SHE:300623 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	3,668	3,449	2,806	2,088	1,802	1,748
Other Revenue	45.49	45.49	38.79	18.38	21.3	24.53
Revenue	3,714	3,494	2,845	2,106	1,824	1,773
Revenue Growth (YoY)	22.77%	22.83%	35.05%	15.51%	2.86%	75.37%
Cost of Revenue	2,720	2,476	1,875	1,421	1,099	931.43
Gross Profit	993.84	1,018	969.82	685.66	724.41	841.37
Selling, General & Admin	266.19	267.22	194.43	218.55	170.58	171.02
Research & Development	198.52	201.64	271.87	257.2	212.94	131.61
Other Operating Expenses	-8.1	-8.01	-31.29	-3.05	12.31	13.64
Operating Expenses	465.16	471.21	439.11	471.87	401.52	315.3
Operating Income	528.67	546.56	530.71	213.79	322.89	526.07
Interest Expense	-	-0.36	-0.25	-31.46	-15.31	-1.11
Interest & Investment Income	4.62	3.42	6.08	7.97	11.29	23.29
Currency Exchange Gain (Loss)	-1.89	-1.89	-0.07	-0.18	-17.78	-4.9
Other Non Operating Income (Expenses)	4.41	4.33	4.08	-0.89	-2.57	-2.34
EBT Excluding Unusual Items	535.82	552.06	540.54	189.23	298.52	541.01
Gain (Loss) on Sale of Investments	-0.02	0.02	-1.89	-4.66	-6.45	7.93
Gain (Loss) on Sale of Assets	0.34	0.33	35	0.45	36.97	0.85
Asset Writedown	-16.85	-19.34	-0.09	-	-	-
Other Unusual Items	2.48	-0.18	34.88	22.55	42.94	19.4
Pretax Income	521.77	532.89	608.45	207.57	371.97	569.19
Income Tax Expense	55.43	57.05	110.37	3.55	16.48	76.69
Earnings From Continuing Operations	466.34	475.85	498.08	204.02	355.49	492.49
Minority Interest in Earnings	-1.18	0.84	-25.04	15.11	3.96	4.56
Net Income	465.16	476.69	473.04	219.13	359.45	497.06
Net Income to Common	465.16	476.69	473.04	219.13	359.45	497.06
Net Income Growth	-5.62%	0.77%	115.87%	-39.04%	-27.68%	75.34%
Shares Outstanding (Basic)	830	836	751	730	734	731
Shares Outstanding (Diluted)	830	836	788	783	781	777
Shares Change (YoY)	2.27%	6.08%	0.74%	0.15%	0.61%	6.85%
EPS (Basic)	0.56	0.57	0.63	0.30	0.49	0.68
EPS (Diluted)	0.56	0.57	0.60	0.28	0.46	0.64
EPS Growth	-7.71%	-5.00%	114.29%	-39.13%	-28.13%	64.10%
Free Cash Flow	281.44	98.1	107.74	-256.51	-1,752	-1,088
Free Cash Flow Per Share	0.34	0.12	0.14	-0.33	-2.24	-1.40
Dividend Per Share	0.150	0.150	0.150	0.058	0.095	0.126
Dividend Growth	-	-	158.62%	-38.95%	-24.60%	18.09%
Gross Margin	26.76%	29.13%	34.09%	32.55%	39.73%	47.46%
Operating Margin	14.24%	15.64%	18.66%	10.15%	17.71%	29.67%
Profit Margin	12.53%	13.64%	16.63%	10.40%	19.71%	28.04%
Free Cash Flow Margin	7.58%	2.81%	3.79%	-12.18%	-96.06%	-61.35%
EBITDA	1,377	1,345	1,133	603.88	515.14	650.14
EBITDA Margin	37.06%	38.50%	39.83%	28.67%	28.25%	36.67%
D&A For EBITDA	847.89	798.79	602.42	390.09	192.25	124.07
EBIT	528.67	546.56	530.71	213.79	322.89	526.07
EBIT Margin	14.24%	15.64%	18.66%	10.15%	17.71%	29.67%
Effective Tax Rate	10.62%	10.71%	18.14%	1.71%	4.43%	13.47%
Revenue as Reported	3,714	3,494	2,845	2,106	1,824	1,773
Advertising Expenses	-	9.76	11.3	12.27	10.73	6.99

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