BIWIN Storage Technology Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	11,302	6,448	3,460	2,915	2,456
Other Revenue	-	246.94	130.81	70.63	153.44
Revenue	11,302	6,695	3,591	2,986	2,609
Revenue Growth (YoY)	68.81%	86.46%	20.27%	14.44%	58.92%
Cost of Revenue	8,879	5,538	3,667	2,601	2,213
Gross Profit	2,423	1,157	-76.72	384.4	396.52
Selling, General & Admin	736.11	534.96	307.03	170.16	161.05
Research & Development	632.38	447.43	249.98	126.4	106.87
Other Operating Expenses	-32.16	-6.97	5.06	4.18	3.18
Operating Expenses	1,336	979.05	563.56	306.31	269.58
Operating Income	1,087	178.21	-640.27	78.09	126.94
Interest Expense	-	-146.04	-113.32	-29.86	-12.77
Interest & Investment Income	6.06	7.92	11.23	1.6	4.52
Currency Exchange Gain (Loss)	-	17.52	-11.69	13.97	-4.21
Other Non Operating Income (Expenses)	-209.18	-5.86	-3.02	-1.89	-0.93
EBT Excluding Unusual Items	883.86	51.74	-757.06	61.92	113.56
Gain (Loss) on Sale of Investments	58.05	93.82	3.24	-8.6	-
Gain (Loss) on Sale of Assets	0.42	0.31	-0.07	1.04	0.79
Asset Writedown	-10.56	-	-	-	-
Other Unusual Items	-	18.9	11.87	12.64	3.28
Pretax Income	931.77	164.78	-742.03	67	117.63
Income Tax Expense	92.93	29.53	-111.16	-4.21	1.06
Earnings From Continuing Operations	838.85	135.24	-630.87	71.22	116.57
Minority Interest in Earnings	14.19	25.99	6.51	-	-
Net Income	853.04	161.23	-624.36	71.22	116.57
Net Income to Common	853.04	161.23	-624.36	71.22	116.57
Net Income Growth	429.07%	-	-	-38.91%	325.69%
Shares Outstanding (Basic)	456	436	431	396	364
Shares Outstanding (Diluted)	471	436	431	396	364
Shares Change (YoY)	8.15%	1.20%	8.83%	8.61%	141.67%
EPS (Basic)	1.87	0.37	-1.45	0.18	0.32
EPS (Diluted)	1.81	0.37	-1.45	0.18	0.32
EPS Growth	389.19%	-	-	-43.75%	77.78%
Free Cash Flow	-3,486	-436.65	-2,383	-959.39	-791.69
Free Cash Flow Per Share	-7.40	-1.00	-5.53	-2.42	-2.17
Gross Margin	21.44%	17.29%	-2.14%	12.88%	15.20%
Operating Margin	9.62%	2.66%	-17.83%	2.62%	4.87%
Profit Margin	7.55%	2.41%	-17.39%	2.38%	4.47%
Free Cash Flow Margin	-30.84%	-6.52%	-66.36%	-32.13%	-30.34%
EBITDA	1,256	267.79	-577.74	119.71	151.8
EBITDA Margin	11.11%	4.00%	-16.09%	4.01%	5.82%
D&A For EBITDA	168.88	89.58	62.54	41.62	24.85
EBIT	1,087	178.21	-640.27	78.09	126.94
EBIT Margin	9.62%	2.66%	-17.83%	2.61%	4.87%
Effective Tax Rate	9.97%	17.92%	-	-	0.90%
Revenue as Reported	-	6,695	3,591	2,986	2,609
Advertising Expenses	-	54.17	39.26	20.32	18.06

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.