SHE:301128 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	2,005	1,806	1,119	670.62	454.61	418.26
Other Revenue	13.07	13.07	7.54	3.6	2.01	4.21
Revenue	2,018	1,819	1,127	674.22	456.62	422.47
Revenue Growth (YoY)	56.05%	61.46%	67.09%	47.65%	8.08%	0.55%
Cost of Revenue	1,482	1,378	811.18	489.75	325.41	276.12
Gross Profit	536.06	441.05	315.35	184.47	131.21	146.36
Selling, General & Admin	145.73	126.52	83.97	67.11	61.04	45.82
Research & Development	149.94	133.47	103.01	70.66	51.48	44.04
Other Operating Expenses	-4.18	-5.33	0.17	0.57	2.11	2.27
Operating Expenses	311.79	262.03	196.94	144.34	115.56	93.11
Operating Income	224.27	179.02	118.4	40.13	15.65	53.24
Interest Expense	-12.79	-10.26	-4.1	-2.89	-0.68	-0.57
Interest & Investment Income	4.62	5.12	6.89	9.1	11.25	3.62
Currency Exchange Gain (Loss)	-0.09	-0.09	0.2	0.26	-	-
Other Non Operating Income (Expenses)	-4.58	-0.66	-0.43	-0.3	0.46	-0.44
EBT Excluding Unusual Items	211.45	173.13	120.96	46.3	26.68	55.86
Gain (Loss) on Sale of Investments	0.34	0.84	0.58	7.7	0.85	-
Gain (Loss) on Sale of Assets	0.23	0.51	-1.72	0.49	-0.48	-0.27
Asset Writedown	-9.52	-	-	-	-	-
Other Unusual Items	5.8	6.48	4.56	5.14	9.48	2.58
Pretax Income	208.29	180.96	124.86	59.63	36.53	58.17
Income Tax Expense	12.06	10.33	5.57	-0.65	-1.88	3
Earnings From Continuing Operations	196.23	170.63	119.28	60.28	38.41	55.17
Minority Interest in Earnings	-42.87	-28.98	-21.74	-4.54	0.01	-
Net Income	153.37	141.65	97.55	55.75	38.42	55.17
Net Income to Common	153.37	141.65	97.55	55.75	38.42	55.17
Net Income Growth	45.65%	45.21%	74.99%	45.10%	-30.36%	-14.18%
Shares Outstanding (Basic)	145	145	145	145	145	112
Shares Outstanding (Diluted)	145	145	145	145	145	112
Shares Change (YoY)	0.05%	0.01%	-0.01%	0.01%	29.77%	2.73%
EPS (Basic)	1.06	0.98	0.67	0.38	0.27	0.49
EPS (Diluted)	1.06	0.98	0.67	0.38	0.27	0.49
EPS Growth	45.57%	45.20%	75.01%	45.08%	-46.34%	-16.46%
Free Cash Flow	-110.35	15.18	-20.51	-25.64	-19.01	-8.54
Free Cash Flow Per Share	-0.76	0.10	-0.14	-0.18	-0.13	-0.08
Dividend Per Share	0.571	0.571	0.429	0.357	0.255	0.255
Dividend Growth	33.32%	33.32%	20.02%	39.98%	-	-
Gross Margin	26.56%	24.25%	27.99%	27.36%	28.74%	34.64%
Operating Margin	11.11%	9.84%	10.51%	5.95%	3.43%	12.60%
Profit Margin	7.60%	7.79%	8.66%	8.27%	8.41%	13.06%
Free Cash Flow Margin	-5.47%	0.83%	-1.82%	-3.80%	-4.16%	-2.02%
EBITDA	252.73	207.32	146.09	62.52	31.5	63.65
EBITDA Margin	12.52%	11.40%	12.97%	9.27%	6.90%	15.07%
D&A For EBITDA	28.46	28.31	27.69	22.39	15.85	10.4
EBIT	224.27	179.02	118.4	40.13	15.65	53.24
EBIT Margin	11.11%	9.84%	10.51%	5.95%	3.43%	12.60%
Effective Tax Rate	5.79%	5.71%	4.46%	-	-	5.15%
Revenue as Reported	2,018	1,819	1,127	674.22	456.62	422.47
Advertising Expenses	-	0.52	0.08	0.05	0.18	-

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