Hengsheng Energy 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	1,104	1,015	807.34	783.22	880.75	764.34
Other Revenue	6.26	6.26	6.83	5.62	6.33	6.28
Revenue	1,110	1,021	814.17	788.84	887.09	770.62
Revenue Growth (YoY)	29.96%	25.39%	3.21%	-11.08%	15.11%	46.28%
Selling, General & Admin	37.36	36.24	25.4	26.8	20.32	23.27
Provision for Bad Debts	27.6	27.6	12.28	15.38	10.31	10.3
Other Operating Expenses	801.36	738.86	624.59	582.58	659.15	572.9
Total Operating Expenses	887.69	827.19	679.63	635.63	700.43	607.7
Operating Income	222.26	193.65	134.54	153.21	186.65	162.92
Interest Expense	-14.42	-14.42	-6.98	-4.59	-3.24	-5.5
Interest Income	2.41	2.41	2.25	4.48	4.36	1.62
Net Interest Expense	-12.01	-12.01	-4.73	-0.12	1.12	-3.88
Currency Exchange Gain (Loss)	0.01	0.01	-	-	-	-
Other Non-Operating Income (Expenses)	-22.28	-2.52	-0.17	-0.09	-0.06	0
EBT Excluding Unusual Items	187.98	179.13	129.63	153	187.71	159.04
Gain (Loss) on Sale of Investments	0.29	-	-0.78	-0.38	0.96	0.56
Gain (Loss) on Sale of Assets	-0.05	-0.04	42.9	0.01	-0	1.07
Asset Writedown	-0.55	-0.25	-1.3	-0.03	-17.19	0.22
Other Unusual Items	19.52	19.52	4.5	21.1	8.7	4.72
Pretax Income	207.19	198.36	174.95	173.7	180.18	165.61
Income Tax Expense	39.05	38.4	38.39	38.4	43.29	41.05
Earnings From Continuing Ops.	168.14	159.95	136.56	135.3	136.88	124.56
Minority Interest in Earnings	-5.92	-3.96	0.04	0.51	0.17	-
Net Income	162.22	156	136.59	135.81	137.05	124.56
Net Income to Common	162.22	156	136.59	135.81	137.05	124.56
Net Income Growth	5.33%	14.20%	0.58%	-0.90%	10.03%	14.05%
Shares Outstanding (Basic)	279	279	279	277	280	233
Shares Outstanding (Diluted)	279	279	279	277	280	233
Shares Change (YoY)	-0.23%	-0.07%	0.58%	-0.90%	20.29%	11.01%
EPS (Basic)	0.58	0.56	0.49	0.49	0.49	0.54
EPS (Diluted)	0.58	0.56	0.49	0.49	0.49	0.54
EPS Growth	5.57%	14.29%	-	-	-8.53%	2.74%
Free Cash Flow	136.21	202.25	-22.07	-105.8	-90.5	101.84
Free Cash Flow Per Share	0.49	0.73	-0.08	-0.38	-0.32	0.44
Dividend Per Share	0.300	0.300	0.250	0.250	0.429	0.357
Dividend Growth	20.00%	20.00%	-	-41.67%	20.02%	-
Profit Margin	14.62%	15.28%	16.78%	17.22%	15.45%	16.16%
Free Cash Flow Margin	12.27%	19.81%	-2.71%	-13.41%	-10.20%	13.21%
EBITDA	336.44	296.82	193.67	204.51	240.54	218.15
EBITDA Margin	30.31%	29.08%	23.79%	25.92%	27.12%	28.31%
D&A For EBITDA	114.18	103.17	59.14	51.3	53.89	55.23
EBIT	222.26	193.65	134.54	153.21	186.65	162.92
EBIT Margin	20.03%	18.97%	16.53%	19.42%	21.04%	21.14%
Effective Tax Rate	18.85%	19.36%	21.95%	22.11%	24.03%	24.79%
Revenue as Reported	1,021	1,021	814.17	788.84	887.09	770.62

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