SHE:300321 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	397.94	356.82	299.17	442.98	494.98
Other Revenue	-	16.59	30.07	21.4	25.09
Revenue	397.94	373.41	329.24	464.37	520.07
Revenue Growth (YoY)	6.57%	13.41%	-29.10%	-10.71%	27.19%
Cost of Revenue	338.09	328.35	310.52	420.12	461.76
Gross Profit	59.85	45.05	18.72	44.25	58.31
Selling, General & Admin	26.76	25.11	21.51	22.75	29.72
Research & Development	16.26	15.84	13.34	17.45	17.2
Other Operating Expenses	1.22	3.54	5.51	4.44	4.37
Operating Expenses	44.24	46.15	40.77	44.75	51.34
Operating Income	15.61	-1.1	-22.05	-0.5	6.96
Interest Expense	-	-	-0	-0.07	-0.08
Interest & Investment Income	0.26	4.8	5.42	3.67	5.3
Currency Exchange Gain (Loss)	-	1.38	0.58	4.59	-1.56
Other Non Operating Income (Expenses)	0.71	-0.21	-2.01	-0.28	-0.32
EBT Excluding Unusual Items	16.58	4.87	-18.05	7.41	10.3
Gain (Loss) on Sale of Assets	0.06	-0.05	8.09	0.65	-0.09
Asset Writedown	-5.32	-	-	-	-10.88
Other Unusual Items	-	2.42	2.52	3.58	2.59
Pretax Income	11.32	7.24	-7.45	11.63	1.93
Income Tax Expense	0.1	-1.16	0.48	0.24	-1.25
Net Income	11.22	8.4	-7.93	11.39	3.17
Net Income to Common	11.22	8.4	-7.93	11.39	3.17
Net Income Growth	33.58%	-	-	258.89%	-84.36%
Shares Outstanding (Basic)	89	89	89	89	89
Shares Outstanding (Diluted)	89	89	89	89	89
Shares Change (YoY)	-0.03%	-0.06%	0.03%	-0.06%	0.09%
EPS (Basic)	0.13	0.09	-0.09	0.13	0.04
EPS (Diluted)	0.13	0.09	-0.09	0.13	0.04
EPS Growth	33.62%	-	-	259.10%	-84.37%
Free Cash Flow	6.98	-29.05	30.32	-8.69	36.87
Free Cash Flow Per Share	0.08	-0.33	0.34	-0.10	0.41
Dividend Per Share	-	0.043	-	0.035	0.032
Dividend Growth	-	-	-	9.38%	-84.00%
Gross Margin	15.04%	12.07%	5.69%	9.53%	11.21%
Operating Margin	3.92%	-0.29%	-6.70%	-0.11%	1.34%
Profit Margin	2.82%	2.25%	-2.41%	2.45%	0.61%
Free Cash Flow Margin	1.75%	-7.78%	9.21%	-1.87%	7.09%
EBITDA	36.83	23.33	10.14	36.65	43.64
EBITDA Margin	9.25%	6.25%	3.08%	7.89%	8.39%
D&A For EBITDA	21.22	24.44	32.19	37.14	36.68
EBIT	15.61	-1.1	-22.05	-0.5	6.96
EBIT Margin	3.92%	-0.29%	-6.70%	-0.11%	1.34%
Effective Tax Rate	0.90%	-	-	2.10%	-
Revenue as Reported	-	373.41	329.24	464.37	520.07
Advertising Expenses	-	0.02	0.02	0.01	0.04

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