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 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	720.17	644.16	449.03	371.63	392.48	383.98
Other Revenue	13.96	13.96	5.64	7.22	11.52	12.52
Revenue	734.14	658.12	454.66	378.85	404.01	396.5
Revenue Growth (YoY)	50.63%	44.75%	20.01%	-6.23%	1.89%	18.59%
Cost of Revenue	503.1	450.69	305.46	252.51	276.37	278.14
Gross Profit	231.03	207.43	149.21	126.34	127.64	118.35
Selling, General & Admin	92.42	83.72	59	62.39	48.87	46.54
Research & Development	79.41	72.33	48.6	40.52	40.68	33.14
Other Operating Expenses	4.24	4.76	2.38	1.27	4.16	1.65
Operating Expenses	175.84	160.57	109.66	104.96	92.3	82.78
Operating Income	55.2	46.86	39.55	21.38	35.34	35.58
Interest Expense	-2.35	-2.35	-0.14	-0.35	-1.21	-1.15
Interest & Investment Income	14.41	13.14	10.47	10.26	0.24	0.08
Currency Exchange Gain (Loss)	-1.68	-1.68	1.2	0.24	1.05	-0.72
Other Non Operating Income (Expenses)	-3.63	-0.12	0.39	0.04	-0.56	-0.3
EBT Excluding Unusual Items	61.96	55.85	51.46	31.57	34.85	33.5
Gain (Loss) on Sale of Investments	0.29	-	-0.27	-0.55	-0.63	-0.44
Gain (Loss) on Sale of Assets	0.06	0.12	0.11	-0.01	-0.37	0.01
Asset Writedown	-0.41	-	-0.24	-2.17	-0.23	-0.2
Other Unusual Items	12.29	12.29	6.52	7.74	10.11	6.04
Pretax Income	74.19	68.26	57.57	36.58	43.74	38.91
Income Tax Expense	-1.88	-0.71	4.08	0.04	2.41	3.34
Earnings From Continuing Operations	76.07	68.97	53.49	36.54	41.33	35.57
Minority Interest in Earnings	-8.42	-5.92	-0.06	-0.21	-0.22	0.38
Net Income	67.65	63.05	53.43	36.33	41.12	35.95
Net Income to Common	67.65	63.05	53.43	36.33	41.12	35.95
Net Income Growth	28.52%	18.00%	47.06%	-11.64%	14.37%	34.91%
Shares Outstanding (Basic)	89	89	88	84	66	67
Shares Outstanding (Diluted)	89	89	88	84	66	67
Shares Change (YoY)	1.76%	1.38%	3.67%	27.41%	-0.39%	0.87%
EPS (Basic)	0.76	0.71	0.61	0.43	0.62	0.54
EPS (Diluted)	0.76	0.71	0.61	0.43	0.62	0.54
EPS Growth	26.30%	16.39%	41.86%	-30.64%	14.82%	33.74%
Free Cash Flow	-137.74	-93.37	50.07	54.67	-17.37	18.86
Free Cash Flow Per Share	-1.54	-1.05	0.57	0.65	-0.26	0.28
Dividend Per Share	0.500	0.500	0.450	0.300	0.200	0.200
Dividend Growth	11.11%	11.11%	50.00%	50.00%	-	-
Gross Margin	31.47%	31.52%	32.82%	33.35%	31.59%	29.85%
Operating Margin	7.52%	7.12%	8.70%	5.64%	8.75%	8.97%
Profit Margin	9.21%	9.58%	11.75%	9.59%	10.18%	9.07%
Free Cash Flow Margin	-18.76%	-14.19%	11.01%	14.43%	-4.30%	4.76%
EBITDA	90.42	79.62	62.46	42.65	55.43	54.34
EBITDA Margin	12.32%	12.10%	13.74%	11.26%	13.72%	13.71%
D&A For EBITDA	35.22	32.76	22.91	21.27	20.09	18.76
EBIT	55.2	46.86	39.55	21.38	35.34	35.58
EBIT Margin	7.52%	7.12%	8.70%	5.64%	8.75%	8.97%
Effective Tax Rate	-	-	7.09%	0.11%	5.51%	8.58%
Revenue as Reported	658.12	658.12	454.66	378.85	404.01	396.5
Advertising Expenses	-	1.13	1.79	1.79	0.51	0.63

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