Shenzhen Zhongheng Huafa 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	845.84	769.16	674.26	604.68	683.79	617.39
Other Revenue	47.52	47.52	52.29	59.75	81.82	74.36
Revenue	893.36	816.68	726.54	664.44	765.61	691.74
Revenue Growth (YoY)	22.21%	12.41%	9.35%	-13.21%	10.68%	-4.13%
Cost of Revenue	793.17	727.5	659.08	600.09	687.58	616.05
Gross Profit	100.19	89.18	67.46	64.34	78.03	75.69
Selling, General & Admin	33.86	30.03	32.01	38.97	46.7	46.76
Research & Development	14.19	11.65	10.09	8.82	10.79	7.29
Other Operating Expenses	4.21	3.55	3.69	3.62	3.36	3.57
Operating Expenses	57.02	50	45.89	51.39	60.88	57.41
Operating Income	43.17	39.19	21.57	12.96	17.15	18.28
Interest Expense	-0	-	-1	-5.19	-7.87	-8.51
Interest & Investment Income	2.32	1.63	1.38	0.93	0.54	1
Currency Exchange Gain (Loss)	1.65	1.65	-0.08	2.39	0.02	-4.8
Other Non Operating Income (Expenses)	-2.1	-1.05	0.27	-0.75	0.81	-0.17
EBT Excluding Unusual Items	45.03	41.42	22.14	10.33	10.65	5.81
Gain (Loss) on Sale of Assets	-1.48	-1.45	-4.96	0.59	0.01	0.82
Asset Writedown	-	-	-	-1.02	-	-
Legal Settlements	-	-	-	-	-	-0.15
Other Unusual Items	4.77	0.54	1.25	5.41	1.29	2.34
Pretax Income	48.32	40.52	18.43	15.32	11.95	8.82
Income Tax Expense	4.56	3.78	5.09	5.19	4.75	1.99
Net Income	43.76	36.74	13.34	10.13	7.2	6.83
Net Income to Common	43.76	36.74	13.34	10.13	7.2	6.83
Net Income Growth	189.03%	175.35%	31.74%	40.63%	5.44%	25.09%
Shares Outstanding (Basic)	283	283	283	283	284	283
Shares Outstanding (Diluted)	283	283	283	283	284	283
Shares Change (YoY)	0.08%	-0.01%	0.13%	-0.23%	0.05%	0.18%
EPS (Basic)	0.15	0.13	0.05	0.04	0.03	0.02
EPS (Diluted)	0.15	0.13	0.05	0.04	0.03	0.02
EPS Growth	188.80%	175.37%	31.56%	40.95%	5.39%	24.87%
Free Cash Flow	60.89	92.64	113.53	79.27	-18.91	54.25
Free Cash Flow Per Share	0.21	0.33	0.40	0.28	-0.07	0.19
Gross Margin	11.21%	10.92%	9.29%	9.68%	10.19%	10.94%
Operating Margin	4.83%	4.80%	2.97%	1.95%	2.24%	2.64%
Profit Margin	4.90%	4.50%	1.84%	1.52%	0.94%	0.99%
Free Cash Flow Margin	6.82%	11.34%	15.63%	11.93%	-2.47%	7.84%
EBITDA	44.97	44.84	32.36	32.93	30.71	34.56
EBITDA Margin	5.03%	5.49%	4.45%	4.96%	4.01%	5.00%
D&A For EBITDA	1.8	5.65	10.79	19.97	13.56	16.28
EBIT	43.17	39.19	21.57	12.96	17.15	18.28
EBIT Margin	4.83%	4.80%	2.97%	1.95%	2.24%	2.64%
Effective Tax Rate	9.43%	9.33%	27.61%	33.88%	39.74%	22.53%
Revenue as Reported	893.36	816.68	726.54	664.44	765.61	691.74

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