Kaishan Group 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	4,497	4,166	4,100	3,689	3,424	2,994
Other Revenue	68.92	68.92	66.34	65.63	60.56	38.76
Revenue	4,566	4,235	4,167	3,754	3,485	3,032
Revenue Growth (YoY)	9.97%	1.64%	10.98%	7.73%	14.92%	15.16%
Cost of Revenue	2,951	2,853	2,820	2,599	2,499	2,150
Gross Profit	1,615	1,382	1,346	1,155	985.87	882.47
Selling, General & Admin	674.4	609.04	514.99	421.34	403.69	352.07
Research & Development	120.63	122.3	127.43	128.64	118.17	106.38
Other Operating Expenses	84.26	57.77	46.23	37.18	29.29	15.83
Operating Expenses	881.21	798.13	713.39	595.14	552.23	490.58
Operating Income	733.98	583.87	632.99	559.84	433.63	391.89
Interest Expense	-385.42	-304.9	-205.86	-154.97	-98.16	-80.85
Interest & Investment Income	104.44	66.1	23.59	28.83	21.82	16.95
Earnings From Equity Investments	-	-	-	-	13.12	-
Currency Exchange Gain (Loss)	7.17	7.17	17.93	5.18	-16.99	-38.65
Other Non Operating Income (Expenses)	-7.35	-13.25	-14.55	-6.9	-10.53	-6.47
EBT Excluding Unusual Items	452.83	338.99	454.09	431.99	342.9	282.87
Impairment of Goodwill	-	-	-5.99	-5.12	-6.96	-9.5
Gain (Loss) on Sale of Investments	-0.93	-0.93	-2.64	-	-	-
Gain (Loss) on Sale of Assets	0.19	0.18	0.29	0.34	0.98	-0.46
Asset Writedown	-15.2	-0.03	0.09	-0.71	-0.96	-0.32
Other Unusual Items	32.32	31.88	31.48	27.29	21.33	31.08
Pretax Income	469.21	370.1	477.31	453.79	357.28	303.67
Income Tax Expense	60.69	45.63	42.56	38.17	48.38	39.59
Earnings From Continuing Operations	408.51	324.47	434.75	415.62	308.9	264.09
Minority Interest in Earnings	-4.28	-4.05	-1.48	-6.96	-5.25	-7.26
Net Income	404.23	320.42	433.27	408.66	303.65	256.82
Net Income to Common	404.23	320.42	433.27	408.66	303.65	256.82
Net Income Growth	31.95%	-26.05%	6.02%	34.58%	18.23%	68.38%
Shares Outstanding (Basic)	1,001	1,001	985	997	980	856
Shares Outstanding (Diluted)	1,001	1,001	985	997	980	856
Shares Change (YoY)	1.71%	1.69%	-1.21%	1.76%	14.42%	1.03%
EPS (Basic)	0.40	0.32	0.44	0.41	0.31	0.30
EPS (Diluted)	0.40	0.32	0.44	0.41	0.31	0.30
EPS Growth	29.73%	-27.27%	7.32%	32.26%	3.33%	66.67%
Free Cash Flow	447.11	347.25	-296.83	-862.36	-940.45	-412.78
Free Cash Flow Per Share	0.45	0.35	-0.30	-0.86	-0.96	-0.48
Dividend Per Share	0.100	0.100	0.100	0.100	-	0.030
Gross Margin	35.37%	32.63%	32.31%	30.76%	28.29%	29.10%
Operating Margin	16.07%	13.79%	15.19%	14.91%	12.44%	12.92%
Profit Margin	8.85%	7.57%	10.40%	10.88%	8.71%	8.47%
Free Cash Flow Margin	9.79%	8.20%	-7.12%	-22.97%	-26.99%	-13.61%
EBITDA	1,183	987.87	976.48	815.04	626.52	571.97
EBITDA Margin	25.92%	23.33%	23.44%	21.71%	17.98%	18.86%
D&A For EBITDA	449.39	404.01	343.49	255.2	192.89	180.08
EBIT	733.98	583.87	632.99	559.84	433.63	391.89
EBIT Margin	16.07%	13.79%	15.19%	14.91%	12.44%	12.92%
Effective Tax Rate	12.93%	12.33%	8.92%	8.41%	13.54%	13.04%
Revenue as Reported	4,566	4,235	4,167	3,754	3,485	3,032
Advertising Expenses	-	20.79	15.52	7.78	-	-

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