Western Superconducting Technologies Co., Ltd. (SHA: 688122)

Western Superconducting Technologies Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	3,911	4,003	4,073	2,838	2,060	1,390
Other Revenue	156.51	155.41	154.3	88.79	52.84	56.18
Revenue	4,067	4,159	4,227	2,927	2,113	1,446
Revenue Growth (YoY)	-4.41%	-1.62%	44.41%	38.54%	46.10%	32.87%
Cost of Revenue	2,797	2,857	2,577	1,773	1,419	1,019
Gross Profit	1,270	1,302	1,651	1,154	693.99	426.84
Selling, General & Admin	228.07	223.74	206.09	173.72	132.43	110.61
Research & Development	378.55	329.45	254.29	185.92	130.69	140.95
Other Operating Expenses	11.9	-2.5	28.92	28.76	22.88	13.85
Operating Expenses	639.14	575.89	493.9	399.08	282.7	270.58
Operating Income	631.19	725.85	1,157	754.68	411.3	156.26
Interest Expense	-65.77	-67.4	-57.62	-44.5	-46.92	-47.49
Interest & Investment Income	18.61	22.04	21.97	19.5	5.28	15.2
Earnings From Equity Investments	-	-	-	-	7.27	-
Currency Exchange Gain (Loss)	-1.4	3.76	5.03	15.45	-17.45	5.62
Other Non Operating Income (Expenses)	-3.17	-0.91	-0.77	-1.63	-0.61	-2.59
EBT Excluding Unusual Items	579.47	683.35	1,125	743.51	358.87	127.01
Gain (Loss) on Sale of Investments	31.43	38.74	24.19	5.06	9.09	0.61
Gain (Loss) on Sale of Assets	-1.49	-3.54	0.67	2.55	-1.04	-2.33
Asset Writedown	-	-	-	-0.73	-	-
Other Unusual Items	166.96	149.6	87.54	101.15	56.23	42.09
Pretax Income	776.37	868.15	1,238	851.55	423.15	167.37
Income Tax Expense	91.07	103.57	142.4	106.35	53.32	13.89
Earnings From Continuing Operations	685.3	764.57	1,095	745.2	369.83	153.48
Minority Interest in Earnings	-5.53	-12.2	-15.31	-3.72	0.94	4.76
Net Income	679.77	752.37	1,080	741.48	370.77	158.24
Net Income to Common	679.77	752.37	1,080	741.48	370.77	158.24
Net Income Growth	-28.34%	-30.33%	45.64%	99.98%	134.31%	17.26%
Shares Outstanding (Basic)	650	650	650	618	618	582
Shares Outstanding (Diluted)	650	650	650	618	618	582
Shares Change (YoY)	0.01%	0.00%	5.16%	-0.01%	6.24%	4.63%
EPS (Basic)	1.05	1.16	1.66	1.20	0.60	0.27
EPS (Diluted)	1.05	1.16	1.66	1.20	0.60	0.27
EPS Growth	-28.35%	-30.33%	38.50%	100.00%	120.54%	12.07%
Free Cash Flow	-173.77	-247.69	-363.59	-60.68	-410.99	-273.15
Free Cash Flow Per Share	-0.27	-0.38	-0.56	-0.10	-0.67	-0.47
Dividend Per Share	0.700	0.700	0.714	0.714	0.286	0.214
Dividend Growth	-2.00%	-2.00%	0%	150.02%	33.32%	0%
Gross Margin	31.23%	31.30%	39.05%	39.41%	32.85%	29.52%
Operating Margin	15.52%	17.45%	27.36%	25.78%	19.47%	10.81%
Profit Margin	16.71%	18.09%	25.55%	25.33%	17.55%	10.94%
Free Cash Flow Margin	-4.27%	-5.96%	-8.60%	-2.07%	-19.45%	-18.89%
EBITDA	782.57	866.75	1,280	863.59	511.24	250.72
EBITDA Margin	19.24%	20.84%	30.29%	29.50%	24.20%	17.34%
D&A For EBITDA	151.38	140.9	123.79	108.9	99.94	94.45
EBIT	631.19	725.85	1,157	754.68	411.3	156.26
EBIT Margin	15.52%	17.45%	27.36%	25.78%	19.47%	10.81%
Effective Tax Rate	11.73%	11.93%	11.51%	12.49%	12.60%	8.30%
Revenue as Reported	4,067	4,159	4,227	2,927	2,113	1,446
Advertising Expenses	-	0.35	0.06	0.1	0.02	0.32

Source: S&P Capital IQ. Standard template. Financial Sources.