Hengbo Holdings 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	Dec '21 Dec 31, 2021
Operating Revenue	1,177	1,101	837.95	756.75	687.41	589.05
Other Revenue	38.63	38.63	27.16	28.67	25.64	44.09
Revenue	1,215	1,140	865.11	785.43	713.04	633.14
Revenue Growth (YoY)	35.62%	31.72%	10.14%	10.15%	12.62%	10.43%
Cost of Revenue	899.56	820.45	593.04	544.81	483.85	421.15
Gross Profit	315.81	319.12	272.07	240.62	229.19	211.99
Selling, General & Admin	110.52	106.13	81.71	75.13	67.26	62.64
Research & Development	67.85	65.61	52.59	45.71	41.25	38.6
Other Operating Expenses	3.9	2.78	1.35	4.87	6.49	6.12
Operating Expenses	184.04	176.3	137.64	126.96	118.24	109.65
Operating Income	131.77	142.82	134.43	113.66	110.94	102.35
Interest Expense	-0.16	-0.16	-0.73	-0.12	-0.07	-1.32
Interest & Investment Income	6.37	7.11	13.71	8.03	0.88	1.48
Currency Exchange Gain (Loss)	-1.89	-1.89	0.24	0.19	0.77	2.21
Other Non Operating Income (Expenses)	1.93	-0.05	-0.35	-0.46	0.72	2.1
EBT Excluding Unusual Items	138.02	147.84	147.31	121.3	113.24	106.81
Gain (Loss) on Sale of Investments	0.58	0.29	5.15	1.99	-	-0
Gain (Loss) on Sale of Assets	-0.92	-0.92	-0.14	-0.82	-1.15	-0.03
Asset Writedown	-1.09	-0.45	-0.31	-1.22	-0.04	-0.13
Other Unusual Items	5.11	5.11	1.72	9.86	4.19	1.25
Pretax Income	141.7	151.87	153.72	131.11	116.25	107.9
Income Tax Expense	13.27	15.49	22.68	16.38	12.37	12.52
Net Income	129.91	136.38	131.05	114.72	103.88	95.38
Net Income to Common	129.91	136.38	131.05	114.72	103.88	95.38
Net Income Growth	-3.43%	4.07%	14.23%	10.44%	8.91%	47.32%
Shares Outstanding (Basic)	102	102	102	90	78	78
Shares Outstanding (Diluted)	102	102	102	90	78	78
Shares Change (YoY)	1.16%	0.18%	12.46%	16.53%	0.03%	4.97%
EPS (Basic)	1.27	1.34	1.29	1.27	1.34	1.23
EPS (Diluted)	1.27	1.34	1.29	1.27	1.34	1.23
EPS Growth	-4.53%	3.88%	1.57%	-5.22%	8.94%	40.27%
Free Cash Flow	-235.96	-274.97	-118.72	38.48	15.72	66.52
Free Cash Flow Per Share	-2.31	-2.70	-1.17	0.43	0.20	0.86
Dividend Per Share	0.300	0.300	0.420	0.400	-	-
Dividend Growth	-28.57%	-28.57%	5.00%	-	-	-
Gross Margin	25.99%	28.00%	31.45%	30.64%	32.14%	33.48%
Operating Margin	10.84%	12.53%	15.54%	14.47%	15.56%	16.16%
Profit Margin	10.69%	11.97%	15.15%	14.61%	14.57%	15.06%
Free Cash Flow Margin	-19.41%	-24.13%	-13.72%	4.90%	2.20%	10.51%
EBITDA	173.61	183.13	168.6	138.64	132.85	123.16
EBITDA Margin	14.29%	16.07%	19.49%	17.65%	18.63%	19.45%
D&A For EBITDA	41.84	40.31	34.17	24.98	21.91	20.81
EBIT	131.77	142.82	134.43	113.66	110.94	102.35
EBIT Margin	10.84%	12.53%	15.54%	14.47%	15.56%	16.16%
Effective Tax Rate	9.37%	10.20%	14.75%	12.50%	10.64%	11.60%
Revenue as Reported	1,140	1,140	865.11	785.43	713.04	-
Advertising Expenses	-	0.27	0.29	0.64	1.05	1.81

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