Novoray 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	Mar '26 Mar 31, 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	1,169	1,114	959.16	710.99	660.91	623.82
Other Revenue	1.37	1.37	1.2	0.69	1.04	0.89
Revenue	1,171	1,116	960.36	711.68	661.95	624.71
Revenue Growth (YoY)	17.46%	16.16%	34.94%	7.51%	5.96%	54.55%
Cost of Revenue	699.04	664.46	573.9	432.97	402.9	359.6
Gross Profit	471.73	451.04	386.46	278.71	259.05	265.11
Selling, General & Admin	74.58	71.83	66.66	59.18	52.57	46.67
Research & Development	66.26	64.17	60.4	47.4	38.5	35.06
Other Operating Expenses	4.48	5.44	3.83	-7.84	6.86	5.88
Operating Expenses	145.35	141.09	131.57	98.95	96.5	87.36
Operating Income	326.38	309.95	254.89	179.76	162.55	177.75
Interest Expense	-3.84	-1.45	-3.29	-2.03	-2	-0.28
Interest & Investment Income	20.05	19.29	21.46	14.1	6.68	13.14
Currency Exchange Gain (Loss)	-9.19	-9.19	2.96	1.16	8.44	-1.53
Other Non Operating Income (Expenses)	-7.67	-0.38	-0.22	-0.27	-0.27	-0.21
EBT Excluding Unusual Items	325.74	318.21	275.79	192.71	175.4	188.87
Gain (Loss) on Sale of Investments	3.36	2.68	-1	2.68	2.16	0.8
Gain (Loss) on Sale of Assets	-1.04	-1.26	-0.38	-0.02	-0.83	0.08
Asset Writedown	0.13	-	-	-	-	-
Other Unusual Items	14.6	14.6	11.77	1.99	16.42	7.65
Pretax Income	342.78	334.23	286.19	197.36	193.15	197.4
Income Tax Expense	41.54	41.59	34.81	23.37	4.91	24.53
Net Income	301.24	292.64	251.37	173.99	188.24	172.87
Net Income to Common	301.24	292.64	251.37	173.99	188.24	172.87
Net Income Growth	14.66%	16.42%	44.47%	-7.57%	8.89%	55.85%
Shares Outstanding (Basic)	241	242	242	241	242	241
Shares Outstanding (Diluted)	241	242	242	241	242	241
Shares Change (YoY)	-0.58%	0.06%	0.45%	-0.69%	0.58%	-0.24%
EPS (Basic)	1.25	1.21	1.04	0.72	0.78	0.72
EPS (Diluted)	1.25	1.21	1.04	0.72	0.78	0.72
EPS Growth	15.32%	16.35%	43.82%	-6.93%	8.26%	56.24%
Free Cash Flow	132.9	157.16	165.13	193.93	85.86	-54.55
Free Cash Flow Per Share	0.55	0.65	0.68	0.81	0.35	-0.23
Dividend Per Share	0.500	0.500	0.385	0.385	0.235	0.216
Dividend Growth	30.00%	30.00%	-	63.73%	8.50%	21.63%
Gross Margin	40.29%	40.43%	40.24%	39.16%	39.13%	42.44%
Operating Margin	27.88%	27.79%	26.54%	25.26%	24.56%	28.45%
Profit Margin	25.73%	26.23%	26.17%	24.45%	28.44%	27.67%
Free Cash Flow Margin	11.35%	14.09%	17.19%	27.25%	12.97%	-8.73%
EBITDA	385.83	368.18	308.28	229.41	198.9	200.67
EBITDA Margin	32.95%	33.01%	32.10%	32.23%	30.05%	32.12%
D&A For EBITDA	59.44	58.23	53.4	49.65	36.36	22.92
EBIT	326.38	309.95	254.89	179.76	162.55	177.75
EBIT Margin	27.88%	27.79%	26.54%	25.26%	24.56%	28.45%
Effective Tax Rate	12.12%	12.44%	12.16%	11.84%	2.54%	12.43%
Revenue as Reported	1,171	1,116	960.36	711.68	661.95	624.71

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