Hualan Biological Vaccine 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	1,201	1,126	2,409	1,824	1,830
Other Revenue	1.3	1.83	1.2	1.57	-
Revenue	1,203	1,128	2,410	1,826	1,830
Revenue Growth (YoY)	6.62%	-53.21%	32.03%	-0.23%	-24.59%
Cost of Revenue	325.15	286.78	382.02	369.19	354.01
Gross Profit	877.36	841.03	2,028	1,456	1,476
Selling, General & Admin	594.8	582.54	1,019	776.35	647.5
Research & Development	151.3	162.64	91.11	134.64	144.13
Other Operating Expenses	10.24	10.61	15.18	12.59	10.84
Operating Expenses	787.09	746.39	1,146	952.36	803.51
Operating Income	90.27	94.64	881.98	504.09	672.29
Interest Expense	-2.55	-6.1	-6.08	-10.69	-13.32
Interest & Investment Income	81.25	89.29	81.93	72.01	28.82
Currency Exchange Gain (Loss)	-0.05	0.06	-0.23	-0.11	0.25
Other Non Operating Income (Expenses)	-0.04	-0.08	-0.15	0.08	-0.19
EBT Excluding Unusual Items	168.88	177.81	957.44	565.37	687.85
Gain (Loss) on Sale of Investments	12.73	24.3	39.68	16.85	14.25
Gain (Loss) on Sale of Assets	-0.2	-0.14	-0.2	0.63	-
Asset Writedown	-0.1	-0.24	-0.25	-0.05	-1
Other Unusual Items	6.48	12.82	10.21	6.68	4.65
Pretax Income	187.79	214.55	1,007	589.48	705.75
Income Tax Expense	4.87	9.03	146.91	69.84	84.78
Net Income	182.92	205.52	859.97	519.63	620.97
Net Income to Common	182.92	205.52	859.97	519.63	620.97
Net Income Growth	-11.00%	-76.10%	65.50%	-16.32%	-32.86%
Shares Outstanding (Basic)	595	598	601	590	540
Shares Outstanding (Diluted)	595	598	602	590	540
Shares Change (YoY)	-0.51%	-0.71%	2.03%	9.33%	0.01%
EPS (Basic)	0.31	0.34	1.43	0.88	1.15
EPS (Diluted)	0.31	0.34	1.43	0.88	1.15
EPS Growth	-10.54%	-75.93%	62.20%	-23.46%	-32.86%
Free Cash Flow	347.43	416.45	825.42	196.01	-66.73
Free Cash Flow Per Share	0.58	0.70	1.37	0.33	-0.12
Dividend Per Share	1.400	0.200	0.600	0.200	0.133
Dividend Growth	600.00%	-66.67%	200.00%	50.04%	-
Gross Margin	72.96%	74.57%	84.15%	79.78%	80.65%
Operating Margin	7.51%	8.39%	36.59%	27.61%	36.74%
Profit Margin	15.21%	18.22%	35.68%	28.46%	33.94%
Free Cash Flow Margin	28.89%	36.93%	34.24%	10.74%	-3.65%
EBITDA	231.35	235.02	1,022	638.51	740.2
EBITDA Margin	19.24%	20.84%	42.41%	34.98%	40.45%
D&A For EBITDA	141.08	140.38	140.33	134.42	67.91
EBIT	90.27	94.64	881.98	504.09	672.29
EBIT Margin	7.51%	8.39%	36.59%	27.61%	36.74%
Effective Tax Rate	2.59%	4.21%	14.59%	11.85%	12.01%
Revenue as Reported	1,203	1,128	2,410	1,826	1,830

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.