SHA:601928 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	12,580	12,981	13,136	13,146	11,962	11,537
Other Revenue	624.62	624.62	509.4	449.37	554.72	597.9
Revenue	13,204	13,606	13,645	13,596	12,517	12,135
Revenue Growth (YoY)	-2.58%	-0.29%	0.36%	8.62%	3.15%	-3.58%
Cost of Revenue	7,969	8,439	8,734	8,661	8,171	8,061
Gross Profit	5,235	5,167	4,911	4,935	4,346	4,074
Selling, General & Admin	3,425	3,456	3,323	3,273	3,087	2,817
Research & Development	58.7	42.19	45.28	57.68	34.02	47.05
Other Operating Expenses	35.43	55.15	10.7	12.84	58.47	72.07
Operating Expenses	3,552	3,527	3,334	3,389	3,197	2,967
Operating Income	1,684	1,640	1,577	1,546	1,149	1,107
Interest Expense	-13.45	-16.33	-24.17	-34.18	-28.09	-0.08
Interest & Investment Income	537.11	511.06	588.74	571.89	909.5	392.79
Currency Exchange Gain (Loss)	-9.96	-9.96	7.26	-1.04	-1.39	4.17
Other Non Operating Income (Expenses)	-3.7	-11.81	-5.13	-51.91	-56.55	-45.15
EBT Excluding Unusual Items	2,194	2,113	2,144	2,031	1,973	1,458
Impairment of Goodwill	-19.14	-19.14	-9.45	-9.48	-12.29	-20.86
Gain (Loss) on Sale of Investments	2.11	3.27	-10.69	-4.89	7.57	-1.46
Gain (Loss) on Sale of Assets	79.21	76.91	33.22	9.05	412.34	20.91
Asset Writedown	-126.83	0.94	-	-	-0.26	-
Legal Settlements	-	-	-	-	-	29.97
Other Unusual Items	91.35	91.35	170.63	102.39	127.74	132.52
Pretax Income	2,221	2,266	2,328	2,128	2,508	1,619
Income Tax Expense	258.31	669.85	-633.07	20.6	25.63	5.89
Earnings From Continuing Operations	1,962	1,596	2,961	2,107	2,482	1,613
Net Income to Company	1,962	1,596	2,961	2,107	2,482	1,613
Minority Interest in Earnings	-6.86	1.2	-8.88	-25.51	-25.48	-17.95
Net Income	1,955	1,598	2,952	2,082	2,457	1,596
Net Income to Common	1,955	1,598	2,952	2,082	2,457	1,596
Net Income Growth	-22.44%	-45.88%	41.80%	-15.26%	53.98%	18.75%
Shares Outstanding (Basic)	2,536	2,536	2,545	2,545	2,545	2,545
Shares Outstanding (Diluted)	2,536	2,536	2,545	2,545	2,545	2,545
Shares Change (YoY)	-0.35%	-0.36%	-0.01%	0.01%	-0.01%	0.01%
EPS (Basic)	0.77	0.63	1.16	0.82	0.97	0.63
EPS (Diluted)	0.77	0.63	1.16	0.82	0.97	0.63
EPS Growth	-22.17%	-45.69%	41.81%	-15.27%	54.00%	18.73%
Free Cash Flow	1,326	1,594	2,136	1,899	2,297	2,680
Free Cash Flow Per Share	0.52	0.63	0.84	0.75	0.90	1.05
Dividend Per Share	0.600	0.500	0.500	0.500	0.500	0.400
Dividend Growth	20.00%	-	-	-	25.00%	33.33%
Gross Margin	39.65%	37.97%	35.99%	36.30%	34.72%	33.57%
Operating Margin	12.75%	12.05%	11.56%	11.37%	9.18%	9.12%
Profit Margin	14.81%	11.74%	21.63%	15.31%	19.63%	13.15%
Free Cash Flow Margin	10.04%	11.71%	15.65%	13.97%	18.35%	22.09%
EBITDA	1,997	2,016	2,037	1,964	1,521	1,387
EBITDA Margin	15.13%	14.82%	14.93%	14.45%	12.15%	11.43%
D&A For EBITDA	313.26	376.01	459.69	417.9	371.66	280.49
EBIT	1,684	1,640	1,577	1,546	1,149	1,107
EBIT Margin	12.75%	12.05%	11.56%	11.37%	9.18%	9.12%
Effective Tax Rate	11.63%	29.56%	-	0.97%	1.02%	0.36%
Revenue as Reported	13,204	13,606	13,645	13,596	12,517	12,135
Advertising Expenses	-	254.72	205.13	197.08	205.75	150.47

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