Hangzhou Fuen 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Operating Revenue	1,723	1,813	1,505	1,742
Other Revenue	10.05	-	11.91	22.25
Revenue	1,733	1,813	1,517	1,764
Revenue Growth (YoY)	-	19.51%	-14.00%	-
Cost of Revenue	1,285	1,293	1,080	1,287
Gross Profit	447.78	519.43	436.44	476.98
Selling, General & Admin	140.19	140.19	120.71	110.45
Research & Development	67.01	67.01	57.64	58.62
Other Operating Expenses	7.5	-8.4	8.26	8.65
Operating Expenses	215.52	198.8	187.14	181.4
Operating Income	232.25	320.63	249.3	295.58
Interest & Investment Income	5.98	5.98	-	-
Other Non Operating Income (Expenses)	10.21	10.18	10.14	19.59
EBT Excluding Unusual Items	248.44	336.8	259.44	315.17
Gain (Loss) on Sale of Investments	0.03	0.03	0.03	-12.45
Gain (Loss) on Sale of Assets	0.44	0.44	0.02	0.59
Asset Writedown	-0.01	-22.19	-0.08	-0.02
Other Unusual Items	16.61	-	3.18	14.07
Pretax Income	265.51	315.07	262.6	317.37
Income Tax Expense	33.73	40.24	33.35	40.79
Net Income	231.79	274.83	229.25	276.58
Net Income to Common	231.79	274.83	229.25	276.58
Net Income Growth	-	19.88%	-17.11%	-
Shares Outstanding (Basic)	175	175	146	211
Shares Outstanding (Diluted)	175	175	146	211
Shares Change (YoY)	-	19.88%	-30.84%	-
EPS (Basic)	1.32	1.57	1.57	1.31
EPS (Diluted)	1.32	1.57	1.57	1.31
EPS Growth	-	-	19.85%	-
Free Cash Flow	-	192.9	12.31	282.41
Free Cash Flow Per Share	-	1.10	0.08	1.34
Gross Margin	25.83%	28.65%	28.77%	27.04%
Operating Margin	13.40%	17.69%	16.43%	16.76%
Profit Margin	13.37%	15.16%	15.11%	15.68%
Free Cash Flow Margin	-	10.64%	0.81%	16.01%
EBITDA	270.63	360.2	288.69	336.3
EBITDA Margin	15.61%	19.87%	19.03%	19.07%
D&A For EBITDA	38.37	39.57	39.39	40.72
EBIT	232.25	320.63	249.3	295.58
EBIT Margin	13.40%	17.69%	16.43%	16.76%
Effective Tax Rate	12.70%	12.77%	12.70%	12.85%
Advertising Expenses	-	-	1.86	0.79