SHA:600546 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	21,576	20,429	29,514	37,298	46,339	47,877
Other Revenue	43.6	43.6	46.21	72.85	55.22	176.39
Revenue	21,619	20,472	29,561	37,371	46,394	48,054
Revenue Growth (YoY)	-20.00%	-30.75%	-20.90%	-19.45%	-3.45%	35.66%
Cost of Revenue	13,917	13,208	20,067	22,849	25,697	30,040
Gross Profit	7,702	7,264	9,493	14,522	20,697	18,013
Selling, General & Admin	1,908	1,889	2,104	2,273	2,123	2,072
Research & Development	461.59	461.7	492.95	386.77	335.32	206.39
Other Operating Expenses	1,507	1,443	1,652	1,930	2,245	2,096
Operating Expenses	3,914	3,830	4,235	4,532	4,626	5,358
Operating Income	3,788	3,433	5,259	9,989	16,070	12,655
Interest Expense	-267.94	-271.33	-328.5	-369.32	-599.66	-940.71
Interest & Investment Income	41.98	60.05	115.3	166.79	130.86	168.4
Earnings From Equity Investments	39.68	41.55	28.42	29.32	-112.23	-140.63
Currency Exchange Gain (Loss)	1.2	1.2	0.21	-11.69	-5.47	-4.93
Other Non Operating Income (Expenses)	14.54	-22.57	52.8	-11.94	-35.29	-269.86
EBT Excluding Unusual Items	3,618	3,242	5,127	9,793	15,449	11,468
Gain (Loss) on Sale of Assets	-7.32	-6.7	0.25	-4.33	8.05	27.55
Asset Writedown	-18.78	-18.78	-9.07	-80.13	-77.5	-311.12
Other Unusual Items	-169.23	-134.84	-388.59	-211.83	-310.55	-183.23
Pretax Income	3,423	3,082	4,730	9,496	15,069	11,001
Income Tax Expense	1,551	1,393	1,571	2,697	4,127	3,186
Earnings From Continuing Operations	1,872	1,689	3,158	6,800	10,942	7,815
Minority Interest in Earnings	-532.01	-522.79	-889.87	-2,540	-4,012	-2,877
Net Income	1,340	1,166	2,268	4,260	6,929	4,938
Net Income to Common	1,340	1,166	2,268	4,260	6,929	4,938
Net Income Growth	-30.93%	-48.58%	-46.75%	-38.53%	40.34%	497.42%
Shares Outstanding (Basic)	1,974	1,977	1,990	1,981	1,980	1,983
Shares Outstanding (Diluted)	1,974	1,977	1,990	1,981	1,980	1,983
Shares Change (YoY)	-0.18%	-0.64%	0.43%	0.07%	-0.16%	0.77%
EPS (Basic)	0.68	0.59	1.14	2.15	3.50	2.49
EPS (Diluted)	0.68	0.59	1.14	2.15	3.50	2.49
EPS Growth	-30.80%	-48.25%	-46.98%	-38.57%	40.56%	492.86%
Free Cash Flow	4,419	2,137	1,839	4,039	12,625	15,595
Free Cash Flow Per Share	2.24	1.08	0.92	2.04	6.38	7.86
Dividend Per Share	0.355	0.355	0.690	0.650	2.250	1.567
Dividend Growth	-48.55%	-48.55%	6.15%	-71.11%	43.59%	2274.24%
Gross Margin	35.63%	35.48%	32.12%	38.86%	44.61%	37.49%
Operating Margin	17.52%	16.77%	17.79%	26.73%	34.64%	26.34%
Profit Margin	6.20%	5.70%	7.67%	11.40%	14.94%	10.27%
Free Cash Flow Margin	20.44%	10.44%	6.22%	10.81%	27.21%	32.45%
EBITDA	5,284	4,939	6,803	11,503	17,405	13,782
EBITDA Margin	24.44%	24.12%	23.01%	30.78%	37.52%	28.68%
D&A For EBITDA	1,496	1,505	1,544	1,513	1,335	1,126
EBIT	3,788	3,433	5,259	9,989	16,070	12,655
EBIT Margin	17.52%	16.77%	17.79%	26.73%	34.64%	26.34%
Effective Tax Rate	45.30%	45.19%	33.22%	28.40%	27.39%	28.96%
Revenue as Reported	21,619	20,472	29,561	37,371	46,394	48,054

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