SHA:600352 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
Operating Revenue	14,841	15,780	15,127	21,097	16,459	15,066
Other Revenue	103.87	103.87	176.05	128.8	200.82	539.44
Revenue	14,945	15,884	15,303	21,226	16,660	15,605
Revenue Growth (YoY)	-0.92%	3.79%	-27.90%	27.41%	6.76%	-26.96%
Cost of Revenue	10,944	11,683	11,499	14,914	11,028	9,271
Gross Profit	4,000	4,200	3,804	6,311	5,632	6,335
Selling, General & Admin	1,461	1,436	1,337	1,551	1,560	2,037
Research & Development	610.18	600.66	580.51	709.41	652.53	704.45
Other Operating Expenses	136.29	103.3	46.44	337.86	137.43	146.5
Operating Expenses	2,214	2,156	1,930	2,636	2,346	2,963
Operating Income	1,786	2,045	1,874	3,675	3,286	3,372
Interest Expense	-310.65	-403.6	-430.69	-281.94	-355.53	-206.35
Interest & Investment Income	860.98	697.22	838.12	627.3	1,362	638.09
Currency Exchange Gain (Loss)	235.42	235.42	108.54	74.83	45.62	51.82
Other Non Operating Income (Expenses)	-156.27	-19.53	-20.14	-29.21	-36.81	-20.77
EBT Excluding Unusual Items	2,416	2,554	2,370	4,066	4,302	3,835
Merger & Restructuring Charges	-10.37	-10.37	-47.47	8.03	15.63	24.25
Impairment of Goodwill	-	-	-22.27	-	-	-
Gain (Loss) on Sale of Investments	356.97	-236.81	-490.42	-565.17	-432.92	977.89
Gain (Loss) on Sale of Assets	108.59	462.4	135.27	141.82	13.12	12.6
Asset Writedown	-53.34	-6.43	-84.81	-27.86	-11.02	-13.37
Other Unusual Items	106.98	48.92	89.09	375.29	412.57	425.66
Pretax Income	2,925	2,812	1,949	3,998	4,299	5,262
Income Tax Expense	536	456.94	216.36	671.29	524.05	879.86
Earnings From Continuing Operations	2,389	2,355	1,733	3,327	3,775	4,382
Minority Interest in Earnings	-314.68	-324.57	-199.03	-323.42	-401.07	-205.58
Net Income	2,074	2,030	1,534	3,003	3,374	4,176
Net Income to Common	2,074	2,030	1,534	3,003	3,374	4,176
Net Income Growth	4.31%	32.36%	-48.92%	-10.99%	-19.21%	-16.86%
Shares Outstanding (Basic)	3,254	3,213	3,131	3,210	3,235	3,200
Shares Outstanding (Diluted)	3,254	3,213	3,131	3,210	3,235	3,200
Shares Change (YoY)	2.88%	2.62%	-2.47%	-0.80%	1.12%	0.43%
EPS (Basic)	0.64	0.63	0.49	0.94	1.04	1.31
EPS (Diluted)	0.64	0.63	0.49	0.94	1.04	1.31
EPS Growth	1.08%	28.57%	-47.63%	-10.27%	-20.10%	-17.21%
Free Cash Flow	10,765	9,129	2,523	367.86	4,056	2,214
Free Cash Flow Per Share	3.31	2.84	0.81	0.12	1.25	0.69
Dividend Per Share	0.450	0.450	0.250	0.250	0.250	0.250
Dividend Growth	-	80.00%	-	-	-	-
Gross Margin	26.77%	26.44%	24.86%	29.73%	33.81%	40.59%
Operating Margin	11.95%	12.87%	12.25%	17.31%	19.72%	21.61%
Profit Margin	13.88%	12.78%	10.02%	14.15%	20.25%	26.76%
Free Cash Flow Margin	72.03%	57.48%	16.49%	1.73%	24.35%	14.19%
EBITDA	2,569	2,888	2,797	4,555	4,133	4,152
EBITDA Margin	17.19%	18.18%	18.28%	21.46%	24.81%	26.60%
D&A For EBITDA	783.17	843.23	923.3	880.35	846.54	779.81
EBIT	1,786	2,045	1,874	3,675	3,286	3,372
EBIT Margin	11.95%	12.87%	12.25%	17.31%	19.72%	21.61%
Effective Tax Rate	18.33%	16.25%	11.10%	16.79%	12.19%	16.72%
Revenue as Reported	14,945	15,884	15,303	21,226	16,660	15,605
Advertising Expenses	-	17.21	11.91	7.86	13.25	31.75

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