SHA:601900 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	8,725	8,920	9,127	8,879	8,230	6,638
Other Revenue	251.88	251.88	238.21	182.82	266.27	258.44
Revenue	8,977	9,172	9,365	9,061	8,496	6,897
Revenue Growth (YoY)	-4.47%	-2.07%	3.35%	6.65%	23.19%	5.69%
Cost of Revenue	5,875	6,125	6,397	6,229	5,833	4,912
Gross Profit	3,102	3,046	2,968	2,833	2,663	1,985
Selling, General & Admin	1,829	1,921	1,945	1,741	1,717	1,330
Research & Development	28.78	8.88	8.98	7.49	7.87	-
Other Operating Expenses	19.3	7.5	-7.5	-85.37	-51.32	-6.82
Operating Expenses	1,904	1,968	1,969	1,684	1,740	1,341
Operating Income	1,198	1,079	999.23	1,149	923.27	643.37
Interest Expense	-8.91	-14.59	-13.14	-20.77	-18.83	-14.82
Interest & Investment Income	84.23	101.02	127.04	121.61	88.52	74.34
Currency Exchange Gain (Loss)	-2.43	-2.43	-0.55	-4.2	0.44	0.12
Other Non Operating Income (Expenses)	-13.11	-11.88	-3.54	-4.36	-4.47	-3.06
EBT Excluding Unusual Items	1,258	1,151	1,109	1,241	988.92	699.95
Gain (Loss) on Sale of Investments	-17.71	-88.4	143.49	-112.57	132.35	-4.16
Gain (Loss) on Sale of Assets	1.59	1.05	3.56	3.64	0.32	-0.41
Asset Writedown	-5.55	-0.2	-	-	-	-
Other Unusual Items	52.79	52.79	95.57	-6.44	-7.73	81.08
Pretax Income	1,289	1,116	1,352	1,126	1,114	776.46
Income Tax Expense	0.89	176.23	-89.28	51.95	76.61	6.97
Earnings From Continuing Operations	1,288	939.98	1,441	1,074	1,037	769.49
Minority Interest in Earnings	-156.57	-130.18	-157.32	-118.65	-68.17	-9.05
Net Income	1,131	809.81	1,284	955.15	969.08	760.44
Net Income to Common	1,131	809.81	1,284	955.15	969.08	760.44
Net Income Growth	-0.10%	-36.91%	34.39%	-1.44%	27.44%	3.73%
Shares Outstanding (Basic)	883	880	879	884	897	895
Shares Outstanding (Diluted)	883	880	879	884	897	895
Shares Change (YoY)	0.61%	0.12%	-0.59%	-1.44%	0.30%	0.07%
EPS (Basic)	1.28	0.92	1.46	1.08	1.08	0.85
EPS (Diluted)	1.28	0.92	1.46	1.08	1.08	0.85
EPS Growth	-0.71%	-36.99%	35.19%	-	27.06%	3.66%
Free Cash Flow	1,128	633.96	1,010	2,205	875.4	447
Free Cash Flow Per Share	1.28	0.72	1.15	2.49	0.98	0.50
Dividend Per Share	0.550	0.550	0.540	0.470	0.330	0.310
Dividend Growth	1.85%	1.85%	14.89%	42.42%	6.45%	24.00%
Gross Margin	34.55%	33.22%	31.70%	31.26%	31.35%	28.78%
Operating Margin	13.34%	11.76%	10.67%	12.68%	10.87%	9.33%
Profit Margin	12.60%	8.83%	13.71%	10.54%	11.41%	11.03%
Free Cash Flow Margin	12.56%	6.91%	10.78%	24.33%	10.30%	6.48%
EBITDA	1,323	1,214	1,149	1,278	1,051	761.04
EBITDA Margin	14.74%	13.24%	12.26%	14.11%	12.38%	11.03%
D&A For EBITDA	124.97	135.43	149.37	129.3	128.17	117.67
EBIT	1,198	1,079	999.23	1,149	923.27	643.37
EBIT Margin	13.34%	11.76%	10.67%	12.68%	10.87%	9.33%
Effective Tax Rate	0.07%	15.79%	-	4.61%	6.88%	0.90%
Revenue as Reported	8,977	9,172	9,365	9,061	8,496	6,897
Advertising Expenses	-	233.92	265.13	218.06	216.77	199.12

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.