SHA:600125 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
Revenue	11,273	11,494	13,015	14,693	12,002	17,894
Revenue Growth	-1.75%	-11.69%	-11.42%	22.42%	-32.93%	17.98%
Cost of Revenue	10,240	10,486	12,190	13,808	11,303	17,138
Gross Profit	1,033	1,008	825.34	885.11	699.15	755.69
Selling, General & Admin	217.74	214.6	207.17	201.73	207.13	202.45
Research & Development	4.21	4.21	4.49	9.33	11.87	4.83
Other Operating Expenses	34.38	34.69	32.71	30.98	27.34	35.72
Operating Expenses	259.42	251.06	251.92	242.9	255.33	267.42
Operating Income	773.62	757.1	573.41	642.21	443.82	488.26
Interest Expense	-2.22	-20.09	-28.43	-31.56	-46.35	-49.78
Interest & Investment Income	3.53	16.89	25.75	27.55	40.7	31.58
Earnings From Equity Investments	-	-	-	-12.27	-	-
Currency Exchange Gain (Loss)	-0.57	-0.57	-0.1	-0.11	0.78	0.14
Other Non Operating Income (Expenses)	5.13	-1.23	0.59	0.95	-0.8	-0.74
EBT Excluding Unusual Items	779.49	752.1	571.22	626.78	438.16	469.45
Gain (Loss) on Sale of Investments	-32.75	-32.97	-5.55	-	-	-
Gain (Loss) on Sale of Assets	1.88	0.21	2.92	2.18	11.48	0.39
Asset Writedown	-0	-0.29	-0.01	-	-	-
Other Unusual Items	19.83	21.01	14.66	33.33	27.48	19.73
Pretax Income	768.45	740.06	583.24	662.28	477.12	489.57
Income Tax Expense	233.29	219.06	201.23	189.64	134.67	149.58
Earnings From Continuing Operations	535.16	521	382.01	472.64	342.45	339.99
Minority Interest in Earnings	4.18	4.05	-0.09	-1.87	-4.96	-2.68
Net Income	539.34	525.05	381.92	470.78	337.49	337.31
Net Income to Common	539.34	525.05	381.92	470.78	337.49	337.31
Net Income Growth	0.94%	37.48%	-18.88%	39.50%	0.05%	-15.80%
Shares Outstanding (Basic)	1,306	1,306	1,303	1,304	1,303	1,307
Shares Outstanding (Diluted)	1,306	1,306	1,303	1,304	1,303	1,307
Shares Change	0.04%	0.20%	-0.05%	0.08%	-0.33%	0.19%
EPS (Basic)	0.41	0.40	0.29	0.36	0.26	0.26
EPS (Diluted)	0.41	0.40	0.29	0.36	0.26	0.26
EPS Growth	0.91%	37.20%	-18.84%	39.38%	0.39%	-15.96%

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	1,138	466.43	435.64	-29.23	719.33	498.12
Free Cash Flow Per Share	0.87	0.36	0.33	-0.02	0.55	0.38
Dividend Per Share	0.071	0.121	0.090	0.110	0.080	0.080
Dividend Growth	-49.29%	34.44%	-18.18%	37.50%	0%	-20.00%
Gross Margin	9.16%	8.77%	6.34%	6.02%	5.83%	4.22%
Operating Margin	6.86%	6.59%	4.41%	4.37%	3.70%	2.73%
Profit Margin	4.78%	4.57%	2.93%	3.20%	2.81%	1.88%
Free Cash Flow Margin	10.10%	4.06%	3.35%	-0.20%	5.99%	2.78%
EBITDA	1,241	1,201	986.15	1,026	804.36	841.88
EBITDA Margin	11.01%	10.45%	7.58%	6.98%	6.70%	4.71%
D&A For EBITDA	467.09	443.79	412.73	383.6	360.54	353.62
EBIT	773.62	757.1	573.41	642.21	443.82	488.26
EBIT Margin	6.86%	6.59%	4.41%	4.37%	3.70%	2.73%
Effective Tax Rate	30.36%	29.60%	34.50%	28.63%	28.23%	30.55%
Revenue as Reported	2,912	11,494	13,015	14,693	12,002	17,894
Advertising Expenses	-	2.33	3.11	1.69	1.17	0.96