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	Jun '26 Jun 30, 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	801.23	644.16	449.03	371.63	392.48	383.98
Other Revenue	11.35	13.96	5.64	7.22	11.52	12.52
Revenue	812.58	658.12	454.66	378.85	404.01	396.5
Revenue Growth	58.74%	44.75%	20.01%	-6.23%	1.89%	18.59%
Cost of Revenue	559.33	450.69	305.46	252.51	276.37	278.14
Gross Profit	253.25	207.43	149.21	126.34	127.64	118.35
Selling, General & Admin	102.6	83.72	59	62.39	48.87	46.54
Research & Development	85.71	72.33	48.6	40.52	40.68	33.14
Other Operating Expenses	9.11	4.76	2.38	1.27	4.16	1.65
Operating Expenses	198.28	160.57	109.66	104.96	92.3	82.78
Operating Income	54.97	46.86	39.55	21.38	35.34	35.58
Interest Expense	-5.02	-2.35	-0.14	-0.35	-1.21	-1.15
Interest & Investment Income	15.4	13.14	10.47	10.26	0.24	0.08
Currency Exchange Gain (Loss)	-2.2	-1.68	1.2	0.24	1.05	-0.72
Other Non Operating Income (Expenses)	0.16	-0.12	0.39	0.04	-0.56	-0.3
EBT Excluding Unusual Items	63.31	55.85	51.46	31.57	34.85	33.5
Gain (Loss) on Sale of Investments	0.68	-	-0.27	-0.55	-0.63	-0.44
Gain (Loss) on Sale of Assets	-0	0.12	0.11	-0.01	-0.37	0.01
Asset Writedown	-	-	-0.24	-2.17	-0.23	-0.2
Other Unusual Items	19.73	12.29	6.52	7.74	10.11	6.04
Pretax Income	83.72	68.26	57.57	36.58	43.74	38.91
Income Tax Expense	-2.78	-0.71	4.08	0.04	2.41	3.34
Earnings From Continuing Operations	86.5	68.97	53.49	36.54	41.33	35.57
Minority Interest in Earnings	-12.2	-5.92	-0.06	-0.21	-0.22	0.38
Net Income	74.3	63.05	53.43	36.33	41.12	35.95
Net Income to Common	74.3	63.05	53.43	36.33	41.12	35.95
Net Income Growth	38.55%	18.00%	47.06%	-11.64%	14.37%	34.91%
Shares Outstanding (Basic)	125	124	123	118	93	93
Shares Outstanding (Diluted)	127	124	123	118	93	93
Shares Change	5.24%	1.38%	3.66%	27.44%	-0.40%	0.88%
EPS (Basic)	0.59	0.51	0.44	0.31	0.44	0.39
EPS (Diluted)	0.58	0.51	0.44	0.31	0.44	0.39
EPS Growth	31.65%	16.39%	41.88%	-30.66%	14.83%	33.74%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	-148.51	-93.37	50.07	54.67	-17.37	18.86
Free Cash Flow Per Share	-1.17	-0.75	0.41	0.46	-0.19	0.20
Dividend Per Share	0.286	0.357	0.321	0.214	0.143	0.143
Dividend Growth	-11.11%	11.11%	49.98%	49.96%	0%	-
Gross Margin	31.17%	31.52%	32.82%	33.35%	31.59%	29.85%
Operating Margin	6.76%	7.12%	8.70%	5.64%	8.75%	8.97%
Profit Margin	9.14%	9.58%	11.75%	9.59%	10.18%	9.07%
Free Cash Flow Margin	-18.28%	-14.19%	11.01%	14.43%	-4.30%	4.76%
EBITDA	100.97	79.62	62.46	42.65	55.43	54.34
EBITDA Margin	12.43%	12.10%	13.74%	11.26%	13.72%	13.71%
D&A For EBITDA	46.01	32.76	22.91	21.27	20.09	18.76
EBIT	54.97	46.86	39.55	21.38	35.34	35.58
EBIT Margin	6.76%	7.12%	8.70%	5.64%	8.75%	8.97%
Effective Tax Rate	-	-	7.09%	0.11%	5.51%	8.58%
Revenue as Reported	812.58	658.12	454.66	378.85	404.01	396.5
Advertising Expenses	-	1.13	1.79	1.79	0.51	0.63