Jiangsu Yanghe Distillery 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	18,822	28,248	32,489	29,500	24,639	20,334
Other Revenue	628	628	636.84	605.03	711.5	766.77
Revenue	19,450	28,876	33,126	30,105	25,350	21,101
Revenue Growth (YoY)	-35.94%	-12.83%	10.04%	18.76%	20.14%	-8.76%
Cost of Revenue	5,834	7,813	8,254	7,687	6,306	5,899
Gross Profit	13,615	21,064	24,873	22,417	19,044	15,202
Selling, General & Admin	6,766	7,391	7,101	6,075	5,331	4,292
Research & Development	148.81	104.8	284.75	253.57	258.46	260.09
Other Operating Expenses	3,637	4,817	5,264	4,388	4,144	3,415
Operating Expenses	10,555	12,313	12,648	10,719	9,734	7,967
Operating Income	3,061	8,751	12,224	11,699	9,310	7,235
Interest Expense	-2.79	-2.96	-1.71	-0.69	-0.6	-0
Interest & Investment Income	465.83	767.86	1,021	1,072	1,335	1,311
Currency Exchange Gain (Loss)	3.63	3.63	-0.91	-0.34	-3.19	-3.67
Other Non Operating Income (Expenses)	-34.26	-10.36	-8.6	-7.55	-18.25	-13.51
EBT Excluding Unusual Items	3,493	9,509	13,234	12,762	10,623	8,529
Gain (Loss) on Sale of Investments	-343.44	-396.16	-37.08	-318.33	-721.21	1,268
Gain (Loss) on Sale of Assets	0.57	-2.73	-5.28	1.85	0.18	0.05
Asset Writedown	-3.12	-2.98	-1.94	-6.68	-10.87	-4.8
Other Unusual Items	35.79	35.79	28.26	64.6	55.81	86.75
Pretax Income	3,183	9,143	13,218	12,503	9,946	9,879
Income Tax Expense	1,130	2,477	3,197	3,114	2,434	2,394
Earnings From Continuing Operations	2,053	6,666	10,021	9,389	7,513	7,485
Minority Interest in Earnings	16.25	6.93	-4.84	-11.57	-5.13	-2.38
Net Income	2,070	6,673	10,016	9,378	7,508	7,482
Net Income to Common	2,070	6,673	10,016	9,378	7,508	7,482
Net Income Growth	-75.33%	-33.37%	6.80%	24.91%	0.34%	1.35%
Shares Outstanding (Basic)	1,506	1,506	1,506	1,506	1,497	1,501
Shares Outstanding (Diluted)	1,506	1,506	1,506	1,506	1,497	1,501
Shares Change (YoY)	-0.00%	-	0.00%	0.61%	-0.26%	-0.39%
EPS (Basic)	1.37	4.43	6.65	6.23	5.01	4.98
EPS (Diluted)	1.37	4.43	6.65	6.23	5.01	4.98
EPS Growth	-75.33%	-33.37%	6.80%	24.15%	0.60%	1.74%
Free Cash Flow	1,254	3,175	5,019	3,108	14,895	3,626
Free Cash Flow Per Share	0.83	2.11	3.33	2.06	9.95	2.42
Dividend Per Share	2.317	4.647	4.660	3.740	3.000	3.000
Dividend Growth	-66.85%	-0.28%	24.60%	24.67%	-	-
Gross Margin	70.00%	72.94%	75.08%	74.46%	75.12%	72.04%
Operating Margin	15.74%	30.30%	36.90%	38.86%	36.73%	34.29%
Profit Margin	10.64%	23.11%	30.24%	31.15%	29.62%	35.46%
Free Cash Flow Margin	6.45%	10.99%	15.15%	10.32%	58.76%	17.18%
EBITDA	3,644	9,384	12,923	12,436	10,060	8,018
EBITDA Margin	18.73%	32.50%	39.01%	41.31%	39.68%	38.00%
D&A For EBITDA	583.14	632.53	698.39	737.71	749.59	782.72
EBIT	3,061	8,751	12,224	11,699	9,310	7,235
EBIT Margin	15.74%	30.30%	36.90%	38.86%	36.73%	34.29%
Effective Tax Rate	35.49%	27.09%	24.19%	24.90%	24.47%	24.24%
Revenue as Reported	19,450	28,876	33,126	30,105	25,350	21,101
Advertising Expenses	-	3,649	3,461	2,414	1,912	1,411

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