SHA:600125 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
Revenue	11,475	13,015	14,693	12,002	17,894	15,167
Revenue Growth (YoY)	-18.98%	-11.42%	22.42%	-32.93%	17.98%	-7.34%
Cost of Revenue	10,552	12,190	13,808	11,303	17,138	14,379
Gross Profit	922.34	825.34	885.11	699.15	755.69	788.57
Selling, General & Admin	209.06	207.17	201.73	207.13	202.45	177.22
Research & Development	4.49	4.49	9.33	11.87	4.83	3.6
Other Operating Expenses	34.46	32.71	30.98	27.34	35.72	1.37
Operating Expenses	248.78	251.92	242.9	255.33	267.42	186.05
Operating Income	673.57	573.41	642.21	443.82	488.26	602.52
Interest Expense	-24.91	-28.43	-31.56	-46.35	-49.78	-48.12
Interest & Investment Income	18.65	25.75	27.55	40.7	31.58	15.97
Earnings From Equity Investments	-5.55	-5.55	-12.27	-	-	-
Currency Exchange Gain (Loss)	-0.1	-0.1	-0.11	0.78	0.14	-0.63
Other Non Operating Income (Expenses)	0.43	0.59	0.95	-0.8	-0.74	-0.37
EBT Excluding Unusual Items	662.1	565.67	626.78	438.16	469.45	569.37
Gain (Loss) on Sale of Assets	-1.82	2.91	2.18	11.48	0.39	15.54
Asset Writedown	86.78	-	-	-	-	-14.92
Other Unusual Items	15.84	14.66	33.33	27.48	19.73	-
Pretax Income	755.44	583.24	662.28	477.12	489.57	569.99
Income Tax Expense	223.22	201.23	189.64	134.67	149.58	167.93
Earnings From Continuing Operations	532.22	382.01	472.64	342.45	339.99	402.06
Minority Interest in Earnings	2.08	-0.09	-1.87	-4.96	-2.68	-1.46
Net Income	534.3	381.92	470.78	337.49	337.31	400.6
Net Income to Common	534.3	381.92	470.78	337.49	337.31	400.6
Net Income Growth	30.17%	-18.88%	39.50%	0.05%	-15.80%	-11.89%
Shares Outstanding (Basic)	1,305	1,303	1,304	1,303	1,307	1,305
Shares Outstanding (Diluted)	1,305	1,303	1,304	1,303	1,307	1,305
Shares Change (YoY)	0.16%	-0.05%	0.08%	-0.33%	0.19%	-0.13%
EPS (Basic)	0.41	0.29	0.36	0.26	0.26	0.31
EPS (Diluted)	0.41	0.29	0.36	0.26	0.26	0.31
EPS Growth	29.96%	-18.84%	39.38%	0.39%	-15.96%	-11.78%
Free Cash Flow	632.65	435.64	-29.23	719.33	498.12	198.3
Free Cash Flow Per Share	0.48	0.33	-0.02	0.55	0.38	0.15
Dividend Per Share	0.140	0.090	0.110	0.080	0.080	0.100
Dividend Growth	27.27%	-18.18%	37.50%	-	-20.00%	-9.09%
Gross Margin	8.04%	6.34%	6.02%	5.83%	4.22%	5.20%
Operating Margin	5.87%	4.41%	4.37%	3.70%	2.73%	3.97%
Profit Margin	4.66%	2.93%	3.20%	2.81%	1.88%	2.64%
Free Cash Flow Margin	5.51%	3.35%	-0.20%	5.99%	2.78%	1.31%
EBITDA	1,100	981.74	1,026	804.36	841.88	941.81
EBITDA Margin	9.59%	7.54%	6.98%	6.70%	4.71%	6.21%
D&A For EBITDA	426.86	408.32	383.6	360.54	353.62	339.3
EBIT	673.57	573.41	642.21	443.82	488.26	602.52
EBIT Margin	5.87%	4.41%	4.37%	3.70%	2.73%	3.97%
Effective Tax Rate	29.55%	34.50%	28.63%	28.23%	30.55%	29.46%
Revenue as Reported	11,475	13,015	14,693	12,002	17,894	-
Advertising Expenses	-	3.11	1.69	1.17	0.96	2.69

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