Western Securities 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest and Dividend Income	3,751	3,854	3,221	3,060	2,769	2,929
Total Interest Expense	1,018	1,002	1,133	1,288	1,218	821.38
Net Interest Income	2,733	2,852	2,088	1,772	1,551	2,107
Gain on Sale of Investments (Rev)	-236.4	-316.32	292.33	271.59	-741.63	168.5
Other Revenue	3,666	3,418	4,308	4,817	4,470	4,461
Revenue Before Loan Losses	6,163	5,954	6,688	6,861	5,280	6,737
Provision for Loan Losses	1.3	1.3	-0.15	-1.19	-4.41	-1.92
Revenue	6,161	5,952	6,688	6,862	5,284	6,739
Revenue Growth (YoY)	-2.31%	-11.00%	-2.53%	29.86%	-21.59%	31.09%
Cost of Services Provided	3,050	2,767	2,504	2,284	2,069	2,510
Other Operating Expenses	873.83	938.26	2,464	3,066	2,636	2,394
Total Operating Expenses	3,933	3,715	4,971	5,349	4,702	5,011
Operating Income	2,228	2,238	1,717	1,513	582.22	1,727
Currency Exchange Gains	-2.91	-1.9	0.25	0.6	2.64	-0.66
Other Non-Operating Income (Expenses)	0.15	-	-	-	-	-
EBT Excluding Unusual Items	2,225	2,236	1,717	1,513	584.86	1,727
Asset Writedown	-0.36	-0.36	-0.28	-0.63	-0.09	-0.2
Gain (Loss) on Sale of Investments	0.19	0.19	0.13	-1.82	-21.35	137.72
Other Unusual Items	29.55	29.66	24.73	20.39	22.09	11.59
Pretax Income	2,256	2,266	1,742	1,532	585.62	1,876
Income Tax Expense	452.25	453.43	314.17	333.9	125.29	450.53
Earnings From Continuing Ops.	1,804	1,813	1,428	1,198	460.33	1,425
Minority Interest in Earnings	-56.56	-59.3	-24.83	-32.13	-29.8	-15.35
Net Income	1,747	1,754	1,403	1,166	430.53	1,410
Net Income to Common	1,747	1,754	1,403	1,166	430.53	1,410
Net Income Growth	16.62%	24.97%	20.38%	170.76%	-69.47%	26.23%
Shares Outstanding (Basic)	4,470	4,469	4,469	4,470	4,471	4,469
Shares Outstanding (Diluted)	4,470	4,469	4,469	4,470	4,471	4,469
Shares Change (YoY)	0.05%	0.00%	-0.02%	-0.02%	0.04%	27.63%
EPS (Basic)	0.39	0.39	0.31	0.26	0.10	0.32
EPS (Diluted)	0.39	0.39	0.31	0.26	0.10	0.32
EPS Growth	16.57%	24.97%	20.40%	170.82%	-69.48%	-1.10%
Free Cash Flow	2,145	2,070	11,897	19.51	-4,944	-13,917
Free Cash Flow Per Share	0.48	0.46	2.66	0.00	-1.11	-3.11
Dividend Per Share	0.120	0.120	0.100	0.090	0.049	0.107
Dividend Growth	20.00%	20.00%	11.11%	83.67%	-54.21%	40.79%
Operating Margin	36.16%	37.59%	25.67%	22.05%	11.02%	25.63%
Profit Margin	28.36%	29.46%	20.98%	16.99%	8.15%	20.92%
Free Cash Flow Margin	34.81%	34.78%	177.88%	0.28%	-93.56%	-206.52%
Effective Tax Rate	20.05%	20.01%	18.03%	21.80%	21.39%	24.02%
Revenue as Reported	6,193	5,985	6,712	6,894	5,308	6,751

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