Jiangxi Sunshine Dairy 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	490.02	519.4	569.93	569.59	629.17	522.56
Other Revenue	0.01	0.01	-	0.01	1.45	0.02
Revenue	490.03	519.42	569.93	569.6	630.62	522.57
Revenue Growth (YoY)	-8.08%	-8.86%	0.06%	-9.68%	20.68%	-3.76%
Cost of Revenue	294.96	324.06	364.52	375.43	392.26	334.53
Gross Profit	195.07	195.36	205.41	194.17	238.36	188.04
Selling, General & Admin	71.97	70.57	76.05	75.43	72.13	56.48
Research & Development	15.27	15.95	18.44	19.15	18.38	17.57
Other Operating Expenses	5.28	3.17	5.7	2.17	5.58	3.6
Operating Expenses	94.05	90.48	100.41	96.37	96.2	78.49
Operating Income	101.02	104.88	105	97.81	142.16	109.55
Interest Expense	-0.11	-0.11	-0.05	-1.3	-3.59	-3.97
Interest & Investment Income	17.42	18.9	19.08	13.36	4.24	6.97
Other Non Operating Income (Expenses)	4.32	0.23	-3.24	8.86	-0.21	0.11
EBT Excluding Unusual Items	122.65	123.91	120.79	118.72	142.6	112.67
Gain (Loss) on Sale of Assets	0	-	0.48	-0.01	-0	0.02
Asset Writedown	-7.18	-7.3	-5.43	-1.7	-2.03	-1.33
Legal Settlements	-0.39	-0.39	-	-	-	-
Other Unusual Items	5.77	3.1	5.45	-	4.41	-0.29
Pretax Income	120.85	119.32	121.29	117.02	144.97	111.06
Income Tax Expense	5.97	5.87	8.02	8.69	10.96	7.84
Earnings From Continuing Operations	114.88	113.45	113.27	108.32	134.01	103.22
Minority Interest in Earnings	1.6	1.12	2.55	2.57	1.69	1.72
Net Income	116.48	114.56	115.82	110.89	135.7	104.93
Net Income to Common	116.48	114.56	115.82	110.89	135.7	104.93
Net Income Growth	9.34%	-1.09%	4.45%	-18.29%	29.32%	0.62%
Shares Outstanding (Basic)	283	283	283	253	212	210
Shares Outstanding (Diluted)	283	283	283	253	212	210
Shares Change (YoY)	0.00%	0.01%	11.61%	19.46%	1.00%	0.62%
EPS (Basic)	0.41	0.41	0.41	0.44	0.64	0.50
EPS (Diluted)	0.41	0.41	0.41	0.44	0.64	0.50
EPS Growth	9.34%	-1.10%	-6.42%	-31.60%	28.04%	-
Free Cash Flow	133.15	105.45	133.22	108.57	130.15	26.3
Free Cash Flow Per Share	0.47	0.37	0.47	0.43	0.61	0.13
Dividend Per Share	0.180	0.180	0.160	0.150	-	-
Dividend Growth	12.50%	12.50%	6.67%	-	-	-
Gross Margin	39.81%	37.61%	36.04%	34.09%	37.80%	35.98%
Operating Margin	20.61%	20.19%	18.42%	17.17%	22.54%	20.96%
Profit Margin	23.77%	22.06%	20.32%	19.47%	21.52%	20.08%
Free Cash Flow Margin	27.17%	20.30%	23.37%	19.06%	20.64%	5.03%
EBITDA	130.9	135.01	135.44	125.87	168.37	127.06
EBITDA Margin	26.71%	25.99%	23.77%	22.10%	26.70%	24.31%
D&A For EBITDA	29.88	30.12	30.45	28.06	26.21	17.51
EBIT	101.02	104.88	105	97.81	142.16	109.55
EBIT Margin	20.61%	20.19%	18.42%	17.17%	22.54%	20.96%
Effective Tax Rate	4.94%	4.92%	6.61%	7.43%	7.56%	7.06%
Revenue as Reported	490.03	519.42	569.93	569.6	630.62	-
Advertising Expenses	-	8.95	9.24	7.12	6.56	4.42

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