AAPG 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	574.12	980.65	221.98	209.71	27.91
Revenue Growth (YoY)	-41.45%	341.77%	5.85%	651.38%	124.18%
Cost of Revenue	48.94	29.09	30.54	22	3.33
Gross Profit	525.18	951.57	191.44	187.71	24.58
Selling, General & Admin	599.92	383.12	376.46	328.02	191.26
Research & Development	1,137	947.25	706.97	743.1	766.49
Other Operating Expenses	73.6	9.08	5.2	17.67	50.4
Total Operating Expenses	1,811	1,339	1,089	1,089	1,008
Operating Income	-1,286	-387.88	-897.2	-901.08	-983.57
Interest Income	0.31	-0.28	1.08	-0.28	-
Interest Expense	-54.07	-64.46	-96.06	-52.79	-16.73
Other Non-Operating Income (Expense)	103.5	57.36	59.32	66.97	168.06
Total Non-Operating Income (Expense)	49.74	-7.38	-35.67	13.91	151.33
Pretax Income	-1,236	-395.26	-932.86	-887.17	-832.25
Provision for Income Taxes	-	10.43	-	-4.25	-49.83
Net Income	-1,243	-405.43	-925.64	-882.92	-782.42
Minority Interest in Earnings	-0.22	-0.25	-0.08	-	-
Net Income to Common	-1,243	-405.43	-925.64	-882.92	-782.42
Shares Outstanding (Basic)	89	76	71	66	64
Shares Outstanding (Diluted)	89	76	71	66	64
Shares Change (YoY)	17.90%	7.00%	7.06%	3.56%	17.93%
EPS (Basic)	-13.96	-5.36	-13.12	-13.40	-12.28
EPS (Diluted)	-13.96	-5.36	-13.12	-13.40	-12.28
Shares Outstanding	92.96	78.81	72.55	65.97	65.72
Free Cash Flow	0	-135.65	-772.19	-857.2	-1,036
Free Cash Flow Per Share	-	-1.80	-10.94	-13.00	-16.28
Gross Margin	91.48%	97.03%	86.24%	89.51%	88.08%
Operating Margin	-223.96%	-39.55%	-404.17%	-429.68%	-3524.09%
Profit Margin	-216.50%	-41.37%	-417.02%	-421.02%	-2803.38%
FCF Margin	0.00%	-13.83%	-347.86%	-408.75%	-3712.82%
EBITDA	-1,286	-294.71	-804	-838.17	-955.25
EBITDA Margin	-223.96%	-30.05%	-362.19%	-399.68%	-3422.60%
EBIT	-1,286	-387.88	-897.2	-901.08	-983.57
EBIT Margin	-223.96%	-39.55%	-404.17%	-429.68%	-3524.09%
Effective Tax Rate	0.00%	-2.64%	0.00%	0.48%	5.99%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q