SHA:601949 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	5,066	5,193	5,930	6,122	5,973	6,145
Other Revenue	141.54	141.54	188.74	176.15	168.66	175.98
Revenue	5,207	5,334	6,119	6,298	6,141	6,321
Revenue Growth (YoY)	-13.19%	-12.83%	-2.84%	2.55%	-2.84%	6.08%
Cost of Revenue	3,469	3,538	4,162	4,376	4,313	4,459
Gross Profit	1,738	1,796	1,957	1,922	1,828	1,863
Selling, General & Admin	1,370	1,353	1,388	1,362	1,311	1,289
Research & Development	34.94	38.45	43.95	54.46	44.02	53.42
Other Operating Expenses	-145.86	-148.21	-174.41	-186.16	-162.86	-232.7
Operating Expenses	1,321	1,307	1,252	1,253	1,227	1,124
Operating Income	417.19	488.98	704.98	668.53	600.81	738.48
Interest Expense	-9.97	-9.74	-5.41	-7.13	-11	-14.05
Interest & Investment Income	62.6	67.83	109.79	203.39	126.46	152.86
Currency Exchange Gain (Loss)	0.12	0.12	-0.12	-0.22	-0.22	-0.02
Other Non Operating Income (Expenses)	2.41	1.76	-34.86	-10.54	0.58	-13.32
EBT Excluding Unusual Items	472.34	548.96	774.39	854.03	716.63	863.95
Impairment of Goodwill	-	-	-9.09	-5.69	-8	-36.63
Gain (Loss) on Sale of Investments	127.64	127.39	119.75	90.24	62.07	39.81
Gain (Loss) on Sale of Assets	-0.36	-0.53	0.37	-0.09	-2.02	0.2
Asset Writedown	-10.18	-4.65	-28.28	-40.36	-44.39	-14.7
Other Unusual Items	12.05	12.05	7.33	7.04	7.36	10.48
Pretax Income	601.49	683.21	864.49	905.18	731.65	863.12
Income Tax Expense	32.31	33.77	191.12	-98.17	52.54	41.48
Earnings From Continuing Operations	569.19	649.44	673.36	1,003	679.11	821.64
Minority Interest in Earnings	6.26	-2.24	-29.4	-36.28	-28.63	-40.75
Net Income	575.44	647.2	643.97	967.07	650.48	780.9
Net Income to Common	575.44	647.2	643.97	967.07	650.48	780.9
Net Income Growth	-7.25%	0.50%	-33.41%	48.67%	-16.70%	5.39%
Shares Outstanding (Basic)	1,903	1,904	1,904	1,857	1,807	1,822
Shares Outstanding (Diluted)	1,903	1,904	1,904	1,857	1,807	1,822
Shares Change (YoY)	-0.49%	-0.00%	2.56%	2.75%	-0.85%	0.00%
EPS (Basic)	0.30	0.34	0.34	0.52	0.36	0.43
EPS (Diluted)	0.30	0.34	0.34	0.52	0.36	0.43
EPS Growth	-6.79%	0.50%	-35.07%	44.69%	-15.99%	5.39%
Free Cash Flow	568.91	622.66	48.52	810.25	0.92	926.79
Free Cash Flow Per Share	0.30	0.33	0.03	0.44	0.00	0.51
Dividend Per Share	0.102	0.102	0.102	0.153	0.108	0.129
Dividend Growth	-	-	-33.33%	41.67%	-16.28%	5.74%
Gross Margin	33.38%	33.67%	31.99%	30.51%	29.77%	29.47%
Operating Margin	8.01%	9.17%	11.52%	10.62%	9.78%	11.68%
Profit Margin	11.05%	12.13%	10.52%	15.35%	10.59%	12.35%
Free Cash Flow Margin	10.93%	11.67%	0.79%	12.86%	0.01%	14.66%
EBITDA	541.01	619.76	863.58	831.75	743.38	889.24
EBITDA Margin	10.39%	11.62%	14.11%	13.21%	12.11%	14.07%
D&A For EBITDA	123.82	130.78	158.6	163.21	142.58	150.76
EBIT	417.19	488.98	704.98	668.53	600.81	738.48
EBIT Margin	8.01%	9.17%	11.52%	10.62%	9.78%	11.68%
Effective Tax Rate	5.37%	4.94%	22.11%	-	7.18%	4.81%
Revenue as Reported	5,207	5,334	6,119	6,298	6,141	6,321
Advertising Expenses	-	123.12	125.58	156.26	139.99	109.86

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