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 2021	FY 2020
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	5,931	5,113	3,867	3,042	1,434	691.72
Other Revenue	47.83	35.96	38.55	32.45	-	7.05
Revenue	5,979	5,149	3,905	3,075	1,434	698.77
Revenue Growth	39.72%	31.85%	27.01%	114.42%	105.20%	-4.96%
Cost of Revenue	5,121	4,360	3,289	2,520	1,123	539.09
Gross Profit	858	788.94	616.01	554.3	311.08	159.68
Selling, General & Admin	268.71	223.85	172.83	115.54	61.63	41.4
Research & Development	188.39	172.04	144.08	108.17	60.91	38.46
Other Operating Expenses	8.52	4.31	5.72	9.54	3.15	-0.45
Operating Expenses	493.6	428.38	333.2	232.74	125.7	72.35
Operating Income	364.4	360.56	282.81	321.56	185.38	87.33
Interest Expense	-10.66	-12.07	-12.29	-10.73	-	-4.06
Interest & Investment Income	14	14.57	2.09	1.01	-	0.07
Currency Exchange Gain (Loss)	-5.69	-1.3	0.52	0.42	-	-1.39
Other Non Operating Income (Expenses)	-1.7	0.26	-0.78	0.12	-20.01	-0.13
EBT Excluding Unusual Items	360.35	362.02	272.36	312.37	165.37	81.83
Gain (Loss) on Sale of Investments	-0.86	1.08	-3.4	-15.32	-1.56	-3.3
Gain (Loss) on Sale of Assets	-4.07	2.64	-0.46	0.18	-0.81	-
Asset Writedown	-0.97	-0.97	-	-1.34	-1.71	-0.03
Other Unusual Items	8.73	6.07	16.95	12.56	-	-0.49
Pretax Income	363.18	370.83	285.45	308.45	161.28	78
Income Tax Expense	73.79	77.19	51.5	53.39	22.47	12.82
Earnings From Continuing Operations	289.39	293.65	233.95	255.05	138.81	65.18
Minority Interest in Earnings	-3.45	-0.18	-0.82	4.84	3.8	0.42
Net Income	285.94	293.47	233.13	259.89	142.61	65.6
Net Income to Common	285.94	293.47	233.13	259.89	142.61	65.6
Net Income Growth	12.38%	25.88%	-10.30%	82.24%	117.38%	-19.92%
Shares Outstanding (Basic)	127	128	99	96	46	85
Shares Outstanding (Diluted)	127	128	99	96	46	85
Shares Change	10.83%	29.80%	2.79%	108.53%	-45.62%	8.53%
EPS (Basic)	2.24	2.29	2.36	2.71	3.10	0.78
EPS (Diluted)	2.24	2.29	2.36	2.71	3.10	0.78
EPS Growth	1.40%	-3.02%	-12.73%	-12.61%	299.74%	-26.21%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2021	FY 2020
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Free Cash Flow	196.88	276.88	156.71	85.19	-29.32	127.44
Free Cash Flow Per Share	1.54	2.16	1.59	0.89	-0.64	1.51
Dividend Per Share	0.714	0.714	0.857	-	-	-
Dividend Growth	-16.66%	-16.66%	-	-	-	-
Gross Margin	14.35%	15.32%	15.78%	18.03%	21.70%	22.85%
Operating Margin	6.09%	7.00%	7.24%	10.46%	12.93%	12.50%
Profit Margin	4.78%	5.70%	5.97%	8.45%	9.95%	9.39%
Free Cash Flow Margin	3.29%	5.38%	4.01%	2.77%	-2.04%	18.24%
EBITDA	450.18	432.29	333.87	359.24	200.57	97.87
EBITDA Margin	7.53%	8.40%	8.55%	11.68%	13.99%	14.01%
D&A For EBITDA	85.78	71.73	51.06	37.67	15.19	10.53
EBIT	364.4	360.56	282.81	321.56	185.38	87.33
EBIT Margin	6.09%	7.00%	7.24%	10.46%	12.93%	12.50%
Effective Tax Rate	20.32%	20.81%	18.04%	17.31%	13.93%	16.44%
Revenue as Reported	5,979	5,149	3,905	3,075	-	698.77
Advertising Expenses	-	1.78	1.92	0.42	-	0.15