SHE:000965 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	Dec '21 Dec 31, 2021
Operating Revenue	2,804	2,055	3,063	2,465	2,331
Other Revenue	0.45	475.57	-	-	209.66
Revenue	2,804	2,531	3,063	2,465	2,540
Revenue Growth (YoY)	10.79%	-17.37%	24.26%	-2.97%	210.06%
Cost of Revenue	2,488	2,249	2,818	1,937	1,483
Gross Profit	316.15	281.7	244.69	527.92	1,057
Selling, General & Admin	158.63	140.4	146.98	150.15	125.95
Other Operating Expenses	-109.75	1.81	69.5	136.47	539.85
Operating Expenses	85.12	112.88	244.18	281.96	682.38
Operating Income	231.03	168.82	0.51	245.96	375.07
Interest Expense	-100.68	-132.07	-142.71	-198.38	-179.71
Interest & Investment Income	12.28	44.99	30.03	9.32	5.35
Other Non Operating Income (Expenses)	-1.3	-2.34	-0.55	-9.49	-4.53
EBT Excluding Unusual Items	141.34	79.39	-112.72	47.41	196.19
Impairment of Goodwill	-	-4.29	-	-	-
Gain (Loss) on Sale of Investments	-3.36	-	-	2.27	-8.57
Gain (Loss) on Sale of Assets	-	-0.28	-	-	0
Asset Writedown	-	-	-	-0	-0.05
Other Unusual Items	-3.66	2.4	155.58	1.37	1.29
Pretax Income	134.31	77.23	42.85	51.05	188.86
Income Tax Expense	69.42	70.04	14.35	27.62	139.32
Earnings From Continuing Operations	64.89	7.18	28.5	23.42	49.53
Minority Interest in Earnings	-45.69	9.66	-8.46	-0.12	-0.02
Net Income	19.21	16.85	20.04	23.3	49.51
Net Income to Common	19.21	16.85	20.04	23.3	49.51
Net Income Growth	14.04%	-15.93%	-14.02%	-52.93%	-
Shares Outstanding (Basic)	1,110	1,108	1,107	1,110	1,110
Shares Outstanding (Diluted)	1,110	1,108	1,107	1,110	1,110
Shares Change (YoY)	0.19%	0.11%	-0.24%	-0.04%	0.02%
EPS (Basic)	0.02	0.02	0.02	0.02	0.04
EPS (Diluted)	0.02	0.02	0.02	0.02	0.04
EPS Growth	13.82%	-16.02%	-13.81%	-52.91%	-
Free Cash Flow	-1,408	711.55	-1,255	843.4	999.18
Free Cash Flow Per Share	-1.27	0.64	-1.13	0.76	0.90
Dividend Per Share	0.010	0.010	0.020	0.020	-
Dividend Growth	-	-50.00%	-	-	-
Gross Margin	11.28%	11.13%	7.99%	21.42%	41.63%
Operating Margin	8.24%	6.67%	0.02%	9.98%	14.77%
Profit Margin	0.69%	0.67%	0.65%	0.95%	1.95%
Free Cash Flow Margin	-50.21%	28.12%	-40.98%	34.22%	39.33%
EBITDA	270.12	215.82	39	279.55	408.49
EBITDA Margin	9.63%	8.53%	1.27%	11.34%	16.08%
D&A For EBITDA	39.09	47	38.49	33.59	33.42
EBIT	231.03	168.82	0.51	245.96	375.07
EBIT Margin	8.24%	6.67%	0.02%	9.98%	14.77%
Effective Tax Rate	51.68%	90.70%	33.50%	54.12%	73.77%
Revenue as Reported	2,804	2,531	3,063	2,465	2,540
Advertising Expenses	5.47	4.3	1.75	1.99	3.9

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