Duality Biotherapeutics 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	2,170	1,941	1,787
Revenue Growth (YoY)	-	8.66%	-
Cost of Revenue	1,365	1,157	427.66
Gross Profit	805.86	784.67	1,359
Selling, General & Admin	210.96	158.69	62.57
Research & Development	808.53	815.38	559
Other Operating Expenses	-3.02	-2.36	1.06
Operating Expenses	1,016	971.71	622.62
Operating Income	-210.61	-187.04	736.27
Interest Expense	-0.69	-0.25	-0.19
Interest & Investment Income	61.26	48.11	34.48
Currency Exchange Gain (Loss)	-4.93	12.27	41.94
Other Non Operating Income (Expenses)	-2,672	-873.42	-1,018
EBT Excluding Unusual Items	-2,827	-1,000	-205.4
Asset Writedown	-	-21.35	-
Other Unusual Items	6.34	7.12	3.15
Pretax Income	-2,821	-1,015	-202.25
Income Tax Expense	10.3	35.89	155.26
Net Income	-2,831	-1,050	-357.51
Net Income to Common	-2,831	-1,050	-357.51
Shares Outstanding (Basic)	25	8	8
Shares Outstanding (Diluted)	25	8	8
EPS (Basic)	-113.91	-131.30	-44.69
EPS (Diluted)	-113.91	-131.30	-44.69
Free Cash Flow	692.78	281.7	805.05
Free Cash Flow Per Share	27.88	35.21	100.63
Gross Margin	37.13%	40.42%	76.06%
Operating Margin	-9.70%	-9.63%	41.21%
Profit Margin	-130.43%	-54.11%	-20.01%
Free Cash Flow Margin	31.92%	14.51%	45.06%
EBITDA	-205.93	-183.72	737.75
EBITDA Margin	-9.49%	-9.46%	41.30%
D&A For EBITDA	4.68	3.32	1.48
EBIT	-210.61	-187.04	736.27
EBIT Margin	-9.70%	-9.63%	41.21%

Source: S&P Capital IQ. Standard template. Financial Sources.