皇马科技 (603181.SH) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	2.5B	2.4B	2.3B	1.9B	2.2B
Cost of Revenue	1.8B	1.8B	1.8B	1.4B	1.7B
Gross Profit	655.7M	630.0M	582.8M	465.3M	511.1M
Operating Expenses
R&D Expense	102.3M	97.0M	88.4M	76.2M	100.5M
SG&A Expense	—	—	—	—	—
General & Admin Expense	80.6M	74.3M	55.1M	51.4M	62.9M
Selling & Marketing Expense	9.2M	10.1M	9.7M	9.3M	9.1M
Other Expenses	—	—	—	—	—
Total Operating Expenses	211.5M	196.9M	160.4M	147.4M	160.6M
Cost and Expenses	2.0B	2.0B	1.9B	1.6B	1.8B
Operating Income (EBIT)	512.3M	499.5M	455.5M	367.4M	539.8M
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	—	—	—	—	—
Net Interest Income	—	—	—	—	—
Other Non-Op Income/Expense	—	—	—	—	—
Non-Operating Income (excl Interest)	—	—	—	—	—
EBT (Pre-Tax Income)	510.7M	498.0M	455.4M	370.8M	541.4M
Income Tax Expense	63.4M	61.4M	57.6M	46.1M	64.2M
Bottom Line
Net Income	447.3M	436.6M	397.8M	324.7M	477.1M
Earnings from Cont. Ops	447.3M	436.6M	397.8M	324.7M	477.1M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	447.3M	436.6M	397.8M	324.7M	477.1M
Per Share
Basic EPS	CN¥0.77	CN¥0.76	CN¥0.70	CN¥0.57	CN¥0.82
Diluted EPS	CN¥0.77	CN¥0.76	CN¥0.70	CN¥0.57	CN¥0.82
Revenue Per Share	CN¥4.15	CN¥4.19	CN¥4.11	CN¥3.32	CN¥3.75
Shares
Basic Shares Outstanding	591.7M	574.5M	568.3M	569.7M	581.9M
Diluted Shares Outstanding	591.7M	574.5M	568.3M	569.7M	581.9M
Profitability Metrics
EBITDA	—	634.0M	580.9M	478.6M	633.0M
D&A	—	134.5M	125.4M	111.2M	93.1M
EBIT	—	—	—	—	—

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Mar 1, 2026