SHE:002534 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	5,975	6,092	6,265	7,910	7,196	6,463
Other Revenue	148.92	148.92	171.69	169.02	147.98	114.65
Revenue	6,124	6,241	6,437	8,079	7,344	6,578
Revenue Growth (YoY)	-5.75%	-3.03%	-20.33%	10.02%	11.64%	22.83%
Cost of Revenue	4,954	5,068	5,247	6,872	6,237	5,181
Gross Profit	1,170	1,174	1,189	1,207	1,107	1,397
Selling, General & Admin	374.42	406.53	389.47	450.52	516.62	560.8
Research & Development	372.82	362.46	391.79	419.87	414.26	402.08
Other Operating Expenses	46.83	47.51	18.28	15.18	29.91	-31.82
Operating Expenses	784.26	839.83	948.31	1,032	1,066	945.73
Operating Income	385.75	333.8	241.04	175.27	40.21	451.31
Interest Expense	-37.39	-50.75	-91.93	-103.73	-82.47	-31.16
Interest & Investment Income	79.8	79.62	412.35	157.71	189.61	69.34
Currency Exchange Gain (Loss)	-14.07	-14.07	3.42	5.58	13.98	-0.4
Other Non Operating Income (Expenses)	1.22	-4.01	-4.86	-5.65	1.36	9.63
EBT Excluding Unusual Items	415.31	344.59	560.02	229.17	162.7	498.71
Impairment of Goodwill	-	-	-	-98.54	-20.41	-
Gain (Loss) on Sale of Investments	1.88	1.13	-10.31	-47.38	-0.29	4.24
Gain (Loss) on Sale of Assets	242.94	241.72	0.73	18.46	35.85	-0.05
Asset Writedown	-84.27	-8.9	-8.26	-32.37	26.34	1.78
Other Unusual Items	37.98	37.98	52.75	59.37	57.79	4.69
Pretax Income	613.84	616.53	594.93	128.72	261.98	509.36
Income Tax Expense	51.12	56.67	86.13	13.17	-0.48	38.99
Earnings From Continuing Operations	562.72	559.86	508.8	115.55	262.46	470.37
Minority Interest in Earnings	-119.62	-123.28	-69.01	-60.97	-58.6	-50.08
Net Income	443.1	436.58	439.79	54.58	203.85	420.29
Net Income to Common	443.1	436.58	439.79	54.58	203.85	420.29
Net Income Growth	87.94%	-0.73%	705.74%	-73.22%	-51.50%	-18.47%
Shares Outstanding (Basic)	789	766	733	780	728	725
Shares Outstanding (Diluted)	803	780	758	780	728	725
Shares Change (YoY)	4.84%	2.81%	-2.76%	7.10%	0.47%	-1.60%
EPS (Basic)	0.56	0.57	0.60	0.07	0.28	0.58
EPS (Diluted)	0.55	0.56	0.58	0.07	0.28	0.58
EPS Growth	79.26%	-3.45%	728.57%	-75.00%	-51.72%	-17.14%
Free Cash Flow	870.26	618.7	357.66	-114.78	-674.87	-153.44
Free Cash Flow Per Share	1.08	0.79	0.47	-0.15	-0.93	-0.21
Dividend Per Share	0.100	0.100	0.200	0.100	0.100	0.200
Dividend Growth	-50.00%	-50.00%	100.00%	-	-50.00%	-50.00%
Gross Margin	19.11%	18.80%	18.48%	14.94%	15.07%	21.24%
Operating Margin	6.30%	5.35%	3.74%	2.17%	0.55%	6.86%
Profit Margin	7.23%	7.00%	6.83%	0.68%	2.78%	6.39%
Free Cash Flow Margin	14.21%	9.91%	5.56%	-1.42%	-9.19%	-2.33%
EBITDA	510.81	468.54	414.53	345	170.64	557.44
EBITDA Margin	8.34%	7.51%	6.44%	4.27%	2.32%	8.47%
D&A For EBITDA	125.05	134.74	173.49	169.74	130.43	106.13
EBIT	385.75	333.8	241.04	175.27	40.21	451.31
EBIT Margin	6.30%	5.35%	3.74%	2.17%	0.55%	6.86%
Effective Tax Rate	8.33%	9.19%	14.48%	10.23%	-	7.65%
Revenue as Reported	6,124	6,241	6,437	8,079	7,344	6,578
Advertising Expenses	-	1.11	1.05	-	-	-

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