Winner Medical 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	10,724	8,896	8,124	11,258	7,976	12,438
Other Revenue	81.38	81.38	60.7	93.58	61.2	96.17
Revenue	10,805	8,978	8,185	11,351	8,037	12,534
Revenue Growth (YoY)	31.05%	9.69%	-27.89%	41.23%	-35.88%	173.99%
Cost of Revenue	5,813	4,880	4,393	6,340	4,121	5,212
Gross Profit	4,992	4,098	3,792	5,011	3,916	7,322
Selling, General & Admin	3,415	2,931	2,756	2,649	2,444	2,012
Research & Development	407.63	348.16	322.05	487.58	298.16	411.38
Other Operating Expenses	60.97	26.19	39.96	98.09	65.39	116.57
Operating Expenses	3,895	3,307	3,115	3,229	2,804	2,563
Operating Income	1,097	790.82	677.12	1,782	1,113	4,759
Interest Expense	-71.58	-54.86	-63.44	-50.04	-29.99	-3.61
Interest & Investment Income	143.07	192.48	261.26	175.38	240.42	44.93
Currency Exchange Gain (Loss)	40.19	40.19	-7.63	52.07	0.61	-239.43
Other Non Operating Income (Expenses)	-12.69	-1.2	0.68	-72.25	-4.27	-12.37
EBT Excluding Unusual Items	1,196	967.44	867.99	1,887	1,319	4,549
Impairment of Goodwill	-90.74	-90.74	-188.79	-	-	-
Gain (Loss) on Sale of Investments	-6.71	2.86	46.68	32.15	58.47	11.18
Gain (Loss) on Sale of Assets	2.92	5.88	32.2	3.73	3.25	0.01
Asset Writedown	-0.93	-16.45	-93.43	-74.78	-20.26	-124.55
Other Unusual Items	75.76	39.37	85.19	71.05	101.8	66.94
Pretax Income	1,176	908.35	749.85	1,920	1,463	4,502
Income Tax Expense	247.01	167.64	121.3	245.17	225.32	679.91
Earnings From Continuing Operations	929.34	740.71	628.55	1,674	1,237	3,823
Minority Interest in Earnings	-55.03	-45.33	-48.14	-23.62	1.88	-12.14
Net Income	874.31	695.38	580.4	1,651	1,239	3,810
Net Income to Common	874.31	695.38	580.4	1,651	1,239	3,810
Net Income Growth	-	19.81%	-64.84%	33.20%	-67.47%	597.50%
Shares Outstanding (Basic)	583	584	592	592	596	544
Shares Outstanding (Diluted)	583	584	592	592	596	545
Shares Change (YoY)	-0.69%	-1.33%	0.10%	-0.77%	9.42%	3.31%
EPS (Basic)	1.50	1.19	0.98	2.79	2.08	7.00
EPS (Diluted)	1.50	1.19	0.98	2.79	2.08	6.99
EPS Growth	-	21.43%	-64.88%	34.23%	-70.28%	575.19%
Free Cash Flow	748.83	364.87	310.26	1,784	128.42	4,194
Free Cash Flow Per Share	1.28	0.62	0.52	3.02	0.21	7.70
Dividend Per Share	0.700	0.650	0.500	1.357	0.900	1.800
Dividend Growth	-22.22%	30.00%	-63.16%	50.79%	-50.00%	-
Gross Margin	46.20%	45.65%	46.33%	44.15%	48.73%	58.42%
Operating Margin	10.15%	8.81%	8.27%	15.70%	13.84%	37.97%
Profit Margin	8.09%	7.75%	7.09%	14.54%	15.42%	30.40%
Free Cash Flow Margin	6.93%	4.06%	3.79%	15.72%	1.60%	33.46%
EBITDA	1,472	1,141	992.8	2,049	1,279	4,918
EBITDA Margin	13.63%	12.71%	12.13%	18.05%	15.92%	39.24%
D&A For EBITDA	375.41	349.81	315.68	266.49	166.69	158.62
EBIT	1,097	790.82	677.12	1,782	1,113	4,759
EBIT Margin	10.15%	8.81%	8.27%	15.70%	13.84%	37.97%
Effective Tax Rate	21.00%	18.46%	16.18%	12.77%	15.40%	15.10%
Revenue as Reported	10,805	8,978	8,185	11,351	8,037	12,534
Advertising Expenses	-	816.38	651.82	600.16	692.45	372.94

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