SHA:600409 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	Sep '26 Sep 30, 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	19,264	18,386	20,933	21,486	23,128	22,131
Other Revenue	445.17	445.17	428.38	434.07	552.2	1,051
Revenue	19,709	18,831	21,361	21,920	23,680	23,182
Revenue Growth	1.34%	-11.84%	-2.55%	-7.43%	2.15%	30.38%
Cost of Revenue	17,261	16,493	18,016	17,507	19,218	18,151
Gross Profit	2,448	2,339	3,346	4,413	4,461	5,031
Selling, General & Admin	1,461	1,451	1,578	1,850	1,814	1,899
Research & Development	461.79	534.92	607.49	595.51	330.22	221.36
Other Operating Expenses	206.17	213.48	255.52	308.8	312.81	336.97
Operating Expenses	2,131	2,203	2,438	2,753	2,459	2,475
Operating Income	317.1	136.08	907.73	1,661	2,003	2,557
Interest Expense	-130.21	-134.82	-144.68	-246.48	-264.19	-278.53
Interest & Investment Income	25.69	40.89	45.78	58.95	49.56	35.17
Currency Exchange Gain (Loss)	-10.14	-10.14	-21.06	-5.6	-70.6	38.3
Other Non Operating Income (Expenses)	15.56	-34.4	-45.03	-65.69	-56.52	-74.42
EBT Excluding Unusual Items	218	-2.4	742.73	1,402	1,661	2,277
Gain (Loss) on Sale of Investments	30.2	0.04	-	-	-	-
Gain (Loss) on Sale of Assets	-4.16	-4.57	-11.48	-23.33	-23.05	-29.07
Asset Writedown	-19.88	-4.96	-9.15	-9.92	-	-8.72
Other Unusual Items	52.28	108.45	108.57	46.05	51.37	66.68
Pretax Income	276.44	96.56	830.68	1,415	1,689	2,306
Income Tax Expense	89.35	44.68	176.8	482.44	364.93	456.5
Earnings From Continuing Operations	187.09	51.88	653.88	932.2	1,324	1,849
Minority Interest in Earnings	53.79	37.65	-154.86	-366.53	-335.57	-178.41
Net Income	240.88	89.53	499.02	565.67	988.69	1,671
Net Income to Common	240.88	89.53	499.02	565.67	988.69	1,671
Net Income Growth	6.60%	-82.06%	-11.78%	-42.79%	-40.83%	133.04%
Shares Outstanding (Basic)	2,061	2,063	2,065	2,064	2,064	2,064
Shares Outstanding (Diluted)	2,061	2,063	2,065	2,064	2,064	2,064
Shares Change	-0.19%	-0.09%	0.01%	-	0.01%	0.01%
EPS (Basic)	0.12	0.04	0.24	0.27	0.48	0.81
EPS (Diluted)	0.12	0.04	0.24	0.27	0.48	0.81
EPS Growth	6.82%	-82.04%	-11.79%	-42.79%	-40.84%	133.02%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Free Cash Flow	704.47	-696.92	715.27	1,340	2,031	1,513
Free Cash Flow Per Share	0.34	-0.34	0.35	0.65	0.98	0.73
Dividend Per Share	0.030	0.030	0.073	0.083	0.146	0.245
Dividend Growth	-58.90%	-58.90%	-12.05%	-43.15%	-40.41%	0%
Gross Margin	12.42%	12.42%	15.66%	20.13%	18.84%	21.70%
Operating Margin	1.61%	0.72%	4.25%	7.58%	8.46%	11.03%
Profit Margin	1.22%	0.47%	2.34%	2.58%	4.17%	7.21%
Free Cash Flow Margin	3.57%	-3.70%	3.35%	6.12%	8.58%	6.53%
EBITDA	1,615	1,387	2,097	2,828	3,160	3,737
EBITDA Margin	8.19%	7.37%	9.82%	12.90%	13.35%	16.12%
D&A For EBITDA	1,298	1,251	1,189	1,168	1,158	1,180
EBIT	317.1	136.08	907.73	1,661	2,003	2,557
EBIT Margin	1.61%	0.72%	4.25%	7.58%	8.46%	11.03%
Effective Tax Rate	32.32%	46.27%	21.28%	34.10%	21.60%	19.80%
Revenue as Reported	19,709	18,831	21,361	21,920	23,680	23,182
Advertising Expenses	-	0.05	0.01	0.05	-	-