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	Jun '26 Jun 30, 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	13,267	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	13,295	11,929	8,272	6,061	6,912	6,486
Revenue Growth	27.77%	44.20%	36.48%	-12.31%	6.56%	7.28%
Cost of Revenue	10,312	9,452	6,644	4,836	5,445	5,062
Gross Profit	2,984	2,477	1,628	1,225	1,467	1,425
Selling, General & Admin	546.11	500.77	359.43	243.83	299.15	278.66
Research & Development	1,179	1,039	712.95	559.59	660.33	661.11
Other Operating Expenses	-45.41	-46.09	-60.36	-42.69	17.26	18.82
Operating Expenses	1,680	1,494	1,005	769.39	976.38	955.28
Operating Income	1,303	982.57	623.23	455.9	490.31	469.27
Interest Expense	-7.54	-7.54	-12.5	-11.53	-14.52	-6.88
Interest & Investment Income	55.96	55.96	95.25	136.38	94.1	77.66
Earnings From Equity Investments	2.19	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)	-31.02	-7.83	-3.49	-2.34	-2.59	-3.9
EBT Excluding Unusual Items	1,285	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	0.82	0.75	-0.01	0.03	-1.31	0.4
Asset Writedown	-28.59	-0.38	-2.02	-2.25	-0.69	-0.93
Other Unusual Items	36.03	36.03	38.46	68.35	79.91	117.09
Pretax Income	1,294	1,026	720.86	677.09	684.89	620.03
Income Tax Expense	141.17	94.3	64.69	57.96	71.31	54.27
Earnings From Continuing Operations	1,153	931.86	656.16	619.13	613.58	565.76
Minority Interest in Earnings	3.62	14.46	5.15	-0.06	-5.17	1.51
Net Income	1,156	946.32	661.32	619.08	608.41	567.27
Net Income to Common	1,156	946.32	661.32	619.08	608.41	567.27
Net Income Growth	40.03%	43.10%	6.82%	1.75%	7.25%	16.39%
Shares Outstanding (Basic)	785	782	778	746	676	667
Shares Outstanding (Diluted)	797	789	787	784	699	667
Shares Change	1.00%	0.17%	0.46%	12.06%	4.79%	-0.04%
EPS (Basic)	1.47	1.21	0.85	0.83	0.90	0.85
EPS (Diluted)	1.45	1.20	0.84	0.79	0.87	0.85
EPS Growth	38.65%	42.86%	6.33%	-9.20%	2.35%	16.44%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	-603.49	802.48	-1,348	379.84	211.11	326.41
Free Cash Flow Per Share	-0.76	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%	0%	0%
Gross Margin	22.44%	20.76%	19.68%	20.22%	21.22%	21.96%
Operating Margin	9.80%	8.24%	7.53%	7.52%	7.09%	7.23%
Profit Margin	8.70%	7.93%	7.99%	10.21%	8.80%	8.75%
Free Cash Flow Margin	-4.54%	6.73%	-16.29%	6.27%	3.05%	5.03%
EBITDA	1,747	1,403	913.48	749.93	784.42	733.36
EBITDA Margin	13.14%	11.76%	11.04%	12.37%	11.35%	11.31%
D&A For EBITDA	444.08	420.68	290.24	294.03	294.11	264.09
EBIT	1,303	982.57	623.23	455.9	490.31	469.27
EBIT Margin	9.80%	8.24%	7.53%	7.52%	7.09%	7.23%
Effective Tax Rate	10.91%	9.19%	8.97%	8.56%	10.41%	8.75%
Revenue as Reported	11,929	11,929	8,272	6,061	6,912	6,486
Advertising Expenses	-	6.83	5.17	4.64	4.54	2.83