Sichuan Hexie Shuangma 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	1,123	1,180	1,059	1,205	1,196	1,210
Other Revenue	25.24	25.24	15.06	14.03	23.63	13.42
Revenue	1,148	1,206	1,075	1,219	1,220	1,224
Revenue Growth (YoY)	-3.25%	12.19%	-11.87%	-0.02%	-0.34%	-16.90%
Cost of Revenue	700.94	745.91	582.11	600.29	707.46	630.03
Gross Profit	447.03	459.6	492.45	619.05	512.13	593.77
Selling, General & Admin	181.82	181.08	123.37	128.32	134.63	142.21
Research & Development	69.43	65.11	19.91	21.29	46.08	33.69
Other Operating Expenses	16.7	14.55	11.95	10.73	10.39	10.29
Operating Expenses	269.73	263.12	154.78	160.34	191.1	186.19
Operating Income	177.3	196.48	337.67	458.72	321.02	407.58
Interest Expense	-25.7	-23.48	-6.49	-11.24	-10.76	-9.31
Interest & Investment Income	14.05	14.04	96.09	381.35	908.24	385.74
Currency Exchange Gain (Loss)	0.47	0.47	0.6	0.53	-0.01	0.02
Other Non Operating Income (Expenses)	-1.72	-0.21	-0.09	-0.73	-2.07	-0.37
EBT Excluding Unusual Items	164.41	187.29	427.77	828.62	1,216	783.66
Gain (Loss) on Sale of Investments	127.28	167.25	-155.64	267.39	-298.83	350.54
Gain (Loss) on Sale of Assets	0.01	0.01	0	23.55	0.02	-0.66
Asset Writedown	-0.02	-0	-	-	-	-
Other Unusual Items	-2.99	-3.7	12.91	9.97	11.55	6.87
Pretax Income	288.69	350.85	285.04	1,130	929.17	1,140
Income Tax Expense	45.93	51.65	-24.03	147.07	106.1	154.99
Earnings From Continuing Operations	242.76	299.19	309.08	982.56	823.06	985.42
Minority Interest in Earnings	-2.24	-0.91	0.3	2.91	2.06	3.32
Net Income	240.52	298.28	309.38	985.47	825.12	988.73
Net Income to Common	240.52	298.28	309.38	985.47	825.12	988.73
Net Income Growth	-42.35%	-3.59%	-68.61%	19.43%	-16.55%	11.25%
Shares Outstanding (Basic)	542	552	326	764	764	761
Shares Outstanding (Diluted)	542	552	326	764	764	761
Shares Change (YoY)	79.52%	69.61%	-57.37%	-0.01%	0.45%	-0.73%
EPS (Basic)	0.44	0.54	0.95	1.29	1.08	1.30
EPS (Diluted)	0.44	0.54	0.95	1.29	1.08	1.30
EPS Growth	-67.89%	-43.16%	-26.36%	19.44%	-16.92%	12.07%
Free Cash Flow	151.12	256.2	404.91	283.99	346.31	339.49
Free Cash Flow Per Share	0.28	0.46	1.24	0.37	0.45	0.45
Dividend Per Share	-	-	-	0.340	-	0.240
Dividend Growth	-	-	-	-	-	14.29%
Gross Margin	38.94%	38.13%	45.83%	50.77%	41.99%	48.52%
Operating Margin	15.45%	16.30%	31.42%	37.62%	26.32%	33.30%
Profit Margin	20.95%	24.74%	28.79%	80.82%	67.66%	80.79%
Free Cash Flow Margin	13.16%	21.25%	37.68%	23.29%	28.40%	27.74%
EBITDA	299.56	308.83	410.39	518.9	377.4	453.41
EBITDA Margin	26.10%	25.62%	38.19%	42.55%	30.95%	37.05%
D&A For EBITDA	122.26	112.35	72.73	60.18	56.37	45.83
EBIT	177.3	196.48	337.67	458.72	321.02	407.58
EBIT Margin	15.45%	16.30%	31.42%	37.62%	26.32%	33.30%
Effective Tax Rate	15.91%	14.72%	-	13.02%	11.42%	13.59%
Revenue as Reported	1,148	1,206	1,075	1,219	1,220	1,224
Advertising Expenses	-	3.65	0.62	1.12	1.87	1.94

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