Shanghai Join Buy 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	95.65	88.35	83.02	64.99	95.99
Other Revenue	-	4.35	3.53	3.56	2.65
Revenue	95.65	92.7	86.55	68.54	98.64
Revenue Growth (YoY)	3.17%	7.11%	26.27%	-30.51%	5.67%
Cost of Revenue	74.32	72.82	63.55	53.51	73.51
Gross Profit	21.32	19.88	23	15.04	25.13
Selling, General & Admin	46.68	47.21	47.77	42.4	48.44
Research & Development	0.35	0.58	0.66	0.52	0.02
Other Operating Expenses	0.24	1.91	1.76	1.16	1.86
Operating Expenses	47.27	49.86	50.58	43.35	52.38
Operating Income	-25.95	-29.98	-27.58	-28.32	-27.25
Interest Expense	-	-0.87	-1.17	-1.29	-1.2
Interest & Investment Income	69.74	72.73	83.63	73.8	103.73
Other Non Operating Income (Expenses)	1.53	-0.04	-0.04	-0.04	-0.07
EBT Excluding Unusual Items	45.31	41.83	54.83	44.16	75.21
Gain (Loss) on Sale of Assets	0.04	-	7.95	-	28.48
Asset Writedown	-	-	0.01	-0	-0.41
Other Unusual Items	-	0.2	-0.59	8.15	-0.83
Pretax Income	45.35	42.04	62.2	52.3	102.45
Income Tax Expense	0.02	0	-	-	-
Net Income	45.33	42.03	62.2	52.3	102.45
Net Income to Common	45.33	42.03	62.2	52.3	102.45
Net Income Growth	7.85%	-32.42%	18.92%	-48.95%	91.92%
Shares Outstanding (Basic)	401	401	401	401	401
Shares Outstanding (Diluted)	401	401	401	401	401
Shares Change (YoY)	-0.02%	-0.03%	0.06%	-0.01%	0.01%
EPS (Basic)	0.11	0.10	0.16	0.13	0.26
EPS (Diluted)	0.11	0.10	0.16	0.13	0.26
EPS Growth	7.92%	-32.43%	18.85%	-48.94%	91.89%
Free Cash Flow	2.47	-2.43	-1.53	1.19	-0.35
Free Cash Flow Per Share	0.01	-0.01	-0.00	0.00	-0.00
Dividend Per Share	-	0.032	0.047	0.040	0.077
Dividend Growth	-	-31.91%	17.50%	-48.05%	92.50%
Gross Margin	22.29%	21.45%	26.57%	21.94%	25.48%
Operating Margin	-27.13%	-32.34%	-31.87%	-41.31%	-27.62%
Profit Margin	47.39%	45.34%	71.86%	76.30%	103.87%
Free Cash Flow Margin	2.58%	-2.62%	-1.77%	1.74%	-0.36%
EBITDA	-8.66	-12.95	-10.66	-11.46	-10.39
EBITDA Margin	-9.06%	-13.97%	-12.32%	-16.71%	-10.53%
D&A For EBITDA	17.29	17.03	16.92	16.86	16.86
EBIT	-25.95	-29.98	-27.58	-28.32	-27.25
EBIT Margin	-27.13%	-32.34%	-31.87%	-41.31%	-27.62%
Effective Tax Rate	0.04%	0.01%	-	-	-
Revenue as Reported	-	92.7	86.55	68.54	98.64

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