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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	3,164	2,934	2,492	2,318	2,042	2,207
Other Revenue	9.15	9.15	8.31	2.09	3.46	1.43
Revenue	3,173	2,944	2,500	2,320	2,046	2,208
Revenue Growth (YoY)	11.38%	17.74%	7.74%	13.42%	-7.34%	1.52%
Cost of Revenue	2,385	2,247	1,900	1,763	1,422	1,442
Gross Profit	787.91	696.94	599.81	557.86	624.14	766.24
Selling, General & Admin	295.1	266.04	242.27	210.6	161.82	230.63
Research & Development	196.39	179.78	158.15	146.53	82.71	89.98
Other Operating Expenses	9.76	7.55	10.15	8.03	8.2	8.24
Operating Expenses	500.68	454.23	412.89	365.54	253.84	326.5
Operating Income	287.23	242.72	186.92	192.32	370.29	439.74
Interest Expense	-92.08	-84.08	-75.1	-75.84	-52.92	-28.85
Interest & Investment Income	333.11	245.69	174.41	203.28	183.07	55.88
Currency Exchange Gain (Loss)	7.79	7.79	9.38	-3.54	-7	3.96
Other Non Operating Income (Expenses)	-29.18	-5.43	-4.28	-19.34	-6.86	-9.67
EBT Excluding Unusual Items	506.87	406.68	291.33	296.88	486.59	461.06
Gain (Loss) on Sale of Investments	-5.29	12.06	14.77	-9.05	9.46	18.47
Gain (Loss) on Sale of Assets	-0.56	-7.36	-13.19	17.95	5.78	-1.16
Asset Writedown	-91.23	-5.7	-5.62	-0.04	-43.73	-122.34
Other Unusual Items	115.8	21.31	18.39	29.05	8.98	22.02
Pretax Income	525.59	426.98	305.69	334.79	467.08	378.07
Income Tax Expense	15.49	22.87	24.86	25.08	40.48	57.86
Earnings From Continuing Operations	510.1	404.12	280.83	309.7	426.6	320.2
Minority Interest in Earnings	-14.92	2.48	17.32	16.88	-16.1	10.4
Net Income	495.18	406.6	298.15	326.59	410.49	330.6
Net Income to Common	495.18	406.6	298.15	326.59	410.49	330.6
Net Income Growth	21.45%	36.37%	-8.71%	-20.44%	24.17%	-19.81%
Shares Outstanding (Basic)	604	598	596	594	586	590
Shares Outstanding (Diluted)	604	598	608	594	586	590
Shares Change (YoY)	0.18%	-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	21.24%	38.78%	-10.91%	-21.43%	25.00%	-24.32%
Free Cash Flow	174.04	13.89	-259.92	-353.61	93.98	347.1
Free Cash Flow Per Share	0.29	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	24.83%	23.68%	23.99%	24.04%	30.51%	34.70%
Operating Margin	9.05%	8.25%	7.48%	8.29%	18.10%	19.92%
Profit Margin	15.61%	13.81%	11.93%	14.07%	20.06%	14.97%
Free Cash Flow Margin	5.49%	0.47%	-10.40%	-15.24%	4.59%	15.72%
EBITDA	435.09	377.52	304.31	279.14	430.15	503.47
EBITDA Margin	13.71%	12.83%	12.17%	12.03%	21.02%	22.80%
D&A For EBITDA	147.86	134.8	117.39	86.82	59.85	63.73
EBIT	287.23	242.72	186.92	192.32	370.29	439.74
EBIT Margin	9.05%	8.25%	7.48%	8.29%	18.10%	19.92%
Effective Tax Rate	2.95%	5.36%	8.13%	7.49%	8.67%	15.30%
Revenue as Reported	3,173	2,944	2,500	2,320	2,046	2,208

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