$Ashland (ASH.US)$The overall downward trend in revenue over...

$Ashland (ASH.US)$The overall downward trend in revenue over the past 5 years, rebounded 13.3% in 2022. Operating profit grew rapidly in the last two years due to rising gross margin and declining share of operating expenses. Net profit improved due to falling interest expenses. In 2021, it reached 220 million due to income tax rebates, and in 2022 it reached 930 million due to 750 million yuan in suspended operating profit, and the core net profit was only 180 million yuan.