Shanghai Bailian (Group) 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	23,277	23,955	26,782	29,643	31,428	33,571
Other Revenue	829.97	829.97	892.55	875.76	857.52	1,079
Revenue	24,107	24,785	27,675	30,519	32,286	34,650
Revenue Growth (YoY)	-8.82%	-10.44%	-9.32%	-5.47%	-6.82%	-1.62%
Cost of Revenue	18,144	18,623	20,520	22,430	24,237	25,393
Gross Profit	5,963	6,162	7,155	8,089	8,048	9,257
Selling, General & Admin	5,821	5,961	6,784	7,283	7,659	7,841
Research & Development	8.82	8.88	7.45	18.67	17.77	21.76
Other Operating Expenses	311.23	312.76	345.68	366.62	282.89	367.54
Operating Expenses	6,139	6,280	7,144	7,677	7,961	8,231
Operating Income	-175.94	-118.03	11.04	412.64	87.41	1,026
Interest Expense	-450.35	-450.35	-527.36	-578.46	-639.37	-647.99
Interest & Investment Income	662.94	826.49	2,475	625.48	1,282	700.05
Currency Exchange Gain (Loss)	-0.28	-0.28	-0.24	-0.01	-0.45	-0.34
Other Non Operating Income (Expenses)	-39.52	-23.55	-35.4	64.45	-95.22	-15.28
EBT Excluding Unusual Items	-3.15	234.28	1,923	524.1	634.31	1,062
Merger & Restructuring Charges	-32.85	-32.85	-56.2	-72.47	-23.07	-3.35
Impairment of Goodwill	-1.92	-1.92	-1.92	-1.92	-1.92	-
Gain (Loss) on Sale of Investments	86.5	66.04	129.38	-197.19	-16.52	14.4
Gain (Loss) on Sale of Assets	1,424	601.43	133.54	49.26	30.59	59.71
Asset Writedown	-54.91	-54.43	-16.37	-16.47	-38.79	-113.68
Other Unusual Items	208.87	208.87	149.04	184.53	426.36	160.6
Pretax Income	1,627	1,021	2,260	469.84	1,011	1,180
Income Tax Expense	624.76	466.57	876.96	526.55	411.04	546.85
Earnings From Continuing Operations	1,002	554.86	1,383	-56.72	599.91	632.79
Minority Interest in Earnings	228.07	76.22	183.98	455.83	74.16	119.73
Net Income	1,230	631.08	1,567	399.11	674.07	752.52
Net Income to Common	1,230	631.08	1,567	399.11	674.07	752.52
Net Income Growth	-21.53%	-59.74%	292.73%	-40.79%	-10.42%	-2.30%
Shares Outstanding (Basic)	1,803	1,803	1,781	1,784	1,784	1,792
Shares Outstanding (Diluted)	1,803	1,803	1,781	1,784	1,784	1,792
Shares Change (YoY)	0.74%	1.23%	-0.17%	-	-0.42%	0.03%
EPS (Basic)	0.68	0.35	0.88	0.22	0.38	0.42
EPS (Diluted)	0.68	0.35	0.88	0.22	0.38	0.42
EPS Growth	-22.11%	-60.23%	300.00%	-41.77%	-10.05%	-2.33%
Free Cash Flow	1,054	-500.67	2,414	2,496	2,489	2,170
Free Cash Flow Per Share	0.58	-0.28	1.35	1.40	1.40	1.21
Dividend Per Share	0.150	0.150	0.265	0.120	0.120	0.150
Dividend Growth	-43.40%	-43.40%	120.83%	-	-20.00%	-
Gross Margin	24.73%	24.86%	25.85%	26.51%	24.93%	26.71%
Operating Margin	-0.73%	-0.48%	0.04%	1.35%	0.27%	2.96%
Profit Margin	5.10%	2.55%	5.66%	1.31%	2.09%	2.17%
Free Cash Flow Margin	4.37%	-2.02%	8.72%	8.18%	7.71%	6.26%
EBITDA	894.94	971.77	1,177	1,529	1,244	2,172
EBITDA Margin	3.71%	3.92%	4.25%	5.01%	3.85%	6.27%
D&A For EBITDA	1,071	1,090	1,165	1,116	1,157	1,146
EBIT	-175.94	-118.03	11.04	412.64	87.41	1,026
EBIT Margin	-0.73%	-0.48%	0.04%	1.35%	0.27%	2.96%
Effective Tax Rate	38.40%	45.68%	38.80%	112.07%	40.66%	46.36%
Revenue as Reported	24,785	24,785	27,675	30,519	32,286	34,650

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