SHE:002270 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	2,395	2,296	1,934	1,689	1,508
Other Revenue	31.82	25.82	26.78	22.33	23.95
Revenue	2,427	2,322	1,961	1,712	1,532
Revenue Growth (YoY)	4.50%	18.41%	14.57%	11.70%	12.00%
Cost of Revenue	1,111	1,193	944.49	870.67	791.69
Gross Profit	1,316	1,129	1,017	840.99	740.69
Selling, General & Admin	421.09	353.53	342.09	330.94	319.65
Research & Development	88.47	81.36	78.47	69.06	64.8
Other Operating Expenses	27.69	27.68	28.12	26.73	22.53
Operating Expenses	536.93	466.1	426.08	424.59	455.78
Operating Income	778.96	662.88	590.56	416.4	284.91
Interest Expense	-13.44	-17.25	-16.3	-22.28	-49.16
Interest & Investment Income	30.82	52.3	37.62	15.53	24.05
Currency Exchange Gain (Loss)	10.48	-3.45	2.12	1.87	-18.56
Other Non Operating Income (Expenses)	-2.25	-6.38	2.65	0.03	-14.7
EBT Excluding Unusual Items	804.57	688.09	616.66	411.55	226.53
Impairment of Goodwill	-	-	-	-	-0.27
Gain (Loss) on Sale of Investments	-12.14	-	6.73	0.18	283.01
Gain (Loss) on Sale of Assets	39.13	-1.28	-1.63	0.43	-0.41
Asset Writedown	-0.31	-0.45	-0.57	-16.78	-0.67
Other Unusual Items	16.96	40.27	24.59	23.56	9.31
Pretax Income	848.21	726.64	645.78	418.94	517.5
Income Tax Expense	128.59	106.86	95.12	55.09	96.49
Earnings From Continuing Operations	719.63	619.78	550.66	363.85	421.01
Minority Interest in Earnings	-9.89	-5.48	-8.25	-4.41	-4.07
Net Income	709.74	614.3	542.41	359.44	416.94
Net Income to Common	709.74	614.3	542.41	359.44	416.94
Net Income Growth	15.54%	13.26%	50.90%	-13.79%	45.13%
Shares Outstanding (Basic)	898	890	889	856	758
Shares Outstanding (Diluted)	898	890	889	856	758
Shares Change (YoY)	0.91%	0.12%	3.90%	12.89%	0.27%
EPS (Basic)	0.79	0.69	0.61	0.42	0.55
EPS (Diluted)	0.79	0.69	0.61	0.42	0.55
EPS Growth	14.49%	13.11%	45.24%	-23.64%	44.74%
Free Cash Flow	491.89	775.58	558.66	427.38	173.39
Free Cash Flow Per Share	0.55	0.87	0.63	0.50	0.23
Dividend Per Share	0.610	0.546	0.820	0.560	0.300
Dividend Growth	11.72%	-33.41%	46.43%	86.67%	289.61%
Gross Margin	54.22%	48.62%	51.84%	49.13%	48.34%
Operating Margin	32.10%	28.54%	30.11%	24.33%	18.59%
Profit Margin	29.25%	26.45%	27.66%	21.00%	27.21%
Free Cash Flow Margin	20.27%	33.40%	28.49%	24.97%	11.31%
EBITDA	853.16	735.21	660.45	484.07	348.76
EBITDA Margin	35.16%	31.66%	33.68%	28.28%	22.76%
D&A For EBITDA	74.2	72.33	69.89	67.67	63.85
EBIT	778.96	662.88	590.56	416.4	284.91
EBIT Margin	32.10%	28.54%	30.11%	24.33%	18.59%
Effective Tax Rate	15.16%	14.70%	14.73%	13.15%	18.64%
Revenue as Reported	2,427	2,322	1,961	1,712	1,532
Advertising Expenses	6.31	6.11	3.96	4.74	0.85

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