SHA:600420 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	8,676	9,218	10,770	11,787	12,810	13,756
Other Revenue	145.01	145.01	167.77	282.98	149.79	189.06
Revenue	8,821	9,363	10,938	12,070	12,959	13,945
Revenue Growth (YoY)	-15.36%	-14.39%	-9.38%	-6.86%	-7.07%	11.06%
Cost of Revenue	6,239	6,438	6,822	7,538	8,091	7,909
Gross Profit	2,582	2,925	4,116	4,532	4,868	6,036
Selling, General & Admin	1,206	1,280	1,921	2,906	3,414	4,220
Research & Development	405.67	437.58	565.65	562.24	517.14	584.97
Other Operating Expenses	83.1	78.12	78.88	99	113.17	128.31
Operating Expenses	1,707	1,812	2,563	3,549	4,027	4,958
Operating Income	874.53	1,114	1,553	983.4	841.24	1,078
Interest Expense	-3.52	-4.39	-36.89	-57.88	-107.31	-110.47
Interest & Investment Income	177.04	177.49	151.08	136.48	61.69	48.84
Currency Exchange Gain (Loss)	2.29	2.29	40.61	28.44	98.32	-32.65
Other Non Operating Income (Expenses)	-23.92	-2.31	-2.01	-4.09	-4.23	-5.75
EBT Excluding Unusual Items	1,026	1,287	1,705	1,086	889.71	978
Impairment of Goodwill	-	-	-	-	-	-132.15
Gain (Loss) on Sale of Investments	-	-	-	-	-	-24.04
Gain (Loss) on Sale of Assets	-2.41	-2.65	-31.31	-31.85	-1.1	0.2
Asset Writedown	-24.44	-32.79	-28.26	-13.13	-4.93	-10.81
Other Unusual Items	65.29	76.19	27.33	55.19	100.45	107
Pretax Income	1,065	1,328	1,673	1,097	984.12	918.21
Income Tax Expense	154.09	185.42	340.97	131.95	116.63	97.06
Earnings From Continuing Operations	910.77	1,142	1,332	964.61	867.48	821.15
Minority Interest in Earnings	-192.18	-200.56	-248.46	-272.73	-239.69	-252.87
Net Income	718.59	941.6	1,084	691.88	627.79	568.28
Net Income to Common	718.59	941.6	1,084	691.88	627.79	568.28
Net Income Growth	-35.48%	-13.11%	56.62%	10.21%	10.47%	-12.41%
Shares Outstanding (Basic)	1,341	1,341	1,341	1,273	1,027	1,027
Shares Outstanding (Diluted)	1,341	1,341	1,341	1,273	1,156	1,178
Shares Change (YoY)	0.00%	-	5.31%	10.13%	-1.82%	-0.14%
EPS (Basic)	0.54	0.70	0.81	0.54	0.61	0.55
EPS (Diluted)	0.54	0.70	0.81	0.54	0.54	0.48
EPS Growth	-35.48%	-13.11%	48.72%	0.07%	12.52%	-12.29%
Free Cash Flow	762.35	1,434	2,036	1,363	2,548	1,158
Free Cash Flow Per Share	0.57	1.07	1.52	1.07	2.20	0.98
Dividend Per Share	0.300	0.300	0.300	0.100	0.100	0.100
Dividend Growth	-	-	200.00%	-	-	-
Gross Margin	29.27%	31.25%	37.63%	37.55%	37.57%	43.28%
Operating Margin	9.92%	11.89%	14.19%	8.15%	6.49%	7.73%
Profit Margin	8.15%	10.06%	9.91%	5.73%	4.84%	4.08%
Free Cash Flow Margin	8.64%	15.32%	18.62%	11.29%	19.66%	8.31%
EBITDA	1,555	1,812	2,325	1,802	1,671	1,857
EBITDA Margin	17.63%	19.36%	21.25%	14.93%	12.90%	13.31%
D&A For EBITDA	680.16	698.59	772.32	818.89	830.01	778.52
EBIT	874.53	1,114	1,553	983.4	841.24	1,078
EBIT Margin	9.92%	11.89%	14.19%	8.15%	6.49%	7.73%
Effective Tax Rate	14.47%	13.97%	20.38%	12.03%	11.85%	10.57%
Revenue as Reported	8,821	9,363	10,938	12,070	12,959	13,945
Advertising Expenses	-	4.69	6.18	4.64	3.29	7.1

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