SHA:603991 Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	556.45	364.3	239.34	127.75	127.66
Other Revenue	373.98	0.26	0.08	1.77	0.47
Revenue	930.44	364.56	239.42	129.52	128.14
Revenue Growth (YoY)	155.22%	52.27%	84.85%	1.08%	-58.84%
Cost of Revenue	862.79	312.07	199.65	119.18	119.78
Gross Profit	67.64	52.5	39.77	10.34	8.36
Selling, General & Admin	-	34.39	27.32	25.73	20.95
Research & Development	-	14.89	13.35	5.06	6.8
Other Operating Expenses	-	2.34	2.52	1.25	2.38
Operating Expenses	-	55.7	62.36	51.74	62.41
Operating Income	67.64	-3.2	-22.6	-41.4	-54.06
Interest Expense	-	-10.88	-7.39	-3.18	-4.28
Interest & Investment Income	-	0.54	0.15	21.58	0.08
Currency Exchange Gain (Loss)	-	0.06	-0.11	0.02	-0.08
Other Non Operating Income (Expenses)	-136.11	-0.94	-0.27	-0.26	-0.47
EBT Excluding Unusual Items	-68.47	-14.41	-30.22	-23.25	-58.81
Impairment of Goodwill	-	-	-19.75	-	-
Gain (Loss) on Sale of Investments	-	0.66	13.18	-	-
Gain (Loss) on Sale of Assets	-	-	-	-0.01	0.39
Asset Writedown	-	-0.55	-	-0.02	-
Other Unusual Items	-	3.36	1.95	1.99	2.79
Pretax Income	-68.47	-10.94	-34.83	-21.28	-55.62
Income Tax Expense	-22.63	6.91	3.62	-4.46	-2.19
Earnings From Continuing Operations	-45.84	-17.85	-38.46	-16.82	-53.43
Minority Interest in Earnings	-	-12.68	-5.97	-	-
Net Income	-45.84	-30.53	-44.42	-16.82	-53.43
Net Income to Common	-45.84	-30.53	-44.42	-16.82	-53.43
Shares Outstanding (Basic)	80	75	75	75	75
Shares Outstanding (Diluted)	80	75	75	75	75
Shares Change (YoY)	7.91%	-0.01%	-0.03%	0.03%	0.77%
EPS (Basic)	-0.57	-0.41	-0.60	-0.23	-0.72
EPS (Diluted)	-0.57	-0.41	-0.60	-0.23	-0.72
Free Cash Flow	-	-26.83	-42.11	-39.63	109.91
Free Cash Flow Per Share	-	-0.36	-0.56	-0.53	1.47
Gross Margin	7.27%	14.40%	16.61%	7.98%	6.52%
Operating Margin	7.27%	-0.88%	-9.44%	-31.96%	-42.19%
Profit Margin	-4.93%	-8.38%	-18.55%	-12.99%	-41.70%
Free Cash Flow Margin	-	-7.36%	-17.59%	-30.60%	85.77%
EBITDA	81.27	10.43	-8	-28.86	-41.08
EBITDA Margin	8.73%	2.86%	-3.34%	-22.28%	-32.06%
D&A For EBITDA	13.63	13.63	14.59	12.54	12.97
EBIT	67.64	-3.2	-22.6	-41.4	-54.06
EBIT Margin	7.27%	-0.88%	-9.44%	-31.96%	-42.19%
Revenue as Reported	-	364.56	239.42	129.52	128.14
Advertising Expenses	-	0.48	0.09	0.04	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.