Zhejiang Power New Energy Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	673.4	940.24	937.95	1,635	861.74
Other Revenue	-	8.33	16.32	21.62	4.47
Revenue	673.4	948.57	954.27	1,656	866.21
Revenue Growth (YoY)	-29.01%	-0.60%	-42.38%	91.21%	49.60%
Cost of Revenue	1,369	1,342	1,191	1,457	728.85
Gross Profit	-695.28	-393.61	-237.03	199.47	137.37
Selling, General & Admin	-	54.37	46.32	36.99	27.1
Research & Development	-	83.94	50.77	52.9	32.07
Other Operating Expenses	-	-3.1	-7.6	3.81	2.51
Operating Expenses	-	137.3	92.4	93.25	60.43
Operating Income	-695.28	-530.91	-329.43	106.22	76.94
Interest Expense	-	-1.02	-0.17	-0.07	-0.91
Interest & Investment Income	-	8.38	29.01	9.21	4.65
Other Non Operating Income (Expenses)	-1.93	-0.27	0.99	-0.44	1.65
EBT Excluding Unusual Items	-697.21	-523.82	-299.59	114.92	82.33
Gain (Loss) on Sale of Investments	-	-	-	-	-1.16
Gain (Loss) on Sale of Assets	-	-	-	-0.63	-1.38
Asset Writedown	-	-207.18	-	-	-0.07
Other Unusual Items	-	5.26	2.41	46.78	12.04
Pretax Income	-697.21	-725.73	-297.18	161.08	91.77
Income Tax Expense	0.65	0.77	-49.54	15.29	8.21
Net Income	-697.86	-726.5	-247.64	145.79	83.56
Net Income to Common	-697.86	-726.5	-247.64	145.79	83.56
Net Income Growth	-	-	-	74.49%	103.87%
Shares Outstanding (Basic)	159	159	135	131	107
Shares Outstanding (Diluted)	159	159	135	131	107
Shares Change (YoY)	-0.01%	17.86%	2.47%	23.13%	23.76%
EPS (Basic)	-4.40	-4.58	-1.84	1.11	0.78
EPS (Diluted)	-4.40	-4.58	-1.84	1.11	0.78
EPS Growth	-	-	-	41.71%	64.91%
Free Cash Flow	-	-723.42	-309.81	-375.28	-526.42
Free Cash Flow Per Share	-	-4.56	-2.30	-2.86	-4.93
Dividend Per Share	-	-	-	0.275	-
Gross Margin	-103.25%	-41.49%	-24.84%	12.04%	15.86%
Operating Margin	-103.25%	-55.97%	-34.52%	6.41%	8.88%
Profit Margin	-103.63%	-76.59%	-25.95%	8.80%	9.65%
Free Cash Flow Margin	-	-76.26%	-32.47%	-22.66%	-60.77%
EBITDA	-573.09	-408.71	-250.04	171.26	108.65
EBITDA Margin	-85.10%	-43.09%	-26.20%	10.34%	12.54%
D&A For EBITDA	122.2	122.2	79.39	65.05	31.71
EBIT	-695.28	-530.91	-329.43	106.22	76.94
EBIT Margin	-103.25%	-55.97%	-34.52%	6.41%	8.88%
Effective Tax Rate	-	-	-	9.49%	8.95%
Revenue as Reported	-	948.57	954.27	1,656	866.21
Advertising Expenses	-	0.44	0.18	0.38	0.24

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