SHA:600120 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	6,547	8,062	16,001	19,708	17,539	15,741
Other Revenue	127.41	133.9	210.3	176.2	131.27	117.58
Revenue	6,674	8,196	16,211	19,884	17,670	15,859
Revenue Growth (YoY)	-30.86%	-49.44%	-18.47%	12.53%	11.42%	35.23%
Cost of Revenue	6,316	7,780	15,572	18,644	16,246	14,352
Gross Profit	357.97	415.72	639.62	1,240	1,424	1,507
Selling, General & Admin	870.57	764.67	717.04	853.34	839.85	936.86
Research & Development	3.01	2.85	0.19	0.39	-	-
Other Operating Expenses	32.24	29.41	31.04	28.51	19.23	-0.97
Operating Expenses	990.57	814.35	775.89	892.31	830.71	1,003
Operating Income	-632.61	-398.63	-136.27	347.51	592.96	503.61
Interest Expense	-169.02	-174.88	-177.15	-204.81	-159.23	-129.84
Interest & Investment Income	1,687	1,135	537.79	1,114	470.45	1,812
Currency Exchange Gain (Loss)	-2.27	-2.27	3.76	2.74	15.78	-20.82
Other Non Operating Income (Expenses)	789.63	660.17	-	-3.18	-4.45	-4.8
EBT Excluding Unusual Items	1,672	1,219	228.13	1,256	915.52	2,160
Gain (Loss) on Sale of Investments	-276.22	-322.61	341.82	-255.9	-67.04	-962.38
Gain (Loss) on Sale of Assets	-0.43	0.39	-0.04	0.01	0.22	-0.05
Asset Writedown	14.01	0	0.1	-	-	-1.37
Other Unusual Items	8.27	8.27	5.41	17.82	19.22	20.4
Pretax Income	1,418	905.54	575.41	1,018	867.93	1,217
Income Tax Expense	-10.68	13.07	146.49	74.21	145.78	231.96
Earnings From Continuing Operations	1,429	892.47	428.92	944.04	722.15	984.63
Minority Interest in Earnings	-98.84	43.87	106.61	3.13	-65.98	-81.51
Net Income	1,330	936.34	535.53	947.17	656.17	903.12
Net Income to Common	1,330	936.34	535.53	947.17	656.17	903.12
Net Income Growth	152.53%	74.84%	-43.46%	44.35%	-27.34%	12.47%
Shares Outstanding (Basic)	3,303	3,344	3,347	3,055	2,853	2,913
Shares Outstanding (Diluted)	3,303	3,344	3,347	3,055	2,853	2,913
Shares Change (YoY)	0.37%	-0.09%	9.55%	7.10%	-2.07%	0.57%
EPS (Basic)	0.40	0.28	0.16	0.31	0.23	0.31
EPS (Diluted)	0.40	0.28	0.16	0.31	0.23	0.31
EPS Growth	151.60%	75.00%	-48.39%	34.78%	-25.81%	11.83%
Free Cash Flow	-172.98	163.45	348.74	810.07	1,425	-198.23
Free Cash Flow Per Share	-0.05	0.05	0.10	0.27	0.50	-0.07
Dividend Per Share	0.119	0.084	0.058	0.079	0.062	0.031
Dividend Growth	105.17%	44.83%	-26.58%	27.42%	101.30%	-6.67%
Gross Margin	5.36%	5.07%	3.94%	6.24%	8.06%	9.50%
Operating Margin	-9.48%	-4.86%	-0.84%	1.75%	3.36%	3.18%
Profit Margin	19.92%	11.42%	3.30%	4.76%	3.71%	5.70%
Free Cash Flow Margin	-2.59%	1.99%	2.15%	4.07%	8.06%	-1.25%
EBITDA	-490.09	-257.9	2.09	440.27	659.13	558.56
EBITDA Margin	-7.34%	-3.15%	0.01%	2.21%	3.73%	3.52%
D&A For EBITDA	142.52	140.73	138.36	92.76	66.17	54.95
EBIT	-632.61	-398.63	-136.27	347.51	592.96	503.61
EBIT Margin	-9.48%	-4.86%	-0.84%	1.75%	3.36%	3.18%
Effective Tax Rate	-	1.44%	25.46%	7.29%	16.80%	19.07%
Revenue as Reported	6,674	8,196	16,211	19,884	17,670	15,859
Advertising Expenses	-	9.63	10.19	5.77	3.7	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.