Shin Hwa World Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	966.91	1,074	1,036	1,387	1,350
Revenue Growth (YoY)	-9.99%	3.67%	-25.28%	2.73%	71.32%
Cost of Revenue	223.92	234.07	258.8	240.54	244.88
Gross Profit	742.99	840.18	777.47	1,146	1,105
Selling, General & Admin	520.1	537.65	541.64	475.6	557.02
Other Operating Expenses	336.97	428.83	421.46	470.69	502.5
Operating Expenses	1,039	1,202	1,268	1,437	1,656
Operating Income	-296	-361.82	-490.91	-290.34	-551.19
Interest Expense	-92.28	-97.92	-110.64	-100.77	-141.72
Interest & Investment Income	1.32	3.56	7.64	2.2	7.35
Currency Exchange Gain (Loss)	1.23	-7.24	0.41	-3.75	-34.63
Other Non Operating Income (Expenses)	16.63	6.8	22.6	89.15	13.54
EBT Excluding Unusual Items	-369.11	-456.61	-570.89	-303.51	-706.64
Gain (Loss) on Sale of Assets	0.16	2.13	-1.41	0.09	-6.21
Asset Writedown	24.02	-39.1	50.78	67.39	-336.3
Other Unusual Items	-	-0.5	-1.23	0.99	8.63
Pretax Income	-341.78	-494.09	-522.75	-235.05	-1,041
Income Tax Expense	0.73	0.06	-0.31	-18.14	15.25
Earnings From Continuing Operations	-342.51	-494.14	-522.44	-216.91	-1,056
Net Income to Company	-342.51	-494.14	-522.44	-216.91	-1,056
Net Income	-342.51	-494.14	-522.44	-216.91	-1,056
Net Income to Common	-342.51	-494.14	-522.44	-216.91	-1,056
Shares Outstanding (Basic)	2,060	959	423	423	393
Shares Outstanding (Diluted)	2,060	959	423	423	393
Shares Change (YoY)	114.86%	126.84%	-	7.46%	17.67%
EPS (Basic)	-0.17	-0.52	-1.24	-0.51	-2.68
EPS (Diluted)	-0.17	-0.52	-1.24	-0.51	-2.68
Free Cash Flow	-	-218.87	-136.58	143.74	244.17
Free Cash Flow Per Share	-	-0.23	-0.32	0.34	0.62
Gross Margin	76.84%	78.21%	75.03%	82.66%	81.86%
Operating Margin	-30.61%	-33.68%	-47.37%	-20.94%	-40.83%
Profit Margin	-35.42%	-46.00%	-50.41%	-15.64%	-78.20%
Free Cash Flow Margin	-	-20.37%	-13.18%	10.37%	18.09%
EBITDA	-73.45	-139.26	-197.12	198.5	31.07
EBITDA Margin	-7.60%	-12.96%	-19.02%	14.31%	2.30%
D&A For EBITDA	222.56	222.56	293.79	488.84	582.26
EBIT	-296	-361.82	-490.91	-290.34	-551.19
EBIT Margin	-30.61%	-33.68%	-47.37%	-20.94%	-40.83%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.