Yuanbao Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	4,087	3,285	2,045	850.25	385.44
Revenue Growth (YoY)	39.01%	60.60%	140.53%	120.59%	-
Cost of Revenue	173.3	166.33	137.96	62.88	63.14
Gross Profit	3,913	3,118	1,907	787.37	322.31
Selling, General & Admin	2,349	2,029	1,603	725.1	636.31
Research & Development	333.7	231.04	128.53	78.43	89.61
Operating Expenses	2,682	2,260	1,732	803.54	725.91
Operating Income	1,231	858.61	175.36	-16.17	-403.61
Interest & Investment Income	57.61	30.73	20.33	7.52	3.86
Currency Exchange Gain (Loss)	-0.39	0.32	0.86	3.53	-0.13
Other Non Operating Income (Expenses)	9.33	1.96	4.73	2.48	0.02
EBT Excluding Unusual Items	1,297	891.61	201.28	-2.64	-399.86
Other Unusual Items	-0.2	-0.2	4.2	0.3	-
Pretax Income	1,297	891.41	205.48	-2.34	-399.86
Income Tax Expense	34.78	25.57	0.29	0.01	-
Earnings From Continuing Operations	1,262	865.85	205.19	-2.35	-399.86
Earnings From Discontinued Operations	-	-	-2.07	21.1	-41.65
Net Income	1,262	865.85	203.12	18.75	-441.51
Preferred Dividends & Other Adjustments	-603.79	429.93	536.06	454.12	776.43
Net Income to Common	1,866	435.92	-332.94	-435.37	-1,218
Net Income Growth	99.02%	326.28%	983.17%	-	-
Shares Outstanding (Basic)	29	17	12	7	3
Shares Outstanding (Diluted)	66	45	12	7	3
Shares Change (YoY)	256.62%	283.70%	60.31%	130.82%	-
EPS (Basic)	63.93	26.07	-28.25	-59.22	-382.41
EPS (Diluted)	24.34	19.15	-28.26	-59.23	-382.41
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	95.76%	94.94%	93.25%	92.61%	83.62%
Operating Margin	30.12%	26.14%	8.57%	-1.90%	-104.71%
Profit Margin	45.67%	13.27%	-16.28%	-51.20%	-315.99%
Free Cash Flow Margin	-	36.66%	21.38%	10.03%	-64.38%
EBITDA	1,234	861.51	178.47	-14.14	-401.73
EBITDA Margin	30.19%	26.23%	8.73%	-1.66%	-104.22%
D&A For EBITDA	2.71	2.9	3.11	2.03	1.88
EBIT	1,231	858.61	175.36	-16.17	-403.61
EBIT Margin	30.12%	26.14%	8.57%	-1.90%	-104.71%
Effective Tax Rate	2.68%	2.87%	0.14%	-	-

Updated Dec 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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