China Master Logistics 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	8,935	8,831	11,820	7,374	11,829	12,377
Other Revenue	20.55	20.55	20.64	25.29	29.26	36.35
Revenue	8,955	8,852	11,840	7,399	11,858	12,414
Revenue Growth (YoY)	-22.35%	-25.24%	60.03%	-37.61%	-4.47%	140.86%
Cost of Revenue	8,311	8,217	11,230	6,846	11,338	11,958
Gross Profit	644.73	634.71	610.41	552.86	520.38	455.88
Selling, General & Admin	203.68	202.28	203.6	201.85	192.11	170.43
Research & Development	3.62	3.58	3.29	3.02	2.96	3.23
Other Operating Expenses	16.54	14.64	13.75	2.84	-0.61	8.76
Operating Expenses	236.12	232.78	209.91	218.09	197.04	185.15
Operating Income	408.61	401.94	400.5	334.77	323.34	270.74
Interest Expense	-14.94	-14.94	-20.67	-14.72	-16.39	-12.36
Interest & Investment Income	80.19	33.08	24.79	32.2	33.14	41.81
Currency Exchange Gain (Loss)	-16.44	-16.44	-0.69	2.21	21.54	-4.36
Other Non Operating Income (Expenses)	-9.21	-2.49	-1.78	-1.72	-2.64	-1.7
EBT Excluding Unusual Items	437.86	401.14	402.15	352.73	358.98	294.13
Gain (Loss) on Sale of Investments	0.55	0.83	0.32	0.18	0.21	4.92
Gain (Loss) on Sale of Assets	0.36	-0.71	2.14	-0.06	-2.15	3.36
Asset Writedown	-0	0	0.01	0.13	4.98	-
Other Unusual Items	20.67	20.67	11.87	18.48	11.02	16.43
Pretax Income	459.43	421.93	416.49	371.47	373.04	318.83
Income Tax Expense	114.78	104.4	101.92	82.88	78.89	70.89
Earnings From Continuing Operations	344.65	317.53	314.57	288.59	294.16	247.95
Minority Interest in Earnings	-54.13	-56.7	-61.87	-48.43	-50.32	-40.05
Net Income	290.52	260.83	252.7	240.16	243.84	207.89
Net Income to Common	290.52	260.83	252.7	240.16	243.84	207.89
Net Income Growth	12.16%	3.22%	5.22%	-1.51%	17.29%	17.94%
Shares Outstanding (Basic)	347	348	346	348	348	346
Shares Outstanding (Diluted)	347	348	346	348	348	346
Shares Change (YoY)	0.35%	0.47%	-0.55%	-0.08%	0.53%	-0.20%
EPS (Basic)	0.84	0.75	0.73	0.69	0.70	0.60
EPS (Diluted)	0.84	0.75	0.73	0.69	0.70	0.60
EPS Growth	11.77%	2.74%	5.80%	-1.43%	16.67%	18.18%
Free Cash Flow	448.94	589.42	299.88	-8.89	166.08	-271.04
Free Cash Flow Per Share	1.29	1.70	0.87	-0.03	0.48	-0.78
Dividend Per Share	0.650	0.650	0.600	0.500	0.450	0.385
Dividend Growth	8.33%	8.33%	20.00%	11.11%	17.00%	33.31%
Gross Margin	7.20%	7.17%	5.16%	7.47%	4.39%	3.67%
Operating Margin	4.56%	4.54%	3.38%	4.52%	2.73%	2.18%
Profit Margin	3.24%	2.95%	2.13%	3.25%	2.06%	1.68%
Free Cash Flow Margin	5.01%	6.66%	2.53%	-0.12%	1.40%	-2.18%
EBITDA	500.72	492.69	485.8	413.37	395.16	334.79
EBITDA Margin	5.59%	5.57%	4.10%	5.59%	3.33%	2.70%
D&A For EBITDA	92.11	90.75	85.3	78.6	71.82	64.06
EBIT	408.61	401.94	400.5	334.77	323.34	270.74
EBIT Margin	4.56%	4.54%	3.38%	4.52%	2.73%	2.18%
Effective Tax Rate	24.98%	24.74%	24.47%	22.31%	21.15%	22.23%
Revenue as Reported	8,852	8,852	11,840	7,399	11,858	12,414
Advertising Expenses	-	0.49	0.6	0.36	0.19	0.24

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