SHE:000404 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	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Operating Revenue	11,223	11,678	11,866	12,817	13,022	13,111
Other Revenue	102.68	102.68	100.18	71.76	73.67	87.93
Revenue	11,326	11,781	11,967	12,889	13,095	13,199
Revenue Growth (YoY)	-6.49%	-1.55%	-7.16%	-1.58%	-0.78%	26.27%
Cost of Revenue	9,742	10,257	10,532	11,355	11,713	12,166
Gross Profit	1,584	1,523	1,434	1,534	1,383	1,033
Selling, General & Admin	402.46	425.49	443.27	501.2	494.51	441
Research & Development	460.06	443.36	357.65	476.96	466.5	434.04
Other Operating Expenses	28.35	33.93	33.9	46.78	35.89	29.97
Operating Expenses	894.03	892.58	816.89	1,045	1,050	903.61
Operating Income	690.14	630.85	617.16	488.88	332.8	129.3
Interest Expense	-60.73	-65.32	-71.39	-55.94	-41.45	-36.89
Interest & Investment Income	122.98	133.87	222.16	139.83	154.72	225.98
Currency Exchange Gain (Loss)	13.35	13.35	-13.56	16.17	36.88	9.64
Other Non Operating Income (Expenses)	-46.35	-17.79	-17.38	-5.36	-0.41	-10.12
EBT Excluding Unusual Items	719.4	694.96	737	583.58	482.54	317.9
Impairment of Goodwill	-	-	-	-9.62	-	-34.97
Gain (Loss) on Sale of Investments	58.92	58.4	-24.89	16.1	-26.71	20.85
Gain (Loss) on Sale of Assets	0.08	0.33	-3.19	-6.44	-3.93	3.48
Asset Writedown	-15.35	-8.16	-20.75	-41.65	-24.88	-33.93
Other Unusual Items	47.64	42.43	36.35	37.86	33.74	59.53
Pretax Income	810.69	787.96	724.52	579.83	460.76	332.86
Income Tax Expense	110.52	103.75	89.51	48.51	43.27	43.17
Earnings From Continuing Operations	700.17	684.21	635.01	531.31	417.49	289.69
Minority Interest in Earnings	-190.39	-189.44	-184.8	-169.16	-154.74	-104.26
Net Income	509.78	494.77	450.21	362.16	262.75	185.43
Net Income to Common	509.78	494.77	450.21	362.16	262.75	185.43
Net Income Growth	8.31%	9.90%	24.31%	37.83%	41.70%	59.81%
Shares Outstanding (Basic)	692	693	696	696	696	696
Shares Outstanding (Diluted)	692	693	696	696	696	696
Shares Change (YoY)	-0.55%	-0.44%	-0.01%	0.00%	-0.01%	-
EPS (Basic)	0.74	0.71	0.65	0.52	0.38	0.27
EPS (Diluted)	0.74	0.71	0.65	0.52	0.38	0.27
EPS Growth	8.91%	10.39%	24.33%	37.83%	41.70%	59.81%
Free Cash Flow	961.21	656.51	449.1	526.79	636.01	1,308
Free Cash Flow Per Share	1.39	0.95	0.65	0.76	0.91	1.88
Dividend Per Share	0.330	0.330	0.300	0.250	0.200	0.150
Dividend Growth	10.00%	10.00%	20.00%	25.00%	33.33%	50.00%
Gross Margin	13.99%	12.93%	11.98%	11.90%	10.56%	7.83%
Operating Margin	6.09%	5.36%	5.16%	3.79%	2.54%	0.98%
Profit Margin	4.50%	4.20%	3.76%	2.81%	2.01%	1.41%
Free Cash Flow Margin	8.49%	5.57%	3.75%	4.09%	4.86%	9.91%
EBITDA	863.52	804.57	792.25	690.26	534.76	328.42
EBITDA Margin	7.62%	6.83%	6.62%	5.36%	4.08%	2.49%
D&A For EBITDA	173.38	173.72	175.09	201.38	201.97	199.12
EBIT	690.14	630.85	617.16	488.88	332.8	129.3
EBIT Margin	6.09%	5.36%	5.16%	3.79%	2.54%	0.98%
Effective Tax Rate	13.63%	13.17%	12.35%	8.37%	9.39%	12.97%
Revenue as Reported	11,326	11,781	11,967	12,889	13,095	13,199
Advertising Expenses	-	0.61	0.91	1.04	1.9	3.91

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