Jiangsu Shagang 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	12,016	12,308	13,297	14,223	16,108	17,367
Other Revenue	812.6	812.6	1,119	1,394	2,065	1,120
Revenue	12,829	13,121	14,416	15,617	18,173	18,487
Revenue Growth (YoY)	-9.31%	-8.98%	-7.69%	-14.07%	-1.70%	28.14%
Cost of Revenue	11,720	11,969	13,756	14,635	16,630	15,194
Gross Profit	1,109	1,152	660.01	981.43	1,543	3,293
Selling, General & Admin	288.54	293.09	267.43	270.39	266.65	299.87
Research & Development	494.19	515.96	533.45	528.37	562.13	545.94
Other Operating Expenses	-1.85	-37.38	-55.72	20.18	61.01	72.24
Operating Expenses	778.53	769.32	751.25	820.52	891.43	916.42
Operating Income	330.1	382.84	-91.24	160.91	651.7	2,377
Interest Expense	-153.5	-153.5	-114.83	-100.01	-47.52	-40.98
Interest & Investment Income	393.93	395.76	444.08	318.39	210.71	224.25
Currency Exchange Gain (Loss)	1.61	1.61	8.6	3.18	0.92	-0.72
Other Non Operating Income (Expenses)	-11.45	-3.71	-4.49	-6.33	-5.96	-2.84
EBT Excluding Unusual Items	560.7	623	242.11	376.14	809.85	2,557
Gain (Loss) on Sale of Investments	4.03	-6.5	-43.32	44.78	-16.1	37.72
Gain (Loss) on Sale of Assets	4.82	2.51	1.4	-0.12	-	-
Asset Writedown	-74.1	-75.95	-8.94	-119.99	-5.87	-1.51
Legal Settlements	-0.21	-0.21	-0.29	-0.88	-1.1	-1.28
Other Unusual Items	28.74	28.74	44.71	75.76	89.6	52.98
Pretax Income	523.97	571.59	235.66	375.69	876.38	2,645
Income Tax Expense	79.26	79.71	53.88	57.2	74.53	533.08
Earnings From Continuing Operations	444.71	491.88	181.78	318.49	801.85	2,112
Minority Interest in Earnings	-194.58	-224.46	-19.2	-93.46	-348.75	-999.25
Net Income	250.13	267.42	162.58	225.03	453.1	1,112
Net Income to Common	250.13	267.42	162.58	225.03	453.1	1,112
Net Income Growth	37.94%	64.48%	-27.75%	-50.34%	-59.27%	71.25%
Shares Outstanding (Basic)	2,229	2,229	2,323	2,250	2,158	2,181
Shares Outstanding (Diluted)	2,229	2,229	2,323	2,250	2,158	2,181
Shares Change (YoY)	-4.08%	-4.05%	3.22%	4.29%	-1.07%	0.74%
EPS (Basic)	0.11	0.12	0.07	0.10	0.21	0.51
EPS (Diluted)	0.11	0.12	0.07	0.10	0.21	0.51
EPS Growth	43.81%	71.43%	-30.00%	-52.38%	-58.82%	70.00%
Free Cash Flow	522.66	982.18	-49.72	-868.19	219.87	2,141
Free Cash Flow Per Share	0.23	0.44	-0.02	-0.39	0.10	0.98
Dividend Per Share	0.050	0.050	0.050	0.050	0.050	0.080
Dividend Growth	-	-	-	-	-37.50%	-20.00%
Gross Margin	8.64%	8.78%	4.58%	6.28%	8.49%	17.82%
Operating Margin	2.57%	2.92%	-0.63%	1.03%	3.59%	12.86%
Profit Margin	1.95%	2.04%	1.13%	1.44%	2.49%	6.02%
Free Cash Flow Margin	4.07%	7.49%	-0.34%	-5.56%	1.21%	11.58%
EBITDA	1,141	1,169	596.65	732.82	1,130	2,829
EBITDA Margin	8.89%	8.91%	4.14%	4.69%	6.22%	15.30%
D&A For EBITDA	810.43	785.92	687.89	571.9	478.56	452.25
EBIT	330.1	382.84	-91.24	160.91	651.7	2,377
EBIT Margin	2.57%	2.92%	-0.63%	1.03%	3.59%	12.86%
Effective Tax Rate	15.13%	13.94%	22.86%	15.23%	8.50%	20.16%
Revenue as Reported	13,121	13,121	14,416	15,617	18,173	18,487

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