T&S Communications Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	1,547	1,378	884.46	931.68	644.22
Other Revenue	0.01	0.01	0.31	1.82	2.1
Revenue	1,547	1,378	884.78	933.51	646.33
Revenue Growth (YoY)	12.26%	55.73%	-5.22%	44.43%	12.67%
Cost of Revenue	981.55	919.64	640.15	646.05	474.54
Gross Profit	565.2	458.18	244.62	287.46	171.79
Selling, General & Admin	143.02	118.24	64.25	80.44	56.91
Research & Development	76.61	70.64	55.3	67.18	36.46
Other Operating Expenses	7.02	7.44	-1.12	1.78	4.85
Operating Expenses	235.3	200.32	125.61	153.81	100.38
Operating Income	329.91	257.86	119.01	133.65	71.41
Interest Expense	-0.26	-0.08	-0.03	-0.05	-0.04
Interest & Investment Income	33.47	23.07	22.65	6.12	8.65
Currency Exchange Gain (Loss)	-13.27	12.81	9.54	58.06	-13.14
Other Non Operating Income (Expenses)	-6.89	-0.98	-0.31	-0.13	-0.04
EBT Excluding Unusual Items	342.96	292.68	150.86	197.64	66.84
Gain (Loss) on Sale of Investments	2.88	5.06	4.8	-1.37	-
Gain (Loss) on Sale of Assets	-	-	-	-	0.46
Asset Writedown	-0.26	-0.2	-0.37	-0.87	-0.58
Legal Settlements	-0.67	-	-	-	-
Other Unusual Items	4.55	6.01	8.8	6.23	11.07
Pretax Income	349.45	303.54	164.09	201.63	77.79
Income Tax Expense	41.86	33.73	12.34	23.2	7.17
Earnings From Continuing Operations	307.59	269.81	151.75	178.43	70.63
Minority Interest in Earnings	-8.63	-8.55	3.34	1.61	1.13
Net Income	298.96	261.26	155.09	180.04	71.76
Net Income to Common	298.96	261.26	155.09	180.04	71.76
Net Income Growth	14.43%	68.45%	-13.86%	150.91%	-5.10%
Shares Outstanding (Basic)	226	227	225	222	224
Shares Outstanding (Diluted)	226	227	225	228	224
Shares Change (YoY)	-0.30%	1.07%	-1.38%	1.63%	-2.14%
EPS (Basic)	1.32	1.15	0.69	0.81	0.32
EPS (Diluted)	1.32	1.15	0.69	0.79	0.32
EPS Growth	14.78%	66.67%	-12.66%	146.88%	-3.03%
Free Cash Flow	100.22	127.44	104.85	80.66	45.02
Free Cash Flow Per Share	0.44	0.56	0.47	0.35	0.20
Dividend Per Share	1.000	0.800	0.500	0.500	0.300
Dividend Growth	25.00%	60.00%	-	66.67%	-
Gross Margin	36.54%	33.25%	27.65%	30.79%	26.58%
Operating Margin	21.33%	18.71%	13.45%	14.32%	11.05%
Profit Margin	19.33%	18.96%	17.53%	19.29%	11.10%
Free Cash Flow Margin	6.48%	9.25%	11.85%	8.64%	6.97%
EBITDA	363.31	290.53	154.61	168.22	103.81
EBITDA Margin	23.49%	21.09%	17.47%	18.02%	16.06%
D&A For EBITDA	33.4	32.66	35.6	34.57	32.4
EBIT	329.91	257.86	119.01	133.65	71.41
EBIT Margin	21.33%	18.71%	13.45%	14.32%	11.05%
Effective Tax Rate	11.98%	11.11%	7.52%	11.51%	9.21%
Revenue as Reported	1,547	1,378	884.78	933.51	646.33
Advertising Expenses	1.49	1.59	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.