SHA:600352 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	13,570	13,187	15,780	15,127	21,097	16,459
Other Revenue	126.27	126.27	103.87	176.05	128.8	200.82
Revenue	13,696	13,313	15,884	15,303	21,226	16,660
Revenue Growth (YoY)	-12.39%	-16.18%	3.79%	-27.90%	27.41%	6.76%
Cost of Revenue	9,476	9,393	11,683	11,499	14,914	11,028
Gross Profit	4,219	3,920	4,200	3,804	6,311	5,632
Selling, General & Admin	1,363	1,379	1,447	1,337	1,551	1,560
Research & Development	565.03	582.23	600.66	580.51	709.41	652.53
Other Operating Expenses	101.26	85.71	103.3	46.44	337.86	137.43
Operating Expenses	2,040	2,057	2,166	1,930	2,636	2,346
Operating Income	2,180	1,863	2,034	1,874	3,675	3,286
Interest Expense	-265.1	-265.1	-403.6	-430.69	-281.94	-355.53
Interest & Investment Income	724.88	730.2	697.22	838.12	627.3	1,362
Currency Exchange Gain (Loss)	-158.82	-158.82	235.42	108.54	74.83	45.62
Other Non Operating Income (Expenses)	-350.39	-19.82	-19.53	-20.14	-29.21	-36.81
EBT Excluding Unusual Items	2,130	2,150	2,544	2,370	4,066	4,302
Merger & Restructuring Charges	-	-	-	-47.47	8.03	15.63
Impairment of Goodwill	-	-	-	-22.27	-	-
Gain (Loss) on Sale of Investments	142.1	156.73	-236.81	-490.42	-565.17	-432.92
Gain (Loss) on Sale of Assets	161.5	5.51	462.4	135.27	141.82	13.12
Asset Writedown	-4.66	-	-6.43	-84.81	-27.86	-11.02
Other Unusual Items	40.84	40.84	48.92	89.09	375.29	412.57
Pretax Income	2,470	2,353	2,812	1,949	3,998	4,299
Income Tax Expense	273.98	234.68	456.94	216.36	671.29	524.05
Earnings From Continuing Operations	2,196	2,118	2,355	1,733	3,327	3,775
Minority Interest in Earnings	-226	-289.29	-324.57	-199.03	-323.42	-401.07
Net Income	1,970	1,829	2,030	1,534	3,003	3,374
Net Income to Common	1,970	1,829	2,030	1,534	3,003	3,374
Net Income Growth	-11.60%	-9.91%	32.36%	-48.92%	-10.99%	-19.21%
Shares Outstanding (Basic)	3,253	3,253	3,223	3,131	3,210	3,235
Shares Outstanding (Diluted)	3,253	3,253	3,223	3,131	3,210	3,235
Shares Change (YoY)	0.19%	0.95%	2.94%	-2.47%	-0.80%	1.12%
EPS (Basic)	0.61	0.56	0.63	0.49	0.94	1.04
EPS (Diluted)	0.60	0.56	0.63	0.49	0.94	1.04
EPS Growth	-12.09%	-11.11%	28.57%	-47.63%	-10.27%	-20.10%
Free Cash Flow	3,395	5,565	9,129	2,523	367.86	4,056
Free Cash Flow Per Share	1.04	1.71	2.83	0.81	0.12	1.25
Dividend Per Share	0.300	0.300	0.450	0.250	0.250	0.250
Dividend Growth	-33.33%	-33.33%	80.00%	-	-	-
Gross Margin	30.81%	29.45%	26.44%	24.86%	29.73%	33.81%
Operating Margin	15.92%	14.00%	12.81%	12.25%	17.31%	19.72%
Profit Margin	14.39%	13.74%	12.78%	10.02%	14.15%	20.25%
Free Cash Flow Margin	24.79%	41.80%	57.48%	16.49%	1.73%	24.35%
EBITDA	2,985	2,689	2,940	2,797	4,555	4,133
EBITDA Margin	21.80%	20.20%	18.51%	18.28%	21.46%	24.81%
D&A For EBITDA	805.6	825.65	905.85	923.3	880.35	846.54
EBIT	2,180	1,863	2,034	1,874	3,675	3,286
EBIT Margin	15.92%	14.00%	12.81%	12.25%	17.31%	19.72%
Effective Tax Rate	11.09%	9.97%	16.25%	11.10%	16.79%	12.19%
Revenue as Reported	13,313	13,313	15,884	15,303	21,226	16,660
Advertising Expenses	-	10.67	17.21	11.91	7.86	13.25

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