Shuhua Sports 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	1,574	1,496	1,369	1,380	1,324	1,562
Other Revenue	70.42	70.42	47.61	42.37	27.52	-
Revenue	1,644	1,566	1,417	1,422	1,352	1,562
Revenue Growth (YoY)	16.04%	10.53%	-0.36%	5.23%	-13.47%	5.25%
Cost of Revenue	1,146	1,090	988.79	1,006	956.29	1,127
Gross Profit	498.71	476.12	428.31	416.6	395.32	435.06
Selling, General & Admin	278.24	276.83	262.97	232.15	209.01	229.9
Research & Development	54.7	53.59	43.67	27.87	30.93	34.64
Other Operating Expenses	24.88	23.87	21.99	20.01	18.22	25.13
Operating Expenses	372.96	369.42	344.52	284.04	270.13	293.66
Operating Income	125.75	106.7	83.79	132.56	125.19	141.4
Interest Expense	-5.65	-5.65	-5.39	-3.35	-5.38	-4.31
Interest & Investment Income	8.68	8.79	4.1	6.16	7.48	7.13
Currency Exchange Gain (Loss)	0.7	0.7	3.45	0.63	0.99	0.13
Other Non Operating Income (Expenses)	1.3	-2.38	-0.14	20	-12.87	-8.6
EBT Excluding Unusual Items	130.78	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	-1.1	-0.1	1.67	-0.04	-0.94	0.09
Asset Writedown	-0.78	-0.15	-0.1	-	-	-0.43
Other Unusual Items	3.37	3.37	16.77	3.17	20.81	12.14
Pretax Income	132.27	111.28	112.04	166.15	135.86	148.5
Income Tax Expense	26.51	22.07	21.71	37.18	26.3	32.71
Net Income	105.76	89.21	90.33	128.97	109.56	115.79
Net Income to Common	105.76	89.21	90.33	128.97	109.56	115.79
Net Income Growth	24.72%	-1.24%	-29.96%	17.72%	-5.39%	-15.45%
Shares Outstanding (Basic)	405	406	411	416	406	414
Shares Outstanding (Diluted)	405	406	411	416	406	414
Shares Change (YoY)	-1.36%	-1.24%	-1.31%	2.53%	-1.88%	14.75%
EPS (Basic)	0.26	0.22	0.22	0.31	0.27	0.28
EPS (Diluted)	0.26	0.22	0.22	0.31	0.27	0.28
EPS Growth	26.43%	-	-29.03%	14.82%	-3.57%	-26.32%
Free Cash Flow	104.34	14.74	79.47	215.76	190.22	42.35
Free Cash Flow Per Share	0.26	0.04	0.19	0.52	0.47	0.10
Dividend Per Share	0.200	0.200	0.200	0.300	0.250	0.230
Dividend Growth	-	-	-33.33%	20.00%	8.70%	-23.33%
Gross Margin	30.33%	30.40%	30.22%	29.29%	29.25%	27.85%
Operating Margin	7.65%	6.81%	5.91%	9.32%	9.26%	9.05%
Profit Margin	6.43%	5.70%	6.38%	9.07%	8.11%	7.41%
Free Cash Flow Margin	6.35%	0.94%	5.61%	15.17%	14.07%	2.71%
EBITDA	177.53	159.86	142.47	191.26	183.34	197.46
EBITDA Margin	10.80%	10.21%	10.05%	13.45%	13.56%	12.64%
D&A For EBITDA	51.78	53.16	58.68	58.7	58.14	56.06
EBIT	125.75	106.7	83.79	132.56	125.19	141.4
EBIT Margin	7.65%	6.81%	5.91%	9.32%	9.26%	9.05%
Effective Tax Rate	20.04%	19.84%	19.37%	22.38%	19.36%	22.02%
Revenue as Reported	1,566	1,566	1,417	1,422	1,352	1,562
Advertising Expenses	-	30.05	28.18	32.56	37.71	35.65

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