SHE:002041 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	Jan '22 Jan 1, 2022
Operating Revenue	1,191	1,089	1,229	1,531	1,311	1,083
Other Revenue	12.77	12.77	16.24	20.85	14.59	17.92
Revenue	1,204	1,102	1,246	1,552	1,326	1,101
Revenue Growth (YoY)	2.38%	-11.55%	-19.74%	17.06%	20.45%	22.20%
Cost of Revenue	884.57	817.59	1,027	1,117	912.84	691.21
Gross Profit	319.23	284.22	218.63	434.59	412.96	409.52
Selling, General & Admin	190.4	186.47	189.73	182.87	162.6	178.95
Research & Development	77.64	74.4	76.68	59.51	44.15	62.26
Other Operating Expenses	13.24	7.76	7.87	6.67	5.2	6.31
Operating Expenses	285.52	272.88	273.64	252.68	213.15	248.79
Operating Income	33.71	11.34	-55.01	181.91	199.81	160.73
Interest Expense	-1.23	-1.23	-0.93	-0.59	-0.39	-0.51
Interest & Investment Income	65.13	66.6	65.31	78.52	105.64	68.58
Other Non Operating Income (Expenses)	-1.35	-1.1	-0.96	-0.92	-0.53	-0.86
EBT Excluding Unusual Items	96.27	75.61	8.41	258.93	304.53	227.94
Gain (Loss) on Sale of Investments	1.98	3.38	4.49	6.64	-23.95	10.98
Gain (Loss) on Sale of Assets	-0.03	5.94	-0.73	0.59	-0.36	1.19
Asset Writedown	-3.47	-3.47	-0.16	-0.25	-0.02	-1.31
Other Unusual Items	56.11	56.11	49.83	35.14	12.69	0.76
Pretax Income	150.86	137.57	61.84	301.04	292.89	239.55
Income Tax Expense	31.2	28.53	-21.82	1.84	3.95	0.89
Earnings From Continuing Operations	119.66	109.05	83.66	299.2	288.95	238.66
Minority Interest in Earnings	-18.87	-17.39	-27.03	-43.42	-35.73	-5.87
Net Income	100.79	91.65	56.63	255.78	253.22	232.8
Net Income to Common	100.79	91.65	56.63	255.78	253.22	232.8
Net Income Growth	97.29%	61.86%	-77.86%	1.01%	8.77%	128.33%
Shares Outstanding (Basic)	880	880	881	880	880	880
Shares Outstanding (Diluted)	880	880	881	880	880	880
Shares Change (YoY)	0.02%	-0.12%	0.09%	0.00%	-0.03%	0.05%
EPS (Basic)	0.11	0.10	0.06	0.29	0.29	0.26
EPS (Diluted)	0.11	0.10	0.06	0.29	0.29	0.26
EPS Growth	97.25%	62.05%	-77.88%	1.01%	8.81%	128.21%
Free Cash Flow	147.98	100.98	-6.65	59.83	-40.99	297.9
Free Cash Flow Per Share	0.17	0.12	-0.01	0.07	-0.05	0.34
Dividend Per Share	-	-	0.029	0.036	-	0.036
Dividend Growth	-	-	-19.44%	-	-	2.86%
Gross Margin	26.52%	25.80%	17.55%	28.00%	31.15%	37.20%
Operating Margin	2.80%	1.03%	-4.42%	11.72%	15.07%	14.60%
Profit Margin	8.37%	8.32%	4.55%	16.48%	19.10%	21.15%
Free Cash Flow Margin	12.29%	9.16%	-0.53%	3.85%	-3.09%	27.06%
EBITDA	106.12	82.71	12.2	243.85	265.51	226.56
EBITDA Margin	8.82%	7.51%	0.98%	15.71%	20.03%	20.58%
D&A For EBITDA	72.41	71.37	67.21	61.93	65.7	65.83
EBIT	33.71	11.34	-55.01	181.91	199.81	160.73
EBIT Margin	2.80%	1.03%	-4.42%	11.72%	15.07%	14.60%
Effective Tax Rate	20.68%	20.74%	-	0.61%	1.35%	0.37%
Revenue as Reported	1,102	1,102	1,246	1,552	1,326	1,101
Advertising Expenses	-	13.63	21.61	14.84	11.1	20.69

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