SHA:603535 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
Revenue	1,076	1,128	1,270	1,225	1,278	1,269
Revenue Growth (YoY)	-13.80%	-11.17%	3.64%	-4.10%	0.70%	10.22%
Cost of Revenue	801.14	828.63	855.13	858.86	942.37	932.96
Gross Profit	275.2	299.54	414.9	366.57	335.51	336.09
Selling, General & Admin	93.71	95.63	105.34	99.95	106.03	106.25
Research & Development	20.59	20.04	18.24	19.75	22.13	20.9
Other Operating Expenses	15.69	14.74	10.48	5.21	1.92	3.16
Operating Expenses	200.59	198.69	159.87	159.99	144.4	136.02
Operating Income	74.61	100.86	255.03	206.58	191.11	200.08
Interest Expense	-55.96	-57.59	-59.45	-26.03	-8.29	-5.66
Interest & Investment Income	4.86	4.85	6.5	15.3	8.52	8.71
Currency Exchange Gain (Loss)	3.25	3.25	1.46	1.08	7.08	-3.97
Other Non Operating Income (Expenses)	-22.15	-15.41	-2.42	-9.93	-2.76	-4.36
EBT Excluding Unusual Items	4.63	35.97	201.11	187	195.66	194.79
Gain (Loss) on Sale of Investments	0.19	0.08	1.55	0.03	0.28	1.57
Gain (Loss) on Sale of Assets	0.01	0.02	0.26	0.94	0.05	0
Other Unusual Items	1.51	2.4	-2.96	2.44	2.33	17.89
Pretax Income	7.67	38.48	199.96	190.41	198.42	214.25
Income Tax Expense	-4.04	-0.97	16.59	26.07	27.12	31.59
Earnings From Continuing Operations	11.71	39.45	183.37	164.34	171.31	182.66
Minority Interest in Earnings	-0.7	-1.07	-0.39	0.01	-0.18	-0.26
Net Income	11.01	38.37	182.98	164.35	171.13	182.4
Net Income to Common	11.01	38.37	182.98	164.35	171.13	182.4
Net Income Growth	-93.26%	-79.03%	11.33%	-3.96%	-6.18%	12.86%
Shares Outstanding (Basic)	507	480	345	507	513	493
Shares Outstanding (Diluted)	507	480	345	507	528	493
Shares Change (YoY)	65.62%	38.93%	-31.88%	-4.02%	7.05%	2.82%
EPS (Basic)	0.02	0.08	0.53	0.32	0.33	0.37
EPS (Diluted)	0.02	0.08	0.53	0.32	0.32	0.37
EPS Growth	-95.93%	-84.91%	63.43%	0.06%	-12.36%	9.77%
Free Cash Flow	103.01	122.24	-130.72	-1,030	-134.09	-230.6
Free Cash Flow Per Share	0.20	0.26	-0.38	-2.03	-0.25	-0.47
Dividend Per Share	0.020	0.020	0.090	0.046	0.039	0.036
Dividend Growth	-77.78%	-77.78%	96.94%	17.78%	7.18%	4.62%
Gross Margin	25.57%	26.55%	32.67%	29.91%	26.25%	26.48%
Operating Margin	6.93%	8.94%	20.08%	16.86%	14.95%	15.77%
Profit Margin	1.02%	3.40%	14.41%	13.41%	13.39%	14.37%
Free Cash Flow Margin	9.57%	10.84%	-10.29%	-84.06%	-10.49%	-18.17%
EBITDA	133.49	157.91	304.77	247.06	222.04	217.62
EBITDA Margin	12.40%	14.00%	24.00%	20.16%	17.38%	17.15%
D&A For EBITDA	58.88	57.05	49.74	40.48	30.93	17.55
EBIT	74.61	100.86	255.03	206.58	191.11	200.08
EBIT Margin	6.93%	8.94%	20.08%	16.86%	14.95%	15.77%
Effective Tax Rate	-	-	8.30%	13.69%	13.66%	14.74%
Revenue as Reported	1,076	1,128	1,270	1,225	1,278	1,269
Advertising Expenses	-	18.71	20.39	18.72	15.09	11.64

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