SHA:600480 Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	18,950	18,228	17,997	16,102	15,135	13,078
Other Revenue	609.75	609.75	704.83	586.33	615.11	461.82
Revenue	19,559	18,837	18,702	16,689	15,750	13,540
Revenue Growth (YoY)	4.90%	0.73%	12.06%	5.96%	16.32%	14.95%
Cost of Revenue	16,314	15,572	15,692	14,252	13,270	11,528
Gross Profit	3,245	3,265	3,010	2,437	2,480	2,012
Selling, General & Admin	1,320	1,346	1,237	1,047	1,063	916.02
Research & Development	883.88	801.77	782.7	622.3	543.22	507.98
Other Operating Expenses	94.01	-17.39	60.39	80.99	80.91	67.09
Operating Expenses	2,293	2,131	2,093	1,764	1,724	1,504
Operating Income	952.33	1,134	916.68	672.9	755.26	507.77
Interest Expense	-72.14	-103.9	-125.99	-128.2	-154.17	-135.6
Interest & Investment Income	114.63	124.06	90.82	79.38	72.75	54.54
Currency Exchange Gain (Loss)	-127.49	-127.49	41.3	51.49	-6.26	-9.28
Other Non Operating Income (Expenses)	132.93	-4.98	-12.56	-6.86	-11.86	-15.85
EBT Excluding Unusual Items	1,000	1,022	910.25	668.7	655.72	401.59
Impairment of Goodwill	-	-	-	-8.52	-	-
Gain (Loss) on Sale of Investments	-	0	-0	0.07	0.01	-0.03
Gain (Loss) on Sale of Assets	3.05	7.28	-1.14	-1.46	10.34	30.23
Asset Writedown	-1.81	-	-1.02	-2.74	-13.38	-0.69
Other Unusual Items	158.78	33.02	50.19	67.07	49.94	70.2
Pretax Income	1,169	1,070	958.28	723.12	702.62	501.29
Income Tax Expense	131.44	120.13	90.26	117.33	157.09	107.35
Earnings From Continuing Operations	1,037	950.12	868.02	605.79	545.52	393.93
Minority Interest in Earnings	-294.22	-294.69	-236.39	-265.18	-270.48	-292.96
Net Income	742.91	655.43	631.63	340.6	275.04	100.97
Net Income to Common	742.91	655.43	631.63	340.6	275.04	100.97
Net Income Growth	7.65%	3.77%	85.45%	23.84%	172.39%	-
Shares Outstanding (Basic)	1,206	1,200	1,190	1,135	993	1,010
Shares Outstanding (Diluted)	1,206	1,200	1,190	1,135	993	1,010
Shares Change (YoY)	1.71%	0.84%	4.81%	14.30%	-1.63%	11.18%
EPS (Basic)	0.62	0.55	0.53	0.30	0.28	0.10
EPS (Diluted)	0.62	0.55	0.53	0.30	0.28	0.10
EPS Growth	5.83%	2.90%	76.93%	8.34%	176.90%	-
Free Cash Flow	965.28	1,624	574.96	723.2	722.27	-33.51
Free Cash Flow Per Share	0.80	1.35	0.48	0.64	0.73	-0.03
Dividend Per Share	0.331	0.308	0.192	0.085	0.077	0.101
Dividend Growth	22.88%	60.01%	127.57%	9.88%	-23.71%	-8.28%
Gross Margin	16.59%	17.34%	16.10%	14.60%	15.74%	14.86%
Operating Margin	4.87%	6.02%	4.90%	4.03%	4.79%	3.75%
Profit Margin	3.80%	3.48%	3.38%	2.04%	1.75%	0.75%
Free Cash Flow Margin	4.93%	8.62%	3.07%	4.33%	4.59%	-0.25%
EBITDA	1,464	1,658	1,459	1,094	1,191	975
EBITDA Margin	7.48%	8.80%	7.80%	6.55%	7.56%	7.20%
D&A For EBITDA	511.37	524.46	541.92	420.79	436.21	467.23
EBIT	952.33	1,134	916.68	672.9	755.26	507.77
EBIT Margin	4.87%	6.02%	4.90%	4.03%	4.79%	3.75%
Effective Tax Rate	11.25%	11.22%	9.42%	16.23%	22.36%	21.41%
Revenue as Reported	19,559	18,837	18,702	16,689	15,750	13,540
Advertising Expenses	-	2.63	2.39	4.8	7.2	1.76

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