Shenzhen Nanshan Power 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	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Operating Revenue	401.68	437.33	588.37	692.62	755.96
Other Revenue	-	5.64	1.41	1.61	1.22
Revenue	401.68	442.97	589.78	694.23	757.18
Revenue Growth (YoY)	-9.32%	-24.89%	-15.04%	-8.31%	-23.15%
Operations & Maintenance	-	1.29	0.82	0.44	0.38
Selling, General & Admin	91.66	97.37	60.35	79.04	103.83
Provision for Bad Debts	4.79	10.38	-0.09	1.71	-
Other Operating Expenses	304.2	416.09	586.33	810.74	868.5
Total Operating Expenses	417.71	546.48	674.25	917.58	993.65
Operating Income	-16.03	-103.51	-84.47	-223.35	-236.47
Interest Expense	-4.24	-11.83	-18.67	-41.15	-30.63
Interest Income	29.93	89.67	42.36	79.51	61.71
Net Interest Expense	25.68	77.84	23.69	38.36	31.08
Currency Exchange Gain (Loss)	-	0.09	0.07	0.46	-0.11
Other Non-Operating Income (Expenses)	-1.49	-1.26	0.76	-0.3	-0.2
EBT Excluding Unusual Items	8.17	-26.84	-59.94	-184.83	-205.71
Gain (Loss) on Sale of Assets	284.41	163.53	1.89	0.29	0.97
Asset Writedown	-26.37	-64.1	-0.01	-9.75	-315.71
Legal Settlements	-	-	-	-	5
Other Unusual Items	-	1.03	56.06	8.7	7.28
Pretax Income	266.21	73.62	-2.01	-185.59	-508.16
Income Tax Expense	11.01	9.69	-	-0.06	1.24
Earnings From Continuing Ops.	255.2	63.93	-2.01	-185.52	-509.4
Minority Interest in Earnings	-94.16	-42.02	6.16	25.36	69.95
Net Income	161.04	21.91	4.16	-160.16	-439.45
Net Income to Common	161.04	21.91	4.16	-160.16	-439.45
Net Income Growth	635.04%	426.81%	-	-	-
Shares Outstanding (Basic)	603	603	603	603	603
Shares Outstanding (Diluted)	603	603	603	603	603
Shares Change (YoY)	-0.01%	-	-	-	-
EPS (Basic)	0.27	0.04	0.01	-0.27	-0.73
EPS (Diluted)	0.27	0.04	0.01	-0.27	-0.73
EPS Growth	636.11%	426.15%	-	-	-
Free Cash Flow	-216.41	-53.93	-110.91	203.85	-84.12
Free Cash Flow Per Share	-0.36	-0.09	-0.18	0.34	-0.14
Profit Margin	40.09%	4.95%	0.70%	-23.07%	-58.04%
Free Cash Flow Margin	-53.88%	-12.18%	-18.80%	29.36%	-11.11%
EBITDA	11.62	-81.8	-54.38	-191.21	-190.18
EBITDA Margin	2.89%	-18.47%	-9.22%	-27.54%	-25.12%
D&A For EBITDA	27.65	21.71	30.09	32.14	46.29
EBIT	-16.03	-103.51	-84.47	-223.35	-236.47
EBIT Margin	-3.99%	-23.37%	-14.32%	-32.17%	-31.23%
Effective Tax Rate	4.14%	13.16%	-	-	-
Revenue as Reported	401.68	442.97	589.78	694.23	757.18

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