Cathay Biotech 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	3,219	3,120	2,819	2,067	2,332	2,296
Other Revenue	174.63	174.63	138.84	47.17	108.67	67.67
Revenue	3,394	3,295	2,958	2,114	2,441	2,363
Revenue Growth (YoY)	11.30%	11.40%	39.91%	-13.39%	3.28%	57.86%
Cost of Revenue	2,348	2,304	2,121	1,535	1,612	1,526
Gross Profit	1,045	991.2	836.44	579.23	829.2	837.21
Selling, General & Admin	242.14	234.5	222	221.61	232.28	175.11
Research & Development	234.21	237.89	233.34	189.13	187.71	133.53
Other Operating Expenses	-37.44	-19.69	-18.34	9.21	-4.09	22.94
Operating Expenses	450.64	464.43	440.34	413.68	422.59	337.95
Operating Income	594.83	526.78	396.1	165.55	406.61	499.25
Interest Expense	-8.79	-8.79	-27.43	-32.17	-20.01	-16.29
Interest & Investment Income	185.6	185.6	160.75	219.77	236.78	229.61
Earnings From Equity Investments	-1.14	-	-	-7.82	-3.71	-
Currency Exchange Gain (Loss)	-72.91	-72.91	36.73	29.59	82.97	-14.14
Other Non Operating Income (Expenses)	-46.6	-3.63	-6.04	-5.7	-4.61	-0.59
EBT Excluding Unusual Items	650.98	627.04	560.11	369.22	698.03	697.84
Gain (Loss) on Sale of Investments	-	-	-8.95	-	-	-
Gain (Loss) on Sale of Assets	6.7	6.71	0.42	-0.01	0.07	-
Asset Writedown	10.05	-0.03	-0.05	-0.26	-0.02	-0.06
Other Unusual Items	-3.56	-3.56	-3.51	79.97	-2.09	26.66
Pretax Income	664.18	630.16	548.02	448.92	695.99	724.45
Income Tax Expense	94.63	100.66	73.43	40.39	83.34	90.94
Earnings From Continuing Operations	569.56	529.5	474.59	408.54	612.65	633.51
Minority Interest in Earnings	19.93	31.22	14.37	-42.01	-59.39	-38.79
Net Income	589.49	560.72	488.96	366.52	553.27	594.72
Net Income to Common	589.49	560.72	488.96	366.52	553.27	594.72
Net Income Growth	13.22%	14.68%	33.41%	-33.75%	-6.97%	29.94%
Shares Outstanding (Basic)	715	684	582	582	582	583
Shares Outstanding (Diluted)	715	684	582	582	582	583
Shares Change (YoY)	22.28%	17.47%	0.05%	-0.10%	-0.11%	7.38%
EPS (Basic)	0.82	0.82	0.84	0.63	0.95	1.02
EPS (Diluted)	0.82	0.82	0.84	0.63	0.95	1.02
EPS Growth	-7.41%	-2.38%	33.33%	-33.68%	-6.86%	21.01%
Free Cash Flow	-463.44	-339.34	-22.38	-1,000	-3,395	-880.49
Free Cash Flow Per Share	-0.65	-0.50	-0.04	-1.72	-5.83	-1.51
Dividend Per Share	0.450	0.450	0.400	0.190	0.180	0.321
Dividend Growth	12.50%	12.50%	110.53%	5.56%	-43.99%	-43.75%
Gross Margin	30.80%	30.08%	28.28%	27.40%	33.97%	35.42%
Operating Margin	17.53%	15.99%	13.39%	7.83%	16.66%	21.12%
Profit Margin	17.37%	17.02%	16.53%	17.34%	22.66%	25.16%
Free Cash Flow Margin	-13.66%	-10.30%	-0.76%	-47.32%	-139.06%	-37.25%
EBITDA	902.65	837.27	717.26	451.26	671.73	667.79
EBITDA Margin	26.60%	25.41%	24.25%	21.34%	27.52%	28.25%
D&A For EBITDA	307.83	310.49	321.16	285.72	265.12	168.54
EBIT	594.83	526.78	396.1	165.55	406.61	499.25
EBIT Margin	17.53%	15.99%	13.39%	7.83%	16.66%	21.12%
Effective Tax Rate	14.25%	15.97%	13.40%	9.00%	11.97%	12.55%
Revenue as Reported	3,295	3,295	2,958	2,114	2,441	2,363

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