SHA:600477 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	6,556	6,883	7,807	10,648	9,777	9,337
Other Revenue	223.11	223.11	140.29	172.54	158.61	240.93
Revenue	6,780	7,106	7,947	10,820	9,935	9,578
Revenue Growth (YoY)	-12.60%	-10.59%	-26.55%	8.91%	3.73%	17.68%
Cost of Revenue	5,704	5,981	6,689	9,093	8,418	8,256
Gross Profit	1,075	1,125	1,258	1,727	1,517	1,322
Selling, General & Admin	399.92	406.3	506.21	495.52	492.27	461.31
Research & Development	415.74	420.38	416.38	560.04	487.79	383.41
Other Operating Expenses	43.96	35.48	0.47	29.76	45.32	33.73
Operating Expenses	895.03	897.56	1,079	1,248	1,147	966.98
Operating Income	180.38	227.65	178.37	479.6	369.67	354.91
Interest Expense	-160.9	-160.9	-181.38	-161.95	-109.66	-88.38
Interest & Investment Income	3.04	3.04	45.26	5.49	6.91	9.38
Currency Exchange Gain (Loss)	2.34	2.34	1.87	-1.4	0.81	-2.19
Other Non Operating Income (Expenses)	13.89	-6.6	-12.17	-24.81	-15.35	-10.6
EBT Excluding Unusual Items	38.76	65.54	31.95	296.92	252.39	263.12
Gain (Loss) on Sale of Investments	-20.76	-16.18	0.37	-	-53.06	-
Gain (Loss) on Sale of Assets	69.43	70.53	128.45	0.48	-0.58	244.44
Asset Writedown	-8.68	-9.68	-4.81	-0.33	-	-0.71
Other Unusual Items	22.98	22.98	22.15	41.22	29.13	30.83
Pretax Income	101.73	133.19	178.1	338.29	227.88	537.69
Income Tax Expense	28.52	31.42	15.17	15.32	-61.28	49.15
Earnings From Continuing Operations	73.21	101.78	162.93	322.97	289.16	488.53
Minority Interest in Earnings	15.66	14.51	6.02	-29.35	-21.3	-76.94
Net Income	88.88	116.28	168.95	293.62	267.86	411.6
Net Income to Common	88.88	116.28	168.95	293.62	267.86	411.6
Net Income Growth	-42.38%	-31.17%	-42.46%	9.62%	-34.92%	-43.15%
Shares Outstanding (Basic)	2,395	2,373	2,380	2,349	2,160	2,155
Shares Outstanding (Diluted)	2,395	2,373	2,380	2,349	2,160	2,155
Shares Change (YoY)	0.87%	-0.27%	1.30%	8.74%	0.24%	0.02%
EPS (Basic)	0.04	0.05	0.07	0.13	0.12	0.19
EPS (Diluted)	0.04	0.05	0.07	0.13	0.12	0.19
EPS Growth	-42.88%	-30.99%	-43.20%	0.81%	-35.08%	-43.16%
Free Cash Flow	-195.8	-570.82	-1,355	-1,892	-1,436	-1,464
Free Cash Flow Per Share	-0.08	-0.24	-0.57	-0.81	-0.67	-0.68
Dividend Per Share	0.042	0.042	0.070	0.050	0.035	0.060
Dividend Growth	-40.00%	-40.00%	40.00%	42.86%	-41.67%	-42.86%
Gross Margin	15.86%	15.83%	15.83%	15.96%	15.27%	13.80%
Operating Margin	2.66%	3.20%	2.24%	4.43%	3.72%	3.71%
Profit Margin	1.31%	1.64%	2.13%	2.71%	2.70%	4.30%
Free Cash Flow Margin	-2.89%	-8.03%	-17.05%	-17.48%	-14.45%	-15.29%
EBITDA	481.07	523.11	452.93	688.13	540.16	484.11
EBITDA Margin	7.10%	7.36%	5.70%	6.36%	5.44%	5.05%
D&A For EBITDA	300.68	295.46	274.56	208.53	170.49	129.2
EBIT	180.38	227.65	178.37	479.6	369.67	354.91
EBIT Margin	2.66%	3.20%	2.24%	4.43%	3.72%	3.71%
Effective Tax Rate	28.03%	23.59%	8.52%	4.53%	-	9.14%
Revenue as Reported	7,106	7,106	7,947	10,820	9,935	9,578
Advertising Expenses	-	1.74	2.62	3.74	1.93	5.45

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