SHE:002281 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	12,451	11,900	8,230	6,053	6,904	6,484
Other Revenue	28.3	28.3	42.33	8.17	7.56	2.43
Revenue	12,480	11,929	8,272	6,061	6,912	6,486
Revenue Growth (YoY)	35.60%	44.20%	36.48%	-12.31%	6.56%	7.28%
Cost of Revenue	9,828	9,452	6,644	4,836	5,445	5,062
Gross Profit	2,652	2,477	1,628	1,225	1,467	1,425
Selling, General & Admin	506.29	500.77	359.43	243.83	299.15	278.66
Research & Development	1,090	1,039	712.95	559.59	660.33	661.11
Other Operating Expenses	-47.82	-46.09	-60.36	-42.69	17.26	18.82
Operating Expenses	1,549	1,494	1,005	769.39	976.38	955.28
Operating Income	1,102	982.57	623.23	455.9	490.31	469.27
Interest Expense	-7.15	-7.54	-12.5	-11.53	-14.52	-6.88
Interest & Investment Income	57.4	55.96	95.25	136.38	94.1	77.66
Earnings From Equity Investments	7.35	4.01	1.94	1.03	-	-
Currency Exchange Gain (Loss)	-37.43	-37.43	-20	31.53	50.2	-23.84
Other Non Operating Income (Expenses)	-24.19	-7.83	-3.49	-2.34	-2.59	-3.9
EBT Excluding Unusual Items	1,098	989.75	684.43	610.96	617.5	512.32
Impairment of Goodwill	-	-	-	-	-10.52	-
Gain (Loss) on Sale of Investments	-	-	-	-	-	-8.84
Gain (Loss) on Sale of Assets	0.83	0.75	-0.01	0.03	-1.31	0.4
Asset Writedown	-4.14	-0.38	-2.02	-2.25	-0.69	-0.93
Other Unusual Items	34.11	36.03	38.46	68.35	79.91	117.09
Pretax Income	1,129	1,026	720.86	677.09	684.89	620.03
Income Tax Expense	111.03	94.3	64.69	57.96	71.31	54.27
Earnings From Continuing Operations	1,018	931.86	656.16	619.13	613.58	565.76
Minority Interest in Earnings	18.09	14.46	5.15	-0.06	-5.17	1.51
Net Income	1,036	946.32	661.32	619.08	608.41	567.27
Net Income to Common	1,036	946.32	661.32	619.08	608.41	567.27
Net Income Growth	41.06%	43.10%	6.82%	1.75%	7.25%	16.39%
Shares Outstanding (Basic)	784	782	778	746	676	667
Shares Outstanding (Diluted)	791	789	787	784	699	667
Shares Change (YoY)	-0.18%	0.17%	0.46%	12.06%	4.79%	-0.04%
EPS (Basic)	1.32	1.21	0.85	0.83	0.90	0.85
EPS (Diluted)	1.31	1.20	0.84	0.79	0.87	0.85
EPS Growth	41.32%	42.86%	6.33%	-9.20%	2.35%	16.44%
Free Cash Flow	1,014	802.48	-1,348	379.84	211.11	326.41
Free Cash Flow Per Share	1.28	1.02	-1.71	0.48	0.30	0.49
Dividend Per Share	-	-	0.260	0.240	0.170	0.170
Dividend Growth	-	-	8.33%	41.18%	-	-
Gross Margin	21.25%	20.76%	19.68%	20.22%	21.22%	21.96%
Operating Margin	8.83%	8.24%	7.53%	7.52%	7.09%	7.23%
Profit Margin	8.30%	7.93%	7.99%	10.21%	8.80%	8.75%
Free Cash Flow Margin	8.13%	6.73%	-16.29%	6.27%	3.05%	5.03%
EBITDA	1,556	1,403	913.48	749.93	784.42	733.36
EBITDA Margin	12.46%	11.76%	11.04%	12.37%	11.35%	11.31%
D&A For EBITDA	453.29	420.68	290.24	294.03	294.11	264.09
EBIT	1,102	982.57	623.23	455.9	490.31	469.27
EBIT Margin	8.83%	8.24%	7.53%	7.52%	7.09%	7.23%
Effective Tax Rate	9.84%	9.19%	8.97%	8.56%	10.41%	8.75%
Revenue as Reported	12,480	11,929	8,272	6,061	6,912	6,486
Advertising Expenses	-	6.83	5.17	4.64	4.54	2.83

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