Baoxiniao Holding 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	Jan '22 Jan 1, 2022
Operating Revenue	5,148	5,012	5,019	5,109	4,233	4,326
Other Revenue	157.65	157.65	134.37	144.72	79.75	125.03
Revenue	5,306	5,169	5,153	5,254	4,313	4,451
Revenue Growth (YoY)	3.96%	0.31%	-1.91%	21.82%	-3.11%	17.52%
Cost of Revenue	2,007	1,929	1,897	1,917	1,682	1,648
Gross Profit	3,298	3,240	3,256	3,337	2,631	2,803
Selling, General & Admin	2,763	2,713	2,509	2,402	1,990	2,093
Research & Development	73.94	75.29	92.73	108.57	83.3	75.53
Other Operating Expenses	53.43	45.25	45.51	47.21	36.69	43.97
Operating Expenses	2,895	2,835	2,654	2,567	2,120	2,225
Operating Income	403.8	404.58	601.81	769.89	511.57	578.38
Interest Expense	-14.32	-14.17	-16.52	-13.35	-10.18	-10.39
Interest & Investment Income	73.68	69.94	65.56	91.6	60.09	37
Currency Exchange Gain (Loss)	-0.53	-0.53	0.34	0.39	2.34	1.66
Other Non Operating Income (Expenses)	-9.15	-11.2	-11.83	-10.63	-10.62	-6.55
EBT Excluding Unusual Items	453.47	448.61	639.36	837.91	553.2	600.1
Impairment of Goodwill	-	-	-17.74	-	-	-
Gain (Loss) on Sale of Investments	-12.53	-13.86	-14.4	-9.08	-18.73	-7.84
Gain (Loss) on Sale of Assets	-0.32	-0.54	-0.12	-0.33	1.16	0.87
Asset Writedown	-49.49	-47.18	-26.96	-52.59	-61.5	-41.13
Other Unusual Items	177.11	94.16	107.65	122.63	132.65	63.82
Pretax Income	568.25	481.19	687.78	898.54	606.77	615.83
Income Tax Expense	152.79	130.69	167.63	169.64	130.72	136.41
Earnings From Continuing Operations	415.47	350.5	520.15	728.89	476.05	479.42
Minority Interest in Earnings	-7.21	-8.75	-25.19	-31.04	-17.27	-15.06
Net Income	408.25	341.75	494.96	697.85	458.77	464.36
Net Income to Common	408.25	341.75	494.96	697.85	458.77	464.36
Net Income Growth	-1.65%	-30.95%	-29.07%	52.11%	-1.20%	26.70%
Shares Outstanding (Basic)	1,501	1,486	1,456	1,454	1,480	1,222
Shares Outstanding (Diluted)	1,501	1,486	1,456	1,454	1,480	1,222
Shares Change (YoY)	4.04%	2.07%	0.13%	-1.76%	21.11%	0.03%
EPS (Basic)	0.27	0.23	0.34	0.48	0.31	0.38
EPS (Diluted)	0.27	0.23	0.34	0.48	0.31	0.38
EPS Growth	-5.47%	-32.35%	-29.17%	54.84%	-18.42%	26.67%
Free Cash Flow	421.36	324.33	91.46	770.88	316.58	473.64
Free Cash Flow Per Share	0.28	0.22	0.06	0.53	0.21	0.39
Dividend Per Share	0.170	0.170	0.120	0.250	0.400	0.420
Dividend Growth	41.67%	41.67%	-52.00%	-37.50%	-4.76%	600.00%
Gross Margin	62.17%	62.68%	63.19%	63.52%	61.01%	62.97%
Operating Margin	7.61%	7.83%	11.68%	14.66%	11.86%	12.99%
Profit Margin	7.70%	6.61%	9.61%	13.28%	10.64%	10.43%
Free Cash Flow Margin	7.94%	6.27%	1.77%	14.67%	7.34%	10.64%
EBITDA	530.17	523.51	690.97	850.84	598.46	669.75
EBITDA Margin	9.99%	10.13%	13.41%	16.20%	13.88%	15.05%
D&A For EBITDA	126.37	118.93	89.17	80.94	86.9	91.37
EBIT	403.8	404.58	601.81	769.89	511.57	578.38
EBIT Margin	7.61%	7.83%	11.68%	14.66%	11.86%	12.99%
Effective Tax Rate	26.89%	27.16%	24.37%	18.88%	21.54%	22.15%
Revenue as Reported	5,306	5,169	5,153	5,254	4,313	4,451
Advertising Expenses	-	362.42	317.25	277.36	257.36	249.97

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