Hengsheng Energy Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	903.87	807.34	783.22	880.75	764.34	523.81
Other Revenue	6.83	6.83	5.62	6.33	6.28	2.99
Revenue	910.7	814.17	788.84	887.09	770.62	526.8
Revenue Growth (YoY)	10.78%	3.21%	-11.08%	15.11%	46.28%	11.13%
Selling, General & Admin	32.19	25.4	26.8	20.32	23.27	17.75
Provision for Bad Debts	25.7	12.28	15.38	10.31	10.3	0.95
Other Operating Expenses	677.58	624.59	582.58	659.15	572.9	360.34
Total Operating Expenses	760.74	679.63	635.63	700.43	607.7	379.04
Operating Income	149.96	134.54	153.21	186.65	162.92	147.77
Interest Expense	-12.32	-6.98	-4.59	-3.24	-5.5	-10.24
Interest Income	0.64	2.25	4.48	4.36	1.62	0.26
Net Interest Expense	-11.68	-4.73	-0.12	1.12	-3.88	-9.99
Other Non-Operating Income (Expenses)	17.99	-0.17	-0.09	-0.06	0	-0.02
EBT Excluding Unusual Items	156.26	129.63	153	187.71	159.04	137.76
Gain (Loss) on Sale of Investments	-0.95	-0.78	-0.38	0.96	0.56	-0.2
Gain (Loss) on Sale of Assets	0.81	42.9	0.01	-0	1.07	-
Asset Writedown	0.11	-	-0.03	-17.19	0.22	-0
Other Unusual Items	3.2	3.2	21.1	8.7	4.72	8.09
Pretax Income	159.43	174.95	173.7	180.18	165.61	145.65
Income Tax Expense	41.43	38.39	38.4	43.29	41.05	36.43
Earnings From Continuing Ops.	118	136.56	135.3	136.88	124.56	109.21
Minority Interest in Earnings	3.64	0.04	0.51	0.17	-	-
Net Income	121.64	136.59	135.81	137.05	124.56	109.21
Net Income to Common	121.64	136.59	135.81	137.05	124.56	109.21
Net Income Growth	-17.79%	0.58%	-0.90%	10.03%	14.05%	14.86%
Shares Outstanding (Basic)	282	279	277	280	233	209
Shares Outstanding (Diluted)	282	279	277	280	233	209
Shares Change (YoY)	3.22%	0.58%	-0.90%	20.29%	11.01%	-0.26%
EPS (Basic)	0.43	0.49	0.49	0.49	0.54	0.52
EPS (Diluted)	0.43	0.49	0.49	0.49	0.54	0.52
EPS Growth	-20.36%	-	-	-8.53%	2.74%	15.87%
Free Cash Flow	95.31	-22.07	-105.8	-90.5	101.84	60.85
Free Cash Flow Per Share	0.34	-0.08	-0.38	-0.32	0.44	0.29
Dividend Per Share	0.150	0.250	0.250	0.429	0.357	-
Dividend Growth	-57.14%	-	-41.67%	20.02%	-	-
Profit Margin	13.36%	16.78%	17.22%	15.45%	16.16%	20.73%
Free Cash Flow Margin	10.47%	-2.71%	-13.41%	-10.20%	13.21%	11.55%
EBITDA	214.45	193.37	204.51	240.54	218.15	198.95
EBITDA Margin	23.55%	23.75%	25.92%	27.12%	28.31%	37.77%
D&A For EBITDA	64.49	58.84	51.3	53.89	55.23	51.19
EBIT	149.96	134.54	153.21	186.65	162.92	147.77
EBIT Margin	16.47%	16.53%	19.42%	21.04%	21.14%	28.05%
Effective Tax Rate	25.99%	21.95%	22.11%	24.03%	24.79%	25.01%
Revenue as Reported	910.7	814.17	788.84	887.09	770.62	526.8

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.