WDH (WDH) financial statements

· Market cap $377M

WDH reported revenue of 4.0B CNY in fiscal 2025, up 17.5% a year over 6 years.

Net income was 569M CNY and the operating margin 9.3%, against -12.9% in 2019.

Free cash flow was 214M CNY, and the company returned 130M CNY in dividends.

The diluted share count rose 209% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-20242019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from WDH's 10-K filings with the SEC.

Fiscal year2019202020212022202320242025
Revenue1.5B CNY3.0B CNY3.2B CNY2.8B CNY2.6B CNY2.8B CNY4.0B CNY
Research and development215M CNY244M CNY379M CNY291M CNY299M CNY217M CNY233M CNY
Selling, general and admin1.2B CNY2.5B CNY3.6B CNY1.0B CNY1.1B CNY1.1B CNY1.4B CNY
Operating income-194M CNY-496M CNY-1.9B CNY478M CNY-7M CNY178M CNY371M CNY
Pre-tax income-179M CNY-614M CNY-1.8B CNY631M CNY164M CNY361M CNY543M CNY
Income tax143M CNY50M CNY-221M CNY23M CNY555,000 CNY10M CNY-22M CNY
Net income-322M CNY-664M CNY-1.6B CNY608M CNY167M CNY368M CNY569M CNY
EPS (diluted)-0.38 CNY-0.94 CNY-0.58 CNY0.15 CNY0.04 CNY0.10 CNY0.15 CNY
Diluted shares1.20B1.17B2.99B4.02B3.88B3.72B3.71B
Operating margin-12.9%-16.4%-58.1%17.1%-0.3%6.4%9.3%
Net margin-21.3%-21.9%-49.1%21.7%6.4%13.3%14.3%

Balance sheet

Fiscal years, in CNY, from WDH's 10-K filings with the SEC.

Fiscal year2019202020212022202320242025
Cash and short-term investments964M CNY2.3B CNY2.8B CNY3.7B CNY3.4B CNY2.6B CNY1.0B CNY
Receivables—540M CNY644M CNY676M CNY693M CNY716M CNY1.3B CNY
Total current assets—4.5B CNY5.0B CNY5.7B CNY5.4B CNY4.6B CNY4.0B CNY
Property, plant and equipment—29M CNY45M CNY31M CNY34M CNY240M CNY256M CNY
Goodwill—3M CNY3M CNY3M CNY81M CNY81M CNY81M CNY
Total assets—4.7B CNY5.3B CNY5.9B CNY6.1B CNY6.5B CNY7.1B CNY
Total current liabilities—1.3B CNY1.2B CNY1.1B CNY1.4B CNY1.5B CNY1.9B CNY
Total liabilities—1.5B CNY1.3B CNY1.2B CNY1.5B CNY1.6B CNY1.9B CNY
Shareholders' equity-706M CNY-1.7B CNY4.0B CNY4.8B CNY4.6B CNY4.8B CNY5.2B CNY
Net debt-964M CNY-1.1B CNY-818M CNY-1.6B CNY-397M CNY-986M CNY-483M CNY

Cash flow

Fiscal years, in CNY, from WDH's 10-K filings with the SEC.

Fiscal year2019202020212022202320242025
Operating cash flow-533M CNY-777M CNY-1.1B CNY766M CNY407M CNY437M CNY244M CNY
Capital spending13M CNY27M CNY36M CNY12M CNY14M CNY218M CNY30M CNY
Free cash flow-546M CNY-804M CNY-1.1B CNY754M CNY393M CNY219M CNY214M CNY
Stock-based compensation28M CNY228M CNY226M CNY112M CNY134M CNY87M CNY52M CNY
Dividends paid—————159M CNY130M CNY
Free cash flow margin-36.1%-26.5%-35.3%26.9%14.9%7.9%5.4%
Dividends per share—————0.04 CNY0.04 CNY
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Questions

What was WDH's revenue in 2025?

4.0B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does WDH generate?

214M CNY in fiscal 2025 (operating cash flow minus capital spending).

From WDH's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.