Zhejiang Hengwei Battery 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	657.63	698.37	585.18	577.17	545.54	483.73
Other Revenue	3.67	3.67	2.94	3.1	1.35	2.01
Revenue	661.3	702.04	588.12	580.27	546.89	485.73
Revenue Growth (YoY)	-0.97%	19.37%	1.35%	6.10%	12.59%	50.84%
Cost of Revenue	524.71	531.05	425.09	433.99	410.76	339.1
Gross Profit	136.59	171	163.03	146.28	136.14	146.63
Selling, General & Admin	32.51	28.12	23.06	20.6	17.22	17.99
Research & Development	20.64	22.42	21.05	20.45	18.84	17.2
Other Operating Expenses	3.27	3.61	2.94	2.01	1.81	-3.22
Operating Expenses	54.42	57	47.87	43.14	38.72	32.26
Operating Income	82.17	114	115.16	103.14	97.42	114.37
Interest Expense	-0.02	-0.02	-0.02	-0.02	-	-
Interest & Investment Income	26.37	27.64	28.36	20.12	4.68	5.21
Currency Exchange Gain (Loss)	6.55	6.55	-2.78	12.3	-3.65	-9.29
Other Non Operating Income (Expenses)	0.86	-0.33	-0.57	-0.51	-0.61	-0.68
EBT Excluding Unusual Items	115.93	147.83	140.15	135.03	97.84	109.61
Gain (Loss) on Sale of Investments	-	-0.65	-2.62	-	-	1.66
Gain (Loss) on Sale of Assets	-0.01	0.02	-0.14	0	-	-0.34
Asset Writedown	-0.31	-0.3	-0.16	-	-0.05	-
Other Unusual Items	1.99	1.99	2.99	5.79	4.25	-
Pretax Income	117.6	148.9	140.25	140.82	102.03	110.93
Income Tax Expense	13.91	19.22	18.59	18.09	12.36	15.09
Net Income	103.69	129.67	121.66	122.73	89.67	95.84
Net Income to Common	103.69	129.67	121.66	122.73	89.67	95.84
Net Income Growth	-13.51%	6.59%	-0.88%	36.86%	-6.43%	47.80%
Shares Outstanding (Basic)	100	101	101	95	76	75
Shares Outstanding (Diluted)	100	101	101	95	76	75
Shares Change (YoY)	-1.81%	-0.85%	6.56%	25.18%	0.71%	0.08%
EPS (Basic)	1.04	1.29	1.20	1.29	1.18	1.27
EPS (Diluted)	1.04	1.29	1.20	1.29	1.18	1.27
EPS Growth	-11.92%	7.50%	-6.98%	9.33%	-7.09%	47.67%
Free Cash Flow	77.42	-56.87	29.63	108.2	52.99	59.81
Free Cash Flow Per Share	0.78	-0.57	0.29	1.14	0.70	0.79
Dividend Per Share	0.300	0.300	0.300	0.500	-	-
Dividend Growth	-	-	-40.00%	-	-	-
Gross Margin	20.66%	24.36%	27.72%	25.21%	24.89%	30.19%
Operating Margin	12.43%	16.24%	19.58%	17.77%	17.81%	23.55%
Profit Margin	15.68%	18.47%	20.69%	21.15%	16.40%	19.73%
Free Cash Flow Margin	11.71%	-8.10%	5.04%	18.65%	9.69%	12.31%
EBITDA	97.02	127.08	125.89	113.39	107.21	121.76
EBITDA Margin	14.67%	18.10%	21.41%	19.54%	19.60%	25.07%
D&A For EBITDA	14.85	13.08	10.73	10.25	9.79	7.39
EBIT	82.17	114	115.16	103.14	97.42	114.37
EBIT Margin	12.43%	16.24%	19.58%	17.77%	17.81%	23.55%
Effective Tax Rate	11.83%	12.91%	13.26%	12.85%	12.11%	13.60%
Revenue as Reported	661.3	702.04	588.12	580.27	546.89	-
Advertising Expenses	-	0.87	0.23	0.03	0.06	0.14

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.