SHA:600029 Income Statement

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

Millions CNY. 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
Operating Revenue	176,358	168,406	154,609	83,405	98,528
Other Revenue	5,898	5,818	5,320	3,654	3,116
Revenue	182,256	174,224	159,929	87,059	101,644
Revenue Growth (YoY)	4.61%	8.94%	83.70%	-14.35%	9.81%
Cost of Revenue	163,790	159,573	147,590	105,995	104,264
Gross Profit	18,466	14,651	12,339	-18,936	-2,620
Selling, General & Admin	11,785	11,235	10,408	8,115	8,671
Research & Development	607	544	511	389	381
Other Operating Expenses	-2,712	-2,637	-2,408	-3,130	-3,053
Operating Expenses	9,697	9,170	8,522	5,393	5,999
Operating Income	8,769	5,481	3,817	-24,329	-8,619
Interest Expense	-5,553	-5,758	-5,928	-6,006	-6,202
Interest & Investment Income	417	215	361	1,012	959
Currency Exchange Gain (Loss)	345	-912	-687	-3,619	1,575
Other Non Operating Income (Expenses)	-170	-150	-137	-50	-72
EBT Excluding Unusual Items	3,808	-1,124	-2,574	-32,992	-12,359
Gain (Loss) on Sale of Investments	32	-404	-814	-388	-309
Gain (Loss) on Sale of Assets	110	731	409	330	399
Asset Writedown	-3	-3	-3	-449	-2,579
Other Unusual Items	864	2,381	1,337	1,973	945
Pretax Income	4,811	1,581	-1,645	-31,526	-13,903
Income Tax Expense	2,126	1,427	1,437	2,172	-2,892
Earnings From Continuing Operations	2,685	154	-3,082	-33,698	-11,011
Minority Interest in Earnings	-1,828	-1,850	-1,127	1,016	-1,092
Net Income	857	-1,696	-4,209	-32,682	-12,103
Net Income to Common	857	-1,696	-4,209	-32,682	-12,103
Shares Outstanding (Basic)	18,121	18,121	18,121	17,205	16,201
Shares Outstanding (Diluted)	18,121	18,121	18,121	17,205	16,201
Shares Change (YoY)	-	-	5.32%	6.20%	15.25%
EPS (Basic)	0.05	-0.09	-0.23	-1.90	-0.75
EPS (Diluted)	0.05	-0.09	-0.23	-1.90	-0.75
Free Cash Flow	20,442	15,306	28,765	-8,231	-3,766
Free Cash Flow Per Share	1.13	0.84	1.59	-0.48	-0.23
Gross Margin	10.13%	8.41%	7.71%	-21.75%	-2.58%
Operating Margin	4.81%	3.15%	2.39%	-27.94%	-8.48%
Profit Margin	0.47%	-0.97%	-2.63%	-37.54%	-11.91%
Free Cash Flow Margin	11.22%	8.79%	17.99%	-9.46%	-3.71%
EBITDA	21,469	17,052	14,487	-15,161	686
EBITDA Margin	11.78%	9.79%	9.06%	-17.41%	0.68%
D&A For EBITDA	12,700	11,571	10,670	9,168	9,305
EBIT	8,769	5,481	3,817	-24,329	-8,619
EBIT Margin	4.81%	3.15%	2.39%	-27.94%	-8.48%
Effective Tax Rate	44.19%	90.26%	-	-	-
Advertising Expenses	174	210	120	80	140

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