SHE:301631 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	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	6,191	5,113	3,867	3,042	2,758	1,434
Other Revenue	35.96	35.96	38.55	32.45	-	-
Revenue	6,227	5,149	3,905	3,075	2,758	1,434
Revenue Growth	32.71%	31.85%	27.01%	11.48%	92.34%	105.20%
Cost of Revenue	5,369	4,360	3,289	2,520	2,225	1,125
Gross Profit	857.41	788.94	616.01	554.3	533.31	309.38
Selling, General & Admin	302.64	223.85	172.83	115.54	102.27	61.63
Research & Development	194.27	172.04	144.08	108.17	92.27	60.91
Other Operating Expenses	5.74	4.31	5.72	9.54	10.23	7.21
Operating Expenses	523.46	428.38	333.2	232.74	241.64	116.25
Operating Income	333.95	360.56	282.81	321.56	291.67	193.12
Interest Expense	-11.35	-12.07	-12.29	-10.73	-9.28	-5.97
Interest & Investment Income	14.38	14.57	2.09	1.01	0.34	0.34
Currency Exchange Gain (Loss)	-1.3	-1.3	0.52	0.42	1.62	-0.9
Other Non Operating Income (Expenses)	-11.49	0.26	-0.78	0.12	-1.25	0.65
EBT Excluding Unusual Items	324.19	362.02	272.36	312.37	283.1	187.23
Gain (Loss) on Sale of Investments	-0.78	1.08	-3.4	-15.32	-4.47	-1.56
Gain (Loss) on Sale of Assets	0.29	2.64	-0.46	0.18	0.33	-0.81
Asset Writedown	-12.01	-0.97	-	-1.34	-0.92	-27.02
Other Unusual Items	6.07	6.07	16.95	12.56	7.87	3.45
Pretax Income	317.76	370.83	285.45	308.45	285.91	161.28
Income Tax Expense	52.99	77.19	51.5	53.39	54.97	22.47
Earnings From Continuing Operations	264.78	293.65	233.95	255.05	230.94	138.81
Minority Interest in Earnings	-2.93	-0.18	-0.82	4.84	5.2	3.8
Net Income	261.85	293.47	233.13	259.89	236.15	142.61
Net Income to Common	261.85	293.47	233.13	259.89	236.15	142.61
Net Income Growth	-3.25%	25.88%	-10.30%	10.05%	65.59%	117.38%
Shares Outstanding (Basic)	128	128	99	96	96	90
Shares Outstanding (Diluted)	128	128	99	96	96	90
Shares Change	4.60%	29.80%	2.79%	-0.10%	6.50%	6.59%
EPS (Basic)	2.04	2.29	2.36	2.71	2.46	1.58
EPS (Diluted)	2.04	2.29	2.36	2.71	2.46	1.58
EPS Growth	-7.50%	-3.02%	-12.73%	10.17%	55.49%	103.95%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Free Cash Flow	231.48	276.88	156.71	85.19	-112.6	-29.32
Free Cash Flow Per Share	1.81	2.16	1.59	0.89	-1.17	-0.33
Dividend Per Share	0.714	0.714	0.857	-	-	-
Dividend Growth	-16.66%	-16.66%	-	-	-	-
Gross Margin	13.77%	15.32%	15.78%	18.03%	19.34%	21.58%
Operating Margin	5.36%	7.00%	7.24%	10.46%	10.58%	13.47%
Profit Margin	4.21%	5.70%	5.97%	8.45%	8.56%	9.95%
Free Cash Flow Margin	3.72%	5.38%	4.01%	2.77%	-4.08%	-2.04%
EBITDA	421.18	432.29	333.87	359.24	315.78	208.31
EBITDA Margin	6.76%	8.40%	8.55%	11.68%	11.45%	14.53%
D&A For EBITDA	87.23	71.73	51.06	37.67	24.11	15.19
EBIT	333.95	360.56	282.81	321.56	291.67	193.12
EBIT Margin	5.36%	7.00%	7.24%	10.46%	10.58%	13.47%
Effective Tax Rate	16.68%	20.81%	18.04%	17.31%	19.23%	13.93%
Revenue as Reported	6,227	5,149	3,905	3,075	-	-
Advertising Expenses	-	1.78	1.92	0.42	0.18	0.45