Suzhou Sepax Technologies 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	398.01	314.12	243.94	211.57	154.5	97.49
Other Revenue	1.34	1.34	1.27	1.2	0.38	0.18
Revenue	399.35	315.46	245.21	212.77	154.89	97.67
Revenue Growth (YoY)	45.75%	28.65%	15.24%	37.37%	58.58%	32.47%
Cost of Revenue	126.38	101.12	78.37	55	46.85	30.9
Gross Profit	272.97	214.34	166.84	157.77	108.04	66.77
Selling, General & Admin	102.22	89.65	79.61	76.57	59.47	36.91
Research & Development	49.75	42.88	44.21	40.68	23.52	21.33
Other Operating Expenses	-3.39	3.98	2.92	2.69	2.73	1.49
Operating Expenses	155.88	138.5	127.32	121.22	86.46	60.19
Operating Income	117.09	75.84	39.52	36.55	21.58	6.58
Interest Expense	-1.42	-1.53	-1.72	-1.75	-2.17	-3.26
Interest & Investment Income	18.05	17.14	16.23	16.94	1.91	0.58
Currency Exchange Gain (Loss)	-0.98	-0.98	-0.26	-0.71	0.3	-
Other Non Operating Income (Expenses)	-1.15	-0.42	-0.31	-0.37	0.02	1.98
EBT Excluding Unusual Items	131.6	90.04	53.45	50.66	21.64	5.89
Gain (Loss) on Sale of Investments	0.13	-0.09	0.26	-1.15	1.02	0.1
Gain (Loss) on Sale of Assets	-0.27	-0.27	-	-	0	-
Asset Writedown	1.17	-0.05	-0.17	-0.33	-0.4	-
Other Unusual Items	10.81	10.81	7.41	2.09	0.7	4.35
Pretax Income	143.44	100.45	60.94	51.28	22.97	10.34
Income Tax Expense	18.88	13.98	6.79	3.08	1.35	0.95
Earnings From Continuing Operations	124.55	86.47	54.15	48.2	21.62	9.39
Minority Interest in Earnings	-0.67	-1.31	-1.67	-1.06	-0.85	-0.82
Net Income	123.88	85.16	52.49	47.14	20.77	8.57
Net Income to Common	123.88	85.16	52.49	47.14	20.77	8.57
Net Income Growth	90.01%	62.25%	11.34%	126.92%	142.44%	-
Shares Outstanding (Basic)	400	366	367	367	311	-
Shares Outstanding (Diluted)	400	366	367	367	311	-
Shares Change (YoY)	10.76%	-0.02%	-0.01%	18.05%	-	-
EPS (Basic)	0.31	0.23	0.14	0.13	0.07	-
EPS (Diluted)	0.31	0.23	0.14	0.13	0.07	-
EPS Growth	71.55%	62.29%	11.35%	92.23%	-	-
Free Cash Flow	48.08	52.48	24.23	-20.2	-51.32	-49.38
Free Cash Flow Per Share	0.12	0.14	0.07	-0.06	-0.17	-
Dividend Per Share	0.067	0.041	-	-	-	-
Gross Margin	68.35%	67.94%	68.04%	74.15%	69.75%	68.36%
Operating Margin	29.32%	24.04%	16.12%	17.18%	13.93%	6.74%
Profit Margin	31.02%	27.00%	21.40%	22.16%	13.41%	8.77%
Free Cash Flow Margin	12.04%	16.63%	9.88%	-9.49%	-33.13%	-50.56%
EBITDA	130.4	89.02	52.43	47.35	30.84	12.25
EBITDA Margin	32.65%	28.22%	21.38%	22.25%	19.91%	12.54%
D&A For EBITDA	13.31	13.18	12.91	10.8	9.26	5.67
EBIT	117.09	75.84	39.52	36.55	21.58	6.58
EBIT Margin	29.32%	24.04%	16.12%	17.18%	13.93%	6.74%
Effective Tax Rate	13.16%	13.92%	11.14%	6.00%	5.88%	9.20%
Revenue as Reported	399.35	315.46	245.21	212.77	154.89	97.67
Advertising Expenses	-	-	-	-	-	0.16

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