SHE:000056 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Rental Revenue	3,360	657.79	785.73	663.06	749.95
Other Revenue	-	0.03	385.98	0.12	4.46
Total Revenue	3,360	657.82	1,172	663.17	754.41
Revenue Growth (YoY	410.81%	-43.86%	76.68%	-12.09%	10.02%
Property Expenses	2,507	283.04	879.04	213.62	226.26
Selling, General & Administrative	124.98	116.88	145.66	94.03	95.76
Other Operating Expenses	200.37	17.11	21.45	20.02	20.64
Total Operating Expenses	2,843	469.25	1,091	390.49	381.68
Operating Income	517.41	188.57	80.75	272.68	372.73
Interest Expense	-597.12	-658.13	-665.24	-579.65	-758.79
Interest & Investment Income	84.11	0.42	0.86	0.74	1.46
Currency Exchange Gain (Loss)	-	0.01	0.07	0.09	-0.03
Other Non-Operating Income	-11.39	-87.43	0.05	-415.18	-116.62
EBT Excluding Unusual Items	-6.99	-556.57	-583.51	-721.33	-501.25
Impairment of Goodwill	-	-70.11	-83.61	-	-
Gain (Loss) on Sale of Investments	-3,572	-191.11	-481.75	-793.77	-826.47
Gain (Loss) on Sale of Assets	0.87	47.98	6.71	-0.01	-0.12
Asset Writedown	-74.29	-11.8	-1.57	-12.16	-0.28
Total Legal Settlements	-	-0.72	-3.18	-7.11	-22.76
Other Unusual Items	-	95.58	3.15	104.2	-183.44
Pretax Income	-3,653	-686.75	-1,144	-1,430	-1,534
Income Tax Expense	-911.88	-33.61	4.76	-232.53	-276.36
Earnings From Continuing Operations	-2,741	-653.14	-1,149	-1,198	-1,258
Minority Interest in Earnings	11.02	12.71	21.76	-30.44	100.63
Net Income	-2,730	-640.43	-1,127	-1,228	-1,157
Net Income to Common	-2,730	-640.43	-1,127	-1,228	-1,157
Basic Shares Outstanding	1,192	1,144	1,150	1,175	1,146
Diluted Shares Outstanding	1,192	1,144	1,150	1,175	1,146
Shares Change (YoY)	4.23%	-0.53%	-2.11%	2.50%	1.96%
EPS (Basic)	-2.29	-0.56	-0.98	-1.05	-1.01
EPS (Diluted)	-2.29	-0.56	-0.98	-1.05	-1.01
Operating Margin	15.40%	28.67%	6.89%	41.12%	49.41%
Profit Margin	-81.24%	-97.36%	-96.16%	-185.18%	-153.41%
EBITDA	538.19	211.97	103.3	277.15	378.34
EBITDA Margin	16.02%	32.22%	8.82%	41.79%	50.15%
D&A For Ebitda	20.78	23.41	22.55	4.47	5.61
EBIT	517.41	188.57	80.75	272.68	372.73
EBIT Margin	15.40%	28.67%	6.89%	41.12%	49.41%
Revenue as Reported	3,360	657.82	1,172	663.17	754.41

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