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	Jun '26 Jun 30, 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	3,985	3,449	2,806	2,088	1,802	1,748
Other Revenue	22.75	45.49	38.79	18.38	21.3	24.53
Revenue	4,008	3,494	2,845	2,106	1,824	1,773
Revenue Growth	25.92%	22.83%	35.05%	15.51%	2.86%	75.37%
Cost of Revenue	2,872	2,476	1,875	1,421	1,099	931.43
Gross Profit	1,135	1,018	969.82	685.66	724.41	841.37
Selling, General & Admin	291.89	267.22	194.43	218.55	170.58	171.02
Research & Development	227.23	201.64	271.87	257.2	212.94	131.61
Other Operating Expenses	-9.92	-8.01	-31.29	-3.05	12.31	13.64
Operating Expenses	514.62	471.21	439.11	471.87	401.52	315.3
Operating Income	620.59	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	15.21	3.42	6.08	7.97	11.29	23.29
Currency Exchange Gain (Loss)	-0.98	-1.89	-0.07	-0.18	-17.78	-4.9
Other Non Operating Income (Expenses)	-11.16	4.33	4.08	-0.89	-2.57	-2.34
EBT Excluding Unusual Items	623.65	552.06	540.54	189.23	298.52	541.01
Gain (Loss) on Sale of Investments	-0.28	0.02	-1.89	-4.66	-6.45	7.93
Gain (Loss) on Sale of Assets	-3.13	0.33	35	0.45	36.97	0.85
Asset Writedown	-32.38	-19.34	-0.09	-	-	-
Other Unusual Items	-0.21	-0.18	34.88	22.55	42.94	19.4
Pretax Income	587.65	532.89	608.45	207.57	371.97	569.19
Income Tax Expense	62.16	57.05	110.37	3.55	16.48	76.69
Earnings From Continuing Operations	525.49	475.85	498.08	204.02	355.49	492.49
Minority Interest in Earnings	2.08	0.84	-25.04	15.11	3.96	4.56
Net Income	527.57	476.69	473.04	219.13	359.45	497.06
Net Income to Common	527.57	476.69	473.04	219.13	359.45	497.06
Net Income Growth	4.29%	0.77%	115.87%	-39.04%	-27.68%	75.34%
Shares Outstanding (Basic)	838	836	751	730	734	731
Shares Outstanding (Diluted)	838	836	788	783	781	777
Shares Change	2.53%	6.08%	0.74%	0.15%	0.61%	6.85%
EPS (Basic)	0.63	0.57	0.63	0.30	0.49	0.68
EPS (Diluted)	0.63	0.57	0.60	0.28	0.46	0.64
EPS Growth	1.71%	-5.00%	114.29%	-39.13%	-28.13%	64.10%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Free Cash Flow	387.5	98.1	107.74	-256.51	-1,752	-1,088
Free Cash Flow Per Share	0.46	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	0%	0%	158.62%	-38.95%	-24.60%	18.09%
Gross Margin	28.33%	29.13%	34.09%	32.55%	39.73%	47.46%
Operating Margin	15.49%	15.64%	18.66%	10.15%	17.71%	29.67%
Profit Margin	13.16%	13.64%	16.63%	10.40%	19.71%	28.04%
Free Cash Flow Margin	9.67%	2.81%	3.79%	-12.18%	-96.06%	-61.35%
EBITDA	1,525	1,345	1,133	603.88	515.14	650.14
EBITDA Margin	38.06%	38.50%	39.83%	28.67%	28.25%	36.67%
D&A For EBITDA	904.69	798.79	602.42	390.09	192.25	124.07
EBIT	620.59	546.56	530.71	213.79	322.89	526.07
EBIT Margin	15.49%	15.64%	18.66%	10.15%	17.71%	29.67%
Effective Tax Rate	10.58%	10.71%	18.14%	1.71%	4.43%	13.47%
Revenue as Reported	1,894	3,494	2,845	2,106	1,824	1,773
Advertising Expenses	-	9.76	11.3	12.27	10.73	6.99