SHE:002761 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	78,569	79,792	79,420	91,252	97,534	94,278
Other Revenue	1,316	1,316	1,223	1,354	1,001	1,057
Revenue	79,885	81,108	80,644	92,606	98,535	95,335
Revenue Growth (YoY)	-2.18%	0.58%	-12.92%	-6.02%	3.36%	19.84%
Cost of Revenue	75,765	76,996	76,764	88,269	93,488	90,391
Gross Profit	4,120	4,112	3,880	4,337	5,048	4,944
Selling, General & Admin	1,773	1,754	1,798	1,937	1,828	1,717
Research & Development	857.6	847.43	774.38	747.98	526.61	336.04
Other Operating Expenses	217.17	220.23	254.86	233.81	248.12	247.45
Operating Expenses	3,775	3,748	3,649	3,931	4,040	3,740
Operating Income	345.63	364.28	230.85	405.87	1,008	1,204
Interest Expense	-684.82	-684.82	-910.24	-952.01	-1,037	-1,041
Interest & Investment Income	1,074	1,075	1,330	1,314	1,239	1,184
Currency Exchange Gain (Loss)	25.53	25.53	7.11	7.66	-12.78	-7.69
Other Non Operating Income (Expenses)	-168.29	-146.96	-103.3	-26.08	27.1	-35.39
EBT Excluding Unusual Items	600.57	633.49	554.37	749.42	1,224	1,303
Impairment of Goodwill	-3.4	-3.4	-10.31	-	-11.11	-11.72
Gain (Loss) on Sale of Investments	-41.75	-41.75	-	-19.93	-45.69	-
Gain (Loss) on Sale of Assets	71.98	60.69	110.75	28.19	384.39	59.55
Asset Writedown	3.95	2.67	8.38	8.47	11.34	-48.18
Legal Settlements	13.78	-13.78	-8.59	-2.49	-3.85	-0.99
Other Unusual Items	9.61	9.61	-39.08	100.56	73.71	321.9
Pretax Income	654.75	647.52	615.52	864.23	1,634	1,624
Income Tax Expense	229.92	246.46	258.22	261.4	424.79	356
Earnings From Continuing Operations	424.84	401.07	357.3	602.82	1,209	1,268
Minority Interest in Earnings	-144.9	-186.53	-164.04	-211.11	-241.49	-221.6
Net Income	279.94	214.54	193.26	391.71	967.39	1,046
Net Income to Common	279.94	214.54	193.26	391.71	967.39	1,046
Net Income Growth	29.10%	11.01%	-50.66%	-59.51%	-7.55%	-2.67%
Shares Outstanding (Basic)	1,137	1,082	1,611	1,451	1,138	1,137
Shares Outstanding (Diluted)	1,137	1,082	1,611	1,451	1,138	1,137
Shares Change (YoY)	-29.39%	-32.83%	11.01%	27.47%	0.06%	0.51%
EPS (Basic)	0.25	0.20	0.12	0.27	0.85	0.92
EPS (Diluted)	0.18	0.13	0.12	0.27	0.85	0.92
EPS Growth	34.56%	8.33%	-55.56%	-68.23%	-7.61%	-3.16%
Free Cash Flow	2,241	3,421	1,974	1,478	2,730	-1,137
Free Cash Flow Per Share	1.97	3.16	1.23	1.02	2.40	-1.00
Dividend Per Share	0.050	0.050	0.050	0.050	0.200	0.200
Dividend Growth	-	-	-	-75.00%	-	-
Gross Margin	5.16%	5.07%	4.81%	4.68%	5.12%	5.19%
Operating Margin	0.43%	0.45%	0.29%	0.44%	1.02%	1.26%
Profit Margin	0.35%	0.27%	0.24%	0.42%	0.98%	1.10%
Free Cash Flow Margin	2.80%	4.22%	2.45%	1.60%	2.77%	-1.19%
EBITDA	706.15	715.86	546.68	739.71	1,290	1,527
EBITDA Margin	0.88%	0.88%	0.68%	0.80%	1.31%	1.60%
D&A For EBITDA	360.52	351.58	315.83	333.83	282.41	323.71
EBIT	345.63	364.28	230.85	405.87	1,008	1,204
EBIT Margin	0.43%	0.45%	0.29%	0.44%	1.02%	1.26%
Effective Tax Rate	35.12%	38.06%	41.95%	30.25%	26.00%	21.92%
Revenue as Reported	81,108	81,108	80,644	92,606	98,535	95,335
Advertising Expenses	-	3.51	0.63	0.42	0.27	0.23

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