Baoxiniao Holding 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	4,963	5,019	5,109	4,233	4,326	3,691
Other Revenue	134.37	134.37	144.72	79.75	125.03	96.98
Revenue	5,097	5,153	5,254	4,313	4,451	3,788
Revenue Growth (YoY)	-0.49%	-1.91%	21.82%	-3.11%	17.52%	15.74%
Cost of Revenue	1,884	1,897	1,917	1,682	1,648	1,433
Gross Profit	3,213	3,256	3,337	2,631	2,803	2,355
Selling, General & Admin	2,694	2,509	2,402	1,990	2,093	1,764
Research & Development	79.66	92.73	108.57	83.3	75.53	59.58
Other Operating Expenses	31.93	45.51	47.21	36.69	43.97	35.72
Operating Expenses	2,807	2,654	2,567	2,120	2,225	1,868
Operating Income	405.61	601.81	769.89	511.57	578.38	486.29
Interest Expense	-14.13	-16.52	-13.35	-10.18	-10.39	-8.6
Interest & Investment Income	69.49	65.56	91.6	60.09	37	36.28
Currency Exchange Gain (Loss)	0.34	0.34	0.39	2.34	1.66	-1.16
Other Non Operating Income (Expenses)	-23.98	-11.83	-10.63	-10.62	-6.55	-9.24
EBT Excluding Unusual Items	437.32	639.36	837.91	553.2	600.1	503.56
Impairment of Goodwill	-17.74	-17.74	-	-	-	-
Gain (Loss) on Sale of Investments	-10.52	-14.4	-9.08	-18.73	-7.84	-8.77
Gain (Loss) on Sale of Assets	-0.23	-0.12	-0.33	1.16	0.87	0.86
Asset Writedown	-56.32	-26.96	-52.59	-61.5	-41.13	-46.05
Other Unusual Items	107.65	107.65	122.63	132.65	63.82	63.21
Pretax Income	460.16	687.78	898.54	606.77	615.83	512.81
Income Tax Expense	128.22	167.63	169.64	130.72	136.41	122.75
Earnings From Continuing Operations	331.94	520.15	728.89	476.05	479.42	390.05
Minority Interest in Earnings	-16.28	-25.19	-31.04	-17.27	-15.06	-23.56
Net Income	315.66	494.96	697.85	458.77	464.36	366.5
Net Income to Common	315.66	494.96	697.85	458.77	464.36	366.5
Net Income Growth	-43.43%	-29.07%	52.11%	-1.20%	26.70%	74.45%
Shares Outstanding (Basic)	1,450	1,456	1,454	1,480	1,222	1,222
Shares Outstanding (Diluted)	1,450	1,456	1,454	1,480	1,222	1,222
Shares Change (YoY)	-1.43%	0.13%	-1.76%	21.11%	0.03%	-1.15%
EPS (Basic)	0.22	0.34	0.48	0.31	0.38	0.30
EPS (Diluted)	0.22	0.34	0.48	0.31	0.38	0.30
EPS Growth	-42.61%	-29.17%	54.84%	-18.42%	26.67%	76.47%
Free Cash Flow	32.06	91.46	770.88	316.58	473.64	643.05
Free Cash Flow Per Share	0.02	0.06	0.53	0.21	0.39	0.53
Dividend Per Share	0.050	0.120	0.250	0.400	0.420	0.060
Dividend Growth	-84.38%	-52.00%	-37.50%	-4.76%	600.00%	-
Gross Margin	63.03%	63.19%	63.52%	61.01%	62.97%	62.17%
Operating Margin	7.96%	11.68%	14.66%	11.86%	12.99%	12.84%
Profit Margin	6.19%	9.61%	13.28%	10.64%	10.43%	9.68%
Free Cash Flow Margin	0.63%	1.77%	14.67%	7.34%	10.64%	16.98%
EBITDA	489.33	684.34	850.84	598.46	669.75	587.98
EBITDA Margin	9.60%	13.28%	16.20%	13.88%	15.05%	15.52%
D&A For EBITDA	83.72	82.53	80.94	86.9	91.37	101.7
EBIT	405.61	601.81	769.89	511.57	578.38	486.29
EBIT Margin	7.96%	11.68%	14.66%	11.86%	12.99%	12.84%
Effective Tax Rate	27.87%	24.37%	18.88%	21.54%	22.15%	23.94%
Revenue as Reported	5,097	5,153	5,254	4,313	4,451	3,788
Advertising Expenses	-	317.25	277.36	257.36	249.97	199.16

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