SHA:600025 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Operating Revenue	26,929	26,464	24,670	23,405	23,472	20,172
Other Revenue	130.91	130.91	211.93	56.48	109.36	29.14
Revenue	27,060	26,595	24,882	23,461	23,581	20,202
Revenue Growth	3.66%	6.89%	6.05%	-0.51%	16.73%	4.92%
Operations & Maintenance	0.71	0.71	0.47	0.88	3.5	0.98
Selling, General & Admin	649.19	676.9	600.85	600.32	557.98	414.03
Provision for Bad Debts	6.59	6.09	10.13	11.89	-41.19	11.74
Other Operating Expenses	13,250	12,677	11,377	10,660	10,867	9,533
Total Operating Expenses	14,009	13,457	12,139	11,460	11,572	10,091
Operating Income	13,051	13,138	12,742	12,001	12,009	10,111
Interest Expense	-2,614	-2,694	-2,704	-2,780	-3,266	-3,370
Interest Income	399.43	337.94	359.29	325.04	301.27	356.95
Net Interest Expense	-2,214	-2,356	-2,345	-2,455	-2,964	-3,014
Currency Exchange Gain (Loss)	52.34	52.34	2.76	8.76	50.06	-20.1
Other Non-Operating Income (Expenses)	-82.75	-34.67	-24.3	-23.5	18.93	-1.85
EBT Excluding Unusual Items	10,806	10,800	10,376	9,532	9,114	7,075
Gain (Loss) on Sale of Investments	31.68	21.95	10.06	-50.09	-8.06	102.67
Gain (Loss) on Sale of Assets	-5.43	-5.36	-1.22	2.76	6.17	-4.56
Asset Writedown	-	-	-1.7	-63.46	-	-
Legal Settlements	-0.37	-0.37	-0.63	-1.41	-2.28	-2.76
Other Unusual Items	-47.95	-47.95	-17.72	0.62	3.5	-37.15
Pretax Income	10,784	10,768	10,365	9,420	9,113	7,134
Income Tax Expense	1,531	1,551	1,453	1,177	1,151	852.92
Earnings From Continuing Ops.	9,253	9,217	8,912	8,243	7,963	6,281
Minority Interest in Earnings	-734.82	-713.15	-614.7	-605.08	-728.17	-443.14
Net Income	8,519	8,504	8,297	7,638	7,234	5,838
Net Income to Common	8,519	8,504	8,297	7,638	7,234	5,838
Net Income Growth	-1.07%	2.50%	8.63%	5.58%	23.93%	20.75%
Shares Outstanding (Basic)	19,288	18,898	18,857	19,095	19,552	18,242
Shares Outstanding (Diluted)	19,288	18,898	18,857	19,095	19,552	18,242
Shares Change	2.97%	0.22%	-1.25%	-2.34%	7.18%	1.88%
EPS (Basic)	0.44	0.45	0.44	0.40	0.37	0.32
EPS (Diluted)	0.44	0.45	0.44	0.40	0.37	0.32
EPS Growth	-3.92%	2.27%	10.00%	8.11%	15.63%	18.52%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Free Cash Flow	1,996	2,588	-2,827	-1,066	7,961	10,474
Free Cash Flow Per Share	0.10	0.14	-0.15	-0.06	0.41	0.57
Dividend Per Share	0.205	0.205	0.200	0.180	0.175	0.170
Dividend Growth	2.50%	2.50%	11.11%	2.86%	2.94%	6.25%
Profit Margin	31.48%	31.98%	33.35%	32.56%	30.68%	28.90%
Free Cash Flow Margin	7.38%	9.73%	-11.36%	-4.55%	33.76%	51.85%
EBITDA	21,000	20,339	18,944	17,844	18,088	15,843
EBITDA Margin	77.61%	76.47%	76.14%	76.06%	76.71%	78.43%
D&A For EBITDA	7,949	7,200	6,202	5,843	6,079	5,733
EBIT	13,051	13,138	12,742	12,001	12,009	10,111
EBIT Margin	48.23%	49.40%	51.21%	51.15%	50.93%	50.05%
Effective Tax Rate	14.19%	14.40%	14.02%	12.49%	12.63%	11.96%
Revenue as Reported	27,060	26,595	24,882	23,461	23,581	20,202