SHE:002128 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	30,343	29,467	29,265	26,236	26,314	24,281
Other Revenue	647.84	647.84	594.21	609.22	478.73	391.42
Revenue	30,991	30,115	29,859	26,846	26,793	24,673
Revenue Growth (YoY)	3.12%	0.86%	11.22%	0.20%	8.59%	22.91%
Cost of Revenue	18,668	19,028	19,706	18,314	18,386	16,292
Gross Profit	12,323	11,087	10,153	8,531	8,407	8,380
Selling, General & Admin	1,135	1,090	1,036	944.17	796.64	659.13
Research & Development	40.98	41.06	78.11	31.69	60.58	11.6
Other Operating Expenses	1,711	1,679	1,716	1,549	1,566	1,481
Operating Expenses	2,889	2,812	2,825	2,533	2,410	2,148
Operating Income	9,434	8,275	7,327	5,998	5,997	6,232
Interest Expense	-130.24	-141.18	-208.93	-122.06	-284.38	-355.65
Interest & Investment Income	108.24	108.39	113.02	170.06	114.13	14.5
Earnings From Equity Investments	-14.99	-	-	-	-	92.73
Currency Exchange Gain (Loss)	-0	-0	0.08	-	0	-0
Other Non Operating Income (Expenses)	-121.74	-118.71	-218.62	-146.8	-81.68	-94.49
EBT Excluding Unusual Items	9,275	8,123	7,013	5,899	5,745	5,889
Gain (Loss) on Sale of Investments	0.8	0.8	-0.85	1.01	2.15	0.01
Gain (Loss) on Sale of Assets	0.37	0.41	9.1	2.52	0.33	-0.04
Asset Writedown	-53.54	-52.34	-105.7	-26.9	-157.39	-144.75
Legal Settlements	-8.38	-8.38	-	-	-	-
Other Unusual Items	-35.23	-35.84	10.67	-23.56	-6.14	-100.59
Pretax Income	9,179	8,028	6,926	5,852	5,584	5,644
Income Tax Expense	1,786	1,498	1,055	831.52	878.01	851.52
Earnings From Continuing Operations	7,393	6,530	5,871	5,021	4,706	4,792
Minority Interest in Earnings	-1,532	-1,111	-529.54	-461.05	-719.6	-1,210
Net Income	5,861	5,419	5,342	4,560	3,986	3,582
Net Income to Common	5,861	5,419	5,342	4,560	3,986	3,582
Net Income Growth	18.26%	1.45%	17.15%	14.39%	11.27%	73.00%
Shares Outstanding (Basic)	2,245	2,239	2,244	2,161	1,926	1,926
Shares Outstanding (Diluted)	2,245	2,239	2,244	2,161	1,926	1,926
Shares Change (YoY)	0.10%	-0.23%	3.86%	12.22%	-0.02%	0.45%
EPS (Basic)	2.61	2.42	2.38	2.11	2.07	1.86
EPS (Diluted)	2.61	2.42	2.38	2.11	2.07	1.86
EPS Growth	18.14%	1.68%	12.80%	1.93%	11.29%	72.22%
Free Cash Flow	2,877	1,458	3,765	-925.92	1,776	2,996
Free Cash Flow Per Share	1.28	0.65	1.68	-0.43	0.92	1.56
Dividend Per Share	1.300	1.300	0.850	0.680	0.500	0.500
Dividend Growth	52.94%	52.94%	25.00%	36.00%	-	25.00%
Gross Margin	39.76%	36.81%	34.00%	31.78%	31.38%	33.97%
Operating Margin	30.44%	27.48%	24.54%	22.34%	22.38%	25.26%
Profit Margin	18.91%	18.00%	17.89%	16.98%	14.88%	14.52%
Free Cash Flow Margin	9.28%	4.84%	12.61%	-3.45%	6.63%	12.14%
EBITDA	12,579	11,354	10,142	8,217	8,128	8,290
EBITDA Margin	40.59%	37.70%	33.97%	30.61%	30.34%	33.60%
D&A For EBITDA	3,146	3,079	2,815	2,219	2,132	2,058
EBIT	9,434	8,275	7,327	5,998	5,997	6,232
EBIT Margin	30.44%	27.48%	24.54%	22.34%	22.38%	25.26%
Effective Tax Rate	19.45%	18.66%	15.23%	14.21%	15.72%	15.09%
Revenue as Reported	30,991	30,115	29,859	26,846	26,793	24,673
Advertising Expenses	-	5.72	7.86	10.15	6.02	-

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