SHE:002168 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	Jan '22 Jan 1, 2022
Operating Revenue	364.21	194.26	247.49	237.84	323.29
Other Revenue	4.93	2.98	6.68	6.57	6.62
Revenue	369.14	197.24	254.16	244.41	329.91
Revenue Growth (YoY)	87.16%	-22.40%	3.99%	-25.92%	-57.97%
Cost of Revenue	190.93	178.53	180.99	173.73	216.34
Gross Profit	178.2	18.71	73.17	70.68	113.57
Selling, General & Admin	159.74	104.6	152.43	128.41	249.58
Research & Development	21.52	10.67	17.55	31.31	40.53
Other Operating Expenses	2.7	0.9	2.73	2.52	2.97
Operating Expenses	183.35	121.83	179.86	163.83	297.88
Operating Income	-5.15	-103.13	-106.68	-93.15	-184.31
Interest Expense	-20.53	-25.12	-26.44	-26.52	-30.07
Interest & Investment Income	5.72	0.26	4.89	0.79	0.98
Currency Exchange Gain (Loss)	0.14	0	0.13	0.11	-0.35
Other Non Operating Income (Expenses)	-1.38	33.55	-2.72	-1.82	-10.4
EBT Excluding Unusual Items	-21.21	-94.44	-130.82	-120.6	-224.16
Impairment of Goodwill	-	-6.33	-0.36	-	-
Gain (Loss) on Sale of Investments	-10.05	-10.52	0.21	-2.1	-29.15
Gain (Loss) on Sale of Assets	0.22	-0.85	-2.76	0.14	1.85
Asset Writedown	-9.86	-0.56	-0.5	-0.02	-8.18
Other Unusual Items	-6.08	-11.23	141.33	10.63	0.63
Pretax Income	-46.98	-123.93	7.11	-111.94	-259
Income Tax Expense	14.61	28.25	5.15	9.42	-5.72
Earnings From Continuing Operations	-61.59	-152.18	1.96	-121.36	-253.29
Minority Interest in Earnings	-17.43	2.66	-0.06	5.83	30.43
Net Income	-79.02	-149.52	1.9	-115.53	-222.85
Net Income to Common	-79.02	-149.52	1.9	-115.53	-222.85
Shares Outstanding (Basic)	784	784	791	770	796
Shares Outstanding (Diluted)	784	784	791	770	796
Shares Change (YoY)	-0.02%	-0.82%	2.64%	-3.23%	0.10%
EPS (Basic)	-0.10	-0.19	0.00	-0.15	-0.28
EPS (Diluted)	-0.10	-0.19	0.00	-0.15	-0.28
Free Cash Flow	91.28	-128.3	-31.59	13.09	198.69
Free Cash Flow Per Share	0.12	-0.16	-0.04	0.02	0.25
Gross Margin	48.28%	9.48%	28.79%	28.92%	34.42%
Operating Margin	-1.40%	-52.29%	-41.98%	-38.11%	-55.87%
Profit Margin	-21.41%	-75.81%	0.75%	-47.27%	-67.55%
Free Cash Flow Margin	24.73%	-65.05%	-12.43%	5.36%	60.22%
EBITDA	2.59	-91.24	-90.97	-78.04	-169.2
EBITDA Margin	0.70%	-46.26%	-35.79%	-31.93%	-51.29%
D&A For EBITDA	7.73	11.89	15.72	15.12	15.11
EBIT	-5.15	-103.13	-106.68	-93.15	-184.31
EBIT Margin	-1.40%	-52.29%	-41.98%	-38.11%	-55.87%
Effective Tax Rate	-	-	72.49%	-	-
Revenue as Reported	369.14	197.24	254.16	244.41	329.91
Advertising Expenses	71.26	7.19	7.17	11.5	120.05

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