Novoray Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	1,089	959.16	710.99	660.91	623.82	403.56
Other Revenue	1.2	1.2	0.69	1.04	0.89	0.65
Revenue	1,090	960.36	711.68	661.95	624.71	404.2
Revenue Growth (YoY)	21.91%	34.94%	7.51%	5.96%	54.55%	28.20%
Cost of Revenue	655.41	573.9	432.97	402.9	359.6	231.33
Gross Profit	435.08	386.46	278.71	259.05	265.11	172.87
Selling, General & Admin	71.04	66.66	59.18	52.57	46.67	36.82
Research & Development	64.87	60.4	47.4	38.5	35.06	19.78
Other Operating Expenses	5.5	3.83	-7.84	6.86	5.88	3.57
Operating Expenses	140.43	131.57	98.95	96.5	87.36	66.94
Operating Income	294.66	254.89	179.76	162.55	177.75	105.93
Interest Expense	-1.62	-3.29	-2.03	-2	-0.28	-0.16
Interest & Investment Income	20.25	21.46	14.1	6.68	13.14	16.62
Currency Exchange Gain (Loss)	2.96	2.96	1.16	8.44	-1.53	-0.94
Other Non Operating Income (Expenses)	-4.15	-0.22	-0.27	-0.27	-0.21	-0.2
EBT Excluding Unusual Items	312.1	275.79	192.71	175.4	188.87	121.26
Gain (Loss) on Sale of Investments	3.31	-1	2.68	2.16	0.8	0.05
Gain (Loss) on Sale of Assets	-0.45	-0.38	-0.02	-0.83	0.08	-1.43
Asset Writedown	-0.11	-	-	-	-	-
Other Unusual Items	11.77	11.77	1.99	16.42	7.65	8.5
Pretax Income	326.62	286.19	197.36	193.15	197.4	128.37
Income Tax Expense	40.1	34.81	23.37	4.91	24.53	17.45
Net Income	286.52	251.37	173.99	188.24	172.87	110.92
Net Income to Common	286.52	251.37	173.99	188.24	172.87	110.92
Net Income Growth	22.43%	44.47%	-7.57%	8.89%	55.85%	48.49%
Shares Outstanding (Basic)	243	242	241	242	241	241
Shares Outstanding (Diluted)	243	242	241	242	241	241
Shares Change (YoY)	1.79%	0.60%	-0.69%	0.58%	-0.24%	30.06%
EPS (Basic)	1.18	1.04	0.72	0.78	0.72	0.46
EPS (Diluted)	1.18	1.04	0.72	0.78	0.72	0.46
EPS Growth	20.27%	43.62%	-6.93%	8.26%	56.24%	14.17%
Free Cash Flow	164.47	165.13	193.93	85.86	-54.55	-34.45
Free Cash Flow Per Share	0.68	0.68	0.81	0.35	-0.23	-0.14
Dividend Per Share	0.385	0.385	0.385	0.235	0.216	0.178
Dividend Growth	-	-	63.73%	8.50%	21.63%	-
Gross Margin	39.90%	40.24%	39.16%	39.13%	42.44%	42.77%
Operating Margin	27.02%	26.54%	25.26%	24.56%	28.45%	26.21%
Profit Margin	26.27%	26.17%	24.45%	28.44%	27.67%	27.44%
Free Cash Flow Margin	15.08%	17.19%	27.25%	12.97%	-8.73%	-8.52%
EBITDA	346.6	305.85	229.41	198.9	200.67	122.19
EBITDA Margin	31.78%	31.85%	32.23%	30.05%	32.12%	30.23%
D&A For EBITDA	51.94	50.96	49.65	36.36	22.92	16.26
EBIT	294.66	254.89	179.76	162.55	177.75	105.93
EBIT Margin	27.02%	26.54%	25.26%	24.56%	28.45%	26.21%
Effective Tax Rate	12.28%	12.16%	11.84%	2.54%	12.43%	13.60%
Revenue as Reported	1,090	960.36	711.68	661.95	624.71	404.2

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