Zhang Xiaoquan 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	Jan '22 Jan 1, 2022
Operating Revenue	1,100	1,015	902.01	805.6	818.02	753.39
Other Revenue	6.53	6.53	5.83	5.88	8.53	6.65
Revenue	1,107	1,022	907.84	811.48	826.55	760.04
Revenue Growth	16.50%	12.55%	11.87%	-1.82%	8.75%	32.81%
Cost of Revenue	717.08	659.42	588.31	527.84	530.13	469.72
Gross Profit	389.66	362.39	319.53	283.64	296.42	290.32
Selling, General & Admin	284.6	267.09	247.57	221.07	213.58	169.81
Research & Development	29.42	27.41	27.88	26.36	24.38	22.88
Other Operating Expenses	9.38	7.51	6.2	5.95	6.5	4.89
Operating Expenses	324.05	302.66	285.03	252.82	245.09	198.65
Operating Income	65.61	59.73	34.49	30.82	51.34	91.68
Interest Expense	-0.08	-0.08	-0.32	-0.43	-0.87	-0.53
Interest & Investment Income	1.78	1.17	1.87	1.93	2.14	3.29
Currency Exchange Gain (Loss)	-0.01	-0.01	0.19	-0.17	-0.01	-0.07
Other Non Operating Income (Expenses)	-0.04	-0.27	-0.24	-0.23	0.26	-0.19
EBT Excluding Unusual Items	67.26	60.54	35.98	31.92	52.85	94.17
Gain (Loss) on Sale of Investments	4.34	3.73	1.34	1.69	-	-
Gain (Loss) on Sale of Assets	0.4	0.4	-0.03	0.23	-0.08	0.03
Asset Writedown	2.93	-0.03	-0.02	-0.06	-0.01	-0.02
Other Unusual Items	1.71	1.71	2.23	5.17	6.51	4.36
Pretax Income	76.66	66.35	39.51	38.94	59.27	98.53
Income Tax Expense	8.61	6.52	7.97	10.75	17.19	19.8
Earnings From Continuing Operations	68.04	59.83	31.54	28.2	42.08	78.73
Minority Interest in Earnings	-5.79	-4.77	-6.5	-3.08	-0.57	-
Net Income	62.25	55.06	25.04	25.12	41.51	78.73
Net Income to Common	62.25	55.06	25.04	25.12	41.51	78.73
Net Income Growth	54.53%	119.87%	-0.30%	-39.48%	-47.28%	1.96%
Shares Outstanding (Basic)	152	153	157	157	154	129
Shares Outstanding (Diluted)	152	153	157	157	154	129
Shares Change	-2.76%	-2.28%	-0.30%	2.12%	19.11%	10.32%
EPS (Basic)	0.41	0.36	0.16	0.16	0.27	0.61
EPS (Diluted)	0.41	0.36	0.16	0.16	0.27	0.61
EPS Growth	58.91%	125.00%	0%	-40.74%	-55.74%	-7.58%

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	Jan '22 Jan 1, 2022
Free Cash Flow	173.83	133.91	89.5	89.16	70.26	-12.03
Free Cash Flow Per Share	1.14	0.88	0.57	0.57	0.46	-0.09
Dividend Per Share	0.300	0.300	0.120	0.150	0.250	0.500
Dividend Growth	150.00%	150.00%	-20.00%	-40.00%	-50.00%	-
Gross Margin	35.21%	35.47%	35.20%	34.95%	35.86%	38.20%
Operating Margin	5.93%	5.85%	3.80%	3.80%	6.21%	12.06%
Profit Margin	5.63%	5.39%	2.76%	3.09%	5.02%	10.36%
Free Cash Flow Margin	15.71%	13.11%	9.86%	10.99%	8.50%	-1.58%
EBITDA	94.05	88.23	64.04	69.86	79.85	109.27
EBITDA Margin	8.50%	8.63%	7.05%	8.61%	9.66%	14.38%
D&A For EBITDA	28.44	28.5	29.55	39.04	28.52	17.59
EBIT	65.61	59.73	34.49	30.82	51.34	91.68
EBIT Margin	5.93%	5.85%	3.80%	3.80%	6.21%	12.06%
Effective Tax Rate	11.24%	9.83%	20.18%	27.59%	29.01%	20.09%
Revenue as Reported	1,022	1,022	907.84	811.48	826.55	760.04
Advertising Expenses	-	-	-	-	7.08	5.64