C&S Paper Co Ltd
SZSE:002511
Income Statement
Earnings Waterfall
C&S Paper Co Ltd
Revenue
|
9.3B
CNY
|
Cost of Revenue
|
-6.5B
CNY
|
Gross Profit
|
2.8B
CNY
|
Operating Expenses
|
-2.5B
CNY
|
Operating Income
|
206.8m
CNY
|
Other Expenses
|
34.1m
CNY
|
Net Income
|
240.9m
CNY
|
Income Statement
C&S Paper Co Ltd
Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
2 475
N/A
|
2 502
+1%
|
2 521
+1%
|
2 491
-1%
|
2 459
-1%
|
2 522
+3%
|
2 588
+3%
|
2 693
+4%
|
2 820
+5%
|
2 959
+5%
|
3 209
+8%
|
3 431
+7%
|
3 633
+6%
|
3 809
+5%
|
3 988
+5%
|
4 161
+4%
|
4 421
+6%
|
4 638
+5%
|
4 831
+4%
|
5 101
+6%
|
5 367
+5%
|
5 679
+6%
|
5 994
+6%
|
6 265
+5%
|
6 417
+2%
|
6 635
+3%
|
6 765
+2%
|
7 079
+5%
|
7 370
+4%
|
7 824
+6%
|
8 255
+6%
|
8 455
+2%
|
8 543
+1%
|
9 150
+7%
|
8 932
-2%
|
9 270
+4%
|
8 989
-3%
|
8 570
-5%
|
8 746
+2%
|
8 887
+2%
|
9 279
+4%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(1 703)
|
(1 745)
|
(1 804)
|
(1 784)
|
(1 751)
|
(1 769)
|
(1 806)
|
(1 876)
|
(1 945)
|
(2 018)
|
(2 173)
|
(2 288)
|
(2 388)
|
(2 452)
|
(2 562)
|
(2 681)
|
(2 871)
|
(3 015)
|
(3 150)
|
(3 343)
|
(3 544)
|
(3 743)
|
(4 051)
|
(4 151)
|
(4 117)
|
(4 006)
|
(3 952)
|
(3 980)
|
(4 049)
|
(4 593)
|
(4 983)
|
(5 280)
|
(5 581)
|
(5 867)
|
(5 941)
|
(6 295)
|
(6 158)
|
(5 839)
|
(6 113)
|
(6 312)
|
(6 528)
|
|
Gross Profit |
772
N/A
|
757
-2%
|
716
-5%
|
708
-1%
|
707
0%
|
753
+6%
|
783
+4%
|
817
+4%
|
875
+7%
|
941
+8%
|
1 037
+10%
|
1 143
+10%
|
1 244
+9%
|
1 358
+9%
|
1 426
+5%
|
1 481
+4%
|
1 549
+5%
|
1 624
+5%
|
1 681
+4%
|
1 758
+5%
|
1 823
+4%
|
1 936
+6%
|
1 943
+0%
|
2 114
+9%
|
2 300
+9%
|
2 629
+14%
|
2 813
+7%
|
3 098
+10%
|
3 321
+7%
|
3 231
-3%
|
3 272
+1%
|
3 175
-3%
|
2 962
-7%
|
3 283
+11%
|
2 991
-9%
|
2 975
-1%
|
2 831
-5%
|
2 730
-4%
|
2 633
-4%
|
2 575
-2%
|
2 751
+7%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(534)
|
(602)
|
(587)
|
(607)
|
(596)
|
(595)
|
(603)
|
(621)
|
(677)
|
(750)
|
(814)
|
(887)
|
(921)
|
(979)
|
(1 018)
|
(1 043)
|
(1 102)
|
(1 166)
|
(1 180)
|
(1 231)
|
(1 270)
|
(1 378)
|
(1 360)
|
(1 486)
|
(1 607)
|
(1 877)
|
(2 001)
|
(2 163)
|
(2 335)
|
(2 135)
|
(2 095)
|
(2 149)
|
(2 127)
|
(2 595)
|
(2 490)
|
(2 530)
|
(2 409)
|
(2 355)
|
(2 323)
|
(2 407)
|
(2 544)
|
|
Selling, General & Administrative |
