Jiaxing ZMAX Optech 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	587.89	449.03	371.63	392.48	383.98	319.28
Other Revenue	5.64	5.64	7.22	11.52	12.52	15.05
Revenue	593.53	454.66	378.85	404.01	396.5	334.33
Revenue Growth (YoY)	28.26%	20.01%	-6.23%	1.89%	18.59%	17.64%
Cost of Revenue	405.06	305.46	252.51	276.37	278.14	238.84
Gross Profit	188.48	149.21	126.34	127.64	118.35	95.5
Selling, General & Admin	74.55	59	62.39	48.87	46.54	42.12
Research & Development	65.11	48.6	40.52	40.68	33.14	23.78
Other Operating Expenses	4.43	2.38	1.27	4.16	1.65	-2.39
Operating Expenses	144.32	109.66	104.96	92.3	82.78	63.49
Operating Income	44.16	39.55	21.38	35.34	35.58	32
Interest Expense	-1.13	-0.12	-0.35	-1.21	-1.15	-1.69
Interest & Investment Income	10.12	10.47	10.26	0.24	0.08	0.08
Currency Exchange Gain (Loss)	1.2	1.2	0.24	1.05	-0.72	-0.36
Other Non Operating Income (Expenses)	-0.64	0.37	0.04	-0.56	-0.3	-0.46
EBT Excluding Unusual Items	53.69	51.46	31.57	34.85	33.5	29.56
Gain (Loss) on Sale of Investments	-0.8	-0.27	-0.55	-0.63	-0.44	-0.07
Gain (Loss) on Sale of Assets	0.14	0.11	-0.01	-0.37	0.01	0.01
Asset Writedown	2.45	-0.24	-2.17	-0.23	-0.2	-1.01
Other Unusual Items	6.46	6.52	7.74	10.11	6.04	-
Pretax Income	61.94	57.57	36.58	43.74	38.91	28.49
Income Tax Expense	2.19	4.08	0.04	2.41	3.34	2.25
Earnings From Continuing Operations	59.75	53.49	36.54	41.33	35.57	26.24
Minority Interest in Earnings	-4.35	-0.06	-0.21	-0.22	0.38	0.4
Net Income	55.4	53.43	36.33	41.12	35.95	26.65
Net Income to Common	55.4	53.43	36.33	41.12	35.95	26.65
Net Income Growth	-9.34%	47.06%	-11.64%	14.37%	34.91%	17.93%
Shares Outstanding (Basic)	88	88	84	66	67	66
Shares Outstanding (Diluted)	88	88	84	66	67	66
Shares Change (YoY)	2.55%	3.67%	27.41%	-0.39%	0.87%	-
EPS (Basic)	0.63	0.61	0.43	0.62	0.54	0.40
EPS (Diluted)	0.63	0.61	0.43	0.62	0.54	0.40
EPS Growth	-11.59%	41.86%	-30.64%	14.82%	33.74%	-
Free Cash Flow	-96.02	50.07	54.67	-17.37	18.86	-67.13
Free Cash Flow Per Share	-1.09	0.57	0.65	-0.26	0.28	-1.02
Dividend Per Share	0.450	0.450	0.300	0.200	0.200	-
Dividend Growth	12.50%	50.00%	50.00%	-	-	-
Gross Margin	31.75%	32.82%	33.35%	31.59%	29.85%	28.56%
Operating Margin	7.44%	8.70%	5.64%	8.75%	8.97%	9.57%
Profit Margin	9.33%	11.75%	9.59%	10.18%	9.07%	7.97%
Free Cash Flow Margin	-16.18%	11.01%	14.43%	-4.30%	4.76%	-20.08%
EBITDA	66.57	61.47	42.65	55.43	54.34	47.93
EBITDA Margin	11.22%	13.52%	11.26%	13.72%	13.71%	14.34%
D&A For EBITDA	22.42	21.93	21.27	20.09	18.76	15.93
EBIT	44.16	39.55	21.38	35.34	35.58	32
EBIT Margin	7.44%	8.70%	5.64%	8.75%	8.97%	9.57%
Effective Tax Rate	3.53%	7.09%	0.11%	5.51%	8.58%	7.90%
Revenue as Reported	593.53	454.66	378.85	404.01	396.5	-
Advertising Expenses	-	1.79	1.79	0.51	0.63	0.22

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