SHA:600301 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	Mar '26 Mar 31, 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
Operating Revenue	5,665	5,753	4,522	3,139	2,693	392.55
Other Revenue	50.27	50.27	109.21	62.09	74.37	1.69
Revenue	5,716	5,803	4,631	3,201	2,767	394.24
Revenue Growth (YoY)	18.10%	25.31%	44.68%	15.67%	601.88%	-56.34%
Cost of Revenue	3,552	3,684	2,776	1,983	1,820	316.91
Gross Profit	2,164	2,119	1,855	1,218	947.18	77.32
Selling, General & Admin	312.94	306.11	284.35	257.2	249.08	30.67
Research & Development	78.22	83.17	105.79	56.21	20.94	0.93
Other Operating Expenses	202.94	180.56	157.93	116.2	73.78	1.95
Operating Expenses	604.91	580.51	555.39	433.29	345.57	34.93
Operating Income	1,559	1,539	1,300	784.75	601.61	42.39
Interest Expense	-39.73	-43.87	-40.34	-86.46	-103.75	-0.59
Interest & Investment Income	5.62	8	10.04	15.34	10.19	2.74
Other Non Operating Income (Expenses)	-0.81	0.22	-4.76	-5.7	5.53	15.72
EBT Excluding Unusual Items	1,524	1,503	1,265	707.93	513.58	60.26
Gain (Loss) on Sale of Investments	8.17	7.53	3.68	-3.4	-	-
Gain (Loss) on Sale of Assets	2.5	2.47	-0.83	1.09	-3.7	-
Asset Writedown	-16.03	-11.17	-28.03	-5.12	-	-
Legal Settlements	-	-	-	-	-0.38	-
Other Unusual Items	31.37	32.18	7.82	5.52	0.42	-0.53
Pretax Income	1,550	1,534	1,247	706.03	509.93	59.73
Income Tax Expense	247.2	243.48	184.28	107.22	74.91	6.01
Earnings From Continuing Operations	1,303	1,290	1,063	598.81	435.01	53.71
Minority Interest in Earnings	-473.86	-489.7	-405.31	-248.42	-216.36	-
Net Income	829.23	800.77	657.74	350.39	218.65	53.71
Net Income to Common	829.23	800.77	657.74	350.39	218.65	53.71
Net Income Growth	22.98%	21.75%	87.72%	60.25%	307.08%	65.46%
Shares Outstanding (Basic)	631	631	632	619	591	234
Shares Outstanding (Diluted)	631	631	632	619	591	234
Shares Change (YoY)	-0.20%	-0.30%	2.16%	4.76%	153.05%	0.71%
EPS (Basic)	1.32	1.27	1.04	0.57	0.37	0.23
EPS (Diluted)	1.32	1.27	1.04	0.57	0.37	0.23
EPS Growth	23.23%	22.12%	83.75%	52.97%	60.87%	64.29%
Free Cash Flow	1,520	1,303	1,123	798.56	574.21	-111.78
Free Cash Flow Per Share	2.41	2.07	1.77	1.29	0.97	-0.48
Dividend Per Share	0.390	0.390	-	-	-	-
Gross Margin	37.86%	36.52%	40.06%	38.05%	34.23%	19.61%
Operating Margin	27.28%	26.51%	28.07%	24.52%	21.74%	10.75%
Profit Margin	14.51%	13.80%	14.20%	10.95%	7.90%	13.62%
Free Cash Flow Margin	26.59%	22.45%	24.25%	24.95%	20.75%	-28.35%
EBITDA	1,818	1,798	1,563	1,032	781.59	46.3
EBITDA Margin	31.81%	30.99%	33.76%	32.25%	28.25%	11.74%
D&A For EBITDA	258.77	259.71	263.46	247.46	179.98	3.91
EBIT	1,559	1,539	1,300	784.75	601.61	42.39
EBIT Margin	27.28%	26.51%	28.07%	24.52%	21.74%	10.75%
Effective Tax Rate	15.95%	15.87%	14.77%	15.19%	14.69%	10.07%
Revenue as Reported	5,716	5,803	4,631	3,201	2,767	394.24
Advertising Expenses	-	2.62	2.49	3.96	1.29	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.