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	Jun '26 Jun 30, 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	3,396	3,120	2,819	2,067	2,332	2,296
Other Revenue	128.12	174.63	138.84	47.17	108.67	67.67
Revenue	3,524	3,295	2,958	2,114	2,441	2,363
Revenue Growth	10.68%	11.40%	39.91%	-13.39%	3.28%	57.86%
Cost of Revenue	2,377	2,304	2,121	1,535	1,612	1,526
Gross Profit	1,148	991.2	836.44	579.23	829.2	837.21
Selling, General & Admin	243.97	234.5	222	221.61	232.28	175.11
Research & Development	241.36	237.89	233.34	189.13	187.71	133.53
Other Operating Expenses	-10.6	-19.69	-18.34	9.21	-4.09	22.94
Operating Expenses	485.6	464.43	440.34	413.68	422.59	337.95
Operating Income	661.94	526.78	396.1	165.55	406.61	499.25
Interest Expense	-3.85	-8.79	-27.43	-32.17	-20.01	-16.29
Interest & Investment Income	209.75	185.6	160.75	219.77	236.78	229.61
Earnings From Equity Investments	-	-	-	-7.82	-3.71	-
Currency Exchange Gain (Loss)	-196.4	-72.91	36.73	29.59	82.97	-14.14
Other Non Operating Income (Expenses)	-1.76	-3.63	-6.04	-5.7	-4.61	-0.59
EBT Excluding Unusual Items	669.69	627.04	560.11	369.22	698.03	697.84
Gain (Loss) on Sale of Investments	-4.81	-	-8.95	-	-	-
Gain (Loss) on Sale of Assets	1.49	6.71	0.42	-0.01	0.07	-
Asset Writedown	-0.81	-0.03	-0.05	-0.26	-0.02	-0.06
Other Unusual Items	49.48	-3.56	-3.51	79.97	-2.09	26.66
Pretax Income	715.05	630.16	548.02	448.92	695.99	724.45
Income Tax Expense	100.07	100.66	73.43	40.39	83.34	90.94
Earnings From Continuing Operations	614.98	529.5	474.59	408.54	612.65	633.51
Minority Interest in Earnings	9.81	31.22	14.37	-42.01	-59.39	-38.79
Net Income	624.78	560.72	488.96	366.52	553.27	594.72
Net Income to Common	624.78	560.72	488.96	366.52	553.27	594.72
Net Income Growth	13.56%	14.68%	33.41%	-33.75%	-6.97%	29.94%
Shares Outstanding (Basic)	714	684	582	582	582	583
Shares Outstanding (Diluted)	714	684	582	582	582	583
Shares Change	15.90%	17.47%	0.05%	-0.10%	-0.11%	7.38%
EPS (Basic)	0.88	0.82	0.84	0.63	0.95	1.02
EPS (Diluted)	0.88	0.82	0.84	0.63	0.95	1.02
EPS Growth	-2.02%	-2.38%	33.33%	-33.68%	-6.86%	21.01%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	-121.86	-339.34	-22.38	-1,000	-3,395	-880.49
Free Cash Flow Per Share	-0.17	-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	32.56%	30.08%	28.28%	27.40%	33.97%	35.42%
Operating Margin	18.78%	15.99%	13.39%	7.83%	16.66%	21.12%
Profit Margin	17.73%	17.02%	16.53%	17.34%	22.66%	25.16%
Free Cash Flow Margin	-3.46%	-10.30%	-0.76%	-47.32%	-139.06%	-37.25%
EBITDA	971.98	837.27	717.26	451.26	671.73	667.79
EBITDA Margin	27.58%	25.41%	24.25%	21.34%	27.52%	28.25%
D&A For EBITDA	310.04	310.49	321.16	285.72	265.12	168.54
EBIT	661.94	526.78	396.1	165.55	406.61	499.25
EBIT Margin	18.78%	15.99%	13.39%	7.83%	16.66%	21.12%
Effective Tax Rate	13.99%	15.97%	13.40%	9.00%	11.97%	12.55%
Revenue as Reported	3,524	3,295	2,958	2,114	2,441	2,363