Also trades as: 0753.HK (HKSE) · $vol 11M · AICAF (OTC) · $vol 0M · AIRYY (OTC) · $vol 0M · AD2.VI (VIE) · $vol 0M

¥5.91 ($0.88)

+0.13 (+2.25%)

SHH · Industrials · Airlines, Airports & Air Services · Tech Score Neutral · Power 47 · ¥102.7B mcap · 4.42B float · 1.82% daily turnover

Revenue

$171.5B +2.9% ▲

5Y CAGR: +19.8%

Gross Profit

$8.4B -1.7% ▼

Operating Income

-$4.8B -39.4% ▼

Net Income

-$1.8B -646.0% ▼

EPS (Diluted)

$-0.11 -633.3% ▼

EBITDA

$26.1B +106.3% ▲

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$74.5B	$52.9B	$141.1B	$166.7B	$171.5B
YoY Growth	+7.2%	-29.0%	+166.7%	+18.1%	+2.9%
Cost of Revenue	$85.9B	$82.8B	$134.0B	$158.2B	$163.1B
Gross Profit	-$11.4B	-$29.9B	$7.1B	$8.5B	$8.4B
Gross Margin	-15.2%	-56.6%	5.0%	5.1%	4.9%
R&D Expenses	$153M	$244M	$373M	$432M	$471M
SG&A Expenses	$3.7B	$2.8B	$4.8B	$6.2B	$12.3B
Operating Expenses	$10.5B	$16.2B	$10.4B	$11.9B	$13.1B
Operating Income	-$21.9B	-$46.1B	-$3.3B	-$3.4B	-$4.8B
Operating Margin	-29.3%	-87.1%	-2.4%	-2.1%	-2.8%
Interest Expense	$5.5B	$6.5B	$6.9B	$6.5B	$5.8B
Income Before Tax	-$21.8B	-$45.9B	-$1.7B	-$1.6B	-$1.6B
Tax Expense	-$3.0B	-$704M	-$91M	$845M	$1.9B
Net Income	-$16.6B	-$38.6B	-$1.0B	-$237M	-$1.8B
Net Margin	-22.3%	-73.0%	-0.7%	-0.1%	-1.0%
EPS (Diluted)	$-1.21	$-2.81	$-0.07	$-0.01	$-0.11
EBITDA	-$8.0B	-$27.2B	$11.7B	$12.6B	$26.1B
Shares Outstanding	13.73B	13.74B	15.40B	15.86B	16.67B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$45.4B	$38.5B	$40.0B	$40.7B	$49.1B	$41.7B	$44.5B	$44.7B
Cost of Revenue	$53.0B	$38.5B	$39.8B	$27.1B	$42.3B	$42.1B	$41.0B	$48.0B
Gross Profit	-$7.6B	$93M	$210M	$13.6B	$6.8B	-$452M	$3.5B	-$3.2B
Gross Margin	-16.8%	0.2%	0.5%	33.4%	13.8%	-1.1%	7.9%	-7.2%
R&D Expenses	$293M	$139M	$85M	$105M	$122M	$158M	$96M	$134M
SG&A Expenses	$5.8B	-$2.8B	$3.1B	-$56M	$3.1B	$3.4B	$3.0B	$2.9B
Operating Expenses	-$9.5B	$4.4B	$2.7B	$12.8B	$3.3B	$4.1B	$3.2B	$3.2B
Operating Income	$1.9B	-$4.3B	-$2.5B	$817M	$3.4B	-$4.6B	$261M	-$6.4B
Operating Margin	4.2%	-11.1%	-6.3%	2.0%	7.0%	-11.0%	0.6%	-14.4%
Interest Expense	$1.6B	$1.6B	$1.5B	$1.4B	$1.4B	$1.3B	$1.2B	$1.2B
Income Before Tax	$4.4B	-$2.7B	-$2.5B	-$335M	$4.1B	-$3.0B	$1.9B	-$5.0B
Tax Expense	$57M	$535M	$82M	-$160M	$76M	$1.9B	$104M	$190M
Net Income	$4.1B	-$1.6B	-$2.0B	$238M	$3.7B	-$3.6B	$1.7B	-$4.0B
Net Margin	9.1%	-4.1%	-5.1%	0.6%	7.5%	-8.7%	3.8%	-8.9%
EPS (Diluted)	$0.30	$-0.09	$-0.12	$0.01	$0.21	$-0.21	$0.10	$-0.23
EBITDA	$6.2B	$311M	$1.5B	$3.8B	$4.7B	$6.3B	$3.1B	$1.5B
Shares Outstanding	16.59B	18.07B	17.45B	17.45B	17.45B	17.45B	17.45B	17.53B

601111.SS SHH