Zhefu Holding Group 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	21,767	20,869	18,914	16,734	14,101	8,308
Other Revenue	42.46	42.46	36.71	46.14	51.56	35.47
Revenue	21,809	20,912	18,951	16,780	14,153	8,343
Revenue Growth (YoY)	9.35%	10.35%	12.94%	18.56%	69.63%	27.60%
Cost of Revenue	19,359	18,468	16,708	14,008	10,919	6,015
Gross Profit	2,450	2,444	2,243	2,772	3,234	2,328
Selling, General & Admin	613.09	592.5	545.65	490.78	470.67	362.15
Research & Development	908.27	940.53	800.54	658.56	678.87	330.13
Other Operating Expenses	-143.59	-104.41	11.17	-50.13	-95.13	-70.38
Operating Expenses	1,387	1,446	1,351	1,110	1,081	648.85
Operating Income	1,063	998.02	891.22	1,662	2,153	1,679
Interest Expense	-98.99	-118.64	-197.67	-225.31	-218.84	-153.68
Interest & Investment Income	57.29	55.43	191.76	34.69	330.52	218.4
Currency Exchange Gain (Loss)	-13.99	-13.99	7.47	49.9	-11.18	3.76
Other Non Operating Income (Expenses)	-9.38	-16.89	-9.39	-5.56	-6.71	-18.29
EBT Excluding Unusual Items	998.2	903.93	883.39	1,516	2,247	1,730
Gain (Loss) on Sale of Investments	17.78	42.31	-67.52	-253.13	-65	-3.11
Gain (Loss) on Sale of Assets	-0.69	8.39	-3.81	-1.35	4.31	5.57
Asset Writedown	61.46	-7.64	-4.08	-2.46	-13	-1.43
Other Unusual Items	142.6	142.6	169.2	264.49	323.06	116.3
Pretax Income	1,219	1,090	977.18	1,523	2,496	1,847
Income Tax Expense	205.86	81.62	-50.74	41.39	175.87	249.78
Earnings From Continuing Operations	1,013	1,008	1,028	1,482	2,320	1,597
Net Income to Company	1,013	1,008	1,028	1,482	2,320	1,597
Minority Interest in Earnings	-78.9	-36.49	-2.3	-15.41	-9.35	-235.11
Net Income	934.59	971.49	1,026	1,467	2,311	1,362
Net Income to Common	934.59	971.49	1,026	1,467	2,311	1,362
Net Income Growth	14.71%	-5.28%	-30.07%	-36.53%	69.67%	189.64%
Shares Outstanding (Basic)	5,261	5,182	5,398	5,432	5,374	4,540
Shares Outstanding (Diluted)	5,261	5,182	5,398	5,432	5,374	4,540
Shares Change (YoY)	-2.25%	-4.01%	-0.63%	1.08%	18.37%	35.17%
EPS (Basic)	0.18	0.19	0.19	0.27	0.43	0.30
EPS (Diluted)	0.18	0.19	0.19	0.27	0.43	0.30
EPS Growth	17.35%	-1.32%	-29.63%	-37.21%	43.33%	114.29%
Free Cash Flow	-319.86	713.67	746.17	-240.49	-1,103	-1,568
Free Cash Flow Per Share	-0.06	0.14	0.14	-0.04	-0.20	-0.34
Dividend Per Share	0.050	0.050	0.050	0.060	0.080	0.050
Dividend Growth	-	-	-16.67%	-25.00%	60.00%	-
Gross Margin	11.23%	11.69%	11.83%	16.52%	22.85%	27.91%
Operating Margin	4.88%	4.77%	4.70%	9.91%	15.21%	20.13%
Profit Margin	4.29%	4.65%	5.41%	8.74%	16.33%	16.32%
Free Cash Flow Margin	-1.47%	3.41%	3.94%	-1.43%	-7.79%	-18.79%
EBITDA	1,605	1,528	1,406	2,117	2,531	1,951
EBITDA Margin	7.36%	7.31%	7.42%	12.62%	17.88%	23.38%
D&A For EBITDA	541.67	530.02	514.49	454.79	378	271.26
EBIT	1,063	998.02	891.22	1,662	2,153	1,679
EBIT Margin	4.88%	4.77%	4.70%	9.91%	15.21%	20.13%
Effective Tax Rate	16.88%	7.49%	-	2.72%	7.05%	13.52%
Revenue as Reported	21,809	20,912	18,951	16,780	14,153	8,343

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