QC Solar Corporation (SHE:301278)

QC Solar Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Jan 1, 2022	Jan 1, 2021
Operating Revenue	953.81	898.87	1,280	1,097	732.08	500.06
Other Revenue	4.52	4.52	5.36	2.15	3.79	3.29
Revenue	958.34	903.39	1,285	1,100	735.87	503.35
Revenue Growth (YoY)	-7.75%	-29.70%	16.86%	49.43%	46.20%	42.47%
Cost of Revenue	869.44	743.58	990.47	898.98	600.74	378.38
Gross Profit	88.9	159.81	294.52	200.65	135.13	124.97
Selling, General & Admin	35.76	34.92	39.68	29.23	29.51	20.99
Research & Development	35.63	39.63	57.38	37.5	28.13	25.74
Other Operating Expenses	0.99	-5.19	5.86	3.57	2.07	2.62
Operating Expenses	75.59	76.43	103.76	73.26	63.08	53.87
Operating Income	13.31	83.38	190.76	127.39	72.05	71.1
Interest Expense	-0.13	-0.13	-0.28	-0.4	-0.27	-
Interest & Investment Income	19.45	20.95	18.91	3.16	2.03	2.22
Currency Exchange Gain (Loss)	4.1	4.1	5.9	5.16	-0.99	-4.07
Other Non Operating Income (Expenses)	-4	-0.94	-1.14	-0.91	-0.87	-0.3
EBT Excluding Unusual Items	32.73	107.35	214.16	134.41	71.94	68.94
Gain (Loss) on Sale of Investments	-0.01	-0.35	-1.1	0.63	0.01	4.31
Gain (Loss) on Sale of Assets	0.01	0.58	0.84	0.23	-0.01	-0.03
Asset Writedown	1.57	-0.04	-0.05	-	-0.69	-0.48
Other Unusual Items	2.96	3.19	3.55	0.35	0.23	-1.12
Pretax Income	37.26	110.74	217.4	135.61	71.49	71.63
Income Tax Expense	7.29	11.73	23.79	17.18	6.64	7.9
Net Income	29.98	99.01	193.61	118.43	64.85	63.73
Net Income to Common	29.98	99.01	193.61	118.43	64.85	63.73
Net Income Growth	-77.97%	-48.86%	63.48%	82.62%	1.76%	53.59%
Shares Outstanding (Basic)	89	83	83	53	62	62
Shares Outstanding (Diluted)	89	83	83	53	62	62
Shares Change (YoY)	7.04%	0.13%	55.76%	-14.57%	0.26%	-0.70%
EPS (Basic)	0.34	1.19	2.33	2.22	1.04	1.02
EPS (Diluted)	0.34	1.19	2.33	2.22	1.04	1.02
EPS Growth	-79.42%	-48.93%	4.96%	113.77%	1.50%	54.66%
Free Cash Flow	-149.71	-12.92	149.85	47.86	-4.77	3.61
Free Cash Flow Per Share	-1.69	-0.15	1.80	0.90	-0.08	0.06
Dividend Per Share	0.511	0.511	0.300	0.154	-	-
Dividend Growth	70.23%	70.23%	95.06%	-	-	-
Gross Margin	9.28%	17.69%	22.92%	18.25%	18.36%	24.83%
Operating Margin	1.39%	9.23%	14.85%	11.58%	9.79%	14.12%
Profit Margin	3.13%	10.96%	15.07%	10.77%	8.81%	12.66%
Free Cash Flow Margin	-15.62%	-1.43%	11.66%	4.35%	-0.65%	0.72%
EBITDA	28.54	97.09	202.46	137.28	79.54	77.12
EBITDA Margin	2.98%	10.75%	15.76%	12.48%	10.81%	15.32%
D&A For EBITDA	15.23	13.72	11.7	9.88	7.49	6.03
EBIT	13.31	83.38	190.76	127.39	72.05	71.1
EBIT Margin	1.39%	9.23%	14.85%	11.58%	9.79%	14.12%
Effective Tax Rate	19.55%	10.59%	10.94%	12.67%	9.29%	11.04%
Revenue as Reported	958.34	903.39	1,285	1,100	735.87	503.35
Advertising Expenses	-	1.11	0.66	0.11	0.1	0.19

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