SHE:000049 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	Jan '22 Jan 1, 2022
Operating Revenue	22,608	21,969	20,597	20,044	21,659	19,398
Other Revenue	430.25	430.25	262.66	240.89	89.65	72.41
Revenue	23,039	22,399	20,859	20,285	21,749	19,471
Revenue Growth (YoY)	9.02%	7.38%	2.83%	-6.73%	11.70%	0.38%
Cost of Revenue	21,177	20,597	19,036	18,570	19,690	17,686
Gross Profit	1,861	1,803	1,823	1,715	2,060	1,785
Selling, General & Admin	527.8	539.86	515.62	459.53	510.02	398.07
Research & Development	1,070	1,031	899.18	642.03	550.75	407.05
Other Operating Expenses	60.89	59.66	59.78	53.14	58.73	40.91
Operating Expenses	1,666	1,640	1,512	1,155	1,121	849.83
Operating Income	195.88	162.42	311.23	559.73	938.09	935.05
Interest Expense	-117.37	-117.68	-174.89	-515.18	-223.65	-127.52
Interest & Investment Income	31.1	36.14	133.18	448.17	168.5	108.36
Currency Exchange Gain (Loss)	-6.34	-6.34	32.65	15.15	61.89	2.13
Other Non Operating Income (Expenses)	-27.98	-1.47	-1.59	-1.85	-1	-1.07
EBT Excluding Unusual Items	75.29	73.07	300.57	506.01	943.83	916.94
Gain (Loss) on Sale of Investments	27.39	25.81	7.9	-6.29	9.58	11.79
Gain (Loss) on Sale of Assets	-5.46	-3.68	-1.39	-1.59	-1.17	-5.03
Asset Writedown	39.75	-2.04	-1.11	-1.74	-7.16	-5.4
Other Unusual Items	88.35	65.43	55.09	42.17	44.35	31.97
Pretax Income	225.32	158.59	361.06	538.56	989.43	950.27
Income Tax Expense	-43.42	-52.77	63.94	27.53	137.08	156.32
Earnings From Continuing Operations	268.74	211.36	297.12	511.04	852.35	793.94
Minority Interest in Earnings	54.78	80.91	115.89	50.83	13.86	-0.18
Net Income	323.52	292.27	413.01	561.87	866.21	793.77
Net Income to Common	323.52	292.27	413.01	561.87	866.21	793.77
Net Income Growth	-22.57%	-29.23%	-26.49%	-35.13%	9.13%	18.53%
Shares Outstanding (Basic)	385	385	385	328	324	300
Shares Outstanding (Diluted)	385	385	385	328	324	300
Shares Change (YoY)	-0.01%	-0.00%	17.11%	1.35%	8.00%	-0.12%
EPS (Basic)	0.84	0.76	1.07	1.71	2.67	2.65
EPS (Diluted)	0.84	0.76	1.07	1.71	2.67	2.65
EPS Growth	-22.56%	-29.23%	-37.23%	-36.00%	1.04%	18.67%
Free Cash Flow	204.61	227.45	-813.13	1,076	-1,079	-249.55
Free Cash Flow Per Share	0.53	0.59	-2.11	3.28	-3.33	-0.83
Dividend Per Share	0.230	0.230	0.330	0.450	0.650	0.750
Dividend Growth	-30.30%	-30.30%	-26.67%	-30.77%	-13.33%	8.74%
Gross Margin	8.08%	8.05%	8.74%	8.45%	9.47%	9.17%
Operating Margin	0.85%	0.73%	1.49%	2.76%	4.31%	4.80%
Profit Margin	1.40%	1.31%	1.98%	2.77%	3.98%	4.08%
Free Cash Flow Margin	0.89%	1.01%	-3.90%	5.30%	-4.96%	-1.28%
EBITDA	788.28	759.45	926.81	1,038	1,220	1,187
EBITDA Margin	3.42%	3.39%	4.44%	5.12%	5.61%	6.09%
D&A For EBITDA	592.4	597.03	615.58	478.47	282.05	251.55
EBIT	195.88	162.42	311.23	559.73	938.09	935.05
EBIT Margin	0.85%	0.73%	1.49%	2.76%	4.31%	4.80%
Effective Tax Rate	-	-	17.71%	5.11%	13.86%	16.45%
Revenue as Reported	23,039	22,399	20,859	20,285	-	-
Advertising Expenses	-	41.69	29.26	22.44	15.92	12.32

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