Shennan Circuits 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	Jan '22 Jan 1, 2022
Operating Revenue	22,328	17,040	12,923	13,483	13,420
Other Revenue	1,319	867.04	603.13	509.28	522.76
Revenue	23,647	17,907	13,526	13,992	13,943
Revenue Growth (YoY)	32.05%	32.39%	-3.33%	0.36%	20.19%
Cost of Revenue	17,254	13,664	10,523	10,597	10,789
Gross Profit	6,393	4,244	3,003	3,396	3,154
Selling, General & Admin	1,361	1,002	853.85	911.55	759.68
Research & Development	1,591	1,270	1,065	818.07	782.42
Other Operating Expenses	-222.44	-4.02	75.67	86.69	86.16
Operating Expenses	2,816	2,314	2,028	1,842	1,669
Operating Income	3,577	1,930	975.34	1,554	1,485
Interest Expense	-77.6	-79.99	-65.94	-92.01	-90.56
Interest & Investment Income	19.34	14.33	12.98	43.08	14.5
Currency Exchange Gain (Loss)	18.81	27.41	28.95	80.69	-16.63
Other Non Operating Income (Expenses)	-6.04	-5.16	-6.26	-0.31	-4.51
EBT Excluding Unusual Items	3,531	1,887	945.06	1,585	1,388
Gain (Loss) on Sale of Investments	5	1.14	3.56	3.67	0.08
Gain (Loss) on Sale of Assets	-5.16	0.38	-2.25	-0.73	0.5
Asset Writedown	-76.16	-23.21	-12.95	-8.84	-20.97
Other Unusual Items	169.04	158.47	464.85	141.39	241.65
Pretax Income	3,624	2,023	1,398	1,720	1,609
Income Tax Expense	345.29	144.64	0.65	78.98	128.4
Earnings From Continuing Operations	3,279	1,879	1,398	1,641	1,481
Minority Interest in Earnings	-2.78	-1.16	0.49	-0.25	-0.21
Net Income	3,276	1,878	1,398	1,641	1,481
Net Income to Common	3,276	1,878	1,398	1,641	1,481
Net Income Growth	74.47%	34.29%	-14.81%	10.85%	3.53%
Shares Outstanding (Basic)	667	667	666	663	637
Shares Outstanding (Diluted)	667	667	666	663	639
Shares Change (YoY)	0.04%	0.17%	0.47%	3.62%	2.50%
EPS (Basic)	4.91	2.82	2.10	2.48	2.32
EPS (Diluted)	4.91	2.82	2.10	2.48	2.32
EPS Growth	74.40%	34.07%	-15.22%	6.98%	1.01%
Free Cash Flow	72.91	455.76	-660.41	-197.91	-316.51
Free Cash Flow Per Share	0.11	0.68	-0.99	-0.30	-0.49
Dividend Per Share	2.400	1.154	0.692	0.769	0.731
Dividend Growth	108.01%	66.66%	-10.00%	5.25%	-
Gross Margin	27.03%	23.70%	22.20%	24.27%	22.62%
Operating Margin	15.13%	10.78%	7.21%	11.10%	10.65%
Profit Margin	13.85%	10.48%	10.34%	11.73%	10.62%
Free Cash Flow Margin	0.31%	2.54%	-4.88%	-1.41%	-2.27%
EBITDA	5,178	3,377	2,188	2,557	2,282
EBITDA Margin	21.90%	18.86%	16.18%	18.27%	16.37%
D&A For EBITDA	1,601	1,447	1,213	1,003	797.19
EBIT	3,577	1,930	975.34	1,554	1,485
EBIT Margin	15.13%	10.78%	7.21%	11.10%	10.65%
Effective Tax Rate	9.53%	7.15%	0.05%	4.59%	7.98%
Revenue as Reported	23,647	17,907	13,526	13,992	13,943

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