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	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	498.67	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	500.04	402.93	315.46	245.21	212.77	154.89
Revenue Growth	44.69%	27.73%	28.65%	15.24%	37.37%	58.58%
Cost of Revenue	137.97	122.63	101.12	78.37	55	46.85
Gross Profit	362.06	280.3	214.34	166.84	157.77	108.04
Selling, General & Admin	94.48	96.89	89.65	79.61	76.57	59.47
Research & Development	67.1	55.08	42.88	44.21	40.68	23.52
Other Operating Expenses	14.48	5.05	3.98	2.92	2.69	2.73
Operating Expenses	180.82	161.79	138.5	127.32	121.22	86.46
Operating Income	181.24	118.51	75.84	39.52	36.55	21.58
Interest Expense	-1.4	-1.4	-1.53	-1.72	-1.75	-2.17
Interest & Investment Income	20.21	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)	-4.78	-0.42	-0.42	-0.31	-0.37	0.02
EBT Excluding Unusual Items	194.25	133.42	90.04	53.45	50.66	21.64
Gain (Loss) on Sale of Investments	1.33	0.66	-0.09	0.26	-1.15	1.02
Gain (Loss) on Sale of Assets	-	-	-0.27	-	-	0
Asset Writedown	1.89	-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	208.75	145.28	100.45	60.94	51.28	22.97
Income Tax Expense	24.49	18.06	13.98	6.79	3.08	1.35
Earnings From Continuing Operations	184.26	127.21	86.47	54.15	48.2	21.62
Minority Interest in Earnings	-0.74	-0.68	-1.31	-1.67	-1.06	-0.85
Net Income	183.52	126.54	85.16	52.49	47.14	20.77
Net Income to Common	183.52	126.54	85.16	52.49	47.14	20.77
Net Income Growth	82.17%	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	7.32%	12.52%	-0.02%	-0.01%	18.05%	-
EPS (Basic)	0.44	0.31	0.23	0.14	0.13	0.07
EPS (Diluted)	0.44	0.31	0.23	0.14	0.13	0.07
EPS Growth	69.75%	32.06%	62.29%	11.35%	92.23%	-

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	112.21	88.55	52.48	24.23	-20.2	-51.32
Free Cash Flow Per Share	0.27	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	72.41%	69.56%	67.94%	68.04%	74.15%	69.75%
Operating Margin	36.24%	29.41%	24.04%	16.12%	17.18%	13.93%
Profit Margin	36.70%	31.40%	27.00%	21.40%	22.16%	13.41%
Free Cash Flow Margin	22.44%	21.98%	16.63%	9.88%	-9.49%	-33.13%
EBITDA	195.11	132.19	89.37	52.43	47.35	30.84
EBITDA Margin	39.02%	32.81%	28.33%	21.38%	22.25%	19.91%
D&A For EBITDA	13.87	13.68	13.53	12.91	10.8	9.26
EBIT	181.24	118.51	75.84	39.52	36.55	21.58
EBIT Margin	36.24%	29.41%	24.04%	16.12%	17.18%	13.93%
Effective Tax Rate	11.73%	12.43%	13.92%	11.14%	6.00%	5.88%
Revenue as Reported	402.93	402.93	315.46	245.21	212.77	154.89
Advertising Expenses	-	1.84	1.64	-	-	-