Hwatsing Technology Co., Ltd. (SHA:688120)

Hwatsing Technology Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	4,148	3,406	2,508	1,649	804.88	385.89
Revenue Growth (YoY)	33.00%	35.82%	52.11%	104.86%	108.58%	82.95%
Cost of Revenue	2,346	1,958	1,439	870.64	451.06	242.87
Gross Profit	1,802	1,448	1,069	778.2	353.82	143.02
Selling, General & Admin	452.97	307.49	211.62	196.73	131.96	72.88
Research & Development	503.01	382.22	303.93	216.59	114.07	50.55
Other Operating Expenses	-118.26	-178.85	-97.51	-55.52	1.82	0.54
Operating Expenses	842.24	528.97	429.49	362.92	247.43	124.97
Operating Income	959.87	919.33	639.63	415.28	106.39	18.05
Interest Expense	-9.54	-12.32	-10.05	-5.52	-3.9	-8.12
Interest & Investment Income	62.93	84.64	96.42	42.04	11.12	5.58
Currency Exchange Gain (Loss)	0.04	0.04	0.78	0.74	2.69	0.91
Other Non Operating Income (Expenses)	-0.6	-0.55	-0.38	-0.19	-0.01	-0.8
EBT Excluding Unusual Items	1,013	991.14	726.4	452.36	116.28	15.62
Gain (Loss) on Sale of Investments	18.86	2.57	-16.74	33.04	0.25	0.29
Gain (Loss) on Sale of Assets	-0.01	-0.01	-0	-	-	-0
Asset Writedown	17.12	-	-	-0.01	-0	-
Other Unusual Items	124.6	124.6	80.18	71.49	79.28	81.88
Pretax Income	1,173	1,118	789.83	556.89	195.82	97.79
Income Tax Expense	79.14	94.88	66.09	55.29	-2.46	-
Net Income	1,094	1,023	723.75	501.6	198.28	97.79
Net Income to Common	1,094	1,023	723.75	501.6	198.28	97.79
Net Income Growth	24.26%	41.40%	44.29%	152.98%	102.76%	-
Shares Outstanding (Basic)	352	352	352	316	264	249
Shares Outstanding (Diluted)	354	354	352	316	264	249
Shares Change (YoY)	0.35%	0.40%	11.39%	19.62%	6.29%	-
EPS (Basic)	3.11	2.91	2.05	1.59	0.75	0.39
EPS (Diluted)	3.09	2.89	2.05	1.59	0.75	0.39
EPS Growth	23.82%	40.85%	29.53%	111.48%	90.76%	-
Free Cash Flow	451.51	832.8	313.4	-149.75	215.48	1.3
Free Cash Flow Per Share	1.28	2.35	0.89	-0.47	0.81	0.01
Dividend Per Share	0.369	0.369	0.248	0.151	-	-
Dividend Growth	49.01%	49.01%	63.93%	-	-	-
Gross Margin	43.44%	42.52%	42.63%	47.20%	43.96%	37.06%
Operating Margin	23.14%	26.99%	25.50%	25.19%	13.22%	4.68%
Profit Margin	26.37%	30.04%	28.86%	30.42%	24.63%	25.34%
Free Cash Flow Margin	10.88%	24.45%	12.50%	-9.08%	26.77%	0.34%
EBITDA	1,054	1,004	710.93	466.87	134.69	35.05
EBITDA Margin	25.42%	29.47%	28.35%	28.32%	16.73%	9.08%
D&A For EBITDA	94.62	84.63	71.3	51.59	28.3	17
EBIT	959.87	919.33	639.63	415.28	106.39	18.05
EBIT Margin	23.14%	26.99%	25.50%	25.19%	13.22%	4.68%
Effective Tax Rate	6.74%	8.48%	8.37%	9.93%	-	-
Revenue as Reported	4,148	3,406	2,508	1,649	804.88	385.89
Advertising Expenses	-	1.85	0.98	0.59	1.3	0.52

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