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	3,940	3,449	2,806	2,088	1,802	1,748
Other Revenue	67.33	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	2,887	2,476	1,875	1,421	1,099	931.43
Gross Profit	1,120	1,018	969.82	685.66	724.41	841.37
Selling, General & Admin	289.98	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	-1.94	-8.01	-31.29	-3.05	12.31	13.64
Operating Expenses	523.75	471.21	439.11	471.87	401.52	315.3
Operating Income	596.51	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	6.66	3.42	6.08	7.97	11.29	23.29
Currency Exchange Gain (Loss)	-3.2	-1.89	-0.07	-0.18	-17.78	-4.9
Other Non Operating Income (Expenses)	6.45	4.33	4.08	-0.89	-2.57	-2.34
EBT Excluding Unusual Items	606.42	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	-19.34	-19.34	-0.09	-	-	-
Other Unusual Items	3.98	-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	27.95%	29.13%	34.09%	32.55%	39.73%	47.46%
Operating Margin	14.89%	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	1,488	1,345	1,133	603.88	515.14	650.14
EBITDA Margin	37.13%	38.50%	39.83%	28.67%	28.25%	36.67%
D&A For EBITDA	891.67	798.79	602.42	390.09	192.25	124.07
EBIT	596.51	546.56	530.71	213.79	322.89	526.07
EBIT Margin	14.89%	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	4,008	3,494	2,845	2,106	1,824	1,773
Advertising Expenses	-	9.76	11.3	12.27	10.73	6.99