SHA:603227 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	5,414	5,498	6,061	6,979	6,851	5,517
Other Revenue	65.74	65.74	40.28	41.6	51.56	51.1
Revenue	5,479	5,564	6,101	7,021	6,903	5,568
Revenue Growth (YoY)	-9.47%	-8.81%	-13.10%	1.71%	23.96%	169.38%
Cost of Revenue	4,255	4,326	4,701	5,391	4,897	3,822
Gross Profit	1,224	1,237	1,401	1,630	2,006	1,747
Selling, General & Admin	420.05	416.19	426.64	390.92	378.45	338.77
Research & Development	84.45	83.17	17.78	29.42	46.46	26.69
Other Operating Expenses	44.99	40.65	35.1	52.69	41.71	45.96
Operating Expenses	599.58	581.49	487.73	487.01	479.41	425.29
Operating Income	624.61	655.9	912.82	1,143	1,526	1,321
Interest Expense	-14	-13.86	-24.36	-43.95	-55.7	-53.61
Interest & Investment Income	30.06	27.08	35.66	34.28	32.02	21.27
Currency Exchange Gain (Loss)	0.66	0.66	0.74	3.27	-3.57	0.19
Other Non Operating Income (Expenses)	-3.94	-3.72	-9.88	-4.78	-15.74	-20.83
EBT Excluding Unusual Items	637.4	666.06	914.97	1,132	1,483	1,268
Impairment of Goodwill	-	-	-	-	-	-5.45
Gain (Loss) on Sale of Investments	0.14	-	-	-	0.08	0.09
Gain (Loss) on Sale of Assets	0.1	0.04	2.33	-1.21	-14.59	-1.24
Asset Writedown	-3.35	-2.18	-8.71	-8.91	-19.24	-49.7
Legal Settlements	-	-	-	-	-	-0.91
Other Unusual Items	21.46	22.42	23.21	43.91	36.27	30.13
Pretax Income	655.75	686.34	931.8	1,166	1,486	1,241
Income Tax Expense	102.84	106.69	176.17	214.58	227.99	199.65
Earnings From Continuing Operations	552.91	579.65	755.63	951.26	1,258	1,042
Minority Interest in Earnings	-67.35	-75.98	-87.2	-97.73	-592.11	-598.65
Net Income	485.56	503.67	668.43	853.53	665.83	443.11
Net Income to Common	485.56	503.67	668.43	853.53	665.83	443.11
Net Income Growth	-20.00%	-24.65%	-21.69%	28.19%	50.26%	312.22%
Shares Outstanding (Basic)	1,071	1,072	1,071	1,046	822	816
Shares Outstanding (Diluted)	1,071	1,072	1,071	1,046	822	816
Shares Change (YoY)	0.19%	0.04%	2.41%	27.25%	0.73%	23.74%
EPS (Basic)	0.45	0.47	0.62	0.82	0.81	0.54
EPS (Diluted)	0.45	0.47	0.62	0.82	0.81	0.54
EPS Growth	-20.16%	-24.68%	-23.53%	0.74%	49.17%	233.13%
Free Cash Flow	-65.24	249.98	583.19	903.28	953.76	856.37
Free Cash Flow Per Share	-0.06	0.23	0.54	0.86	1.16	1.05
Dividend Per Share	0.150	0.150	0.200	0.250	0.150	0.070
Dividend Growth	-25.00%	-25.00%	-20.00%	66.67%	114.29%	40.00%
Gross Margin	22.34%	22.24%	22.96%	23.22%	29.06%	31.37%
Operating Margin	11.40%	11.79%	14.96%	16.28%	22.11%	23.73%
Profit Margin	8.86%	9.05%	10.96%	12.16%	9.65%	7.96%
Free Cash Flow Margin	-1.19%	4.49%	9.56%	12.87%	13.82%	15.38%
EBITDA	1,011	1,041	1,290	1,489	1,887	1,673
EBITDA Margin	18.46%	18.71%	21.15%	21.21%	27.34%	30.05%
D&A For EBITDA	386.82	384.93	377.38	346.04	360.76	351.65
EBIT	624.61	655.9	912.82	1,143	1,526	1,321
EBIT Margin	11.40%	11.79%	14.96%	16.28%	22.11%	23.73%
Effective Tax Rate	15.68%	15.54%	18.91%	18.40%	15.34%	16.08%
Revenue as Reported	5,479	5,564	6,101	-	6,903	5,568
Advertising Expenses	-	2.05	1.67	0.96	0.79	2.65

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.