SHE:002688 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	2,915	2,860	2,366	2,168	2,117	2,072
Other Revenue	20.13	18.09	4.99	6.04	5.82	5.8
Revenue	2,936	2,878	2,371	2,174	2,123	2,078
Revenue Growth	8.92%	21.41%	9.04%	2.42%	2.15%	14.51%
Cost of Revenue	1,943	1,944	1,641	1,572	1,545	1,472
Gross Profit	992.09	934.59	729.97	602.51	577.47	605.66
Selling, General & Admin	533.12	502.09	401.98	367.95	352.78	316.37
Research & Development	112.15	116.55	94	74	82.28	72.25
Other Operating Expenses	25.73	13.3	8.14	5.82	7.75	12.15
Operating Expenses	677.02	635.51	518.11	454.08	444.34	402.65
Operating Income	315.07	299.09	211.85	148.43	133.13	203.01
Interest Expense	-86.38	-89.94	-80.34	-60.03	-36.41	-52.34
Interest & Investment Income	12.99	8.16	6.9	8.37	1.9	1.72
Currency Exchange Gain (Loss)	-22.89	-8.78	8.92	8.85	40.34	-8.83
Other Non Operating Income (Expenses)	-4.31	-3.55	-28.48	-7.33	-15.79	-4.87
EBT Excluding Unusual Items	214.48	204.97	118.85	98.29	123.18	138.68
Impairment of Goodwill	-174.99	-174.99	-39.77	-5.62	-7.74	-11.04
Gain (Loss) on Sale of Investments	-1.54	-2.4	-1.22	-1.52	-3.94	-
Gain (Loss) on Sale of Assets	-2.82	-2.66	0.19	-0.36	-0.25	4.87
Asset Writedown	-4.39	-3.82	-1.11	-0.93	-0.46	-1.28
Other Unusual Items	25.29	18.05	20.83	11.65	8.05	11.69
Pretax Income	56.02	39.15	97.78	101.5	118.84	142.91
Income Tax Expense	69.78	50.13	13.46	7.06	0.73	20.82
Earnings From Continuing Operations	-13.76	-10.98	84.32	94.43	118.11	122.09
Minority Interest in Earnings	34.29	38.54	15.88	-7.98	-42.5	-28.1
Net Income	20.53	27.56	100.2	86.46	75.62	93.99
Net Income to Common	20.53	27.56	100.2	86.46	75.62	93.99
Net Income Growth	-86.04%	-72.50%	15.90%	14.34%	-19.55%	-19.89%
Shares Outstanding (Basic)	780	781	774	780	780	696
Shares Outstanding (Diluted)	780	781	774	780	780	696
Shares Change	1.24%	0.81%	-0.76%	-0.01%	12.16%	6.74%
EPS (Basic)	0.03	0.04	0.13	0.11	0.10	0.14
EPS (Diluted)	0.03	0.04	0.13	0.11	0.10	0.14
EPS Growth	-86.21%	-72.72%	16.79%	14.34%	-28.27%	-24.94%

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	259.13	148.64	136.18	-258.45	-277.69	-230.74
Free Cash Flow Per Share	0.33	0.19	0.18	-0.33	-0.36	-0.33
Dividend Per Share	0.100	0.100	0.100	0.100	0.100	-
Dividend Growth	0%	0%	0%	0%	0%	-
Gross Margin	33.80%	32.47%	30.79%	27.71%	27.20%	29.15%
Operating Margin	10.73%	10.39%	8.94%	6.83%	6.27%	9.77%
Profit Margin	0.70%	0.96%	4.23%	3.98%	3.56%	4.52%
Free Cash Flow Margin	8.83%	5.17%	5.75%	-11.89%	-13.08%	-11.10%
EBITDA	553.72	528.74	397.33	321.3	282.31	333.98
EBITDA Margin	18.86%	18.37%	16.76%	14.78%	13.30%	16.07%
D&A For EBITDA	238.65	229.66	185.47	172.86	149.18	130.97
EBIT	315.07	299.09	211.85	148.43	133.13	203.01
EBIT Margin	10.73%	10.39%	8.94%	6.83%	6.27%	9.77%
Effective Tax Rate	124.56%	128.06%	13.77%	6.96%	0.61%	14.57%
Revenue as Reported	2,936	2,878	2,371	2,174	2,123	2,078
Advertising Expenses	-	34.64	27.74	20.64	12.16	5.36