Also trades as: 601868.SS (SHH) · $vol 210M

HK$1.03 ($0.13)

+0.01 (+0.98%)

Weekly Expected Move ±3.2%

HK$1 HK$1 HK$1 HK$1 HK$1

HKSE · Industrials · Engineering & Construction · Tech Score Neutral · Power 42 · HK$45.6B mcap · 14.38B float · 0.314% daily turnover

Revenue

$440.6B +0.9% ▲

5Y CAGR: +10.3%

Gross Profit

$51.6B -4.3% ▼

5Y CAGR: +7.0%

Operating Income

$17.8B +19.9% ▲

5Y CAGR: +7.3%

Net Income

$5.7B -32.2% ▼

5Y CAGR: +4.0%

EPS (Diluted)

$0.13 -31.6% ▼

5Y CAGR: -2.8%

EBITDA

$28.0B +3.2% ▲

5Y CAGR: +8.7%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$322.3B	$366.4B	$406.0B	$436.7B	$440.6B
YoY Growth	+19.2%	+13.7%	+10.8%	+7.6%	+0.9%
Cost of Revenue	$279.9B	$320.9B	$354.7B	$382.8B	$389.0B
Gross Profit	$42.4B	$45.5B	$51.3B	$53.9B	$51.6B
Gross Margin	13.2%	12.4%	12.6%	12.3%	11.7%
R&D Expenses	$8.8B	$10.4B	$13.0B	$14.0B	$14.2B
SG&A Expenses	$4.3B	$3.8B	$4.5B	$17.2B	$17.4B
Operating Expenses	$24.1B	$31.8B	$37.3B	$39.1B	$33.8B
Operating Income	$18.3B	$13.8B	$14.0B	$14.8B	$17.8B
Operating Margin	5.7%	3.8%	3.5%	3.4%	4.0%
Interest Expense	$3.4B	$5.6B	$5.9B	$6.8B	$7.5B
Income Before Tax	$13.1B	$13.7B	$14.0B	$15.1B	$13.0B
Tax Expense	$3.5B	$3.3B	$2.8B	$3.3B	$3.5B
Net Income	$6.5B	$7.8B	$8.0B	$8.4B	$5.7B
Net Margin	2.0%	2.1%	2.0%	1.9%	1.3%
EPS (Diluted)	$0.19	$0.18	$0.18	$0.19	$0.13
EBITDA	$21.1B	$25.1B	$26.9B	$27.2B	$28.0B
Shares Outstanding	34.23B	43.39B	44.37B	44.19B	41.69B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$100.9B	$141.6B	$100.4B	$111.7B	$111.0B	$127.5B	$101.1B	$105.8B
Cost of Revenue	$90.2B	$121.7B	$89.1B	$99.0B	$100.0B	$108.3B	$90.2B	$93.8B
Gross Profit	$10.6B	$19.8B	$11.2B	$12.7B	$11.0B	$19.1B	$10.9B	$12.1B
Gross Margin	10.5%	14.0%	11.2%	11.4%	9.9%	15.0%	10.8%	11.4%
R&D Expenses	$3.4B	$5.7B	$2.1B	$3.2B	$3.5B	$5.6B	$2.0B	$3.1B
SG&A Expenses	$4.1B	$6.0B	$4.2B	$4.4B	$4.0B	$6.1B	$4.0B	$3.9B
Operating Expenses	$8.4B	$13.4B	$7.9B	$9.6B	$7.9B	$13.2B	$6.4B	$7.5B
Operating Income	$2.2B	$6.5B	$3.3B	$3.1B	$3.1B	$5.9B	$4.5B	$4.6B
Operating Margin	2.2%	4.6%	3.3%	2.8%	2.8%	4.6%	4.5%	4.3%
Interest Expense	$644M	$817M	$1.2B	$1.3B	$1.5B	$2.1B	$1.7B	$2.1B
Income Before Tax	$2.3B	$6.6B	$3.4B	$3.2B	$1.9B	$4.8B	$3.1B	$2.6B
Tax Expense	$720M	$910M	$783M	$976M	$658M	$1.2B	$863M	$950M
Net Income	$822M	$4.8B	$1.6B	$1.2B	$354M	$2.6B	$1.4B	$821M
Net Margin	0.8%	3.4%	1.6%	1.1%	0.3%	2.1%	1.4%	0.8%
EPS (Diluted)	$0.02	$0.12	$0.04	$0.03	$0.01	$0.06	$0.03	$0.02
EBITDA	$4.8B	$9.2B	$6.6B	$6.8B	$3.6B	$8.8B	$7.2B	$7.3B
Shares Outstanding	46.85B	41.60B	43.56B	45.39B	41.69B	41.69B	44.24B	44.24B

3996.HK HKSE