Cangzhou Mingzhu Plastic 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	Dec '21 Dec 31, 2021
Operating Revenue	2,970	2,851	2,580	2,410	2,590	2,776
Other Revenue	-	-	168.38	208.92	244.73	113.52
Revenue	2,970	2,851	2,748	2,619	2,835	2,889
Revenue Growth (YoY)	5.41%	3.73%	4.92%	-7.61%	-1.89%	4.59%
Cost of Revenue	2,600	2,496	2,469	2,260	2,370	2,298
Gross Profit	369.66	354.88	278.99	358.81	464.25	590.92
Selling, General & Admin	144.12	144.9	146.73	155.54	152.56	166.89
Research & Development	41.12	41.45	43.03	36.31	33.09	42.83
Other Operating Expenses	5.42	4.33	21.08	25.27	28.97	-2.68
Operating Expenses	190.66	190.69	215.37	211.65	229.02	204.89
Operating Income	179	164.2	63.61	147.16	235.23	386.03
Interest Expense	-	-	-30.02	-18.52	-31.37	-34.44
Interest & Investment Income	-	-	91.89	104.76	114.56	98.95
Earnings From Equity Investments	80.44	79.53	-	-	-	-
Currency Exchange Gain (Loss)	-	-	-2.77	0.24	-2.56	2.96
Other Non Operating Income (Expenses)	-39.49	-37.74	-1.74	-1.57	-0.62	-2.91
EBT Excluding Unusual Items	219.95	205.98	120.97	232.07	315.24	450.59
Impairment of Goodwill	-	-	-	-	-	-44.12
Gain (Loss) on Sale of Investments	-0	-	-	0.07	-0.32	29.49
Gain (Loss) on Sale of Assets	-3.39	3.8	48.66	61.02	-0	-0.06
Asset Writedown	-36.73	-26.96	-13.8	-7.62	-0.86	-6.01
Other Unusual Items	-	-	20.02	32.93	30.07	0.32
Pretax Income	179.82	182.82	175.85	318.47	344.13	430.21
Income Tax Expense	30.32	29.24	21.1	41.18	49.19	69.4
Earnings From Continuing Operations	149.5	153.58	154.74	277.3	294.94	360.81
Minority Interest in Earnings	-	-	-	-4.71	-13.94	5.15
Net Income	149.5	153.58	154.74	272.59	281	365.97
Net Income to Common	149.5	153.58	154.74	272.59	281	365.97
Net Income Growth	4.42%	-0.75%	-43.23%	-2.99%	-23.22%	21.61%
Shares Outstanding (Basic)	1,656	1,660	1,664	1,663	1,524	1,408
Shares Outstanding (Diluted)	1,656	1,660	1,664	1,672	1,524	1,408
Shares Change (YoY)	-0.69%	-0.22%	-0.50%	9.74%	8.26%	-0.75%
EPS (Basic)	0.09	0.09	0.09	0.16	0.18	0.26
EPS (Diluted)	0.09	0.09	0.09	0.16	0.18	0.26
EPS Growth	5.14%	-0.54%	-42.95%	-11.61%	-29.08%	22.53%
Free Cash Flow	-876.79	-818.54	-409.13	-565.01	-484.84	145.73
Free Cash Flow Per Share	-0.53	-0.49	-0.25	-0.34	-0.32	0.10
Dividend Per Share	-	-	0.100	0.100	0.100	0.050
Dividend Growth	-	-	-	-	100.00%	-50.00%
Gross Margin	12.45%	12.45%	10.15%	13.70%	16.38%	20.45%
Operating Margin	6.03%	5.76%	2.31%	5.62%	8.30%	13.36%
Profit Margin	5.03%	5.39%	5.63%	10.41%	9.91%	12.67%
Free Cash Flow Margin	-29.52%	-28.71%	-14.89%	-21.57%	-17.10%	5.04%
EBITDA	443.5	423.88	304.02	332.79	422.49	566.4
EBITDA Margin	14.93%	14.87%	11.06%	12.71%	14.90%	19.60%
D&A For EBITDA	264.5	259.68	240.41	185.63	187.25	180.37
EBIT	179	164.2	63.61	147.16	235.23	386.03
EBIT Margin	6.03%	5.76%	2.31%	5.62%	8.30%	13.36%
Effective Tax Rate	16.86%	15.99%	12.00%	12.93%	14.29%	16.13%
Revenue as Reported	-	-	2,748	2,619	2,835	2,889
Advertising Expenses	-	-	0.58	0.37	0.18	0.52

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