Zhejiang Hengwei Battery 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	603.2	698.37	585.18	577.17	545.54
Other Revenue	-	3.67	2.94	3.1	1.35
Revenue	603.2	702.04	588.12	580.27	546.89
Revenue Growth (YoY)	-14.08%	19.37%	1.35%	6.10%	12.59%
Cost of Revenue	472.03	531.05	425.09	433.99	410.76
Gross Profit	131.17	171	163.03	146.28	136.14
Selling, General & Admin	34.14	28.12	23.06	20.6	17.22
Research & Development	19.59	22.42	21.05	20.45	18.84
Other Operating Expenses	1.61	3.61	2.94	2.01	1.81
Operating Expenses	55.34	57	47.87	43.14	38.72
Operating Income	75.84	114	115.16	103.14	97.42
Interest Expense	-	-0.02	-0.02	-0.02	-
Interest & Investment Income	5.93	27.64	28.36	20.12	4.68
Currency Exchange Gain (Loss)	-	6.55	-2.78	12.3	-3.65
Other Non Operating Income (Expenses)	10.33	-0.33	-0.57	-0.51	-0.61
EBT Excluding Unusual Items	92.09	147.83	140.15	135.03	97.84
Gain (Loss) on Sale of Investments	-	-0.65	-2.62	-	-
Gain (Loss) on Sale of Assets	-0.01	0.02	-0.14	0	-
Asset Writedown	-0.22	-0.3	-0.16	-	-0.05
Other Unusual Items	-	1.99	2.99	5.79	4.25
Pretax Income	91.86	148.9	140.25	140.82	102.03
Income Tax Expense	8.49	19.22	18.59	18.09	12.36
Net Income	83.38	129.67	121.66	122.73	89.67
Net Income to Common	83.38	129.67	121.66	122.73	89.67
Net Income Growth	-35.70%	6.59%	-0.88%	36.86%	-6.43%
Shares Outstanding (Basic)	100	101	101	95	76
Shares Outstanding (Diluted)	100	101	101	95	76
Shares Change (YoY)	-0.06%	-0.85%	6.56%	25.18%	0.71%
EPS (Basic)	0.83	1.29	1.20	1.29	1.18
EPS (Diluted)	0.83	1.29	1.20	1.29	1.18
EPS Growth	-35.66%	7.50%	-6.98%	9.33%	-7.09%
Free Cash Flow	3.86	-56.87	29.63	108.2	52.99
Free Cash Flow Per Share	0.04	-0.57	0.29	1.14	0.70
Dividend Per Share	-	0.300	0.300	0.500	-
Dividend Growth	-	-	-40.00%	-	-
Gross Margin	21.75%	24.36%	27.72%	25.21%	24.89%
Operating Margin	12.57%	16.24%	19.58%	17.77%	17.81%
Profit Margin	13.82%	18.47%	20.69%	21.15%	16.40%
Free Cash Flow Margin	0.64%	-8.10%	5.04%	18.65%	9.69%
EBITDA	96.85	127.08	125.89	113.39	107.21
EBITDA Margin	16.05%	18.10%	21.41%	19.54%	19.60%
D&A For EBITDA	21.01	13.08	10.73	10.25	9.79
EBIT	75.84	114	115.16	103.14	97.42
EBIT Margin	12.57%	16.24%	19.58%	17.77%	17.81%
Effective Tax Rate	9.24%	12.91%	13.26%	12.85%	12.11%
Revenue as Reported	-	702.04	588.12	580.27	546.89
Advertising Expenses	-	0.87	0.23	0.03	0.06

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