(529)
|
(569)
|
(584)
|
(605)
|
(593)
|
(519)
|
(579)
|
(597)
|
(635)
|
(655)
|
(792)
|
(849)
|
(898)
|
(890)
|
(992)
|
(1 010)
|
(1 056)
|
(1 061)
|
(1 150)
|
(1 217)
|
(1 257)
|
(1 227)
|
(1 257)
|
(1 360)
|
(1 451)
|
(1 662)
|
(1 815)
|
(1 967)
|
(2 143)
|
(1 907)
|
(1 912)
|
(1 960)
|
(1 935)
|
(2 321)
|
(2 277)
|
(2 310)
|
(2 197)
|
(2 080)
|
(2 122)
|
(2 194)
|
(2 314)
|
|
Research & Development |
0
|
(9)
|
0
|
0
|
0
|
(33)
|
0
|
0
|
0
|
(45)
|
0
|
0
|
0
|
(46)
|
0
|
0
|
(23)
|
(83)
|
0
|
0
|
(23)
|
(95)
|
(83)
|
(113)
|
(144)
|
(158)
|
(183)
|
(203)
|
(196)
|
(164)
|
(197)
|
(197)
|
(200)
|
(185)
|
(214)
|
(220)
|
(213)
|
(179)
|
(207)
|
(219)
|
(240)
|
|
Depreciation & Amortization |
0
|
(17)
|
0
|
0
|
0
|
(22)
|
0
|
0
|
0
|
(31)
|
0
|
0
|
0
|
(31)
|
0
|
0
|
0
|
(31)
|
0
|
0
|
0
|
(48)
|
0
|
0
|
0
|
(67)
|
0
|
0
|
0
|
(91)
|
0
|
0
|
0
|
(108)
|
0
|
0
|
0
|
(118)
|
0
|
0
|
0
|
|
Other Operating Expenses |
(5)
|
(7)
|
(3)
|
(2)
|
(2)
|
(22)
|
(24)
|
(23)
|
(43)
|
(18)
|
(22)
|
(39)
|
(22)
|
(12)
|
(26)
|
(33)
|
(22)
|
9
|
(30)
|
(14)
|
10
|
(8)
|
(21)
|
(14)
|
(13)
|
9
|
(3)
|
8
|
4
|
27
|
14
|
8
|
8
|
20
|
1
|
0
|
1
|
22
|
6
|
6
|
9
|
|
Operating Income |
238
N/A
|
155
-35%
|
130
-16%
|
101
-22%
|
112
+11%
|
158
+42%
|
180
+14%
|
197
+9%
|
198
+1%
|
191
-3%
|
223
+16%
|
256
+15%
|
324
+26%
|
379
+17%
|
407
+8%
|
437
+7%
|
447
+2%
|
458
+2%
|
501
+9%
|
528
+5%
|
553
+5%
|
557
+1%
|
583
+5%
|
629
+8%
|
693
+10%
|
752
+9%
|
812
+8%
|
936
+15%
|
987
+5%
|
1 096
+11%
|
1 177
+7%
|
1 026
-13%
|
835
-19%
|
689
-17%
|
501
-27%
|
445
-11%
|
422
-5%
|
375
-11%
|
310
-17%
|
168
-46%
|
207
+23%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(36)
|
(36)
|
(45)
|
(49)
|
(55)
|
(68)
|
(83)
|
(88)
|
(101)
|
(92)
|
(96)
|
(91)
|
(76)
|
(55)
|
(47)
|
(44)
|
(39)
|
(42)
|
(37)
|
(39)
|
(42)
|
(49)
|
(44)
|
(38)
|
(36)
|
(15)
|
(17)
|
(3)
|
20
|
24
|
27
|
21
|
10
|
12
|
6
|
7
|
0
|
37
|
33
|
48
|
61
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(5)
|
(6)
|
(6)
|
(5)
|
(2)
|
(2)
|
(20)
|
0
|
(0)
|
(0)
|
(17)
|
(1)
|
(1)
|
(0)
|
(26)
|
(0)
|
(1)
|
(1)
|
(14)
|
1
|
1
|
1
|
|
Gain/Loss on Disposition of Assets |
0
|
(6)
|
0
|
(0)
|
(5)
|
(6)
|
(5)
|
0
|
(2)
|
(4)
|
(2)
|
(2)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
7
|
37
|
39
|
42
|
32
