Shenzhen Topband 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	10,888	10,400	8,935	8,836	7,718	5,510
Other Revenue	101.48	101.48	57.47	38.71	49.06	50.52
Revenue	10,989	10,501	8,992	8,875	7,767	5,560
Revenue Growth (YoY)	6.38%	16.78%	1.32%	14.27%	39.69%	35.65%
Cost of Revenue	8,684	8,169	7,060	7,159	6,217	4,271
Gross Profit	2,306	2,332	1,933	1,716	1,550	1,289
Selling, General & Admin	883.44	775.66	755.98	627.8	465.68	316.55
Research & Development	919.28	809.01	689.97	592.35	448.68	315.67
Other Operating Expenses	14.57	31.28	22.92	53.43	19.3	-13.58
Operating Expenses	1,825	1,634	1,472	1,321	1,019	607.99
Operating Income	480.82	697.96	460.64	395.46	530.75	680.88
Interest Expense	-33.67	-47.19	-38.09	-35.26	-24.68	-41.61
Interest & Investment Income	38.18	40.92	36.59	23.53	63.55	266.04
Currency Exchange Gain (Loss)	66.33	66.33	55.44	138.43	-44.68	-98.52
Other Non Operating Income (Expenses)	36.49	-8.65	-8.89	-6.74	-6.04	-45.05
EBT Excluding Unusual Items	588.16	749.36	505.69	515.42	518.9	761.74
Impairment of Goodwill	-1.96	-1.96	-	-	-	-34.53
Gain (Loss) on Sale of Investments	-5.95	-5.95	1.3	87.82	85.67	-105.56
Gain (Loss) on Sale of Assets	1.23	-2.69	-1.43	-1.61	-0.4	-0.93
Asset Writedown	-3.2	-9.58	-9.97	-1.53	-0.37	-1.23
Other Unusual Items	44.3	45.65	33.09	33.19	16.45	-
Pretax Income	622.57	774.82	528.68	633.28	620.24	619.48
Income Tax Expense	83.3	102.94	16.74	51.08	48.13	72.9
Earnings From Continuing Operations	539.27	671.88	511.95	582.2	572.11	546.58
Minority Interest in Earnings	0.41	-0.44	3.57	0.8	-7.15	-14.42
Net Income	539.68	671.44	515.51	583	564.96	532.16
Net Income to Common	539.68	671.44	515.51	583	564.96	532.16
Net Income Growth	-21.94%	30.25%	-11.58%	3.19%	6.16%	60.86%
Shares Outstanding (Basic)	1,207	1,221	1,257	1,267	1,202	1,043
Shares Outstanding (Diluted)	1,207	1,221	1,257	1,267	1,202	1,043
Shares Change (YoY)	-4.03%	-2.91%	-0.79%	5.44%	15.20%	0.93%
EPS (Basic)	0.45	0.55	0.41	0.46	0.47	0.51
EPS (Diluted)	0.45	0.55	0.41	0.46	0.47	0.51
EPS Growth	-18.66%	34.15%	-10.87%	-2.13%	-7.84%	59.38%
Free Cash Flow	99.39	343.87	669.03	-243.62	-1,079	74.11
Free Cash Flow Per Share	0.08	0.28	0.53	-0.19	-0.90	0.07
Dividend Per Share	0.070	0.070	0.060	0.060	0.050	0.050
Dividend Growth	16.67%	16.67%	-	20.00%	-	-
Gross Margin	20.98%	22.20%	21.49%	19.34%	19.96%	23.18%
Operating Margin	4.38%	6.65%	5.12%	4.46%	6.83%	12.25%
Profit Margin	4.91%	6.39%	5.73%	6.57%	7.27%	9.57%
Free Cash Flow Margin	0.90%	3.28%	7.44%	-2.74%	-13.89%	1.33%
EBITDA	829.16	1,015	736.33	626.97	702.36	815.76
EBITDA Margin	7.54%	9.67%	8.19%	7.06%	9.04%	14.67%
D&A For EBITDA	348.33	317.2	275.69	231.52	171.6	134.88
EBIT	480.82	697.96	460.64	395.46	530.75	680.88
EBIT Margin	4.38%	6.65%	5.12%	4.46%	6.83%	12.25%
Effective Tax Rate	13.38%	13.29%	3.17%	8.07%	7.76%	11.77%
Revenue as Reported	10,989	10,501	8,992	8,875	7,767	5,560
Advertising Expenses	-	19.55	11.94	7.56	4.57	0.59

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