Shuhua Sports 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
Period Ending	Sep '25 Sep 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
Operating Revenue	1,473	1,369	1,380	1,324	1,562	1,457
Other Revenue	47.61	47.61	42.37	27.52	-	27.55
Revenue	1,521	1,417	1,422	1,352	1,562	1,484
Revenue Growth (YoY)	7.96%	-0.36%	5.23%	-13.47%	5.25%	11.27%
Cost of Revenue	1,076	988.79	1,006	956.29	1,127	1,037
Gross Profit	444.98	428.31	416.6	395.32	435.06	446.75
Selling, General & Admin	271.6	262.97	232.15	209.01	229.9	205.83
Research & Development	54.5	43.67	27.87	30.93	34.64	32.9
Other Operating Expenses	34.18	21.99	20.01	18.22	25.13	12.11
Operating Expenses	383.25	344.52	284.04	270.13	293.66	253.98
Operating Income	61.73	83.79	132.56	125.19	141.4	192.77
Interest Expense	-5.19	-5.39	-3.35	-5.38	-4.31	-12.35
Interest & Investment Income	9.19	4.1	6.16	7.48	7.13	2.79
Currency Exchange Gain (Loss)	3.45	3.45	0.63	0.99	0.13	-1.76
Other Non Operating Income (Expenses)	0.82	-0.14	20	-12.87	-8.6	-3.04
EBT Excluding Unusual Items	70	85.81	156	115.41	135.75	178.41
Gain (Loss) on Sale of Investments	0.27	7.9	7.01	0.57	0.94	-
Gain (Loss) on Sale of Assets	3.81	1.67	-0.04	-0.94	0.09	-0.31
Asset Writedown	1.99	-0.1	-	-	-0.43	-0.15
Other Unusual Items	14.41	16.77	3.17	20.81	12.14	-
Pretax Income	90.49	112.04	166.15	135.86	148.5	177.95
Income Tax Expense	15.42	21.71	37.18	26.3	32.71	41
Net Income	75.07	90.33	128.97	109.56	115.79	136.95
Net Income to Common	75.07	90.33	128.97	109.56	115.79	136.95
Net Income Growth	-38.93%	-29.96%	17.72%	-5.39%	-15.45%	-6.81%
Shares Outstanding (Basic)	389	411	416	406	414	360
Shares Outstanding (Diluted)	389	411	416	406	414	360
Shares Change (YoY)	-9.25%	-1.31%	2.53%	-1.88%	14.75%	0.54%
EPS (Basic)	0.19	0.22	0.31	0.27	0.28	0.38
EPS (Diluted)	0.19	0.22	0.31	0.27	0.28	0.38
EPS Growth	-32.70%	-29.03%	14.82%	-3.57%	-26.32%	-7.32%
Free Cash Flow	78.12	79.47	215.76	190.22	42.35	60.8
Free Cash Flow Per Share	0.20	0.19	0.52	0.47	0.10	0.17
Dividend Per Share	0.200	0.200	0.300	0.250	0.230	0.300
Dividend Growth	-33.33%	-33.33%	20.00%	8.70%	-23.33%	200.00%
Gross Margin	29.26%	30.22%	29.29%	29.25%	27.85%	30.10%
Operating Margin	4.06%	5.91%	9.32%	9.26%	9.05%	12.99%
Profit Margin	4.94%	6.38%	9.07%	8.11%	7.41%	9.23%
Free Cash Flow Margin	5.14%	5.61%	15.17%	14.07%	2.71%	4.10%
EBITDA	116.16	140.04	191.26	183.34	197.46	244.84
EBITDA Margin	7.64%	9.88%	13.45%	13.56%	12.64%	16.50%
D&A For EBITDA	54.43	56.26	58.7	58.14	56.06	52.07
EBIT	61.73	83.79	132.56	125.19	141.4	192.77
EBIT Margin	4.06%	5.91%	9.32%	9.26%	9.05%	12.99%
Effective Tax Rate	17.04%	19.37%	22.38%	19.36%	22.02%	23.04%
Revenue as Reported	1,521	1,417	1,422	1,352	1,562	1,484
Advertising Expenses	-	28.18	32.56	37.71	35.65	35.84

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.