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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Jan '25 Jan 1, 2025	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Operating Revenue	10,800	10,582	9,907	9,834	8,847	8,374
Other Revenue	651.8	651.8	758.03	1,153	1,159	592.79
Revenue	11,451	11,233	10,665	10,987	10,006	8,967
Revenue Growth (YoY)	7.26%	5.33%	-2.93%	9.80%	11.59%	32.87%
Cost of Revenue	8,096	7,955	7,641	8,035	7,687	6,850
Gross Profit	3,356	3,278	3,025	2,953	2,320	2,116
Selling, General & Admin	2,212	2,166	2,040	2,148	1,741	1,654
Research & Development	47.28	50.37	49.1	47.39	47.67	40.26
Other Operating Expenses	63.68	59.51	53.05	51.74	45.86	44.38
Operating Expenses	2,318	2,271	2,133	2,250	1,869	1,731
Operating Income	1,038	1,007	891.29	702.26	450.72	385.23
Interest Expense	-89.47	-89.47	-110.09	-153.67	-148.78	-123.37
Interest & Investment Income	32.37	32.37	7.66	15.12	59.53	61.72
Earnings From Equity Investments	-1.21	-	-	-	-	-
Currency Exchange Gain (Loss)	-0.39	-0.39	0.21	-12.02	-7.51	1.04
Other Non Operating Income (Expenses)	3.47	4.11	1	-11.59	-2.02	-5.19
EBT Excluding Unusual Items	982.57	953.8	790.07	540.1	351.94	319.42
Impairment of Goodwill	-10.33	-10.33	-	-12.6	-	-
Gain (Loss) on Sale of Investments	12.8	4.69	20.95	23.24	28.81	2.05
Gain (Loss) on Sale of Assets	-88.82	-96.95	-87.24	-102.63	-31.27	-14.33
Asset Writedown	-49.48	-61.33	-125.09	-9.83	-1.5	-1.7
Other Unusual Items	60.24	60.24	44.77	70.54	57.92	71.39
Pretax Income	906.98	850.11	643.46	508.83	405.91	376.84
Income Tax Expense	98.82	95.65	94	71.17	44.04	35.58
Earnings From Continuing Operations	808.16	754.47	549.46	437.66	361.86	341.26
Minority Interest in Earnings	-23.86	-23.32	-11.77	-6.83	-0.63	-29
Net Income	784.3	731.15	537.69	430.83	361.23	312.26
Net Income to Common	784.3	731.15	537.69	430.83	361.23	312.26
Net Income Growth	34.95%	35.98%	24.80%	19.27%	15.68%	15.23%
Shares Outstanding (Basic)	850	860	867	862	860	867
Shares Outstanding (Diluted)	850	860	867	862	860	867
Shares Change (YoY)	-1.74%	-0.81%	0.65%	0.18%	-0.84%	2.43%
EPS (Basic)	0.92	0.85	0.62	0.50	0.42	0.36
EPS (Diluted)	0.92	0.85	0.62	0.50	0.42	0.36
EPS Growth	37.33%	37.10%	24.00%	19.05%	16.67%	12.50%
Free Cash Flow	1,010	905.16	825.43	781.51	301.38	339.79
Free Cash Flow Per Share	1.19	1.05	0.95	0.91	0.35	0.39
Dividend Per Share	0.450	0.450	0.285	0.150	0.085	0.075
Dividend Growth	57.89%	57.89%	90.00%	76.47%	13.33%	7.14%
Gross Margin	29.30%	29.18%	28.36%	26.87%	23.18%	23.60%
Operating Margin	9.06%	8.97%	8.36%	6.39%	4.50%	4.30%
Profit Margin	6.85%	6.51%	5.04%	3.92%	3.61%	3.48%
Free Cash Flow Margin	8.82%	8.06%	7.74%	7.11%	3.01%	3.79%
EBITDA	1,464	1,438	1,343	1,162	891.14	773.76
EBITDA Margin	12.78%	12.80%	12.59%	10.57%	8.91%	8.63%
D&A For EBITDA	426.09	431.17	451.47	459.48	440.42	388.53
EBIT	1,038	1,007	891.29	702.26	450.72	385.23
EBIT Margin	9.06%	8.97%	8.36%	6.39%	4.50%	4.30%
Effective Tax Rate	10.90%	11.25%	14.61%	13.99%	10.85%	9.44%
Revenue as Reported	11,233	11,233	10,665	10,987	10,006	8,967

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