SHA:601928 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	11,351	11,692	12,981	13,136	13,146	11,962
Other Revenue	654.23	654.23	624.62	509.4	449.37	554.72
Revenue	12,005	12,347	13,606	13,645	13,596	12,517
Revenue Growth (YoY)	-10.99%	-9.25%	-0.29%	0.36%	8.62%	3.15%
Cost of Revenue	7,551	7,661	8,439	8,734	8,661	8,171
Gross Profit	4,454	4,685	5,167	4,911	4,935	4,346
Selling, General & Admin	3,246	3,334	3,456	3,323	3,273	3,087
Research & Development	44.49	43.02	42.19	45.28	57.68	34.02
Other Operating Expenses	42.7	58.64	55.15	10.7	12.84	58.47
Operating Expenses	3,333	3,436	3,527	3,334	3,389	3,197
Operating Income	1,121	1,249	1,640	1,577	1,546	1,149
Interest Expense	-12.66	-12.66	-16.33	-24.17	-34.18	-28.09
Interest & Investment Income	434.05	428.5	511.06	588.74	571.89	909.5
Currency Exchange Gain (Loss)	-12.91	-12.91	9.96	7.26	-1.04	-1.39
Other Non Operating Income (Expenses)	-1.76	24.44	-31.72	-5.13	-51.91	-56.55
EBT Excluding Unusual Items	1,527	1,677	2,113	2,144	2,031	1,973
Impairment of Goodwill	-54.02	-54.02	-19.14	-9.45	-9.48	-12.29
Gain (Loss) on Sale of Investments	45.82	45.82	3.27	-10.69	-4.89	7.57
Gain (Loss) on Sale of Assets	0.92	0.63	76.91	33.22	9.05	412.34
Asset Writedown	64.38	-	0.94	-	-	-0.26
Other Unusual Items	163.01	163.01	91.35	170.63	102.39	127.74
Pretax Income	1,748	1,832	2,266	2,328	2,128	2,508
Income Tax Expense	13.55	13.16	669.85	-633.07	20.6	25.63
Earnings From Continuing Operations	1,734	1,819	1,596	2,961	2,107	2,482
Net Income to Company	1,734	1,819	1,596	2,961	2,107	2,482
Minority Interest in Earnings	-22.64	-24.01	1.2	-8.88	-25.51	-25.48
Net Income	1,711	1,795	1,598	2,952	2,082	2,457
Net Income to Common	1,711	1,795	1,598	2,952	2,082	2,457
Net Income Growth	-2.10%	12.37%	-45.88%	41.80%	-15.26%	53.98%
Shares Outstanding (Basic)	2,528	2,528	2,536	2,545	2,545	2,545
Shares Outstanding (Diluted)	2,528	2,528	2,536	2,545	2,545	2,545
Shares Change (YoY)	-0.29%	-0.29%	-0.36%	-0.01%	0.01%	-0.01%
EPS (Basic)	0.68	0.71	0.63	1.16	0.82	0.97
EPS (Diluted)	0.68	0.71	0.63	1.16	0.82	0.97
EPS Growth	-1.82%	12.70%	-45.69%	41.81%	-15.27%	54.00%
Free Cash Flow	1,063	1,339	1,594	2,136	1,899	2,297
Free Cash Flow Per Share	0.42	0.53	0.63	0.84	0.75	0.90
Dividend Per Share	0.500	0.500	0.500	0.500	0.500	0.500
Dividend Growth	-	-	-	-	-	25.00%
Gross Margin	37.10%	37.95%	37.97%	35.99%	36.30%	34.72%
Operating Margin	9.34%	10.12%	12.05%	11.56%	11.37%	9.18%
Profit Margin	14.26%	14.54%	11.74%	21.63%	15.31%	19.63%
Free Cash Flow Margin	8.85%	10.84%	11.71%	15.65%	13.97%	18.35%
EBITDA	1,491	1,637	2,096	2,037	1,964	1,521
EBITDA Margin	12.42%	13.26%	15.41%	14.93%	14.45%	12.15%
D&A For EBITDA	370.2	387.48	456.56	459.69	417.9	371.66
EBIT	1,121	1,249	1,640	1,577	1,546	1,149
EBIT Margin	9.34%	10.12%	12.05%	11.56%	11.37%	9.18%
Effective Tax Rate	0.78%	0.72%	29.56%	-	0.97%	1.02%
Revenue as Reported	12,347	12,347	13,606	13,645	13,596	12,517
Advertising Expenses	-	163.76	254.72	205.13	197.08	205.75

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