SHE:000539 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	51,268	56,860	59,296	52,221	43,865
Other Revenue	273.38	298.91	412.22	440.35	592.89
Revenue	51,541	57,159	59,708	52,661	44,458
Revenue Growth (YoY)	-9.83%	-4.27%	13.38%	18.45%	32.30%
Operations & Maintenance	9.71	9.84	11.22	9.72	7.59
Selling, General & Admin	1,757	1,727	1,690	1,266	1,173
Provision for Bad Debts	7.87	9.67	25.78	0.3	-0.03
Other Operating Expenses	46,083	49,861	51,323	53,054	47,072
Total Operating Expenses	48,424	52,894	54,166	55,560	48,838
Operating Income	3,117	4,265	5,542	-2,899	-4,380
Interest Expense	-2,250	-2,433	-2,398	-2,261	-1,502
Interest Income	880.75	972.66	1,108	1,195	969.75
Net Interest Expense	-1,370	-1,460	-1,290	-1,066	-532.45
Currency Exchange Gain (Loss)	0.01	-0.08	-2.67	0.97	1
Other Non-Operating Income (Expenses)	-97.07	-356.16	-308.51	-6.93	-131.41
EBT Excluding Unusual Items	1,650	2,448	3,941	-3,971	-5,043
Impairment of Goodwill	-	-6.16	-119.49	-11.89	-
Gain (Loss) on Sale of Investments	-	-	-26.29	-	-
Gain (Loss) on Sale of Assets	20.34	0.1	9.2	30.8	184.59
Asset Writedown	-342.36	-351.69	-1,510	-187.51	40.06
Other Unusual Items	183.01	364.01	121.77	-241.52	41.5
Pretax Income	1,511	2,455	2,416	-4,381	-4,777
Income Tax Expense	479.75	699.8	789.87	107.03	-525.44
Earnings From Continuing Ops.	1,032	1,755	1,626	-4,488	-4,251
Minority Interest in Earnings	-431.71	-790.59	-651.28	1,508	1,323
Net Income	599.94	964.24	974.66	-2,980	-2,928
Net Income to Common	599.94	964.24	974.66	-2,980	-2,928
Net Income Growth	-37.78%	-1.07%	-	-	-
Shares Outstanding (Basic)	5,454	5,357	5,251	5,250	5,250
Shares Outstanding (Diluted)	5,454	5,357	5,251	5,250	5,250
Shares Change (YoY)	1.81%	2.01%	0.02%	-	-
EPS (Basic)	0.11	0.18	0.19	-0.57	-0.56
EPS (Diluted)	0.11	0.18	0.19	-0.57	-0.56
EPS Growth	-38.89%	-3.02%	-	-	-
Free Cash Flow	-2,122	-4,187	-13,250	-13,119	-10,610
Free Cash Flow Per Share	-0.39	-0.78	-2.52	-2.50	-2.02
Dividend Per Share	0.020	0.020	0.020	-	-
Profit Margin	1.16%	1.69%	1.63%	-5.66%	-6.59%
Free Cash Flow Margin	-4.12%	-7.32%	-22.19%	-24.91%	-23.87%
EBITDA	8,928	9,583	10,521	1,825	-259.16
EBITDA Margin	17.32%	16.77%	17.62%	3.46%	-0.58%
D&A For EBITDA	5,811	5,318	4,979	4,724	4,121
EBIT	3,117	4,265	5,542	-2,899	-4,380
EBIT Margin	6.05%	7.46%	9.28%	-5.50%	-9.85%
Effective Tax Rate	31.74%	28.51%	32.70%	-	-

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