Qingdao Kutesmart 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	656.26	693.92	729.76	596.1	565.98
Other Revenue	-	14.65	17.17	20.28	26.97
Revenue	656.26	708.57	746.93	616.38	592.95
Revenue Growth (YoY)	-7.38%	-5.14%	21.18%	3.95%	-5.25%
Cost of Revenue	361.95	455.45	440.6	372.24	381.77
Gross Profit	294.32	253.11	306.33	244.14	211.18
Selling, General & Admin	171.94	133.8	136.84	119.05	125.97
Research & Development	29.32	33.07	43.07	40.21	21.78
Other Operating Expenses	1.53	9.05	8.68	8.17	7.87
Operating Expenses	202.78	178.78	189.57	167.12	155.1
Operating Income	91.53	74.34	116.76	77.03	56.09
Interest Expense	-	-5.5	-11	-8.02	-1.75
Interest & Investment Income	-	116.64	23.37	14.87	10.73
Currency Exchange Gain (Loss)	-	2.99	0.15	0.52	-0.88
Other Non Operating Income (Expenses)	-2.18	-0.16	-0.15	-0.4	-0.13
EBT Excluding Unusual Items	89.35	188.32	129.13	84	64.06
Gain (Loss) on Sale of Investments	-26.28	0.35	0.53	-0.51	2.4
Gain (Loss) on Sale of Assets	-0.02	-48.45	-0.98	3.87	0.15
Asset Writedown	-7.93	0	-15.26	-2.66	-
Other Unusual Items	-	5.61	5.56	8.31	9.57
Pretax Income	55.12	145.82	118.97	93.01	76.18
Income Tax Expense	18.41	52.09	11.62	8.35	14.8
Earnings From Continuing Operations	36.71	93.73	107.35	84.66	61.38
Minority Interest in Earnings	0.46	-5.1	4.43	0.67	-
Net Income	37.17	88.63	111.78	85.33	61.38
Net Income to Common	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)	248	240	238	237	236
Shares Outstanding (Diluted)	248	240	238	237	236
Shares Change (YoY)	3.45%	0.72%	0.34%	0.39%	14.03%
EPS (Basic)	0.15	0.37	0.47	0.36	0.26
EPS (Diluted)	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	-25.26	28.05	-11.86	84.98	43.15
Free Cash Flow Per Share	-0.10	0.12	-0.05	0.36	0.18
Dividend Per Share	-	0.100	0.050	0.036	0.032
Dividend Growth	-	100.00%	38.89%	12.50%	77.78%
Gross Margin	44.85%	35.72%	41.01%	39.61%	35.62%
Operating Margin	13.95%	10.49%	15.63%	12.50%	9.46%
Profit Margin	5.66%	12.51%	14.96%	13.84%	10.35%
Free Cash Flow Margin	-3.85%	3.96%	-1.59%	13.79%	7.28%
EBITDA	134.14	114.34	157.85	117.59	92.56
EBITDA Margin	20.44%	16.14%	21.13%	19.08%	15.61%
D&A For EBITDA	42.6	40.01	41.1	40.57	36.48
EBIT	91.53	74.34	116.76	77.03	56.09
EBIT Margin	13.95%	10.49%	15.63%	12.50%	9.46%
Effective Tax Rate	33.40%	35.72%	9.77%	8.98%	19.43%
Revenue as Reported	-	708.57	746.93	616.38	592.95
Advertising Expenses	-	5.43	6.51	6.02	10.76

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