SHE:002134 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	1,379	1,014	593.68	527.75	647.45
Other Revenue	-	114.4	52.59	52.97	52.62
Revenue	1,379	1,128	646.27	580.72	700.07
Revenue Growth (YoY)	22.20%	74.57%	11.29%	-17.05%	52.89%
Cost of Revenue	1,178	941.06	507.02	489.22	593.12
Gross Profit	200.19	187.16	139.24	91.5	106.96
Selling, General & Admin	107.25	92.86	77.14	43.06	50.4
Research & Development	54.31	38.14	20.77	18.01	22.1
Other Operating Expenses	4.57	4.5	4.79	2.54	3.86
Operating Expenses	166.13	136.61	102.91	62.35	77.03
Operating Income	34.06	50.55	36.34	29.15	29.93
Interest Expense	-	-12.62	-0.8	-	-0.26
Interest & Investment Income	1.82	2.78	0.72	0.97	1.97
Currency Exchange Gain (Loss)	-	2.76	2.95	4.59	-4.09
Other Non Operating Income (Expenses)	-29.41	-0.58	-0.27	-0.26	-0.19
EBT Excluding Unusual Items	6.47	42.89	38.93	34.46	27.36
Gain (Loss) on Sale of Investments	-	-	-1.05	-6.01	0.03
Gain (Loss) on Sale of Assets	1.91	1.91	-0	-	-
Asset Writedown	-5.67	-5.64	-11.23	-13.53	-1.66
Other Unusual Items	-	3.79	1.04	1.46	1.33
Pretax Income	2.72	42.95	27.69	16.38	27.06
Income Tax Expense	-2.35	-1.24	1.43	0.32	-0.03
Earnings From Continuing Operations	5.07	44.19	26.26	16.06	27.09
Minority Interest in Earnings	-0.31	-10.32	0.17	-	-
Net Income	4.76	33.86	26.42	16.06	27.09
Net Income to Common	4.76	33.86	26.42	16.06	27.09
Net Income Growth	-85.93%	28.16%	64.55%	-40.71%	316.63%
Shares Outstanding (Basic)	238	226	240	229	246
Shares Outstanding (Diluted)	238	226	240	229	246
Shares Change (YoY)	5.52%	-6.02%	4.71%	-6.83%	13.63%
EPS (Basic)	0.02	0.15	0.11	0.07	0.11
EPS (Diluted)	0.02	0.15	0.11	0.07	0.11
EPS Growth	-86.67%	36.36%	57.14%	-36.36%	266.67%
Free Cash Flow	-98.85	-261.48	-76.34	-77.65	64.6
Free Cash Flow Per Share	-0.41	-1.16	-0.32	-0.34	0.26
Gross Margin	14.52%	16.59%	21.55%	15.76%	15.28%
Operating Margin	2.47%	4.48%	5.62%	5.02%	4.28%
Profit Margin	0.35%	3.00%	4.09%	2.77%	3.87%
Free Cash Flow Margin	-7.17%	-23.18%	-11.81%	-13.37%	9.23%
EBITDA	120.58	95.29	63.35	46.23	44.53
EBITDA Margin	8.75%	8.45%	9.80%	7.96%	6.36%
D&A For EBITDA	86.52	44.74	27.02	17.07	14.6
EBIT	34.06	50.55	36.34	29.15	29.93
EBIT Margin	2.47%	4.48%	5.62%	5.02%	4.28%
Effective Tax Rate	-	-	5.17%	1.97%	-
Revenue as Reported	-	1,128	646.27	580.72	700.07

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.