SHA:600511 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	52,421	50,500	49,592	45,436	46,442
Other Revenue	47.56	97.79	103.99	62.95	26.26
Revenue	52,468	50,597	49,696	45,499	46,469
Revenue Growth (YoY)	3.70%	1.81%	9.22%	-2.09%	15.08%
Cost of Revenue	49,014	47,003	45,704	41,681	42,848
Gross Profit	3,454	3,594	3,992	3,817	3,621
Selling, General & Admin	1,190	1,267	1,430	1,392	1,355
Research & Development	69.31	73.71	71.2	67	55.75
Other Operating Expenses	134.92	126.25	109.69	46.91	120.86
Operating Expenses	1,428	1,489	1,620	1,498	1,566
Operating Income	2,026	2,105	2,372	2,319	2,055
Interest Expense	-27.17	-33.66	-31.57	-26.88	-43.71
Interest & Investment Income	622.87	620.95	525.32	362.42	354.09
Currency Exchange Gain (Loss)	-2.87	1.94	0.55	-1.65	2.71
Other Non Operating Income (Expenses)	-4.18	-7.04	-9.23	-43.29	-18
EBT Excluding Unusual Items	2,615	2,687	2,857	2,609	2,350
Gain (Loss) on Sale of Investments	0.07	-18.2	10.82	-	-
Gain (Loss) on Sale of Assets	0.21	-0.19	0.08	1.68	-0.07
Other Unusual Items	-14.76	-14.9	62.81	76.9	95.08
Pretax Income	2,600	2,654	2,931	2,688	2,445
Income Tax Expense	510.74	523.83	596.42	559.18	516.3
Earnings From Continuing Operations	2,089	2,130	2,334	2,129	1,929
Minority Interest in Earnings	-92.81	-129.65	-188.47	-164.65	-174.42
Net Income	1,997	2,000	2,146	1,964	1,754
Net Income to Common	1,997	2,000	2,146	1,964	1,754
Net Income Growth	-0.18%	-6.80%	9.26%	11.97%	26.86%
Shares Outstanding (Basic)	755	755	754	755	755
Shares Outstanding (Diluted)	755	755	754	755	755
Shares Change (YoY)	0.00%	0.00%	-0.00%	-	0.00%
EPS (Basic)	2.65	2.65	2.84	2.60	2.32
EPS (Diluted)	2.65	2.65	2.84	2.60	2.32
EPS Growth	-0.18%	-6.80%	9.27%	11.97%	26.86%
Free Cash Flow	1,937	1,528	2,582	2,265	1,862
Free Cash Flow Per Share	2.57	2.03	3.42	3.00	2.47
Dividend Per Share	0.800	0.800	0.854	0.782	0.700
Dividend Growth	-	-6.32%	9.21%	11.71%	27.27%
Gross Margin	6.58%	7.10%	8.03%	8.39%	7.79%
Operating Margin	3.86%	4.16%	4.77%	5.10%	4.42%
Profit Margin	3.81%	3.95%	4.32%	4.32%	3.77%
Free Cash Flow Margin	3.69%	3.02%	5.20%	4.98%	4.01%
EBITDA	2,144	2,223	2,485	2,423	2,155
EBITDA Margin	4.09%	4.39%	5.00%	5.32%	4.64%
D&A For EBITDA	118.49	118.63	113.09	103.86	100.1
EBIT	2,026	2,105	2,372	2,319	2,055
EBIT Margin	3.86%	4.16%	4.77%	5.10%	4.42%
Effective Tax Rate	19.64%	19.74%	20.35%	20.80%	21.12%
Revenue as Reported	52,468	50,597	49,696	45,499	46,469
Advertising Expenses	2.91	4.74	6.7	3.25	2.25

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