SHA:600452 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	2,931	2,994	3,114	3,439	3,559	3,144
Other Revenue	2.06	2.06	2.71	3.23	3.11	1.19
Revenue	2,933	2,996	3,117	3,442	3,562	3,146
Revenue Growth (YoY)	-4.96%	-3.86%	-9.46%	-3.36%	13.25%	18.50%
Selling, General & Admin	124.96	123.84	121.84	122.53	133.84	127.54
Provision for Bad Debts	43	43	-51.61	14.29	27.96	35
Other Operating Expenses	2,309	2,414	2,488	2,725	2,769	2,433
Total Operating Expenses	2,477	2,581	2,558	2,863	2,931	2,596
Operating Income	456.31	415.28	558.54	578.96	631.51	549.77
Interest Expense	-0.95	-0.95	-0.82	-4.92	-10.99	-45.52
Interest Income	42.22	42.22	40.85	33.33	27.15	38.48
Net Interest Expense	41.27	41.27	40.03	28.4	16.16	-7.04
Income (Loss) on Equity Investments	3.55	4.6	4.55	3.38	-	-
Other Non-Operating Income (Expenses)	6.56	-0.15	-0.31	-1.16	-2.23	-0.71
EBT Excluding Unusual Items	507.69	461	602.82	609.58	645.44	542.03
Gain (Loss) on Sale of Investments	-	-	-	-	-	-8.36
Gain (Loss) on Sale of Assets	2.15	2.15	3.54	-0.56	-3.55	1.05
Other Unusual Items	10.47	10.47	8.7	10.09	35.33	6.54
Pretax Income	520.31	473.62	615.06	619.11	677.22	541.24
Income Tax Expense	88.58	80.35	100.61	93.76	64.58	35.39
Net Income	431.73	393.27	514.46	525.35	612.65	505.86
Net Income to Common	431.73	393.27	514.46	525.35	612.65	505.86
Net Income Growth	-13.13%	-23.55%	-2.07%	-14.25%	21.11%	26.22%
Shares Outstanding (Basic)	1,539	1,513	1,559	1,545	1,532	1,545
Shares Outstanding (Diluted)	1,539	1,513	1,559	1,545	1,532	1,545
Shares Change (YoY)	-0.70%	-2.97%	0.89%	0.88%	-0.87%	24.29%
EPS (Basic)	0.28	0.26	0.33	0.34	0.40	0.33
EPS (Diluted)	0.28	0.26	0.33	0.34	0.40	0.33
EPS Growth	-12.52%	-21.21%	-2.94%	-15.00%	22.18%	1.55%
Free Cash Flow	550.92	341.38	714.78	525.45	1,159	-351.1
Free Cash Flow Per Share	0.36	0.23	0.46	0.34	0.76	-0.23
Dividend Per Share	0.103	0.103	0.105	0.104	0.107	0.079
Dividend Growth	-1.91%	-1.91%	1.35%	-3.36%	35.18%	1.80%
Profit Margin	14.72%	13.13%	16.51%	15.26%	17.20%	16.08%
Free Cash Flow Margin	18.78%	11.39%	22.93%	15.26%	32.55%	-11.16%
EBITDA	1,107	1,094	1,349	1,574	1,677	1,559
EBITDA Margin	37.73%	36.51%	43.29%	45.73%	47.06%	49.58%
D&A For EBITDA	650.51	678.54	790.66	995.37	1,045	1,010
EBIT	456.31	415.28	558.54	578.96	631.51	549.77
EBIT Margin	15.56%	13.86%	17.92%	16.82%	17.73%	17.48%
Effective Tax Rate	17.02%	16.96%	16.36%	15.14%	9.54%	6.54%

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