SHA:600648 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	5,836	5,844	7,079	7,532	9,026	8,614
Other Revenue	126.87	125.43	160.24	162.87	175.05	270.3
Revenue	5,963	5,969	7,240	7,695	9,201	8,884
Revenue Growth (YoY)	-18.25%	-17.55%	-5.92%	-16.37%	3.57%	-13.06%
Cost of Revenue	4,292	4,259	4,862	4,888	6,006	6,030
Gross Profit	1,671	1,710	2,378	2,807	3,195	2,854
Selling, General & Admin	744.3	741.63	762.4	809.02	781.38	760.08
Research & Development	28.68	28.08	26.14	25.86	24.18	24.43
Other Operating Expenses	225.75	217.37	414.39	556.69	643.54	388.99
Operating Expenses	999.73	988.09	1,201	1,396	1,449	1,179
Operating Income	671.29	722.27	1,176	1,411	1,746	1,675
Interest Expense	-451.69	-454.3	-539.14	-477.96	-543.52	-527.82
Interest & Investment Income	981.63	982.39	524.03	100.18	495.3	130.61
Currency Exchange Gain (Loss)	-1.9	-1.21	1.47	1.71	9.74	1.86
Other Non Operating Income (Expenses)	-1.33	-1.19	-5.94	38.75	-134.18	22.08
EBT Excluding Unusual Items	1,198	1,248	1,156	1,073	1,573	1,302
Gain (Loss) on Sale of Investments	17.2	13.65	26.33	22.37	4.9	5.83
Gain (Loss) on Sale of Assets	-0.09	-0.13	9.29	66.86	2.3	0.3
Asset Writedown	-0.14	-0.14	-0.19	-	-6.46	-2.95
Legal Settlements	-	-	-	-	-10.83	-
Other Unusual Items	56.73	56.73	106.78	89.95	101	31.84
Pretax Income	1,272	1,318	1,299	1,253	1,664	1,337
Income Tax Expense	351.85	372.01	334.43	311.36	409.31	386.41
Earnings From Continuing Operations	919.84	946.07	964.25	941.22	1,255	950.42
Minority Interest in Earnings	-10.44	-10.73	-12.82	-12.7	-13.74	-13.31
Net Income	909.41	935.33	951.43	928.52	1,241	937.11
Net Income to Common	909.41	935.33	951.43	928.52	1,241	937.11
Net Income Growth	-4.58%	-1.69%	2.47%	-25.17%	32.41%	29.86%
Shares Outstanding (Basic)	1,337	1,281	1,133	1,132	1,138	1,129
Shares Outstanding (Diluted)	1,337	1,281	1,133	1,132	1,138	1,129
Shares Change (YoY)	18.10%	13.12%	0.03%	-0.53%	0.82%	0.13%
EPS (Basic)	0.68	0.73	0.84	0.82	1.09	0.83
EPS (Diluted)	0.68	0.73	0.84	0.82	1.09	0.83
EPS Growth	-19.21%	-13.10%	2.44%	-24.77%	31.32%	29.69%
Free Cash Flow	-608.85	-1,115	-3,460	-458.04	-2,128	3,435
Free Cash Flow Per Share	-0.46	-0.87	-3.06	-0.41	-1.87	3.04
Dividend Per Share	0.350	0.350	0.350	0.410	0.330	0.825
Dividend Growth	-	-	-14.63%	24.24%	-60.02%	312.70%
Gross Margin	28.02%	28.65%	32.84%	36.47%	34.72%	32.13%
Operating Margin	11.26%	12.10%	16.24%	18.33%	18.97%	18.85%
Profit Margin	15.25%	15.67%	13.14%	12.07%	13.48%	10.55%
Free Cash Flow Margin	-10.21%	-18.67%	-47.79%	-5.95%	-23.12%	38.67%
EBITDA	1,545	1,586	1,999	2,213	2,555	2,478
EBITDA Margin	25.91%	26.56%	27.61%	28.76%	27.77%	27.90%
D&A For EBITDA	873.65	863.42	822.51	802.48	809.6	803.31
EBIT	671.29	722.27	1,176	1,411	1,746	1,675
EBIT Margin	11.26%	12.10%	16.24%	18.33%	18.97%	18.85%
Effective Tax Rate	27.67%	28.22%	25.75%	24.86%	24.60%	28.90%
Revenue as Reported	5,969	5,969	7,240	7,695	9,201	8,884
Advertising Expenses	-	10.88	19.36	26.55	9.27	8.71

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