Qingdao Kutesmart 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	Mar '26 Mar 31, 2026	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	636.32	629.66	693.92	729.76	596.1	565.98
Other Revenue	26.6	26.6	14.65	17.17	20.28	26.97
Revenue	662.92	656.26	708.57	746.93	616.38	592.95
Revenue Growth (YoY)	-4.82%	-7.38%	-5.14%	21.18%	3.95%	-5.25%
Cost of Revenue	376.85	371.38	455.45	440.6	372.24	381.77
Gross Profit	286.07	284.89	253.11	306.33	244.14	211.18
Selling, General & Admin	185.77	170.51	133.8	136.84	119.05	125.97
Research & Development	29.1	29.32	33.07	43.07	40.21	21.78
Other Operating Expenses	11.47	9.18	9.05	8.68	8.17	7.87
Operating Expenses	228.43	212.28	175.93	189.57	167.12	155.1
Operating Income	57.65	72.61	77.19	116.76	77.03	56.09
Interest Expense	-1.29	-1.46	-5.5	-11	-8.02	-1.75
Interest & Investment Income	9.02	8.37	116.64	23.37	14.87	10.73
Currency Exchange Gain (Loss)	-3.32	-3.32	2.99	0.15	0.52	-0.88
Other Non Operating Income (Expenses)	-3.03	-0.48	-3	-0.15	-0.4	-0.13
EBT Excluding Unusual Items	59.03	75.71	188.32	129.13	84	64.06
Gain (Loss) on Sale of Investments	-13.1	-26.28	0.35	0.53	-0.51	2.4
Gain (Loss) on Sale of Assets	-0.03	-0.03	-48.45	-0.98	3.87	0.15
Asset Writedown	-1.22	-	-	-15.26	-2.66	-
Other Unusual Items	7.08	5.72	5.61	5.56	8.31	9.57
Pretax Income	51.76	55.12	145.82	118.97	93.01	76.18
Income Tax Expense	18.14	18.41	52.09	11.62	8.35	14.8
Earnings From Continuing Operations	33.61	36.71	93.73	107.35	84.66	61.38
Minority Interest in Earnings	0.58	0.46	-5.1	4.43	0.67	-
Net Income	34.19	37.17	88.63	111.78	85.33	61.38
Net Income to Common	34.19	37.17	88.63	111.78	85.33	61.38
Net Income Growth	-	-58.06%	-20.71%	31.00%	39.01%	28.91%
Shares Outstanding (Basic)	246	248	240	238	237	236
Shares Outstanding (Diluted)	246	248	240	238	237	236
Shares Change (YoY)	0.65%	3.45%	0.72%	0.34%	0.39%	14.03%
EPS (Basic)	0.14	0.15	0.37	0.47	0.36	0.26
EPS (Diluted)	0.14	0.15	0.37	0.47	0.36	0.26
EPS Growth	-	-59.46%	-21.28%	30.56%	38.46%	13.04%
Free Cash Flow	-11.31	-25.26	28.05	-11.86	84.98	43.15
Free Cash Flow Per Share	-0.05	-0.10	0.12	-0.05	0.36	0.18
Dividend Per Share	0.100	0.100	0.100	0.050	0.036	0.032
Dividend Growth	-	-	100.00%	38.89%	12.50%	77.78%
Gross Margin	43.15%	43.41%	35.72%	41.01%	39.61%	35.62%
Operating Margin	8.70%	11.06%	10.89%	15.63%	12.50%	9.46%
Profit Margin	5.16%	5.66%	12.51%	14.96%	13.84%	10.35%
Free Cash Flow Margin	-1.71%	-3.85%	3.96%	-1.59%	13.79%	7.28%
EBITDA	90.56	108.25	123.74	157.85	117.59	92.56
EBITDA Margin	13.66%	16.50%	17.46%	21.13%	19.08%	15.61%
D&A For EBITDA	32.92	35.64	46.56	41.1	40.57	36.48
EBIT	57.65	72.61	77.19	116.76	77.03	56.09
EBIT Margin	8.70%	11.06%	10.89%	15.63%	12.50%	9.46%
Effective Tax Rate	35.06%	33.40%	35.72%	9.77%	8.98%	19.43%
Revenue as Reported	662.92	656.26	708.57	746.93	616.38	592.95
Advertising Expenses	-	8.77	5.43	6.51	6.02	10.76

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