Zhejiang Dafeng Industry 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	Mar '26 Mar 31, 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
Operating Revenue	2,449	2,373	1,827	1,932	2,838	2,953
Other Revenue	10.32	10.32	16.27	5.92	4.47	5.89
Revenue	2,460	2,384	1,843	1,938	2,842	2,959
Revenue Growth (YoY)	33.40%	29.33%	-4.88%	-31.83%	-3.93%	17.91%
Cost of Revenue	1,835	1,796	1,231	1,455	1,996	2,061
Gross Profit	624.5	587.64	612.51	482.59	846.72	897.33
Selling, General & Admin	455.6	452.26	377.03	326.32	276.75	253.01
Research & Development	118.57	107.61	104.21	111.8	128.81	124.53
Other Operating Expenses	24.81	23.46	16.09	15.72	14.88	18.89
Operating Expenses	652.22	596.93	587.72	488.36	526.49	443.03
Operating Income	-27.72	-9.28	24.79	-5.77	320.24	454.3
Interest Expense	-75.46	-80.68	-120.73	-117.44	-106.68	-34.94
Interest & Investment Income	179	173.97	216.24	225.4	100.26	22.8
Currency Exchange Gain (Loss)	31.47	31.47	-27.85	-0.3	-0.42	-0.58
Other Non Operating Income (Expenses)	-29.66	0.96	-3.66	-12.19	-2.79	3.87
EBT Excluding Unusual Items	77.63	116.44	88.79	89.71	310.6	445.45
Gain (Loss) on Sale of Investments	0.25	-0.69	-12.99	3.47	4.23	1.39
Gain (Loss) on Sale of Assets	0.65	0.05	-0.06	-0.18	0.21	-0.06
Asset Writedown	-1.02	-0.01	-0	0.03	-	-
Other Unusual Items	7.42	7.42	14.53	13.39	11.16	10.32
Pretax Income	84.92	123.21	90.25	106.42	326.21	457.1
Income Tax Expense	32.2	40.27	28.12	10.13	48.49	73.85
Earnings From Continuing Operations	52.72	82.95	62.13	96.29	277.71	383.24
Minority Interest in Earnings	6.12	4.85	2.48	4.71	9.28	7.63
Net Income	58.84	87.79	64.61	101	286.99	390.87
Net Income to Common	58.84	87.79	64.61	101	286.99	390.87
Net Income Growth	-7.28%	35.89%	-36.03%	-64.81%	-26.58%	24.61%
Shares Outstanding (Basic)	411	418	404	404	416	407
Shares Outstanding (Diluted)	411	418	404	404	416	439
Shares Change (YoY)	2.59%	3.53%	-0.05%	-2.87%	-5.29%	0.81%
EPS (Basic)	0.14	0.21	0.16	0.25	0.69	0.96
EPS (Diluted)	0.14	0.21	0.16	0.25	0.69	0.89
EPS Growth	-9.62%	31.25%	-36.00%	-63.77%	-22.47%	23.61%
Free Cash Flow	348.05	455.18	-4.1	-71.9	-779.25	-595.47
Free Cash Flow Per Share	0.85	1.09	-0.01	-0.18	-1.87	-1.36
Dividend Per Share	0.060	0.060	0.130	0.050	0.150	0.200
Dividend Growth	-53.85%	-53.85%	160.00%	-66.67%	-25.00%	33.33%
Gross Margin	25.39%	24.65%	33.23%	24.91%	29.79%	30.33%
Operating Margin	-1.13%	-0.39%	1.34%	-0.30%	11.27%	15.35%
Profit Margin	2.39%	3.68%	3.50%	5.21%	10.10%	13.21%
Free Cash Flow Margin	14.15%	19.10%	-0.22%	-3.71%	-27.41%	-20.13%
EBITDA	33.03	52.82	92.31	56.16	366.25	492.63
EBITDA Margin	1.34%	2.22%	5.01%	2.90%	12.88%	16.65%
D&A For EBITDA	60.74	62.1	67.52	61.93	46.01	38.33
EBIT	-27.72	-9.28	24.79	-5.77	320.24	454.3
EBIT Margin	-1.13%	-0.39%	1.34%	-0.30%	11.27%	15.35%
Effective Tax Rate	37.91%	32.68%	31.16%	9.52%	14.87%	16.16%
Revenue as Reported	2,460	2,384	1,843	1,938	2,842	2,959
Advertising Expenses	-	7.46	7.53	5.33	3.61	7.54

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