Pharmaron Beijing Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Operating Revenue	15,226	14,073	12,269	11,533	10,240	7,419
Other Revenue	23.21	21.9	6.4	4.61	26.19	24.48
Revenue	15,250	14,095	12,276	11,538	10,266	7,444
Revenue Growth	16.30%	14.82%	6.39%	12.39%	37.92%	45.00%
Cost of Revenue	10,064	9,205	8,091	7,422	6,502	4,768
Gross Profit	5,186	4,890	4,184	4,116	3,764	2,676
Selling, General & Admin	2,202	2,043	1,843	1,859	1,728	1,022
Research & Development	621.39	576.02	469.26	448.28	282.32	151.77
Other Operating Expenses	191.29	145.95	109.7	82.75	66.52	44.04
Operating Expenses	3,075	2,845	2,465	2,426	2,098	1,229
Operating Income	2,111	2,045	1,719	1,690	1,667	1,448
Interest Expense	-198.6	-192.81	-243.72	-182.19	-167.31	-83.07
Interest & Investment Income	73.52	39.39	615.7	78.95	109.74	371.99
Currency Exchange Gain (Loss)	-82.27	2.65	31.43	147	-42.39	-3.16
Other Non Operating Income (Expenses)	-2.75	-5.32	-4.22	-3.61	-2.54	-1.39
EBT Excluding Unusual Items	1,901	1,889	2,118	1,730	1,564	1,732
Impairment of Goodwill	-	-	-73.54	-	-	-
Gain (Loss) on Sale of Investments	14.49	-35.97	1.54	18.75	68.09	119.59
Gain (Loss) on Sale of Assets	-6.11	-20	-33.67	-9.15	-15.3	-4.25
Other Unusual Items	116.97	79.37	78.51	98.48	49.5	63.73
Pretax Income	2,026	1,913	2,091	1,838	1,666	1,911
Income Tax Expense	411.87	357.52	377.1	256.11	314.25	290.92
Earnings From Continuing Operations	1,614	1,555	1,714	1,582	1,352	1,620
Minority Interest in Earnings	98.44	108.71	79.19	19.32	22.47	40.95
Net Income	1,713	1,664	1,793	1,601	1,375	1,661
Net Income to Common	1,713	1,664	1,793	1,601	1,375	1,661
Net Income Growth	23.99%	-7.22%	12.01%	16.48%	-17.24%	41.68%
Shares Outstanding (Basic)	1,788	1,762	1,770	1,772	1,774	1,781
Shares Outstanding (Diluted)	1,802	1,771	1,773	1,775	1,776	1,820
Shares Change	1.96%	-0.11%	-0.11%	-0.05%	-2.40%	1.97%
EPS (Basic)	0.96	0.94	1.01	0.90	0.78	0.93
EPS (Diluted)	0.95	0.94	1.01	0.90	0.77	0.91
EPS Growth	21.60%	-7.12%	12.13%	16.54%	-15.21%	38.94%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Free Cash Flow	14.16	551.97	536.02	-111.78	-807.04	-34.78
Free Cash Flow Per Share	0.01	0.31	0.30	-0.06	-0.45	-0.02
Dividend Per Share	0.200	0.200	0.200	0.200	0.200	0.200
Dividend Growth	0%	0%	0%	0%	0%	50.04%
Gross Margin	34.01%	34.70%	34.09%	35.67%	36.67%	35.95%
Operating Margin	13.84%	14.51%	14.01%	14.64%	16.23%	19.45%
Profit Margin	11.23%	11.80%	14.61%	13.88%	13.39%	22.31%
Free Cash Flow Margin	0.09%	3.92%	4.37%	-0.97%	-7.86%	-0.47%
EBITDA	3,223	3,052	2,597	2,431	2,227	1,852
EBITDA Margin	21.13%	21.65%	21.16%	21.07%	21.70%	24.88%
D&A For EBITDA	1,112	1,007	878.18	741.2	560.76	404.64
EBIT	2,111	2,045	1,719	1,690	1,667	1,448
EBIT Margin	13.84%	14.51%	14.01%	14.64%	16.23%	19.45%
Effective Tax Rate	20.33%	18.69%	18.03%	13.94%	18.86%	15.22%
Revenue as Reported	15,250	14,095	12,276	11,538	10,266	7,444