|
10
|
5
|
(4)
|
10
|
22
|
18
|
22
|
15
|
12
|
16
|
11
|
9
|
8
|
(13)
|
(9)
|
(2)
|
8
|
8
|
7
|
(1)
|
4
|
(8)
|
(11)
|
(11)
|
(14)
|
(7)
|
(7)
|
(12)
|
(7)
|
(8)
|
(10)
|
6
|
11
|
10
|
12
|
1
|
|
Pre-Tax Income |
209
N/A
|
150
-28%
|
124
-17%
|
94
-24%
|
84
-11%
|
94
+13%
|
97
+2%
|
104
+8%
|
105
+1%
|
118
+12%
|
142
+21%
|
185
+30%
|
262
+42%
|
335
+28%
|
375
+12%
|
403
+7%
|
417
+3%
|
421
+1%
|
449
+7%
|
474
+5%
|
503
+6%
|
511
+2%
|
541
+6%
|
597
+10%
|
654
+10%
|
721
+10%
|
788
+9%
|
922
+17%
|
995
+8%
|
1 088
+9%
|
1 195
+10%
|
1 038
-13%
|
832
-20%
|
667
-20%
|
499
-25%
|
440
-12%
|
428
-3%
|
409
-4%
|
354
-13%
|
230
-35%
|
269
+17%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(50)
|
(34)
|
(28)
|
(23)
|
(24)
|
(27)
|
(28)
|
(27)
|
(23)
|
(29)
|
(31)
|
(37)
|
(59)
|
(74)
|
(85)
|
(92)
|
(91)
|
(72)
|
(77)
|
(82)
|
(87)
|
(104)
|
(109)
|
(115)
|
(122)
|
(117)
|
(124)
|
(140)
|
(157)
|
(183)
|
(202)
|
(178)
|
(114)
|
(86)
|
(55)
|
(39)
|
(57)
|
(61)
|
(50)
|
(25)
|
(30)
|
|
Income from Continuing Operations |
160
|
116
|
96
|
71
|
59
|
68
|
68
|
77
|
83
|
88
|
112
|
148
|
203
|
260
|
290
|
311
|
326
|
349
|
372
|
393
|
415
|
407
|
432
|
482
|
532
|
604
|
664
|
782
|
838
|
906
|
994
|
860
|
719
|
581
|
443
|
401
|
371
|
349
|
305
|
205
|
239
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
1
|
1
|
2
|
2
|
1
|
|
Net Income (Common) |
159
N/A
|
116
-27%
|
96
-17%
|
71
-27%
|
59
-16%
|
68
+14%
|
68
+1%
|
77
+13%
|
83
+7%
|
88
+7%
|
112
+26%
|
148
+33%
|
203
+37%
|
260
+28%
|
290
+11%
|
311
+7%
|
326
+5%
|
349
+7%
|
372
+7%
|
393
+5%
|
415
+6%
|
407
-2%
|
432
+6%
|
482
+12%
|
532
+10%
|
604
+13%
|
664
+10%
|
782
+18%
|
838
+7%
|
906
+8%
|
994
+10%
|
860
-13%
|
719
-16%
|
581
-19%
|
443
-24%
|
402
-9%
|
371
-8%
|
350
-6%
|
306
-13%
|
207
-32%
|
241
+16%
|
|
EPS (Diluted) |
0.12
N/A
|
0.09
-25%
|
0.08
-11%
|
0.06
-25%
|
0.05
-17%
|
0.05
N/A
|
0.05
N/A
|
0.06
+20%
|
0.07
+17%
|
0.07
N/A
|
0.1
+43%
|
0.13
+30%
|
0.17
+31%
|
0.21
+24%
|
0.23
+10%
|
0.25
+9%
|
0.26
+4%
|
0.28
+8%
|
0.3
+7%
|
0.31
+3%
|
0.33
+6%
|
0.32
-3%
|
0.34
+6%
|
0.38
+12%
|
0.42
+11%
|
0.46
+10%
|
0.51
+11%
|
0.6
+18%
|
0.64
+7%
|
0.69
+8%
|
0.77
+12%
|
0.66
-14%
|
0.55
-17%
|
0.44
-20%
|
0.33
-25%
|
0.3
-9%
|
0.28
-7%
|
0.27
-4%
|
0.24
-11%
|
0.13
-46%
|
0.24
+85%
|