Hengsheng Energy Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	1,021	807.34	783.22	880.75	764.34
Other Revenue	-	6.83	5.62	6.33	6.28
Revenue	1,021	814.17	788.84	887.09	770.62
Revenue Growth (YoY)	25.39%	3.21%	-11.08%	15.11%	46.28%
Selling, General & Admin	36.24	25.4	26.8	20.32	23.27
Provision for Bad Debts	-	12.28	15.38	10.31	10.3
Other Operating Expenses	736.44	624.59	582.58	659.15	572.9
Total Operating Expenses	797.16	679.63	635.63	700.43	607.7
Operating Income	223.68	134.54	153.21	186.65	162.92
Interest Expense	-	-6.98	-4.59	-3.24	-5.5
Interest Income	1.86	2.25	4.48	4.36	1.62
Net Interest Expense	1.86	-4.73	-0.12	1.12	-3.88
Other Non-Operating Income (Expenses)	-25.17	-0.17	-0.09	-0.06	0
EBT Excluding Unusual Items	200.37	129.63	153	187.71	159.04
Gain (Loss) on Sale of Investments	-	-0.78	-0.38	0.96	0.56
Gain (Loss) on Sale of Assets	-0.04	42.9	0.01	-0	1.07
Asset Writedown	-1.98	-	-0.03	-17.19	0.22
Other Unusual Items	-	3.2	21.1	8.7	4.72
Pretax Income	198.36	174.95	173.7	180.18	165.61
Income Tax Expense	38.4	38.39	38.4	43.29	41.05
Earnings From Continuing Ops.	159.95	136.56	135.3	136.88	124.56
Minority Interest in Earnings	-3.96	0.04	0.51	0.17	-
Net Income	156	136.59	135.81	137.05	124.56
Net Income to Common	156	136.59	135.81	137.05	124.56
Net Income Growth	14.20%	0.58%	-0.90%	10.03%	14.05%
Shares Outstanding (Basic)	279	279	277	280	233
Shares Outstanding (Diluted)	279	279	277	280	233
Shares Change (YoY)	-0.07%	0.58%	-0.90%	20.29%	11.01%
EPS (Basic)	0.56	0.49	0.49	0.49	0.54
EPS (Diluted)	0.56	0.49	0.49	0.49	0.54
EPS Growth	14.29%	-	-	-8.53%	2.74%
Free Cash Flow	202.25	-22.07	-105.8	-90.5	101.84
Free Cash Flow Per Share	0.73	-0.08	-0.38	-0.32	0.44
Dividend Per Share	-	0.250	0.250	0.429	0.357
Dividend Growth	-	-	-41.67%	20.02%	-
Profit Margin	15.28%	16.78%	17.22%	15.45%	16.16%
Free Cash Flow Margin	19.81%	-2.71%	-13.41%	-10.20%	13.21%
EBITDA	330.84	193.37	204.51	240.54	218.15
EBITDA Margin	32.41%	23.75%	25.92%	27.12%	28.31%
D&A For EBITDA	107.16	58.84	51.3	53.89	55.23
EBIT	223.68	134.54	153.21	186.65	162.92
EBIT Margin	21.91%	16.53%	19.42%	21.04%	21.14%
Effective Tax Rate	19.36%	21.95%	22.11%	24.03%	24.79%
Revenue as Reported	-	814.17	788.84	887.09	770.62

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.