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 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	431.65	401.56	314.12	243.94	211.57	154.5
Other Revenue	1.37	1.37	1.34	1.27	1.2	0.38
Revenue	433.02	402.93	315.46	245.21	212.77	154.89
Revenue Growth (YoY)	34.14%	27.73%	28.65%	15.24%	37.37%	58.58%
Cost of Revenue	127.76	122.63	101.12	78.37	55	46.85
Gross Profit	305.26	280.3	214.34	166.84	157.77	108.04
Selling, General & Admin	98.75	96.89	89.65	79.61	76.57	59.47
Research & Development	60.9	55.08	42.88	44.21	40.68	23.52
Other Operating Expenses	5.86	5.05	3.98	2.92	2.69	2.73
Operating Expenses	171.83	161.79	138.5	127.32	121.22	86.46
Operating Income	133.43	118.51	75.84	39.52	36.55	21.58
Interest Expense	-1.56	-1.4	-1.53	-1.72	-1.75	-2.17
Interest & Investment Income	17.19	17.75	17.14	16.23	16.94	1.91
Currency Exchange Gain (Loss)	-1.02	-1.02	-0.98	-0.26	-0.71	0.3
Other Non Operating Income (Expenses)	-0.33	-0.42	-0.42	-0.31	-0.37	0.02
EBT Excluding Unusual Items	147.71	133.42	90.04	53.45	50.66	21.64
Gain (Loss) on Sale of Investments	1.17	0.66	-0.09	0.26	-1.15	1.02
Gain (Loss) on Sale of Assets	-	-	-0.27	-	-	0
Asset Writedown	-0.06	-0.09	-0.05	-0.17	-0.33	-0.4
Other Unusual Items	11.29	11.29	10.81	7.41	2.09	0.7
Pretax Income	160.12	145.28	100.45	60.94	51.28	22.97
Income Tax Expense	21.17	18.06	13.98	6.79	3.08	1.35
Earnings From Continuing Operations	138.94	127.21	86.47	54.15	48.2	21.62
Minority Interest in Earnings	-0.63	-0.68	-1.31	-1.67	-1.06	-0.85
Net Income	138.31	126.54	85.16	52.49	47.14	20.77
Net Income to Common	138.31	126.54	85.16	52.49	47.14	20.77
Net Income Growth	53.97%	48.59%	62.25%	11.34%	126.92%	142.44%
Shares Outstanding (Basic)	416	412	366	367	367	311
Shares Outstanding (Diluted)	416	412	366	367	367	311
Shares Change (YoY)	11.12%	12.52%	-0.02%	-0.01%	18.05%	-
EPS (Basic)	0.33	0.31	0.23	0.14	0.13	0.07
EPS (Diluted)	0.33	0.31	0.23	0.14	0.13	0.07
EPS Growth	38.55%	32.06%	62.29%	11.35%	92.23%	-
Free Cash Flow	70.74	88.55	52.48	24.23	-20.2	-51.32
Free Cash Flow Per Share	0.17	0.21	0.14	0.07	-0.06	-0.17
Dividend Per Share	0.096	0.096	0.041	-	-	-
Dividend Growth	134.15%	134.15%	-	-	-	-
Gross Margin	70.50%	69.56%	67.94%	68.04%	74.15%	69.75%
Operating Margin	30.81%	29.41%	24.04%	16.12%	17.18%	13.93%
Profit Margin	31.94%	31.40%	27.00%	21.40%	22.16%	13.41%
Free Cash Flow Margin	16.34%	21.98%	16.63%	9.88%	-9.49%	-33.13%
EBITDA	147.15	132.19	89.37	52.43	47.35	30.84
EBITDA Margin	33.98%	32.81%	28.33%	21.38%	22.25%	19.91%
D&A For EBITDA	13.71	13.68	13.53	12.91	10.8	9.26
EBIT	133.43	118.51	75.84	39.52	36.55	21.58
EBIT Margin	30.81%	29.41%	24.04%	16.12%	17.18%	13.93%
Effective Tax Rate	13.22%	12.43%	13.92%	11.14%	6.00%	5.88%
Revenue as Reported	433.02	402.93	315.46	245.21	212.77	154.89
Advertising Expenses	-	1.84	1.64	-	-	-

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