SHE:000523 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	Jun '26 Jun 30, 2026	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
Operating Revenue	2,087	2,098	2,208	2,613	2,625	2,573
Other Revenue	24.49	21.22	18.86	15.98	11.5	12.55
Revenue	2,111	2,119	2,227	2,629	2,637	2,586
Revenue Growth	-3.53%	-4.86%	-15.29%	-0.29%	1.99%	-22.01%
Cost of Revenue	1,826	1,813	1,897	2,303	2,338	2,222
Gross Profit	285.22	306.03	329.85	326.57	298.87	363.16
Selling, General & Admin	208.03	202.8	201.53	201.86	273.05	379.79
Research & Development	6.83	9.07	11.76	20.57	39.33	54.48
Other Operating Expenses	14.12	8.91	-1.78	3.51	10.55	12.87
Operating Expenses	232.72	221.24	213.6	230.76	449.73	497.19
Operating Income	52.5	84.78	116.25	95.81	-150.86	-134.03
Interest Expense	-38.17	-40.28	-33.46	-35.02	-40.99	-136.77
Interest & Investment Income	28.61	37.18	26.83	48.07	142.22	2,428
Currency Exchange Gain (Loss)	0	0	0	-0.43	0.53	0.23
Other Non Operating Income (Expenses)	0.2	-0.18	-2.42	7.53	-4	-73.31
EBT Excluding Unusual Items	43.14	81.51	107.2	115.97	-53.09	2,084
Gain (Loss) on Sale of Investments	-0.72	2.37	-	-	-1.2	-78.31
Gain (Loss) on Sale of Assets	100.32	78.54	54.94	39.64	34.89	-0.09
Asset Writedown	-	-	-	-	-11.7	-7.22
Legal Settlements	-53.33	-53.33	-16.49	-110.58	-5.45	-46.88
Other Unusual Items	101.08	39.17	23.52	17.73	14.68	-130.55
Pretax Income	190.48	148.25	169.17	62.76	-21.87	1,821
Income Tax Expense	35.03	33.88	-392.04	-36.55	11.67	386.97
Earnings From Continuing Operations	155.45	114.37	561.22	99.31	-33.54	1,434
Minority Interest in Earnings	-33.52	-35.01	-41.55	-24.48	-14.62	20.98
Net Income	121.93	79.36	519.66	74.83	-48.16	1,455
Net Income to Common	121.93	79.36	519.66	74.83	-48.16	1,455
Net Income Growth	-76.35%	-84.73%	594.43%	-	-	-
Shares Outstanding (Basic)	1,782	1,820	1,856	1,871	1,605	1,599
Shares Outstanding (Diluted)	1,782	1,820	1,856	1,871	1,605	1,599
Shares Change	-5.40%	-1.93%	-0.80%	16.55%	0.36%	155.02%
EPS (Basic)	0.07	0.04	0.28	0.04	-0.03	0.91
EPS (Diluted)	0.07	0.04	0.28	0.04	-0.03	0.91
EPS Growth	-75.00%	-84.43%	600.00%	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Free Cash Flow	264.37	378.96	64.46	371.47	-389.93	-191.04
Free Cash Flow Per Share	0.15	0.21	0.04	0.20	-0.24	-0.12
Gross Margin	13.51%	14.44%	14.81%	12.42%	11.33%	14.05%
Operating Margin	2.49%	4.00%	5.22%	3.64%	-5.72%	-5.18%
Profit Margin	5.78%	3.74%	23.33%	2.85%	-1.83%	56.29%
Free Cash Flow Margin	12.52%	17.88%	2.89%	14.13%	-14.79%	-7.39%
EBITDA	99.39	130.18	159.54	145.71	-91.14	-71.54
EBITDA Margin	4.71%	6.14%	7.16%	5.54%	-3.46%	-2.77%
D&A For EBITDA	46.88	45.39	43.29	49.9	59.72	62.5
EBIT	52.5	84.78	116.25	95.81	-150.86	-134.03
EBIT Margin	2.49%	4.00%	5.22%	3.64%	-5.72%	-5.18%
Effective Tax Rate	18.39%	22.85%	-	-	-	21.25%
Revenue as Reported	2,111	2,119	2,227	2,629	2,637	2,586
Advertising Expenses	-	12.09	11.19	7.38	18.12	41.54