Ninestar 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	21,120	26,010	23,740	25,510	22,542	20,868
Other Revenue	405.19	405.19	322.12	345.47	249.88	247.58
Revenue	21,526	26,415	24,062	25,855	22,792	21,116
Revenue Growth (YoY)	-15.62%	9.78%	-6.94%	13.44%	7.94%	-9.36%
Cost of Revenue	15,030	17,931	16,649	17,596	15,162	14,418
Gross Profit	6,496	8,484	7,413	8,259	7,629	6,698
Selling, General & Admin	4,018	4,298	4,745	4,407	3,926	4,056
Research & Development	1,405	1,695	1,741	1,679	1,452	1,378
Other Operating Expenses	18.53	90.69	33.06	39.1	25.25	29.43
Operating Expenses	5,418	6,158	6,576	6,163	5,444	5,456
Operating Income	1,078	2,326	837.02	2,096	2,185	1,242
Interest Expense	-685.15	-916.2	-935.74	-597.43	-595.64	-844.78
Interest & Investment Income	173.34	426.34	224.11	156.19	283.87	95.66
Currency Exchange Gain (Loss)	139.04	139.04	-27.58	813.73	-174.26	-778.45
Other Non Operating Income (Expenses)	-67.11	-89.54	-92.37	-19.11	-20.37	-90.29
EBT Excluding Unusual Items	637.97	1,886	5.44	2,450	1,678	-376
Impairment of Goodwill	-711.13	-711.13	-8,159	-	-	-
Gain (Loss) on Sale of Investments	-19.71	15.36	-352.02	-239.32	198.68	22.59
Gain (Loss) on Sale of Assets	-178.92	127.79	202.13	6.38	40.58	-11.59
Asset Writedown	-357.64	-94.25	-967.31	-11.23	-7.82	-12.33
Other Unusual Items	112.13	112.13	110.25	177.21	95.81	90.93
Pretax Income	-517.3	1,335	-9,160	2,383	2,006	-286.4
Income Tax Expense	349.04	520.43	-258.9	328.55	409.26	-322.74
Earnings From Continuing Operations	-866.34	814.98	-8,901	2,054	1,596	36.34
Minority Interest in Earnings	178.14	-65.78	2,716	-191.12	-433.24	108.84
Net Income	-688.2	749.2	-6,185	1,863	1,163	145.18
Net Income to Common	-688.2	749.2	-6,185	1,863	1,163	145.18
Net Income Growth	-	-	-	60.15%	701.23%	-80.50%
Shares Outstanding (Basic)	1,411	1,402	1,407	1,408	1,186	1,141
Shares Outstanding (Diluted)	1,411	1,409	1,407	1,414	1,187	1,148
Shares Change (YoY)	0.79%	0.11%	-0.47%	19.09%	3.45%	7.85%
EPS (Basic)	-0.49	0.53	-4.39	1.32	0.98	0.13
EPS (Diluted)	-0.49	0.53	-4.39	1.32	0.98	0.13
EPS Growth	-	-	-	34.48%	674.47%	-81.92%
Free Cash Flow	1,076	1,683	1,913	51.97	2,081	1,681
Free Cash Flow Per Share	0.76	1.20	1.36	0.04	1.75	1.47
Dividend Per Share	-	-	-	0.120	0.100	0.120
Dividend Growth	-	-	-	20.00%	-16.67%	20.00%
Gross Margin	30.18%	32.12%	30.81%	31.94%	33.47%	31.72%
Operating Margin	5.01%	8.80%	3.48%	8.11%	9.59%	5.88%
Profit Margin	-3.20%	2.84%	-25.70%	7.21%	5.10%	0.69%
Free Cash Flow Margin	5.00%	6.37%	7.95%	0.20%	9.13%	7.96%
EBITDA	1,740	3,166	1,914	3,075	3,141	2,402
EBITDA Margin	8.08%	11.98%	7.95%	11.89%	13.78%	11.38%
D&A For EBITDA	662.15	839.96	1,077	978.81	955.9	1,160
EBIT	1,078	2,326	837.02	2,096	2,185	1,242
EBIT Margin	5.01%	8.80%	3.48%	8.11%	9.59%	5.88%
Effective Tax Rate	-	38.97%	-	13.79%	20.40%	-
Revenue as Reported	21,526	26,415	24,062	25,855	22,792	21,116
Advertising Expenses	-	195.13	198.61	226.56	-	-

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