluted)	0.64	0.53	0.46	0.42	0.41	0.58
EPS Growth	23.56%	15.22%	9.52%	2.44%	-29.31%	23.40%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	12,906	-3,785	6,001	5,666	274.17	1,471
Free Cash Flow Per Share	2.87	-0.83	1.43	1.36	0.07	0.39
Dividend Per Share	0.170	0.170	0.150	0.140	0.300	0.130
Dividend Growth	13.33%	13.33%	7.14%	-53.33%	130.77%	-
Operating Margin	39.13%	39.09%	36.82%	12.40%	12.30%	17.05%
Profit Margin	26.98%	27.45%	29.98%	9.98%	9.87%	13.40%
Free Cash Flow Margin	121.15%	-43.08%	93.14%	32.23%	1.64%	8.98%
Effective Tax Rate	18.13%	17.84%	17.24%	17.16%	18.88%	24.71%
Revenue as Reported	10,725	8,841	6,503	17,638	16,814	16,418