SHE:002451 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	Dec '21 Dec 31, 2021
Operating Revenue	1,496	1,238	1,062	1,051	1,131
Other Revenue	79.73	105.96	26.16	27.06	10.99
Revenue	1,576	1,344	1,089	1,078	1,142
Revenue Growth (YoY)	17.19%	23.50%	0.94%	-5.59%	151.46%
Cost of Revenue	1,432	1,228	963.11	942.54	1,015
Gross Profit	143.42	116.83	125.48	135.94	127.6
Selling, General & Admin	49.82	48.17	53.3	46.2	56.63
Research & Development	47.13	42.34	34.8	33.27	34.41
Other Operating Expenses	-5.07	-10.89	0.28	3	1.39
Operating Expenses	94.16	84.14	96.64	90.83	99.52
Operating Income	49.26	32.69	28.84	45.12	28.08
Interest Expense	-27.29	-21.42	-23.75	-23.72	-17.26
Interest & Investment Income	0.95	4.28	3.41	3.68	4.57
Currency Exchange Gain (Loss)	-0.51	0.34	0.02	0.01	-0.04
Other Non Operating Income (Expenses)	0.88	-4.4	1.28	-7.11	-4.54
EBT Excluding Unusual Items	23.29	11.48	9.79	17.97	10.82
Gain (Loss) on Sale of Investments	-	0.29	-	-	-0.61
Gain (Loss) on Sale of Assets	3.29	-	0.58	-	-
Asset Writedown	-0	-	-0.01	-0	-0
Other Unusual Items	1.4	8.74	9.12	5.34	4.1
Pretax Income	27.98	20.52	19.48	23.31	14.31
Income Tax Expense	2.14	-0.89	1.42	5.83	-1.06
Earnings From Continuing Operations	25.84	21.41	18.06	17.48	15.37
Minority Interest in Earnings	-15.26	-3.54	-1.89	-2.81	-2.52
Net Income	10.58	17.87	16.16	14.67	12.85
Net Income to Common	10.58	17.87	16.16	14.67	12.85
Net Income Growth	-40.79%	10.57%	10.20%	14.15%	72.21%
Shares Outstanding (Basic)	439	447	404	489	428
Shares Outstanding (Diluted)	439	447	404	489	428
Shares Change (YoY)	-1.73%	10.57%	-17.35%	14.15%	14.80%
EPS (Basic)	0.02	0.04	0.04	0.03	0.03
EPS (Diluted)	0.02	0.04	0.04	0.03	0.03
EPS Growth	-39.75%	-	33.33%	-	50.00%
Free Cash Flow	-80.26	-74.4	110.38	-123.62	-419.85
Free Cash Flow Per Share	-0.18	-0.17	0.27	-0.25	-0.98
Dividend Per Share	0.010	0.010	0.010	-	-
Gross Margin	9.10%	8.69%	11.53%	12.61%	11.17%
Operating Margin	3.13%	2.43%	2.65%	4.18%	2.46%
Profit Margin	0.67%	1.33%	1.49%	1.36%	1.13%
Free Cash Flow Margin	-5.09%	-5.53%	10.14%	-11.46%	-36.75%
EBITDA	90.18	75.18	66.9	82.35	66.29
EBITDA Margin	5.72%	5.59%	6.14%	7.64%	5.80%
D&A For EBITDA	40.91	42.49	38.05	37.24	38.21
EBIT	49.26	32.69	28.84	45.12	28.08
EBIT Margin	3.13%	2.43%	2.65%	4.18%	2.46%
Effective Tax Rate	7.65%	-	7.31%	25.02%	-
Revenue as Reported	1,576	1,344	1,089	1,078	1,142

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