Yuanbao 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	4,373	3,285	2,045	850.25	385.44
Revenue Growth (YoY)	33.14%	60.60%	140.53%	120.59%	-
Cost of Revenue	167.46	166.33	137.96	62.88	63.14
Gross Profit	4,206	3,118	1,907	787.37	322.31
Selling, General & Admin	2,504	2,029	1,603	725.1	636.31
Research & Development	365.11	231.04	128.53	78.43	89.61
Operating Expenses	2,869	2,260	1,732	803.54	725.91
Operating Income	1,337	858.61	175.36	-16.17	-403.61
Interest & Investment Income	67.29	30.73	20.33	7.52	3.86
Currency Exchange Gain (Loss)	-4.25	0.32	0.86	3.53	-0.13
Other Non Operating Income (Expenses)	9.09	1.96	4.73	2.48	0.02
EBT Excluding Unusual Items	1,409	891.61	201.28	-2.64	-399.86
Other Unusual Items	-	-0.2	4.2	0.3	-
Pretax Income	1,409	891.41	205.48	-2.34	-399.86
Income Tax Expense	101.17	25.57	0.29	0.01	-
Earnings From Continuing Operations	1,308	865.85	205.19	-2.35	-399.86
Earnings From Discontinued Operations	-	-	-2.07	21.1	-41.65
Net Income	1,308	865.85	203.12	18.75	-441.51
Preferred Dividends & Other Adjustments	-700.8	429.93	536.06	454.12	776.43
Net Income to Common	2,008	435.92	-332.94	-435.37	-1,218
Net Income Growth	51.01%	326.28%	983.17%	-	-
Shares Outstanding (Basic)	36	17	12	7	3
Shares Outstanding (Diluted)	48	45	12	7	3
Shares Change (YoY)	5.38%	283.70%	60.31%	130.82%	-
EPS (Basic)	55.72	26.07	-28.25	-59.22	-382.41
EPS (Diluted)	27.44	19.15	-28.26	-59.23	-382.41
EPS Growth	43.31%	-	-	-	-
Free Cash Flow	-	1,204	437.33	85.28	-248.14
Free Cash Flow Per Share	-	26.63	37.11	11.60	-77.91
Gross Margin	96.17%	94.94%	93.25%	92.61%	83.62%
Operating Margin	30.56%	26.14%	8.57%	-1.90%	-104.71%
Profit Margin	45.92%	13.27%	-16.28%	-51.20%	-315.99%
Free Cash Flow Margin	-	36.66%	21.38%	10.03%	-64.38%
EBITDA	1,339	861.51	178.47	-14.14	-401.73
EBITDA Margin	30.63%	26.23%	8.73%	-1.66%	-104.22%
D&A For EBITDA	2.9	2.9	3.11	2.03	1.88
EBIT	1,337	858.61	175.36	-16.17	-403.61
EBIT Margin	30.56%	26.14%	8.57%	-1.90%	-104.71%
Effective Tax Rate	7.18%	2.87%	0.14%	-	-

Updated Mar 18, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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