SHE:003039 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	2,194	2,156	1,801	1,421	1,287	1,311
Other Revenue	72.57	72.57	38.05	35.03	32.34	27.45
Revenue	2,266	2,228	1,839	1,456	1,320	1,338
Revenue Growth (YoY)	17.33%	21.18%	26.33%	10.30%	-1.38%	8.42%
Selling, General & Admin	258.13	251.44	210.11	170.65	153.04	157.45
Provision for Bad Debts	-12.33	13.13	56.43	9.38	-4.14	8.58
Other Operating Expenses	1,337	1,303	1,008	823.79	725.91	696.41
Total Operating Expenses	1,639	1,625	1,323	1,027	899.83	873.84
Operating Income	627.93	603.58	515.4	428.16	419.8	464.28
Interest Expense	-74.98	-75.5	-55.26	-25.83	-28.86	-35.89
Interest Income	14.72	15.09	10.7	22.99	21	15.51
Net Interest Expense	-60.26	-60.41	-44.56	-2.84	-7.86	-20.38
Currency Exchange Gain (Loss)	0.01	0.01	0.01	-	-	-
Other Non-Operating Income (Expenses)	-0.29	3.06	8.27	-7.21	0.79	-3.76
EBT Excluding Unusual Items	567	546.23	479.12	418.11	412.74	440.14
Gain (Loss) on Sale of Investments	-6.8	-6.8	-	-	-	-
Gain (Loss) on Sale of Assets	1.27	1.21	-0.34	0.32	0.58	-0.01
Asset Writedown	-2.97	0.04	-0.1	-	-3.06	-4.46
Other Unusual Items	-8.31	-8.31	1.72	1.53	2.21	3.38
Pretax Income	550.2	532.38	480.4	419.96	412.46	439.05
Income Tax Expense	105.41	100.89	87.14	77.32	82.04	71.96
Earnings From Continuing Ops.	444.79	431.49	393.26	342.64	330.42	367.09
Net Income to Company	444.79	431.49	393.26	342.64	330.42	367.09
Minority Interest in Earnings	-128.29	-127.65	-125.31	-99.09	-91.86	-93.74
Net Income	316.5	303.84	267.95	243.55	238.56	273.35
Net Income to Common	316.5	303.84	267.95	243.55	238.56	273.35
Net Income Growth	17.26%	13.40%	10.02%	2.09%	-12.73%	2.02%
Shares Outstanding (Basic)	618	618	618	618	618	607
Shares Outstanding (Diluted)	618	618	618	618	618	607
Shares Change (YoY)	0.01%	0.01%	0.00%	-0.11%	1.77%	8.82%
EPS (Basic)	0.51	0.49	0.43	0.39	0.39	0.45
EPS (Diluted)	0.51	0.49	0.43	0.39	0.39	0.45
EPS Growth	17.25%	13.39%	10.02%	2.20%	-14.24%	-6.25%
Free Cash Flow	28.05	-19.41	-43.53	262.76	240.37	133.85
Free Cash Flow Per Share	0.04	-0.03	-0.07	0.43	0.39	0.22
Dividend Per Share	0.231	0.231	0.210	0.173	0.111	0.127
Dividend Growth	10.00%	10.00%	21.39%	55.86%	-12.60%	2.42%
Profit Margin	13.96%	13.63%	14.57%	16.73%	18.08%	20.43%
Free Cash Flow Margin	1.24%	-0.87%	-2.37%	18.05%	18.21%	10.00%
EBITDA	1,017	981.47	849.42	661.84	633.85	668.62
EBITDA Margin	44.86%	44.05%	46.19%	45.47%	48.03%	49.97%
D&A For EBITDA	388.85	377.88	334.02	233.68	214.05	204.34
EBIT	627.93	603.58	515.4	428.16	419.8	464.28
EBIT Margin	27.71%	27.09%	28.03%	29.42%	31.81%	34.70%
Effective Tax Rate	19.16%	18.95%	18.14%	18.41%	19.89%	16.39%
Revenue as Reported	2,266	2,228	1,839	1,456	1,320	1,338

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