SWS Hemodialysis Care 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	733.41	567.1	689.96	381.89	283.1	254.27
Other Revenue	0.18	0.18	0.15	0.12	0.17	0.14
Revenue	733.59	567.27	690.11	382.01	283.28	254.41
Revenue Growth (YoY)	37.77%	-17.80%	80.65%	34.86%	11.35%	78.78%
Cost of Revenue	387.87	320.46	354.38	217.09	168.83	147.92
Gross Profit	345.72	246.81	335.73	164.93	114.44	106.49
Selling, General & Admin	185.89	157.6	132.21	97.7	80.34	75.62
Research & Development	64.84	54.24	37.67	23.13	17.74	17.12
Other Operating Expenses	-3.08	4.55	-17.35	-8.68	-4.77	-4.29
Operating Expenses	248.49	214.65	155.93	115.29	95.22	89.3
Operating Income	97.23	32.16	179.8	49.64	19.23	17.19
Interest Expense	-0.27	-0.28	-0.16	-0.8	-1.61	-2.93
Interest & Investment Income	18.4	25.56	25.72	2.61	4.8	0.51
Currency Exchange Gain (Loss)	0.93	0.93	0.68	0.74	-0.2	-0.35
Other Non Operating Income (Expenses)	-3.87	-0.58	2.67	-1.05	-0.74	-0.09
EBT Excluding Unusual Items	112.43	57.79	208.71	51.14	21.48	14.34
Gain (Loss) on Sale of Investments	8.99	9.14	10.79	0.78	-	0.03
Gain (Loss) on Sale of Assets	-0.73	-0.28	0.45	-0.34	0.04	-0.18
Asset Writedown	-6.88	-8.01	-	-	-0.05	-0.15
Other Unusual Items	9.78	9.78	-	11.77	0.59	6.98
Pretax Income	123.58	68.42	219.95	63.36	22.05	21.02
Income Tax Expense	16.4	4.42	27.74	6.46	3.91	2.68
Earnings From Continuing Operations	107.18	64	192.21	56.9	18.14	18.33
Minority Interest in Earnings	6.25	6.89	2.29	2.33	1.33	2.28
Net Income	113.43	70.89	194.5	59.24	19.47	20.62
Net Income to Common	113.43	70.89	194.5	59.24	19.47	20.62
Net Income Growth	51.60%	-63.55%	228.34%	204.20%	-5.55%	-
Shares Outstanding (Basic)	321	320	321	321	241	218
Shares Outstanding (Diluted)	321	320	321	321	241	218
Shares Change (YoY)	0.07%	-0.49%	0.03%	33.29%	10.47%	2.05%
EPS (Basic)	0.35	0.22	0.61	0.18	0.08	0.09
EPS (Diluted)	0.35	0.22	0.61	0.18	0.08	0.09
EPS Growth	51.50%	-63.37%	228.25%	128.22%	-14.50%	-
Free Cash Flow	79.01	59.97	-47.97	232.9	4.69	-41.51
Free Cash Flow Per Share	0.25	0.19	-0.15	0.72	0.02	-0.19
Dividend Per Share	0.100	0.100	0.269	-	-	-
Dividend Growth	-25.54%	-62.76%	-	-	-	-
Gross Margin	47.13%	43.51%	48.65%	43.17%	40.40%	41.86%
Operating Margin	13.25%	5.67%	26.05%	13.00%	6.79%	6.76%
Profit Margin	15.46%	12.50%	28.18%	15.51%	6.87%	8.10%
Free Cash Flow Margin	10.77%	10.57%	-6.95%	60.97%	1.65%	-16.31%
EBITDA	117.83	50.88	196.03	63.94	32.99	28.72
EBITDA Margin	16.06%	8.97%	28.41%	16.74%	11.65%	11.29%
D&A For EBITDA	20.6	18.73	16.23	14.3	13.76	11.53
EBIT	97.23	32.16	179.8	49.64	19.23	17.19
EBIT Margin	13.25%	5.67%	26.05%	13.00%	6.79%	6.76%
Effective Tax Rate	13.27%	6.46%	12.61%	10.19%	17.72%	12.77%
Revenue as Reported	733.59	567.27	690.11	382.01	283.28	254.41

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