Luzhou Laojiao Co.,Ltd 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Operating Revenue	29,566	30,742	29,832	24,766	20,415	16,448
Other Revenue	453.77	453.77	400.87	357.44	227.09	204.89
Revenue	30,020	31,196	30,233	25,124	20,642	16,653
Revenue Growth (YoY)	-7.90%	3.19%	20.34%	21.71%	23.96%	5.29%
Cost of Revenue	4,058	3,888	3,537	3,370	2,952	2,823
Gross Profit	25,963	27,308	26,696	21,754	17,690	13,829
Selling, General & Admin	4,474	4,639	5,114	4,611	4,655	3,935
Research & Development	245.56	260.98	225.96	206.25	137.71	85.86
Other Operating Expenses	4,838	4,751	4,131	3,522	2,864	2,223
Operating Expenses	9,558	9,651	9,472	8,340	7,657	6,243
Operating Income	16,405	17,657	17,224	13,414	10,033	7,586
Interest Expense	-61.13	-304.31	-488	-229.67	-197.08	-190.37
Interest & Investment Income	711	797.92	948.73	610.46	622.1	534.93
Currency Exchange Gain (Loss)	3.17	3.17	2.2	16.07	-3.65	-8.94
Other Non Operating Income (Expenses)	2.87	-7.33	-5.16	-6.69	78.85	-2.2
EBT Excluding Unusual Items	17,061	18,147	17,682	13,804	10,533	7,920
Gain (Loss) on Sale of Investments	10.02	17.65	62.99	-12.02	6.35	-
Gain (Loss) on Sale of Assets	-0.58	1.06	44.69	19.81	-0.35	8.12
Asset Writedown	-13.33	-13.33	1.35	-10.78	-0.81	-4.04
Other Unusual Items	55.7	53	14.72	53.58	12.32	15.16
Pretax Income	17,113	18,205	17,806	13,855	10,551	7,939
Income Tax Expense	4,428	4,708	4,517	3,444	2,614	1,981
Earnings From Continuing Operations	12,685	13,498	13,289	10,411	7,937	5,959
Minority Interest in Earnings	-42.69	-24.79	-42.27	-45.21	18.29	47.21
Net Income	12,642	13,473	13,246	10,365	7,956	6,006
Net Income to Common	12,642	13,473	13,246	10,365	7,956	6,006
Net Income Growth	-11.43%	1.71%	27.79%	30.29%	32.47%	29.38%
Shares Outstanding (Basic)	1,470	1,468	1,469	1,468	1,465	1,465
Shares Outstanding (Diluted)	1,470	1,468	1,469	1,468	1,465	1,465
Shares Change (YoY)	0.10%	-0.06%	0.03%	0.21%	0.02%	0.03%
EPS (Basic)	8.60	9.18	9.02	7.06	5.43	4.10
EPS (Diluted)	8.60	9.18	9.02	7.06	5.43	4.10
EPS Growth	-11.52%	1.77%	27.76%	30.02%	32.44%	29.34%
Free Cash Flow	14,826	17,993	9,147	7,227	5,719	2,772
Free Cash Flow Per Share	10.09	12.26	6.23	4.92	3.90	1.89
Dividend Per Share	5.950	5.950	5.400	4.225	3.244	2.051
Dividend Growth	-11.96%	10.18%	27.81%	30.24%	58.17%	28.99%
Gross Margin	86.48%	87.54%	88.30%	86.59%	85.70%	83.05%
Operating Margin	54.65%	56.60%	56.97%	53.39%	48.60%	45.56%
Profit Margin	42.11%	43.19%	43.81%	41.26%	38.54%	36.06%
Free Cash Flow Margin	49.39%	57.68%	30.25%	28.77%	27.71%	16.65%
EBITDA	17,241	18,421	17,892	14,042	10,584	7,895
EBITDA Margin	57.43%	59.05%	59.18%	55.89%	51.28%	47.41%
D&A For EBITDA	835.89	763.56	667.13	628.22	551.03	308.24
EBIT	16,405	17,657	17,224	13,414	10,033	7,586
EBIT Margin	54.65%	56.60%	56.97%	53.39%	48.60%	45.56%
Effective Tax Rate	25.87%	25.86%	25.37%	24.86%	24.77%	24.95%
Revenue as Reported	30,020	31,196	30,233	25,124	20,642	16,653
Advertising Expenses	-	2,658	3,094	2,593	2,908	2,391

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.