SHA:601985 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	80,304	81,652	76,956	74,499	71,002	62,430
Other Revenue	423.62	423.62	315.96	458.53	283.68	264.95
Revenue	80,728	82,075	77,272	74,957	71,286	62,695
Revenue Growth (YoY)	1.47%	6.22%	3.09%	5.15%	13.70%	19.93%
Operations & Maintenance	75.29	75.29	67.65	98.11	68.83	62.22
Selling, General & Admin	4,142	4,143	4,022	3,845	4,627	3,220
Provision for Bad Debts	18.44	0.52	85.95	77.85	-59.52	12.38
Other Operating Expenses	47,460	46,446	42,786	39,993	37,694	34,753
Total Operating Expenses	53,133	52,104	48,336	45,398	43,728	39,385
Operating Income	27,595	29,971	28,936	29,560	27,557	23,310
Interest Expense	-6,583	-6,540	-6,710	-6,934	-7,641	-7,656
Interest Income	435.49	453.56	566.27	564.85	483.07	436.72
Net Interest Expense	-6,147	-6,086	-6,144	-6,369	-7,158	-7,219
Currency Exchange Gain (Loss)	-72.66	-72.66	54.64	-218.69	-398.82	832.43
Other Non-Operating Income (Expenses)	-287.13	-379.65	-312.23	-347.95	-287.15	-233.12
EBT Excluding Unusual Items	21,088	23,433	22,535	22,624	19,713	16,690
Impairment of Goodwill	-324.33	-324.33	-216.33	-55.84	-48.35	-8.29
Gain (Loss) on Sale of Investments	-11.65	-11.65	-17.48	0.16	0.05	-
Gain (Loss) on Sale of Assets	-10.58	-2.73	11.23	57.93	1.04	15.54
Asset Writedown	-87.38	-87.36	-24.06	-57.4	-75.87	-26.94
Insurance Settlements	28.38	28.38	77.42	322.01	6.34	1.83
Legal Settlements	-	-	-	-17.66	-	-
Other Unusual Items	254.14	254.14	198.15	107.97	-26.81	164.38
Pretax Income	20,937	23,289	22,564	22,981	19,570	16,837
Income Tax Expense	4,996	5,318	6,011	3,571	3,247	2,505
Earnings From Continuing Ops.	15,940	17,971	16,553	19,411	16,323	14,332
Minority Interest in Earnings	-7,708	-8,666	-7,776	-8,787	-7,313	-6,115
Net Income	8,232	9,304	8,777	10,624	9,010	8,217
Net Income to Common	8,232	9,304	8,777	10,624	9,010	8,217
Net Income Growth	-7.04%	6.00%	-17.38%	17.91%	9.66%	37.05%
Shares Outstanding (Basic)	20,541	20,539	18,958	19,177	19,253	18,259
Shares Outstanding (Diluted)	20,541	20,539	18,958	19,177	19,294	18,932
Shares Change (YoY)	5.90%	8.34%	-1.14%	-0.61%	1.91%	15.89%
EPS (Basic)	0.40	0.45	0.46	0.55	0.47	0.45
EPS (Diluted)	0.40	0.45	0.46	0.55	0.47	0.43
EPS Growth	-12.22%	-2.16%	-16.43%	18.63%	7.60%	18.26%
Free Cash Flow	-53,069	-56,275	-49,988	-23,974	-3,812	10,485
Free Cash Flow Per Share	-2.58	-2.74	-2.64	-1.25	-0.20	0.55
Dividend Per Share	0.180	0.180	0.160	0.195	0.170	0.150
Dividend Growth	12.50%	12.50%	-17.95%	14.71%	13.33%	15.38%
Profit Margin	10.20%	11.34%	11.36%	14.17%	12.64%	13.11%
Free Cash Flow Margin	-65.74%	-68.56%	-64.69%	-31.98%	-5.35%	16.72%
EBITDA	49,234	50,822	46,634	45,916	42,977	37,372
EBITDA Margin	60.99%	61.92%	60.35%	61.26%	60.29%	59.61%
D&A For EBITDA	21,639	20,850	17,698	16,356	15,419	14,062
EBIT	27,595	29,971	28,936	29,560	27,557	23,310
EBIT Margin	34.18%	36.52%	37.45%	39.43%	38.66%	37.18%
Effective Tax Rate	23.86%	22.84%	26.64%	15.54%	16.59%	14.88%
Revenue as Reported	80,728	82,075	77,272	74,957	71,286	62,695

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