SHA:600351 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	2,198	2,240	2,652	2,880	2,681	2,681
Other Revenue	-	-	34.52	29.46	37.45	83.2
Revenue	2,198	2,240	2,686	2,910	2,718	2,764
Revenue Growth (YoY)	-13.12%	-16.60%	-7.69%	7.05%	-1.66%	6.21%
Cost of Revenue	1,042	1,064	1,323	1,246	1,216	1,095
Gross Profit	1,156	1,176	1,363	1,664	1,502	1,669
Selling, General & Admin	679.25	697.86	913.51	1,228	1,159	1,296
Research & Development	114.05	117.27	139.52	118.29	130.62	157.13
Other Operating Expenses	9.96	11.43	31.39	31.34	33.98	33.38
Operating Expenses	803.27	826.56	1,086	1,373	1,324	1,473
Operating Income	352.3	349.71	276.84	291.5	178.07	196.65
Interest Expense	-	-	-5.35	-12.3	-18.77	-22.61
Interest & Investment Income	74.34	74.04	6.45	9.49	8.18	22.04
Currency Exchange Gain (Loss)	-	-	0.05	-0.03	0.27	-0.13
Other Non Operating Income (Expenses)	18.73	15.1	5.96	-9.75	-8.01	-3.53
EBT Excluding Unusual Items	445.37	438.85	283.95	278.91	159.74	192.42
Impairment of Goodwill	-	-	-	-	-48.3	-
Gain (Loss) on Sale of Investments	4.49	19	-3.04	-5.35	-4.17	1.34
Gain (Loss) on Sale of Assets	0.16	0.18	0.35	1.12	0.12	0.15
Asset Writedown	-79.11	-83.58	-27.53	-84.97	-9.75	-22.97
Other Unusual Items	-	-	38.37	29.26	28.02	30.66
Pretax Income	370.9	374.46	292.11	218.98	125.65	201.59
Income Tax Expense	70.1	74.56	68.19	39.07	21.04	17.83
Earnings From Continuing Operations	300.8	299.9	223.92	179.91	104.6	183.76
Minority Interest in Earnings	18.6	20.11	18.77	19.67	0.05	3.33
Net Income	319.41	320.01	242.69	199.59	104.66	187.09
Net Income to Common	319.41	320.01	242.69	199.59	104.66	187.09
Net Income Growth	34.38%	31.86%	21.60%	90.71%	-44.06%	74.25%
Shares Outstanding (Basic)	696	699	723	763	770	770
Shares Outstanding (Diluted)	696	699	723	763	770	770
Shares Change (YoY)	-2.72%	-3.29%	-5.25%	-0.89%	0.02%	-0.04%
EPS (Basic)	0.46	0.46	0.34	0.26	0.14	0.24
EPS (Diluted)	0.46	0.46	0.34	0.26	0.14	0.24
EPS Growth	38.14%	36.35%	28.34%	92.42%	-44.07%	74.32%
Free Cash Flow	573.06	524.91	437.03	397.7	398.23	342.45
Free Cash Flow Per Share	0.82	0.75	0.60	0.52	0.52	0.45
Dividend Per Share	-	-	0.300	0.150	0.050	0.080
Dividend Growth	-	-	100.00%	200.00%	-37.50%	60.00%
Gross Margin	52.58%	52.51%	50.73%	57.19%	55.27%	60.39%
Operating Margin	16.03%	15.61%	10.31%	10.02%	6.55%	7.12%
Profit Margin	14.54%	14.29%	9.04%	6.86%	3.85%	6.77%
Free Cash Flow Margin	26.08%	23.43%	16.27%	13.67%	14.65%	12.39%
EBITDA	485.88	483.77	412.82	447.11	338.04	363.93
EBITDA Margin	22.11%	21.60%	15.37%	15.37%	12.44%	13.17%
D&A For EBITDA	133.58	134.06	135.98	155.61	159.97	167.27
EBIT	352.3	349.71	276.84	291.5	178.07	196.65
EBIT Margin	16.03%	15.61%	10.31%	10.02%	6.55%	7.12%
Effective Tax Rate	18.90%	19.91%	23.34%	17.84%	16.75%	8.85%
Revenue as Reported	-	-	2,686	2,910	2,718	2,764
Advertising Expenses	-	-	131.24	119.31	105.5	100.49

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