Acrel 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	2015 - 2019
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	2015 - 2019
Operating Revenue	1,083	1,062	1,119	1,011	1,015	716.15	Upgrade
Other Revenue	1.15	1.15	2.66	7.63	1.62	2.6	Upgrade
Revenue	1,085	1,063	1,122	1,019	1,017	718.75	Upgrade
Revenue Growth (YoY)	2.07%	-5.24%	10.17%	0.16%	41.49%	19.75%	Upgrade
Cost of Revenue	587.88	589	605.41	548.65	552.08	383.36	Upgrade
Gross Profit	496.64	474.36	516.75	469.93	464.9	335.39	Upgrade
Selling, General & Admin	212.65	211.4	228.18	204.49	195.73	155.73	Upgrade
Research & Development	107.76	116.36	127.98	121.13	112.45	75.58	Upgrade
Other Operating Expenses	-18.24	-20.91	-26.73	-21.03	-17.65	-13.82	Upgrade
Operating Expenses	304.66	309	331.84	307.51	291.63	220.82	Upgrade
Operating Income	191.98	165.36	184.91	162.42	173.27	114.57	Upgrade
Interest & Investment Income	19.84	15.09	28.41	10.66	8.62	11.09	Upgrade
Currency Exchange Gain (Loss)	0.43	0.43	-0.07	0	-0.03	-0	Upgrade
Other Non Operating Income (Expenses)	0.58	-0.26	-0.09	-0.01	-0.44	-0.4	Upgrade
EBT Excluding Unusual Items	212.84	180.62	213.16	173.06	181.42	125.25	Upgrade
Gain (Loss) on Sale of Investments	2.14	0.54	0.33	-0.42	1.6	-	Upgrade
Gain (Loss) on Sale of Assets	1.97	1.91	-2.06	-0	0.16	0.54	Upgrade
Asset Writedown	0.38	-0.17	-0.06	-0.06	-0.48	-0.04	Upgrade
Other Unusual Items	2.87	2.86	12.01	11.73	7.28	4.14	Upgrade
Pretax Income	220.2	185.75	223.39	184.32	189.98	129.89	Upgrade
Income Tax Expense	16.71	16.08	22.18	13.73	19.92	8.45	Upgrade
Earnings From Continuing Operations	203.48	169.67	201.21	170.59	170.07	121.44	Upgrade
Minority Interest in Earnings	0.12	0.16	0.19	0.02	-	-	Upgrade
Net Income	203.6	169.83	201.4	170.61	170.07	121.44	Upgrade
Net Income to Common	203.6	169.83	201.4	170.61	170.07	121.44	Upgrade
Net Income Growth	9.47%	-15.68%	18.05%	0.32%	40.04%	7.21%	Upgrade
Shares Outstanding (Basic)	229	212	212	208	202	202	Upgrade
Shares Outstanding (Diluted)	229	212	212	211	207	206	Upgrade
Shares Change (YoY)	8.17%	-0.22%	0.65%	1.56%	0.76%	-1.88%	Upgrade
EPS (Basic)	0.89	0.80	0.95	0.82	0.84	0.60	Upgrade
EPS (Diluted)	0.89	0.80	0.95	0.81	0.82	0.59	Upgrade
EPS Growth	0.90%	-15.79%	17.28%	-1.22%	38.98%	9.26%	Upgrade
Free Cash Flow	166.51	228.18	221.94	133.81	83.1	-62.76	Upgrade
Free Cash Flow Per Share	0.73	1.08	1.05	0.64	0.40	-0.30	Upgrade
Dividend Per Share	0.401	0.401	0.300	0.200	0.200	0.200	Upgrade
Dividend Growth	0.23%	33.63%	50.00%	-	-	-	Upgrade
Gross Margin	45.79%	44.61%	46.05%	46.14%	45.71%	46.66%	Upgrade
Operating Margin	17.70%	15.55%	16.48%	15.95%	17.04%	15.94%	Upgrade
Profit Margin	18.77%	15.97%	17.95%	16.75%	16.72%	16.90%	Upgrade
Free Cash Flow Margin	15.35%	21.46%	19.78%	13.14%	8.17%	-8.73%	Upgrade
EBITDA	219.01	193.05	213.48	186.76	195.23	135.12	Upgrade
EBITDA Margin	20.19%	18.15%	19.02%	18.34%	19.20%	18.80%	Upgrade
D&A For EBITDA	27.02	27.69	28.58	24.34	21.96	20.55	Upgrade
EBIT	191.98	165.36	184.91	162.42	173.27	114.57	Upgrade
EBIT Margin	17.70%	15.55%	16.48%	15.95%	17.04%	15.94%	Upgrade
Effective Tax Rate	7.59%	8.66%	9.93%	7.45%	10.48%	6.51%	Upgrade
Revenue as Reported	1,085	1,063	1,122	1,019	1,017	718.75	Upgrade
Advertising Expenses	-	8.77	9.62	9.56	9.5	3.16	Upgrade

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