Jiuzhitang 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	1,927	2,363	2,937	3,016	3,758	3,538
Other Revenue	8.42	8.42	23.86	17.25	25.99	21.98
Revenue	1,935	2,371	2,961	3,033	3,784	3,560
Revenue Growth (YoY)	-27.09%	-19.91%	-2.38%	-19.84%	6.31%	11.80%
Cost of Revenue	793.74	985.07	1,175	1,258	1,560	1,417
Gross Profit	1,142	1,386	1,786	1,775	2,224	2,143
Selling, General & Admin	849.85	1,042	1,313	1,354	1,675	1,570
Research & Development	142.41	146.2	145.26	142.37	117.78	113.42
Other Operating Expenses	32.19	27.41	40.81	42.25	49.35	46.11
Operating Expenses	1,029	1,218	1,504	1,542	1,844	1,729
Operating Income	112.85	168.72	282.07	233.26	379.9	413.15
Interest Expense	-1.24	-2.2	-3.61	-3.79	-7.05	-0.63
Interest & Investment Income	30.36	53.57	42.68	191.78	3.5	4.18
Currency Exchange Gain (Loss)	0.11	0.11	0.16	0.9	-0.26	-0.75
Other Non Operating Income (Expenses)	1.86	3.09	-2.97	-4.05	-3.78	-3.34
EBT Excluding Unusual Items	143.93	223.28	318.33	418.11	372.31	412.62
Gain (Loss) on Sale of Investments	-0.35	-	1.2	-	-54.79	-88.35
Gain (Loss) on Sale of Assets	-0.1	-0.1	-0.66	0.22	-0.56	-0.81
Asset Writedown	-0.1	-0.84	-0.01	-	-	-
Other Unusual Items	30.75	30.33	31.73	36.36	39.73	27.92
Pretax Income	174.14	252.67	350.59	454.69	356.69	351.37
Income Tax Expense	32.65	37.5	54.79	100.15	88.69	81.63
Earnings From Continuing Operations	141.49	215.17	295.81	354.54	268	269.75
Minority Interest in Earnings	-14.06	1.03	1.61	3.44	2.7	2.56
Net Income	127.43	216.2	297.41	357.99	270.7	272.31
Net Income to Common	127.43	216.2	297.41	357.99	270.7	272.31
Net Income Growth	-48.82%	-27.30%	-16.92%	32.25%	-0.59%	41.72%
Shares Outstanding (Basic)	847	850	856	856	855	840
Shares Outstanding (Diluted)	847	850	856	856	855	840
Shares Change (YoY)	-0.59%	-0.66%	-0.02%	0.15%	1.76%	-0.29%
EPS (Basic)	0.15	0.25	0.35	0.42	0.32	0.32
EPS (Diluted)	0.15	0.25	0.35	0.42	0.32	0.32
EPS Growth	-48.51%	-26.82%	-16.91%	32.05%	-2.31%	42.13%
Free Cash Flow	531.06	126.73	35.79	402.3	158.6	528.65
Free Cash Flow Per Share	0.63	0.15	0.04	0.47	0.19	0.63
Dividend Per Share	0.300	0.300	0.400	0.400	0.400	0.400
Dividend Growth	-25.00%	-25.00%	-	-	-	-
Gross Margin	58.99%	58.46%	60.31%	58.51%	58.77%	60.19%
Operating Margin	5.83%	7.12%	9.53%	7.69%	10.04%	11.61%
Profit Margin	6.59%	9.12%	10.04%	11.80%	7.15%	7.65%
Free Cash Flow Margin	27.44%	5.34%	1.21%	13.26%	4.19%	14.85%
EBITDA	218.42	280.09	401.2	352.66	493.34	521.05
EBITDA Margin	11.29%	11.81%	13.55%	11.63%	13.04%	14.64%
D&A For EBITDA	105.56	111.38	119.13	119.39	113.44	107.89
EBIT	112.85	168.72	282.07	233.26	379.9	413.15
EBIT Margin	5.83%	7.12%	9.53%	7.69%	10.04%	11.61%
Effective Tax Rate	18.75%	14.84%	15.63%	22.02%	24.87%	23.23%
Revenue as Reported	1,935	2,371	2,961	3,033	3,784	3,560
Advertising Expenses	-	241.21	282.13	270.39	305.28	301.17

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