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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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	644.19	599.97	698.37	585.18	577.17	545.54
Other Revenue	3.24	3.24	3.67	2.94	3.1	1.35
Revenue	647.43	603.2	702.04	588.12	580.27	546.89
Revenue Growth (YoY)	-7.44%	-14.08%	19.37%	1.35%	6.10%	12.59%
Cost of Revenue	506.08	474.82	531.05	425.09	433.99	410.76
Gross Profit	141.35	128.38	171	163.03	146.28	136.14
Selling, General & Admin	32.58	31.56	28.12	23.06	20.6	17.22
Research & Development	19.87	19.59	22.42	21.05	20.45	18.84
Other Operating Expenses	4.13	3.61	3.61	2.94	2.01	1.81
Operating Expenses	61.54	56.85	57.46	47.87	43.14	38.72
Operating Income	79.81	71.53	113.54	115.16	103.14	97.42
Interest Expense	-0.01	-0.01	-0.02	-0.02	-0.02	-
Interest & Investment Income	20.56	21.41	27.64	28.36	20.12	4.68
Currency Exchange Gain (Loss)	-2.51	-2.51	6.55	-2.78	12.3	-3.65
Other Non Operating Income (Expenses)	-3.75	-0.31	-0.34	-0.57	-0.51	-0.61
EBT Excluding Unusual Items	94.1	90.1	147.36	140.15	135.03	97.84
Gain (Loss) on Sale of Investments	-	-	-0.65	-2.62	-	-
Gain (Loss) on Sale of Assets	-0.02	-0.02	-0.28	-0.14	0	-
Asset Writedown	0.19	-	-	-0.16	-	-0.05
Other Unusual Items	1.79	1.79	2.47	2.99	5.79	4.25
Pretax Income	96.06	91.86	148.9	140.25	140.82	102.03
Income Tax Expense	7.75	8.49	19.22	18.59	18.09	12.36
Net Income	88.31	83.38	129.67	121.66	122.73	89.67
Net Income to Common	88.31	83.38	129.67	121.66	122.73	89.67
Net Income Growth	-23.31%	-35.70%	6.59%	-0.88%	36.86%	-6.43%
Shares Outstanding (Basic)	100	100	101	101	95	76
Shares Outstanding (Diluted)	100	100	101	101	95	76
Shares Change (YoY)	0.34%	-0.06%	-0.85%	6.56%	25.18%	0.71%
EPS (Basic)	0.88	0.83	1.29	1.20	1.29	1.18
EPS (Diluted)	0.88	0.83	1.29	1.20	1.29	1.18
EPS Growth	-23.57%	-35.66%	7.50%	-6.98%	9.33%	-7.09%
Free Cash Flow	4.08	3.86	-56.87	29.63	108.2	52.99
Free Cash Flow Per Share	0.04	0.04	-0.57	0.29	1.14	0.70
Dividend Per Share	0.500	0.500	0.300	0.300	0.500	-
Dividend Growth	66.67%	66.67%	-	-40.00%	-	-
Gross Margin	21.83%	21.28%	24.36%	27.72%	25.21%	24.89%
Operating Margin	12.33%	11.86%	16.17%	19.58%	17.77%	17.81%
Profit Margin	13.64%	13.82%	18.47%	20.69%	21.15%	16.40%
Free Cash Flow Margin	0.63%	0.64%	-8.10%	5.04%	18.65%	9.69%
EBITDA	102.08	92.06	127.12	125.89	113.39	107.21
EBITDA Margin	15.77%	15.26%	18.11%	21.41%	19.54%	19.60%
D&A For EBITDA	22.27	20.53	13.59	10.73	10.25	9.79
EBIT	79.81	71.53	113.54	115.16	103.14	97.42
EBIT Margin	12.33%	11.86%	16.17%	19.58%	17.77%	17.81%
Effective Tax Rate	8.06%	9.24%	12.91%	13.26%	12.85%	12.11%
Revenue as Reported	647.43	603.2	702.04	588.12	580.27	546.89
Advertising Expenses	-	0.75	0.87	0.23	0.03	0.06

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