China Automotive Engineering Research Institute Co., Ltd. (SHA:601965)

SHA:601965 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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	4,550	4,660	4,072	3,267	3,806	3,378
Other Revenue	16.54	36.61	24.56	23.15	28.97	40.24
Revenue	4,567	4,697	4,096	3,291	3,835	3,418
Revenue Growth (YoY)	2.04%	14.66%	24.48%	-14.20%	12.21%	24.08%
Cost of Revenue	2,448	2,623	2,351	1,843	2,563	2,376
Gross Profit	2,119	2,073	1,746	1,447	1,272	1,042
Selling, General & Admin	574.49	581.2	547.16	410.13	377.31	298.31
Research & Development	294.57	277.82	257.58	215.95	186.23	165.45
Other Operating Expenses	33.23	7.64	-0.09	2.28	10.87	-1.69
Operating Expenses	1,021	954.32	857.53	694.9	591.26	475.57
Operating Income	1,097	1,119	888.13	752.34	681.2	566.15
Interest Expense	-12.37	-12.27	-2.43	-1.4	-0.77	-0.19
Interest & Investment Income	13.92	18.4	70.98	21.89	19.07	32.94
Currency Exchange Gain (Loss)	-2.62	-1.33	-1.29	-0.16	0.36	-0.3
Other Non Operating Income (Expenses)	-9.27	-7.87	0.61	-2.77	-5.25	-0.03
EBT Excluding Unusual Items	1,087	1,116	955.99	769.89	694.61	598.58
Gain (Loss) on Sale of Investments	-29.54	-30.05	6.26	-1.19	-1.15	-4.2
Gain (Loss) on Sale of Assets	13.99	12.63	-0.49	-0.99	93.31	-0.73
Legal Settlements	-	-	-	-	-1.51	-1.57
Other Unusual Items	63.87	42.1	38.56	55.95	57.69	79.41
Pretax Income	1,135	1,140	1,000	823.67	842.96	671.48
Income Tax Expense	175.33	172.69	114.05	95.2	113.56	86.96
Earnings From Continuing Operations	959.91	967.68	886.27	728.46	729.39	584.52
Minority Interest in Earnings	-45.03	-59.91	-50.1	-39.32	-37.73	-26.1
Net Income	914.88	907.78	836.17	689.14	691.67	558.42
Net Income to Common	914.88	907.78	836.17	689.14	691.67	558.42
Net Income Growth	2.29%	8.56%	21.34%	-0.36%	23.86%	19.60%
Shares Outstanding (Basic)	995	987	984	971	974	980
Shares Outstanding (Diluted)	995	987	984	984	988	980
Shares Change (YoY)	1.26%	0.30%	-0.08%	-0.36%	0.86%	0.71%
EPS (Basic)	0.92	0.92	0.85	0.71	0.71	0.57
EPS (Diluted)	0.92	0.92	0.85	0.70	0.70	0.57
EPS Growth	1.02%	8.24%	21.43%	-	22.81%	18.75%
Free Cash Flow	-274.2	-229.11	392.38	311.94	342.89	-179.33
Free Cash Flow Per Share	-0.28	-0.23	0.40	0.32	0.35	-0.18
Dividend Per Share	0.240	0.340	0.330	0.300	0.300	0.300
Dividend Growth	-44.19%	3.03%	10.00%	-	-	20.00%
Gross Margin	46.39%	44.14%	42.62%	43.98%	33.18%	30.48%
Operating Margin	24.03%	23.82%	21.68%	22.86%	17.76%	16.56%
Profit Margin	20.03%	19.33%	20.41%	20.94%	18.04%	16.34%
Free Cash Flow Margin	-6.00%	-4.88%	9.58%	9.48%	8.94%	-5.25%
EBITDA	1,420	1,453	1,228	1,050	957.38	814.64
EBITDA Margin	31.10%	30.94%	29.98%	31.90%	24.96%	23.83%
D&A For EBITDA	322.82	334.26	340.1	297.5	276.17	248.49
EBIT	1,097	1,119	888.13	752.34	681.2	566.15
EBIT Margin	24.03%	23.82%	21.68%	22.86%	17.76%	16.56%
Effective Tax Rate	15.44%	15.14%	11.40%	11.56%	13.47%	12.95%
Revenue as Reported	4,567	4,697	4,096	3,291	3,835	3,418
Advertising Expenses	-	13.01	8.76	3.97	7.96	5.97

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