SHE:002422 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	17,734	17,864	21,107	20,714	18,601	16,936
Other Revenue	648.53	648.53	705.65	739.64	437.62	341.23
Revenue	18,382	18,513	21,812	21,454	19,038	17,277
Revenue Growth (YoY)	-8.01%	-15.13%	1.67%	12.69%	10.19%	4.94%
Cost of Revenue	9,843	9,767	10,613	10,291	9,084	7,993
Gross Profit	8,539	8,746	11,200	11,163	9,954	9,284
Selling, General & Admin	4,305	4,246	4,801	5,592	5,657	5,877
Research & Development	2,307	2,205	2,171	1,944	1,795	1,737
Other Operating Expenses	236.55	154.79	110.88	184.61	192.45	150.4
Operating Expenses	6,891	6,641	7,156	7,756	7,694	7,800
Operating Income	1,648	2,105	4,044	3,407	2,260	1,484
Interest Expense	-99.43	-102.84	-151.62	-361.54	-475.22	-518.34
Interest & Investment Income	294.25	291.83	416.62	462.47	278.81	244.03
Currency Exchange Gain (Loss)	-45.57	-45.57	16.89	33.36	-41.86	-2.31
Other Non Operating Income (Expenses)	95.64	2.32	-170.39	-18.95	-143.9	-21.84
EBT Excluding Unusual Items	1,893	2,251	4,155	3,522	1,878	1,186
Impairment of Goodwill	-2.41	-2.41	-	-	-	-
Gain (Loss) on Sale of Investments	27.18	27.61	19.9	14.67	9.86	4.83
Gain (Loss) on Sale of Assets	5.88	5.32	0.81	2.63	5.4	-7.94
Asset Writedown	-13.03	-13.03	-65.85	-58.62	-1.93	-13.2
Legal Settlements	73.41	73.41	-	-	-	-
Other Unusual Items	87.58	62.08	175.04	99.62	177	8.38
Pretax Income	2,072	2,404	4,285	3,580	2,068	1,178
Income Tax Expense	381.38	526.62	923.4	933.79	363.7	309.5
Earnings From Continuing Operations	1,690	1,877	3,362	2,647	1,704	868.12
Minority Interest in Earnings	-118.93	-175.28	-426.06	-190.53	1.1	234.44
Net Income	1,571	1,702	2,936	2,456	1,705	1,103
Net Income to Common	1,571	1,702	2,936	2,456	1,705	1,103
Net Income Growth	-36.99%	-42.03%	19.53%	44.03%	54.67%	32.94%
Shares Outstanding (Basic)	1,587	1,591	1,578	1,453	1,398	1,414
Shares Outstanding (Diluted)	1,587	1,591	1,578	1,545	1,483	1,414
Shares Change (YoY)	-0.21%	0.77%	2.18%	4.17%	4.91%	-1.15%
EPS (Basic)	0.99	1.07	1.86	1.69	1.22	0.78
EPS (Diluted)	0.99	1.07	1.86	1.59	1.15	0.78
EPS Growth	-36.86%	-42.47%	16.98%	38.26%	47.44%	34.48%
Free Cash Flow	820.42	1,020	2,815	3,568	2,230	1,857
Free Cash Flow Per Share	0.52	0.64	1.78	2.31	1.50	1.31
Dividend Per Share	0.594	0.594	0.763	0.800	0.616	0.426
Dividend Growth	-22.15%	-22.15%	-4.63%	29.87%	44.60%	33.63%
Gross Margin	46.45%	47.24%	51.35%	52.03%	52.29%	53.74%
Operating Margin	8.97%	11.37%	18.54%	15.88%	11.87%	8.59%
Profit Margin	8.55%	9.19%	13.46%	11.45%	8.96%	6.38%
Free Cash Flow Margin	4.46%	5.51%	12.90%	16.63%	11.71%	10.75%
EBITDA	2,962	3,397	5,249	4,596	3,416	2,690
EBITDA Margin	16.11%	18.35%	24.06%	21.42%	17.94%	15.57%
D&A For EBITDA	1,314	1,292	1,205	1,189	1,156	1,206
EBIT	1,648	2,105	4,044	3,407	2,260	1,484
EBIT Margin	8.97%	11.37%	18.54%	15.88%	11.87%	8.59%
Effective Tax Rate	18.41%	21.91%	21.55%	26.08%	17.59%	26.28%
Revenue as Reported	18,382	18,513	21,812	21,454	19,038	17,277
Advertising Expenses	-	25.09	145.44	265.58	129.59	161.8

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