SHE:000062 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Net Income	462.94	212.97	467.35	952.45	883.43
Depreciation & Amortization	185.36	186.63	145.12	138.91	121.69
Other Amortization	41.77	28.7	24.55	25.23	26.23
Loss (Gain) From Sale of Assets	-2.2	0.07	-0.03	-0.04	-0.01
Asset Writedown & Restructuring Costs	15.51	123.26	14.74	0.28	75.28
Loss (Gain) From Sale of Investments	-45.82	-70.53	1.19	-194.83	-29.1
Provision & Write-off of Bad Debts	7.7	9.2	23.41	1.28	-
Other Operating Activities	403.62	474.08	448.59	409.91	300.19
Change in Accounts Receivable	-1,906	244.56	-1,191	967.55	-1,181
Change in Inventory	-150.4	-456.74	85.09	54.12	-1,541
Change in Accounts Payable	-36.27	720.83	-99.83	-113.77	409.05
Change in Other Net Operating Assets	-	-	2.32	2.19	-2.21
Operating Cash Flow	-990.4	1,442	-74.58	2,276	-931.59
Capital Expenditures	-149.3	-74.45	-116.65	-317.28	-368.36
Sale of Property, Plant & Equipment	1.65	0.11	0.07	0.11	0.18
Cash Acquisitions	-	-	-	-	-54.44
Divestitures	-0.7	-	-	-	-30.99
Investment in Securities	36.21	56.44	-33.5	-80	21.42
Other Investing Activities	443.17	0	2.66	11.73	-
Investing Cash Flow	331.03	-17.9	-147.42	-385.44	-432.19
Long-Term Debt Issued	10,851	10,747	12,103	11,831	12,337
Total Debt Issued	10,851	10,747	12,103	11,831	12,337
Short-Term Debt Repaid	-	-	-	-	-12.11
Long-Term Debt Repaid	-9,683	-11,521	-11,110	-12,461	-9,934
Total Debt Repaid	-9,683	-11,521	-11,110	-12,461	-9,946
Net Debt Issued (Repaid)	1,168	-773.77	993.41	-630.8	2,391
Common Dividends Paid	-816.03	-719.66	-619.04	-518.83	-348.64
Other Financing Activities	0.43	-21.68	-24.18	-155.28	-54.26
Financing Cash Flow	352.3	-1,515	350.18	-1,305	1,988
Foreign Exchange Rate Adjustments	-38.77	-27.63	-3.55	109.45	66.44
Net Cash Flow	-345.84	-118.44	124.63	694.93	690.94
Free Cash Flow	-1,140	1,368	-191.23	1,959	-1,300
Free Cash Flow Margin	-4.58%	6.23%	-0.93%	8.18%	-5.69%
Free Cash Flow Per Share	-1.09	1.31	-0.18	1.87	-1.24
Cash Income Tax Paid	259.97	256.44	387.88	407.79	354.38
Levered Free Cash Flow	-1,432	945.2	-526.42	1,118	-1,646
Unlevered Free Cash Flow	-1,299	1,101	-372.08	1,240	-1,559
Change in Working Capital	-2,059	477.84	-1,199	942.64	-2,309

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