SHE:002029 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	3,013	2,946	3,085	3,367	3,087	3,399
Other Revenue	30.32	57.83	54.9	77.95	141.4	114.79
Revenue	3,044	3,004	3,140	3,445	3,228	3,514
Revenue Growth	-0.32%	-4.35%	-8.84%	6.70%	-8.13%	5.52%
Cost of Revenue	1,570	1,586	1,794	2,059	2,125	2,244
Gross Profit	1,474	1,417	1,346	1,386	1,103	1,271
Selling, General & Admin	1,323	1,364	1,314	1,191	1,014	996.96
Research & Development	30.56	26.75	53.25	76.79	74.69	77.74
Other Operating Expenses	6.48	19.23	20.64	18.62	30.92	28.07
Operating Expenses	1,367	1,412	1,389	1,284	1,123	1,089
Operating Income	107.38	5.32	-43.32	101.69	-20.08	181.87
Interest Expense	-13.4	-27.27	-26.53	-43.48	-60.55	-56.79
Interest & Investment Income	172.36	182.09	192.87	267.32	243.07	202.71
Currency Exchange Gain (Loss)	-0.2	-0.02	-0.55	0.29	0.22	0.05
Other Non Operating Income (Expenses)	31.77	-7.87	-9.96	-6.14	3.8	4.83
EBT Excluding Unusual Items	297.91	152.26	112.52	319.66	166.47	332.67
Gain (Loss) on Sale of Investments	32.56	304.5	206.46	-2.22	0.54	-23.57
Gain (Loss) on Sale of Assets	-7.18	-4.34	2.24	1.22	0.25	-0.32
Asset Writedown	-131.8	-82.92	-0.3	-0.3	-0.21	-0.37
Other Unusual Items	8.81	37.56	27.93	66.35	55.11	20.6
Pretax Income	200.29	407.06	348.86	384.72	222.17	329.01
Income Tax Expense	52.38	66.7	24.63	60.25	29.25	55.81
Earnings From Continuing Operations	147.91	340.36	324.23	324.47	192.92	273.2
Minority Interest in Earnings	-3.03	-7.71	-39.68	-54.36	-42.27	-41.98
Net Income	144.89	332.65	284.55	270.11	150.65	231.22
Net Income to Common	144.89	332.65	284.55	270.11	150.65	231.22
Net Income Growth	-43.97%	16.91%	5.34%	79.30%	-34.85%	10.65%
Shares Outstanding (Basic)	671	679	694	711	717	723
Shares Outstanding (Diluted)	671	679	694	711	717	723
Shares Change	-1.90%	-2.18%	-2.36%	-0.91%	-0.72%	-3.18%
EPS (Basic)	0.22	0.49	0.41	0.38	0.21	0.32
EPS (Diluted)	0.22	0.49	0.41	0.38	0.21	0.32
EPS Growth	-42.88%	19.51%	7.90%	80.95%	-34.38%	14.29%

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	393.24	278.12	102.98	231.57	127.02	431.96
Free Cash Flow Per Share	0.59	0.41	0.15	0.33	0.18	0.60
Dividend Per Share	0.100	0.100	0.100	0.120	-	-
Dividend Growth	0%	0%	-16.67%	20.00%	-	-
Gross Margin	48.43%	47.18%	42.85%	40.23%	34.16%	36.16%
Operating Margin	3.53%	0.18%	-1.38%	2.95%	-0.62%	5.17%
Profit Margin	4.76%	11.07%	9.06%	7.84%	4.67%	6.58%
Free Cash Flow Margin	12.92%	9.26%	3.28%	6.72%	3.93%	12.29%
EBITDA	187.87	86.45	46.98	197.24	80.23	283.22
EBITDA Margin	6.17%	2.88%	1.50%	5.73%	2.48%	8.06%
D&A For EBITDA	80.49	81.13	90.3	95.56	100.31	101.35
EBIT	107.38	5.32	-43.32	101.69	-20.08	181.87
EBIT Margin	3.53%	0.18%	-1.38%	2.95%	-0.62%	5.17%
Effective Tax Rate	26.15%	16.39%	7.06%	15.66%	13.17%	16.96%
Revenue as Reported	1,629	3,004	3,140	3,445	3,228	3,514
Advertising Expenses	-	127.11	161.85	164.2	117.26	153.72