SPIC Hydropower Co., Ltd. (SHA:600292)

SPIC Hydropower Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	4,538	4,698	4,180	4,064	4,373	3,619
Other Revenue	24.19	24.19	71.95	73.29	69.28	59.06
Revenue	4,563	4,722	4,252	4,137	4,443	3,678
Revenue Growth (YoY)	2.63%	11.07%	2.78%	-6.89%	20.78%	-9.57%
Operations & Maintenance	-	-	-	-	5.02	2.97
Selling, General & Admin	371.75	369.69	352.41	335.97	340.5	320.36
Provision for Bad Debts	54.77	16.84	41.95	31.58	3.24	40.23
Other Operating Expenses	3,958	4,096	3,610	3,583	3,866	3,184
Total Operating Expenses	4,457	4,547	4,107	4,045	4,279	3,611
Operating Income	105.53	175.05	144.17	91.63	163.33	66.87
Interest Expense	-41.03	-52.27	-83.79	-102.53	-100.38	-74.3
Interest Income	28.19	24.37	57.3	27.85	41.26	22.73
Net Interest Expense	-12.83	-27.9	-26.5	-74.69	-59.13	-51.57
Currency Exchange Gain (Loss)	1.96	1.96	1.05	6.3	1.03	-6.69
Other Non-Operating Income (Expenses)	5.15	2.59	-29.27	-3.56	-4.43	-7
EBT Excluding Unusual Items	99.81	151.69	89.45	19.69	100.8	1.61
Impairment of Goodwill	-0.17	-0.17	-	-1.86	-15.06	-
Gain (Loss) on Sale of Investments	-0.45	-0.45	-	0.15	0.36	18.91
Gain (Loss) on Sale of Assets	0.9	0.27	0	-0.06	-15.81	25.13
Asset Writedown	-47.25	-60.93	-7.6	-17.17	-	-
Other Unusual Items	14.35	13.69	13.69	19.55	38.76	29.77
Pretax Income	67.19	104.11	95.54	20.3	109.05	75.42
Income Tax Expense	50.24	49.69	50.05	59.55	45.01	34.78
Earnings From Continuing Ops.	16.94	54.42	45.5	-39.26	64.04	40.64
Minority Interest in Earnings	-13.32	-18.46	8.52	11.13	-8.53	-14.3
Net Income	3.62	35.96	54.01	-28.12	55.51	26.33
Net Income to Common	3.62	35.96	54.01	-28.12	55.51	26.33
Net Income Growth	-93.26%	-33.42%	-	-	110.81%	-76.29%
Shares Outstanding (Basic)	717	719	772	703	793	878
Shares Outstanding (Diluted)	717	719	772	703	793	878
Shares Change (YoY)	-6.83%	-6.78%	9.75%	-11.35%	-9.65%	10.64%
EPS (Basic)	0.01	0.05	0.07	-0.04	0.07	0.03
EPS (Diluted)	0.01	0.05	0.07	-0.04	0.07	0.03
EPS Growth	-92.77%	-28.57%	-	-	133.33%	-78.57%
Free Cash Flow	-428.43	425.75	400.12	179.43	340.59	-628.46
Free Cash Flow Per Share	-0.60	0.59	0.52	0.26	0.43	-0.72
Dividend Per Share	-	-	0.028	-	0.021	0.011
Dividend Growth	-	-	-	-	90.91%	-78.00%
Profit Margin	0.08%	0.76%	1.27%	-0.68%	1.25%	0.72%
Free Cash Flow Margin	-9.39%	9.01%	9.41%	4.34%	7.67%	-17.09%
EBITDA	512.36	585.22	558.79	505.42	560.51	429.77
EBITDA Margin	11.23%	12.39%	13.14%	12.22%	12.62%	11.68%
D&A For EBITDA	406.83	410.17	414.62	413.79	397.18	362.9
EBIT	105.53	175.05	144.17	91.63	163.33	66.87
EBIT Margin	2.31%	3.71%	3.39%	2.21%	3.68%	1.82%
Effective Tax Rate	74.78%	47.72%	52.38%	293.40%	41.27%	46.12%
Revenue as Reported	4,563	4,722	4,252	4,137	4,443	3,678

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