Xin Hee 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	1,505	1,480	1,393	1,746	1,730	2,089
Other Revenue	-	-	11.93	13.03	12.89	12.69
Revenue	1,505	1,480	1,405	1,759	1,743	2,102
Revenue Growth (YoY)	8.45%	5.35%	-20.10%	0.93%	-17.09%	14.66%
Cost of Revenue	489.7	495.01	576.5	617.57	612.61	678.87
Gross Profit	1,016	985.46	828.79	1,141	1,130	1,423
Selling, General & Admin	849.92	828.57	854.16	944.97	896.83	977.62
Research & Development	63.52	61.14	61.77	78.06	78.08	72.17
Other Operating Expenses	16.28	17.34	17.98	20.78	20.86	21.7
Operating Expenses	929.71	907.05	940.56	1,037	1,004	1,075
Operating Income	85.89	78.41	-111.77	104.23	125.88	347.58
Interest Expense	-	-	-8.55	-5.31	-4.26	-6.25
Interest & Investment Income	13.72	11.15	22.4	24.86	26.29	33.91
Currency Exchange Gain (Loss)	-	-	-0.03	0.15	0.01	0
Other Non Operating Income (Expenses)	9.26	10.18	-1.01	-1.12	-0.58	-1.76
EBT Excluding Unusual Items	108.87	99.74	-98.97	122.81	147.34	373.48
Gain (Loss) on Sale of Investments	7.76	8.38	8.42	6.74	6.32	6
Gain (Loss) on Sale of Assets	-0.07	-0.02	0.05	-0.01	0.26	0
Asset Writedown	-78.24	-85.05	-0.33	-4.09	-0.54	-1.24
Other Unusual Items	-	-	3.24	11.97	23.27	9.67
Pretax Income	38.32	23.05	-87.59	137.42	176.64	387.91
Income Tax Expense	8.58	5.24	-20.21	37.29	47.51	99.57
Earnings From Continuing Operations	29.74	17.8	-67.38	100.14	129.13	288.34
Minority Interest in Earnings	0.06	0.14	-	-	-	-
Net Income	29.8	17.94	-67.38	100.14	129.13	288.34
Net Income to Common	29.8	17.94	-67.38	100.14	129.13	288.34
Net Income Growth	-	-	-	-22.45%	-55.22%	61.76%
Shares Outstanding (Basic)	418	418	418	418	425	431
Shares Outstanding (Diluted)	420	419	418	418	425	431
Shares Change (YoY)	0.21%	0.18%	0.01%	-1.52%	-1.51%	27.71%
EPS (Basic)	0.07	0.04	-0.16	0.24	0.30	0.67
EPS (Diluted)	0.07	0.04	-0.16	0.24	0.30	0.67
EPS Growth	-	-	-	-21.26%	-54.53%	26.66%
Free Cash Flow	247.56	232.36	46.45	114.39	-9.04	187.07
Free Cash Flow Per Share	0.59	0.55	0.11	0.27	-0.02	0.43
Dividend Per Share	-	-	-	0.230	0.300	0.600
Dividend Growth	-	-	-	-23.33%	-50.00%	50.00%
Gross Margin	67.47%	66.56%	58.98%	64.89%	64.84%	67.70%
Operating Margin	5.71%	5.30%	-7.95%	5.93%	7.22%	16.54%
Profit Margin	1.98%	1.21%	-4.79%	5.69%	7.41%	13.72%
Free Cash Flow Margin	16.45%	15.70%	3.31%	6.50%	-0.52%	8.90%
EBITDA	133	124.55	-69.52	150.3	162.2	370.81
EBITDA Margin	8.83%	8.41%	-4.95%	8.55%	9.31%	17.64%
D&A For EBITDA	47.11	46.13	42.24	46.08	36.32	23.24
EBIT	85.89	78.41	-111.77	104.23	125.88	347.58
EBIT Margin	5.71%	5.30%	-7.95%	5.93%	7.22%	16.54%
Effective Tax Rate	22.38%	22.76%	-	27.13%	26.90%	25.67%
Revenue as Reported	-	-	1,405	1,759	1,743	2,102
Advertising Expenses	-	-	53.74	21.95	26.78	24.21

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