SHA:603938 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	2,221	2,068	1,741	2,095	2,609	1,516
Other Revenue	29.22	29.22	29.25	34.07	39.08	82.49
Revenue	2,250	2,097	1,770	2,129	2,648	1,599
Revenue Growth (YoY)	27.12%	18.49%	-16.87%	-19.61%	65.64%	58.89%
Cost of Revenue	1,953	1,829	1,533	1,656	1,577	1,062
Gross Profit	296.89	268.44	236.75	473.31	1,071	537.26
Selling, General & Admin	91.14	96.02	110.28	112.8	87.43	62.53
Research & Development	91.94	80.98	70.16	86.84	109.69	70.13
Other Operating Expenses	12.79	9.82	2.91	14.29	26.12	17.58
Operating Expenses	198.08	188.4	183.25	218.46	226.62	152.05
Operating Income	98.82	80.04	53.5	254.84	844.49	385.21
Interest Expense	-2.1	-1.89	-10.17	-12.64	-6.01	-0.99
Interest & Investment Income	10.09	11.51	17.02	15.68	5.06	5.55
Currency Exchange Gain (Loss)	0.46	0.46	2.51	-0.87	5.96	-1.2
Other Non Operating Income (Expenses)	-2.08	-1.07	-0.49	-0.57	-0.51	-0.33
EBT Excluding Unusual Items	105.19	89.05	62.38	256.44	848.99	388.25
Gain (Loss) on Sale of Assets	-1.57	-1.67	-0.17	-5.07	0.22	-5.05
Asset Writedown	-1.41	-	-	-49.11	-	-
Other Unusual Items	6.8	7.01	11.74	6.32	9.6	5.99
Pretax Income	109.01	94.39	73.96	208.59	858.81	389.19
Income Tax Expense	17.14	14.39	12.81	30.18	115.71	54.91
Earnings From Continuing Operations	91.87	80	61.14	178.41	743.1	334.28
Minority Interest in Earnings	0.28	0.3	2.64	17.03	4.72	0.88
Net Income	92.15	80.3	63.78	195.44	747.83	335.15
Net Income to Common	92.15	80.3	63.78	195.44	747.83	335.15
Net Income Growth	44.48%	25.90%	-67.37%	-73.87%	123.13%	244.25%
Shares Outstanding (Basic)	383	382	375	383	384	381
Shares Outstanding (Diluted)	383	382	375	383	384	381
Shares Change (YoY)	2.10%	1.92%	-2.10%	-0.07%	0.53%	-0.05%
EPS (Basic)	0.24	0.21	0.17	0.51	1.95	0.88
EPS (Diluted)	0.24	0.21	0.17	0.51	1.95	0.88
EPS Growth	41.50%	23.53%	-66.67%	-73.85%	121.94%	244.41%
Free Cash Flow	72.02	38.87	71.65	256.05	227.73	-79.35
Free Cash Flow Per Share	0.19	0.10	0.19	0.67	0.59	-0.21
Dividend Per Share	0.022	0.022	0.017	0.052	0.196	0.088
Dividend Growth	29.41%	29.41%	-67.31%	-73.52%	123.69%	179.62%
Gross Margin	13.20%	12.80%	13.38%	22.23%	40.45%	33.60%
Operating Margin	4.39%	3.82%	3.02%	11.97%	31.89%	24.09%
Profit Margin	4.10%	3.83%	3.60%	9.18%	28.24%	20.96%
Free Cash Flow Margin	3.20%	1.85%	4.05%	12.03%	8.60%	-4.96%
EBITDA	261.03	236.96	189.25	365.97	920.62	437.48
EBITDA Margin	11.60%	11.30%	10.69%	17.19%	34.76%	27.36%
D&A For EBITDA	162.22	156.92	135.74	111.13	76.13	52.27
EBIT	98.82	80.04	53.5	254.84	844.49	385.21
EBIT Margin	4.39%	3.82%	3.02%	11.97%	31.89%	24.09%
Effective Tax Rate	15.72%	15.25%	17.33%	14.47%	13.47%	14.11%
Revenue as Reported	2,250	2,097	1,770	2,129	2,648	1,599

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