Shanghai @hub Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Operating Revenue	1,753	1,721	1,542	1,455	1,245	909.74	Upgrade
Revenue	1,753	1,721	1,542	1,455	1,245	909.74	Upgrade
Revenue Growth (YoY)	11.32%	11.57%	5.96%	16.88%	36.88%	25.20%	Upgrade
Cost of Revenue	1,197	1,187	1,095	1,036	823.4	546.85	Upgrade
Gross Profit	556.13	533.34	446.88	419.73	421.83	362.89	Upgrade
Selling, General & Admin	78.93	79.03	71.34	69.86	68.59	71.16	Upgrade
Research & Development	92.73	87.57	73.71	67.86	53.15	40.02	Upgrade
Other Operating Expenses	6.86	1.49	-14.54	-15.46	1.07	1.26	Upgrade
Operating Expenses	177.49	167.01	131.94	122.32	122.81	112.43	Upgrade
Operating Income	378.64	366.32	314.94	297.41	299.02	250.46	Upgrade
Interest Expense	-98.94	-106.12	-137.62	-161.46	-159.24	-99.7	Upgrade
Interest & Investment Income	23.46	15.62	9.91	10.28	6.73	1.97	Upgrade
Other Non Operating Income (Expenses)	-0.25	-0.1	-0.18	-0.34	-0.09	-0.13	Upgrade
EBT Excluding Unusual Items	302.92	275.72	187.05	145.88	146.41	152.6	Upgrade
Impairment of Goodwill	-3.97	-3.97	-9.3	-2.93	-	-	Upgrade
Gain (Loss) on Sale of Assets	-3.45	-10.53	1.59	-6.78	0.53	0.03	Upgrade
Asset Writedown	-87.44	-77.36	-25.68	-1.05	-0.48	-0.01	Upgrade
Other Unusual Items	9.81	8.35	12.65	10.03	9.79	10.93	Upgrade
Pretax Income	217.86	192.21	166.31	145.15	156.25	163.55	Upgrade
Income Tax Expense	71.77	60.47	43.34	35.47	46.33	29.36	Upgrade
Earnings From Continuing Operations	146.09	131.75	122.96	109.68	109.92	134.2	Upgrade
Minority Interest in Earnings	0.48	0.44	0.01	7.83	11.61	2.16	Upgrade
Net Income	146.57	132.19	122.97	117.51	121.53	136.36	Upgrade
Net Income to Common	146.57	132.19	122.97	117.51	121.53	136.36	Upgrade
Net Income Growth	17.35%	7.49%	4.65%	-3.30%	-10.88%	23.58%	Upgrade
Shares Outstanding (Basic)	719	718	703	705	717	726	Upgrade
Shares Outstanding (Diluted)	719	718	703	705	717	726	Upgrade
Shares Change (YoY)	5.61%	2.23%	-0.32%	-1.74%	-1.25%	12.00%	Upgrade
EPS (Basic)	0.20	0.18	0.17	0.17	0.17	0.19	Upgrade
EPS (Diluted)	0.20	0.18	0.17	0.17	0.17	0.19	Upgrade
EPS Growth	10.73%	4.74%	4.98%	-1.59%	-9.75%	10.35%	Upgrade
Free Cash Flow	1,073	1,003	808.39	141.75	-559.59	-1,519	Upgrade
Free Cash Flow Per Share	1.49	1.40	1.15	0.20	-0.78	-2.09	Upgrade
Dividend Per Share	0.060	0.056	0.052	0.020	0.016	0.020	Upgrade
Dividend Growth	-16.83%	7.51%	158.21%	28.85%	-20.41%	13.30%	Upgrade
Gross Margin	31.73%	31.00%	28.98%	28.84%	33.88%	39.89%	Upgrade
Operating Margin	21.60%	21.29%	20.42%	20.43%	24.01%	27.53%	Upgrade
Profit Margin	8.36%	7.68%	7.97%	8.07%	9.76%	14.99%	Upgrade
Free Cash Flow Margin	61.25%	58.32%	52.42%	9.74%	-44.94%	-166.95%	Upgrade
EBITDA	1,013	1,033	1,001	946.23	754.51	524.52	Upgrade
EBITDA Margin	57.78%	60.04%	64.92%	65.02%	60.59%	57.66%	Upgrade
D&A For EBITDA	634.11	666.71	686.22	648.81	455.49	274.06	Upgrade
EBIT	378.64	366.32	314.94	297.41	299.02	250.46	Upgrade
EBIT Margin	21.60%	21.29%	20.42%	20.43%	24.01%	27.53%	Upgrade
Effective Tax Rate	32.94%	31.46%	26.06%	24.43%	29.65%	17.95%	Upgrade
Revenue as Reported	1,753	1,721	1,542	1,455	1,245	909.74	Upgrade

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