Jiuzhitang 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	2,381	2,214	2,363	2,937	3,016	3,758
Other Revenue	15.69	15.69	8.42	23.86	17.25	25.99
Revenue	2,397	2,229	2,371	2,961	3,033	3,784
Revenue Growth (YoY)	14.27%	-5.99%	-19.91%	-2.38%	-19.84%	6.31%
Cost of Revenue	961.12	899.55	985.07	1,175	1,258	1,560
Gross Profit	1,436	1,330	1,386	1,786	1,775	2,224
Selling, General & Admin	916.56	902.39	1,042	1,313	1,354	1,675
Research & Development	144.41	144.05	146.2	145.26	142.37	117.78
Other Operating Expenses	40.41	38.1	27.41	40.81	42.25	49.35
Operating Expenses	1,099	1,082	1,218	1,504	1,542	1,844
Operating Income	336.99	248.12	168.72	282.07	233.26	379.9
Interest Expense	-0.14	-1.04	-2.2	-3.61	-3.79	-7.05
Interest & Investment Income	34.59	34.54	53.57	42.68	191.78	3.5
Currency Exchange Gain (Loss)	-0.13	-0.13	0.11	0.16	0.9	-0.26
Other Non Operating Income (Expenses)	-0.86	-0.53	3.09	-2.97	-4.05	-3.78
EBT Excluding Unusual Items	370.46	280.97	223.28	318.33	418.11	372.31
Gain (Loss) on Sale of Investments	0.91	0.41	-	1.2	-	-54.79
Gain (Loss) on Sale of Assets	-0.32	-0.26	-0.1	-0.66	0.22	-0.56
Asset Writedown	-0.23	-0.23	-0.84	-0.01	-	-
Other Unusual Items	26.61	26.62	30.33	31.73	36.36	39.73
Pretax Income	397.41	307.5	252.67	350.59	454.69	356.69
Income Tax Expense	59.03	47.94	37.5	54.79	100.15	88.69
Earnings From Continuing Operations	338.38	259.56	215.17	295.81	354.54	268
Minority Interest in Earnings	-67.37	-36.96	1.03	1.61	3.44	2.7
Net Income	271.01	222.6	216.2	297.41	357.99	270.7
Net Income to Common	271.01	222.6	216.2	297.41	357.99	270.7
Net Income Growth	44.04%	2.96%	-27.30%	-16.92%	32.25%	-0.59%
Shares Outstanding (Basic)	846	846	850	856	856	855
Shares Outstanding (Diluted)	846	846	850	856	856	855
Shares Change (YoY)	-0.16%	-0.45%	-0.66%	-0.02%	0.15%	1.76%
EPS (Basic)	0.32	0.26	0.25	0.35	0.42	0.32
EPS (Diluted)	0.32	0.26	0.25	0.35	0.42	0.32
EPS Growth	44.27%	3.42%	-26.82%	-16.91%	32.05%	-2.31%
Free Cash Flow	448.25	386.32	126.73	35.79	402.3	158.6
Free Cash Flow Per Share	0.53	0.46	0.15	0.04	0.47	0.19
Dividend Per Share	0.300	0.300	0.300	0.400	0.400	0.400
Dividend Growth	-	-	-25.00%	-	-	-
Gross Margin	59.90%	59.65%	58.46%	60.31%	58.51%	58.77%
Operating Margin	14.06%	11.13%	7.12%	9.53%	7.69%	10.04%
Profit Margin	11.31%	9.99%	9.12%	10.04%	11.80%	7.15%
Free Cash Flow Margin	18.70%	17.33%	5.34%	1.21%	13.26%	4.19%
EBITDA	454.6	364.86	281.93	401.2	352.66	493.34
EBITDA Margin	18.97%	16.37%	11.89%	13.55%	11.63%	13.04%
D&A For EBITDA	117.62	116.73	113.21	119.13	119.39	113.44
EBIT	336.99	248.12	168.72	282.07	233.26	379.9
EBIT Margin	14.06%	11.13%	7.12%	9.53%	7.69%	10.04%
Effective Tax Rate	14.85%	15.59%	14.84%	15.63%	22.02%	24.87%
Revenue as Reported	2,397	2,229	2,371	2,961	3,033	3,784
Advertising Expenses	-	217.54	241.21	282.13	270.39	305.28

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