Shenzhen Zhongheng Huafa 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Operating Revenue	798.35	857.89	769.16	674.26	604.68	683.79
Other Revenue	-	-	47.52	52.29	59.75	81.82
Revenue	798.35	857.89	816.68	726.54	664.44	765.61
Revenue Growth (YoY)	-1.39%	5.05%	12.41%	9.35%	-13.21%	10.68%
Cost of Revenue	704.32	762.95	727.5	659.08	600.09	687.58
Gross Profit	94.03	94.94	89.18	67.46	64.34	78.03
Selling, General & Admin	26.19	31.47	30.03	32.01	38.97	46.7
Research & Development	18.45	18.73	11.65	10.09	8.82	10.79
Other Operating Expenses	3.3	0.11	3.55	3.69	3.62	3.36
Operating Expenses	47.93	50.31	50	45.89	51.39	60.88
Operating Income	46.1	44.63	39.19	21.57	12.96	17.15
Interest Expense	-	-	-	-1	-5.19	-7.87
Interest & Investment Income	0.33	0.2	1.63	1.38	0.93	0.54
Currency Exchange Gain (Loss)	-	-	1.65	-0.08	2.39	0.02
Other Non Operating Income (Expenses)	-0.42	1.99	-1.05	0.27	-0.75	0.81
EBT Excluding Unusual Items	46	46.82	41.42	22.14	10.33	10.65
Gain (Loss) on Sale of Assets	-	-	-1.45	-4.96	0.59	0.01
Asset Writedown	-2.13	-2.13	-	-	-1.02	-
Other Unusual Items	-	-	0.54	1.25	5.41	1.29
Pretax Income	43.87	44.69	40.52	18.43	15.32	11.95
Income Tax Expense	9.15	9.25	3.78	5.09	5.19	4.75
Net Income	34.72	35.44	36.74	13.34	10.13	7.2
Net Income to Common	34.72	35.44	36.74	13.34	10.13	7.2
Net Income Growth	-6.86%	-3.53%	175.35%	31.74%	40.63%	5.44%
Shares Outstanding (Basic)	283	283	283	283	283	284
Shares Outstanding (Diluted)	283	283	283	283	283	284
Shares Change (YoY)	-0.12%	-0.06%	-0.01%	0.13%	-0.23%	0.05%
EPS (Basic)	0.12	0.13	0.13	0.05	0.04	0.03
EPS (Diluted)	0.12	0.13	0.13	0.05	0.04	0.03
EPS Growth	-6.74%	-3.47%	175.37%	31.56%	40.95%	5.39%
Free Cash Flow	51.53	3.77	92.64	113.53	79.27	-18.91
Free Cash Flow Per Share	0.18	0.01	0.33	0.40	0.28	-0.07
Gross Margin	11.78%	11.07%	10.92%	9.29%	9.68%	10.19%
Operating Margin	5.77%	5.20%	4.80%	2.97%	1.95%	2.24%
Profit Margin	4.35%	4.13%	4.50%	1.84%	1.52%	0.94%
Free Cash Flow Margin	6.45%	0.44%	11.34%	15.63%	11.93%	-2.47%
EBITDA	56.38	53.99	44.84	32.36	32.93	30.71
EBITDA Margin	7.06%	6.29%	5.49%	4.45%	4.96%	4.01%
D&A For EBITDA	10.28	9.36	5.65	10.79	19.97	13.56
EBIT	46.1	44.63	39.19	21.57	12.96	17.15
EBIT Margin	5.77%	5.20%	4.80%	2.97%	1.95%	2.24%
Effective Tax Rate	20.86%	20.70%	9.33%	27.61%	33.88%	39.74%
Revenue as Reported	-	-	816.68	726.54	664.44	765.61

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.