Shuhua Sports 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	1,496	1,369	1,380	1,324	1,562
Other Revenue	70.42	47.61	42.37	27.52	-
Revenue	1,566	1,417	1,422	1,352	1,562
Revenue Growth (YoY)	10.53%	-0.36%	5.23%	-13.47%	5.25%
Cost of Revenue	1,090	988.79	1,006	956.29	1,127
Gross Profit	476.12	428.31	416.6	395.32	435.06
Selling, General & Admin	276.83	262.97	232.15	209.01	229.9
Research & Development	53.59	43.67	27.87	30.93	34.64
Other Operating Expenses	23.87	21.99	20.01	18.22	25.13
Operating Expenses	369.42	344.52	284.04	270.13	293.66
Operating Income	106.7	83.79	132.56	125.19	141.4
Interest Expense	-5.65	-5.39	-3.35	-5.38	-4.31
Interest & Investment Income	8.79	4.1	6.16	7.48	7.13
Currency Exchange Gain (Loss)	0.7	3.45	0.63	0.99	0.13
Other Non Operating Income (Expenses)	-2.38	-0.14	20	-12.87	-8.6
EBT Excluding Unusual Items	108.16	85.81	156	115.41	135.75
Gain (Loss) on Sale of Investments	-	7.9	7.01	0.57	0.94
Gain (Loss) on Sale of Assets	-0.1	1.67	-0.04	-0.94	0.09
Asset Writedown	-0.15	-0.1	-	-	-0.43
Other Unusual Items	3.37	16.77	3.17	20.81	12.14
Pretax Income	111.28	112.04	166.15	135.86	148.5
Income Tax Expense	22.07	21.71	37.18	26.3	32.71
Net Income	89.21	90.33	128.97	109.56	115.79
Net Income to Common	89.21	90.33	128.97	109.56	115.79
Net Income Growth	-1.24%	-29.96%	17.72%	-5.39%	-15.45%
Shares Outstanding (Basic)	406	411	416	406	414
Shares Outstanding (Diluted)	406	411	416	406	414
Shares Change (YoY)	-1.24%	-1.31%	2.53%	-1.88%	14.75%
EPS (Basic)	0.22	0.22	0.31	0.27	0.28
EPS (Diluted)	0.22	0.22	0.31	0.27	0.28
EPS Growth	-	-29.03%	14.82%	-3.57%	-26.32%
Free Cash Flow	14.74	79.47	215.76	190.22	42.35
Free Cash Flow Per Share	0.04	0.19	0.52	0.47	0.10
Dividend Per Share	0.200	0.200	0.300	0.250	0.230
Dividend Growth	-	-33.33%	20.00%	8.70%	-23.33%
Gross Margin	30.40%	30.22%	29.29%	29.25%	27.85%
Operating Margin	6.81%	5.91%	9.32%	9.26%	9.05%
Profit Margin	5.70%	6.38%	9.07%	8.11%	7.41%
Free Cash Flow Margin	0.94%	5.61%	15.17%	14.07%	2.71%
EBITDA	159.86	142.47	191.26	183.34	197.46
EBITDA Margin	10.21%	10.05%	13.45%	13.56%	12.64%
D&A For EBITDA	53.16	58.68	58.7	58.14	56.06
EBIT	106.7	83.79	132.56	125.19	141.4
EBIT Margin	6.81%	5.91%	9.32%	9.26%	9.05%
Effective Tax Rate	19.84%	19.37%	22.38%	19.36%	22.02%
Revenue as Reported	1,566	1,417	1,422	1,352	1,562
Advertising Expenses	30.05	28.18	32.56	37.71	35.65

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