SHE:301108 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	831.39	762.82	539.42	592.39	648.31	970.23
Other Revenue	9.19	9.19	8.03	30.2	18.25	14.22
Revenue	840.58	772.01	547.45	622.59	666.56	984.45
Revenue Growth (YoY)	55.24%	41.02%	-12.07%	-6.60%	-32.29%	32.50%
Cost of Revenue	629.83	584.88	448.21	442.27	461.97	667.87
Gross Profit	210.75	187.13	99.24	180.32	204.59	316.58
Selling, General & Admin	75.28	65.18	51.46	55.68	38.91	29.1
Research & Development	29.89	28.19	20.48	22.52	25.29	36.38
Other Operating Expenses	-1.15	1.08	0.56	0.72	4.86	7.13
Operating Expenses	113.91	104.34	80.62	77.69	69.84	73.28
Operating Income	96.84	82.79	18.63	102.63	134.75	243.31
Interest Expense	-1.39	-1.39	-0.77	-1.01	-1.86	-1.62
Interest & Investment Income	18.82	18.96	15.17	30.38	24.6	6.05
Currency Exchange Gain (Loss)	-7.52	-7.52	2.51	1.22	6.2	-6.89
Other Non Operating Income (Expenses)	-14.13	-3.51	0.78	-0.23	-0.16	-0.24
EBT Excluding Unusual Items	92.62	89.32	36.32	133	163.52	240.61
Gain (Loss) on Sale of Investments	5.37	5.35	5.5	9.06	1.01	1.2
Gain (Loss) on Sale of Assets	0.2	0.36	-0.03	0.32	1.15	0.29
Asset Writedown	-13.38	-10.55	-17.49	-10.51	-11.46	-0.42
Other Unusual Items	2.1	2.1	0.85	3.13	7.95	10.18
Pretax Income	86.89	86.58	25.15	135.01	162.16	251.85
Income Tax Expense	9.27	9.18	5.97	20.46	21.2	31.81
Earnings From Continuing Operations	77.62	77.4	19.17	114.54	140.97	220.05
Minority Interest in Earnings	-0.15	-0.13	0.29	0.66	-	-
Net Income	77.48	77.27	19.46	115.2	140.97	220.05
Net Income to Common	77.48	77.27	19.46	115.2	140.97	220.05
Net Income Growth	395.82%	296.97%	-83.10%	-18.28%	-35.94%	22.50%
Shares Outstanding (Basic)	123	114	114	114	113	88
Shares Outstanding (Diluted)	123	114	114	114	113	88
Shares Change (YoY)	16.71%	-0.76%	0.81%	0.14%	29.59%	2.66%
EPS (Basic)	0.63	0.68	0.17	1.01	1.24	2.51
EPS (Diluted)	0.63	0.68	0.17	1.01	1.24	2.51
EPS Growth	324.83%	300.00%	-83.24%	-18.39%	-50.57%	19.32%
Free Cash Flow	-203.31	-268.78	-21.11	-1.54	269.1	127.59
Free Cash Flow Per Share	-1.66	-2.37	-0.18	-0.01	2.37	1.46
Dividend Per Share	0.250	0.250	0.100	0.257	0.357	0.536
Dividend Growth	150.00%	150.00%	-61.10%	-28.00%	-33.34%	-
Gross Margin	25.07%	24.24%	18.13%	28.96%	30.69%	32.16%
Operating Margin	11.52%	10.72%	3.40%	16.48%	20.21%	24.71%
Profit Margin	9.22%	10.01%	3.56%	18.50%	21.15%	22.35%
Free Cash Flow Margin	-24.19%	-34.82%	-3.86%	-0.25%	40.37%	12.96%
EBITDA	137.38	124.06	62.83	134.32	169.16	271.94
EBITDA Margin	16.34%	16.07%	11.48%	21.57%	25.38%	27.62%
D&A For EBITDA	40.54	41.28	44.2	31.69	34.41	28.63
EBIT	96.84	82.79	18.63	102.63	134.75	243.31
EBIT Margin	11.52%	10.72%	3.40%	16.48%	20.21%	24.71%
Effective Tax Rate	10.67%	10.60%	23.75%	15.16%	13.07%	12.63%
Revenue as Reported	772.01	772.01	547.45	622.59	666.56	984.45
Advertising Expenses	-	0.08	0.06	0.4	0.18	0.05

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