New Hope Dairy 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	10,192	9,907	9,834	8,847	8,374	6,342
Other Revenue	758.03	758.03	1,153	1,159	592.79	406.25
Revenue	10,950	10,665	10,987	10,006	8,967	6,749
Revenue Growth (YoY)	0.06%	-2.93%	9.80%	11.59%	32.87%	18.92%
Cost of Revenue	7,810	7,641	8,035	7,687	6,850	5,165
Gross Profit	3,139	3,025	2,953	2,320	2,116	1,583
Selling, General & Admin	2,009	2,040	2,148	1,741	1,654	1,223
Research & Development	52.25	49.1	47.39	47.67	40.26	34.63
Other Operating Expenses	57.61	53.05	51.74	45.86	44.38	32.89
Operating Expenses	2,125	2,133	2,250	1,869	1,731	1,294
Operating Income	1,014	891.29	702.26	450.72	385.23	289.67
Interest Expense	-91	-110.09	-153.67	-148.78	-123.37	-84.05
Interest & Investment Income	27.78	7.66	15.12	59.53	61.72	41.95
Currency Exchange Gain (Loss)	0.21	0.21	-12.02	-7.51	1.04	-2.7
Other Non Operating Income (Expenses)	12.01	1	-11.59	-2.02	-5.19	-5.85
EBT Excluding Unusual Items	963.16	790.07	540.1	351.94	319.42	239.02
Impairment of Goodwill	-	-	-12.6	-	-	-
Gain (Loss) on Sale of Investments	31.67	20.95	23.24	28.81	2.05	-
Gain (Loss) on Sale of Assets	-98.75	-87.24	-102.63	-31.27	-14.33	-14.66
Asset Writedown	-143.15	-125.09	-9.83	-1.5	-1.7	-1.87
Other Unusual Items	49.16	44.77	70.54	57.92	71.39	85.83
Pretax Income	802.08	643.46	508.83	405.91	376.84	308.32
Income Tax Expense	97.96	94	71.17	44.04	35.58	18.88
Earnings From Continuing Operations	704.12	549.46	437.66	361.86	341.26	289.43
Minority Interest in Earnings	-17.3	-11.77	-6.83	-0.63	-29	-18.45
Net Income	686.82	537.69	430.83	361.23	312.26	270.98
Net Income to Common	686.82	537.69	430.83	361.23	312.26	270.98
Net Income Growth	31.16%	24.80%	19.27%	15.68%	15.23%	11.18%
Shares Outstanding (Basic)	870	867	862	860	867	847
Shares Outstanding (Diluted)	870	867	862	860	867	847
Shares Change (YoY)	1.36%	0.65%	0.18%	-0.84%	2.43%	0.76%
EPS (Basic)	0.79	0.62	0.50	0.42	0.36	0.32
EPS (Diluted)	0.79	0.62	0.50	0.42	0.36	0.32
EPS Growth	29.40%	24.00%	19.05%	16.67%	12.50%	10.35%
Free Cash Flow	964.56	825.43	781.51	301.38	339.79	85.01
Free Cash Flow Per Share	1.11	0.95	0.91	0.35	0.39	0.10
Dividend Per Share	0.320	0.285	0.150	0.085	0.075	0.070
Dividend Growth	72.97%	90.00%	76.47%	13.33%	7.14%	16.67%
Gross Margin	28.67%	28.36%	26.87%	23.18%	23.60%	23.46%
Operating Margin	9.26%	8.36%	6.39%	4.50%	4.30%	4.29%
Profit Margin	6.27%	5.04%	3.92%	3.61%	3.48%	4.01%
Free Cash Flow Margin	8.81%	7.74%	7.11%	3.01%	3.79%	1.26%
EBITDA	1,423	1,322	1,162	891.14	773.76	642.15
EBITDA Margin	13.00%	12.39%	10.57%	8.91%	8.63%	9.52%
D&A For EBITDA	408.82	430.53	459.48	440.42	388.53	352.48
EBIT	1,014	891.29	702.26	450.72	385.23	289.67
EBIT Margin	9.26%	8.36%	6.39%	4.50%	4.30%	4.29%
Effective Tax Rate	12.21%	14.61%	13.99%	10.85%	9.44%	6.13%
Revenue as Reported	10,950	10,665	10,987	10,006	8,967	6,749

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