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	Jun '26 Jun 30, 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	10,705	11,692	12,981	13,136	13,146	11,962
Other Revenue	629.26	654.23	624.62	509.4	449.37	554.72
Revenue	11,334	12,347	13,606	13,645	13,596	12,517
Revenue Growth	-15.94%	-9.25%	-0.29%	0.36%	8.62%	3.15%
Cost of Revenue	7,377	7,661	8,439	8,734	8,661	8,171
Gross Profit	3,957	4,685	5,167	4,911	4,935	4,346
Selling, General & Admin	3,173	3,334	3,456	3,323	3,273	3,087
Research & Development	39.48	43.02	42.19	45.28	57.68	34.02
Other Operating Expenses	62.59	58.64	55.15	10.7	12.84	58.47
Operating Expenses	3,246	3,436	3,527	3,334	3,389	3,197
Operating Income	710.69	1,249	1,640	1,577	1,546	1,149
Interest Expense	-14.42	-12.66	-16.33	-24.17	-34.18	-28.09
Interest & Investment Income	424.38	428.5	511.06	588.74	571.89	909.5
Currency Exchange Gain (Loss)	-20.19	-12.91	9.96	7.26	-1.04	-1.39
Other Non Operating Income (Expenses)	38.49	24.44	-31.72	-5.13	-51.91	-56.55
EBT Excluding Unusual Items	1,139	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	49.18	45.82	3.27	-10.69	-4.89	7.57
Gain (Loss) on Sale of Assets	-3.22	0.63	76.91	33.22	9.05	412.34
Asset Writedown	0.6	-	0.94	-	-	-0.26
Other Unusual Items	194.49	163.01	91.35	170.63	102.39	127.74
Pretax Income	1,326	1,832	2,266	2,328	2,128	2,508
Income Tax Expense	11.13	13.16	669.85	-633.07	20.6	25.63
Earnings From Continuing Operations	1,315	1,819	1,596	2,961	2,107	2,482
Net Income to Company	1,315	1,819	1,596	2,961	2,107	2,482
Minority Interest in Earnings	-13.21	-24.01	1.2	-8.88	-25.51	-25.48
Net Income	1,302	1,795	1,598	2,952	2,082	2,457
Net Income to Common	1,302	1,795	1,598	2,952	2,082	2,457
Net Income Growth	-33.57%	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	-0.30%	-0.29%	-0.36%	-0.01%	0.01%	-0.01%
EPS (Basic)	0.51	0.71	0.63	1.16	0.82	0.97
EPS (Diluted)	0.51	0.71	0.63	1.16	0.82	0.97
EPS Growth	-33.37%	12.70%	-45.69%	41.81%	-15.27%	54.00%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	1,764	1,339	1,594	2,136	1,899	2,297
Free Cash Flow Per Share	0.70	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	-16.67%	0%	0%	0%	0%	25.00%
Gross Margin	34.91%	37.95%	37.97%	35.99%	36.30%	34.72%
Operating Margin	6.27%	10.12%	12.05%	11.56%	11.37%	9.18%
Profit Margin	11.48%	14.54%	11.74%	21.63%	15.31%	19.63%
Free Cash Flow Margin	15.56%	10.84%	11.71%	15.65%	13.97%	18.35%
EBITDA	1,053	1,637	2,096	2,037	1,964	1,521
EBITDA Margin	9.29%	13.26%	15.41%	14.93%	14.45%	12.15%
D&A For EBITDA	341.88	387.48	456.56	459.69	417.9	371.66
EBIT	710.69	1,249	1,640	1,577	1,546	1,149
EBIT Margin	6.27%	10.12%	12.05%	11.56%	11.37%	9.18%
Effective Tax Rate	0.84%	0.72%	29.56%	-	0.97%	1.02%
Revenue as Reported	11,334	12,347	13,606	13,645	13,596	12,517
Advertising Expenses	-	163.76	254.72	205.13	197.08	205.75