Cre8 Direct (NingBo) 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	2,139	1,922	1,342	1,303	1,370	1,077
Other Revenue	17.04	17.04	16.56	15.41	12.83	9.03
Revenue	2,156	1,939	1,359	1,319	1,383	1,087
Revenue Growth (YoY)	23.72%	42.73%	3.04%	-4.65%	27.28%	16.59%
Cost of Revenue	1,444	1,351	921.49	951.01	1,069	770.9
Gross Profit	711.82	588.74	437.3	367.67	314.13	315.6
Selling, General & Admin	473.66	392.84	275.63	233.28	215	166.59
Research & Development	72.09	75.23	68.19	64.85	72.52	66.27
Other Operating Expenses	13.91	12.18	10.54	13.15	8.08	7.85
Operating Expenses	560.36	483.41	357.93	310.34	291.85	249.28
Operating Income	151.47	105.33	79.36	57.33	22.28	66.33
Interest Expense	-11.74	-11.94	-12.15	-16.77	-16.77	-8.46
Interest & Investment Income	10.55	12.56	13.8	2.51	2.56	5.66
Currency Exchange Gain (Loss)	31.78	31.78	16.79	38.82	-9.7	-13.67
Other Non Operating Income (Expenses)	-10.23	-0.88	-1.65	-2.41	-2.26	-1.59
EBT Excluding Unusual Items	171.83	136.85	96.16	79.48	-3.89	48.27
Impairment of Goodwill	-	-	-2.96	-	-	-
Gain (Loss) on Sale of Investments	-0.15	-0.15	-4.34	1.54	0.77	-2.83
Gain (Loss) on Sale of Assets	0.56	0.75	0.05	0.03	0.02	4.58
Asset Writedown	-0.35	-0.18	-1.98	-1.04	-0.09	-0.07
Other Unusual Items	12.19	6.17	13.37	10.08	8.74	15.53
Pretax Income	184.08	143.44	100.31	90.08	5.55	65.48
Income Tax Expense	28.77	13.09	12.54	9.02	-9.21	7.22
Earnings From Continuing Operations	155.31	130.35	87.77	81.06	14.76	58.27
Minority Interest in Earnings	-27.42	-22.42	-11.03	-6.12	-5.29	-6.44
Net Income	127.89	107.93	76.74	74.94	9.47	51.83
Net Income to Common	127.89	107.93	76.74	74.94	9.47	51.83
Net Income Growth	83.31%	40.65%	2.40%	691.65%	-81.73%	-56.07%
Shares Outstanding (Basic)	180	180	183	182	189	179
Shares Outstanding (Diluted)	180	180	183	182	189	179
Shares Change (YoY)	-0.90%	-1.55%	0.15%	-3.65%	5.95%	-1.53%
EPS (Basic)	0.71	0.60	0.42	0.41	0.05	0.29
EPS (Diluted)	0.71	0.60	0.42	0.41	0.05	0.29
EPS Growth	84.98%	42.86%	2.24%	721.60%	-82.76%	-55.38%
Free Cash Flow	133.21	27.92	131.07	180.23	-149.14	-161.43
Free Cash Flow Per Share	0.74	0.15	0.72	0.99	-0.79	-0.90
Dividend Per Share	0.150	0.150	0.150	0.150	0.050	0.150
Dividend Growth	-	-	-	200.00%	-66.67%	-49.99%
Gross Margin	33.02%	30.36%	32.18%	27.88%	22.71%	29.05%
Operating Margin	7.03%	5.43%	5.84%	4.35%	1.61%	6.10%
Profit Margin	5.93%	5.56%	5.65%	5.68%	0.69%	4.77%
Free Cash Flow Margin	6.18%	1.44%	9.65%	13.67%	-10.78%	-14.86%
EBITDA	199.89	153.54	127.29	106.57	64.56	101.05
EBITDA Margin	9.27%	7.92%	9.37%	8.08%	4.67%	9.30%
D&A For EBITDA	48.42	48.21	47.92	49.25	42.28	34.73
EBIT	151.47	105.33	79.36	57.33	22.28	66.33
EBIT Margin	7.03%	5.43%	5.84%	4.35%	1.61%	6.10%
Effective Tax Rate	15.63%	9.12%	12.50%	10.01%	-	11.02%
Revenue as Reported	2,156	1,939	1,359	1,319	1,383	1,087
Advertising Expenses	-	87.14	47.5	30.54	26.24	13.52

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