Red Avenue New Materials Group Co., Ltd. (SHA: 603650)

Red Avenue New Materials Group Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	3,151	2,934	2,492	2,318	2,042	2,207
Other Revenue	-0.21	9.15	8.31	2.09	3.46	1.43
Revenue	3,150	2,944	2,500	2,320	2,046	2,208
Revenue Growth (YoY)	16.98%	17.74%	7.74%	13.42%	-7.34%	1.52%
Cost of Revenue	2,381	2,247	1,900	1,763	1,422	1,442
Gross Profit	769.89	696.94	599.81	557.86	624.14	766.24
Selling, General & Admin	284.55	266.04	242.27	210.6	161.82	230.63
Research & Development	191.33	179.78	158.15	146.53	82.71	89.98
Other Operating Expenses	10.82	7.55	10.15	8.03	8.2	8.24
Operating Expenses	487.57	454.23	412.89	365.54	253.84	326.5
Operating Income	282.31	242.72	186.92	192.32	370.29	439.74
Interest Expense	-85.92	-84.08	-75.1	-75.84	-52.92	-28.85
Interest & Investment Income	317.49	245.69	174.41	203.28	183.07	55.88
Currency Exchange Gain (Loss)	-5.61	7.79	9.38	-3.54	-7	3.96
Other Non Operating Income (Expenses)	-7.52	-5.43	-4.28	-19.34	-6.86	-9.67
EBT Excluding Unusual Items	500.76	406.68	291.33	296.88	486.59	461.06
Gain (Loss) on Sale of Investments	6.29	12.06	14.77	-9.05	9.46	18.47
Gain (Loss) on Sale of Assets	-0.58	-7.36	-13.19	17.95	5.78	-1.16
Asset Writedown	-100.49	-5.7	-5.62	-0.04	-43.73	-122.34
Other Unusual Items	119.78	21.31	18.39	29.05	8.98	22.02
Pretax Income	525.75	426.98	305.69	334.79	467.08	378.07
Income Tax Expense	15.08	22.87	24.86	25.08	40.48	57.86
Earnings From Continuing Operations	510.67	404.12	280.83	309.7	426.6	320.2
Minority Interest in Earnings	-14.06	2.48	17.32	16.88	-16.1	10.4
Net Income	496.61	406.6	298.15	326.59	410.49	330.6
Net Income to Common	496.61	406.6	298.15	326.59	410.49	330.6
Net Income Growth	47.22%	36.37%	-8.71%	-20.44%	24.17%	-19.81%
Shares Outstanding (Basic)	605	598	596	594	586	590
Shares Outstanding (Diluted)	605	598	608	594	586	590
Shares Change (YoY)	0.01%	-1.73%	2.47%	1.26%	-0.67%	5.97%
EPS (Basic)	0.82	0.68	0.50	0.55	0.70	0.56
EPS (Diluted)	0.82	0.68	0.49	0.55	0.70	0.56
EPS Growth	47.20%	38.78%	-10.91%	-21.43%	25.00%	-24.32%
Free Cash Flow	84.74	13.89	-259.92	-353.61	93.98	347.1
Free Cash Flow Per Share	0.14	0.02	-0.43	-0.60	0.16	0.59
Dividend Per Share	0.840	0.590	0.080	0.090	0.340	0.330
Dividend Growth	950.00%	637.50%	-11.11%	-73.53%	3.03%	-2.94%
Gross Margin	24.44%	23.68%	23.99%	24.04%	30.51%	34.70%
Operating Margin	8.96%	8.25%	7.48%	8.29%	18.10%	19.92%
Profit Margin	15.76%	13.81%	11.93%	14.07%	20.06%	14.97%
Free Cash Flow Margin	2.69%	0.47%	-10.40%	-15.24%	4.59%	15.72%
EBITDA	427.65	377.52	304.31	279.14	430.15	503.47
EBITDA Margin	13.57%	12.83%	12.17%	12.03%	21.02%	22.80%
D&A For EBITDA	145.34	134.8	117.39	86.82	59.85	63.73
EBIT	282.31	242.72	186.92	192.32	370.29	439.74
EBIT Margin	8.96%	8.25%	7.48%	8.29%	18.10%	19.92%
Effective Tax Rate	2.87%	5.36%	8.13%	7.49%	8.67%	15.30%
Revenue as Reported	3,150	2,944	2,500	2,320	2,046	2,208

Source: S&P Capital IQ. Standard template. Financial Sources.