Dalian Friendship (Group) Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Operating Revenue	420.97	349.08	141.59	135.97	161.84
Other Revenue	-	23.16	21.75	13.49	14.49
Revenue	420.97	372.25	163.34	149.46	176.33
Revenue Growth (YoY)	13.09%	127.90%	9.28%	-15.24%	0.32%
Cost of Revenue	346.23	319.14	119.63	116.79	131.55
Gross Profit	74.74	53.11	43.7	32.67	44.79
Selling, General & Admin	114.1	70.17	56.17	62.18	76
Other Operating Expenses	13.42	7.94	-12.98	8.09	8.56
Operating Expenses	127.52	81.43	43.64	70.26	86.17
Operating Income	-52.77	-28.32	0.06	-37.59	-41.38
Interest Expense	-	-29.92	-26.91	-26.25	-26.88
Interest & Investment Income	-	1.31	2.21	2.34	3.27
Currency Exchange Gain (Loss)	-	-0.05	-	-	-
Other Non Operating Income (Expenses)	-52.34	-3.2	-2.61	1.54	-3.22
EBT Excluding Unusual Items	-105.11	-60.18	-27.25	-59.96	-68.22
Gain (Loss) on Sale of Assets	-	0.69	-	-	-
Asset Writedown	-8.45	-8.49	-8.3	0.12	-227.82
Other Unusual Items	-	-29.16	-7.07	0.08	0.45
Pretax Income	-113.56	-97.13	-42.61	-59.76	-295.6
Income Tax Expense	-	0.35	2.74	0.04	0.04
Earnings From Continuing Operations	-113.56	-97.48	-45.35	-59.8	-295.64
Minority Interest in Earnings	16.24	19.84	8.18	9.63	79.73
Net Income	-97.32	-77.64	-37.17	-50.16	-215.91
Net Income to Common	-97.32	-77.64	-37.17	-50.16	-215.91
Shares Outstanding (Basic)	360	353	372	358	354
Shares Outstanding (Diluted)	360	353	372	358	354
Shares Change (YoY)	2.14%	-5.05%	3.73%	1.23%	-3.83%
EPS (Basic)	-0.27	-0.22	-0.10	-0.14	-0.61
EPS (Diluted)	-0.27	-0.22	-0.10	-0.14	-0.61
Free Cash Flow	-174.3	-97.41	-6.3	-43.45	-19.01
Free Cash Flow Per Share	-0.48	-0.28	-0.02	-0.12	-0.05
Gross Margin	17.76%	14.27%	26.76%	21.86%	25.40%
Operating Margin	-12.54%	-7.61%	0.03%	-25.15%	-23.47%
Profit Margin	-23.12%	-20.86%	-22.75%	-33.56%	-122.44%
Free Cash Flow Margin	-41.40%	-26.17%	-3.85%	-29.07%	-10.78%
EBITDA	-38.01	-12.87	16.28	-18.65	-21.76
EBITDA Margin	-9.03%	-3.46%	9.96%	-12.48%	-12.34%
D&A For EBITDA	14.77	15.45	16.22	18.94	19.62
EBIT	-52.77	-28.32	0.06	-37.59	-41.38
EBIT Margin	-12.54%	-7.61%	0.03%	-25.15%	-23.47%
Revenue as Reported	-	372.25	163.34	149.46	176.33
Advertising Expenses	-	1.74	2.76	5.29	6.55

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