Zhejiang Wanma 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	19,744	19,090	17,662	15,010	14,583	12,671
Other Revenue	150.37	150.37	98.36	110.68	91.8	96.1
Revenue	19,894	19,240	17,761	15,121	14,675	12,767
Revenue Growth (YoY)	10.96%	8.33%	17.46%	3.04%	14.94%	36.96%
Cost of Revenue	17,592	16,933	15,767	12,986	12,707	11,129
Gross Profit	2,302	2,307	1,994	2,135	1,968	1,639
Selling, General & Admin	1,111	1,150	1,034	975.38	960.77	864.27
Research & Development	664.39	652.93	656.78	636.08	611.85	473.14
Other Operating Expenses	-131.59	-150.24	-197.02	-81.54	-66.81	-62.52
Operating Expenses	1,707	1,734	1,573	1,562	1,491	1,301
Operating Income	595.6	572.92	421.05	573.54	476.72	337.38
Interest Expense	-43.95	-44.44	-50.8	-81.92	-67.33	-34.78
Interest & Investment Income	65.46	62.99	35.12	61.33	65.43	20.79
Currency Exchange Gain (Loss)	-4.6	-4.6	8.75	5.8	44.96	-7.89
Other Non Operating Income (Expenses)	-99.09	-82.29	-74.69	-66.79	-64.66	-48.64
EBT Excluding Unusual Items	513.42	504.58	339.44	491.96	455.12	266.86
Impairment of Goodwill	-89.21	-89.21	-	-3.57	-48.98	-
Gain (Loss) on Sale of Investments	-13.32	-9.29	-16.89	4.58	6.06	-6.68
Gain (Loss) on Sale of Assets	-6.58	-7.56	-2.95	67.33	-5.11	-2.23
Asset Writedown	-41.67	-28.33	-9.16	-21.53	-24.47	-19.74
Other Unusual Items	38.89	39.31	60.35	65.9	64.82	50.07
Pretax Income	401.52	409.5	370.77	604.68	447.45	288.29
Income Tax Expense	74.32	64.03	27.08	43.87	33.51	14.58
Earnings From Continuing Operations	327.2	345.47	343.7	560.81	413.93	273.71
Minority Interest in Earnings	1.32	1.65	-2.53	-5.41	-2.42	-2.5
Net Income	328.52	347.11	341.17	555.41	411.51	271.21
Net Income to Common	328.52	347.11	341.17	555.41	411.51	271.21
Net Income Growth	-7.85%	1.74%	-38.57%	34.97%	51.73%	21.59%
Shares Outstanding (Basic)	1,007	1,007	1,007	1,005	1,005	1,015
Shares Outstanding (Diluted)	1,007	1,007	1,007	1,005	1,005	1,015
Shares Change (YoY)	-0.04%	0.06%	0.12%	0.03%	-0.97%	-1.98%
EPS (Basic)	0.33	0.34	0.34	0.55	0.41	0.27
EPS (Diluted)	0.33	0.34	0.34	0.55	0.41	0.27
EPS Growth	-7.81%	1.68%	-38.65%	34.93%	53.22%	24.05%
Free Cash Flow	728.2	326.21	-208.95	-81.07	376.04	536.12
Free Cash Flow Per Share	0.72	0.32	-0.21	-0.08	0.37	0.53
Dividend Per Share	0.055	0.055	0.050	0.055	0.048	0.037
Dividend Growth	10.00%	10.00%	-9.09%	14.58%	29.73%	5.71%
Gross Margin	11.57%	11.99%	11.23%	14.12%	13.41%	12.83%
Operating Margin	2.99%	2.98%	2.37%	3.79%	3.25%	2.64%
Profit Margin	1.65%	1.80%	1.92%	3.67%	2.80%	2.12%
Free Cash Flow Margin	3.66%	1.70%	-1.18%	-0.54%	2.56%	4.20%
EBITDA	859.41	829.63	649.34	785.46	666.88	511.79
EBITDA Margin	4.32%	4.31%	3.66%	5.20%	4.54%	4.01%
D&A For EBITDA	263.81	256.71	228.29	211.92	190.16	174.41
EBIT	595.6	572.92	421.05	573.54	476.72	337.38
EBIT Margin	2.99%	2.98%	2.37%	3.79%	3.25%	2.64%
Effective Tax Rate	18.51%	15.64%	7.30%	7.26%	7.49%	5.06%
Revenue as Reported	19,894	19,240	17,761	15,121	14,675	12,767

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