SHE:000151 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-191.07	-305.54	-262.66	-332.33	7.97	-275.51
Depreciation & Amortization	27.59	27.59	29.57	30.31	25.34	19.95
Other Amortization	3.2	3.2	1.56	1.66	1.66	1.72
Loss (Gain) From Sale of Assets	-0.84	-0.84	-1.76	-1.59	0.07	-0.03
Asset Writedown & Restructuring Costs	135.68	135.68	110.53	199.59	0.01	117.9
Loss (Gain) From Sale of Investments	-	-	-3.86	-11.3	-13.71	-0.01
Provision & Write-off of Bad Debts	66.28	66.28	-166.72	350.64	-8.63	-
Other Operating Activities	-515.46	-257.23	-171.16	-141.84	105.62	84.71
Change in Accounts Receivable	868.89	868.89	763.24	-856.17	-251.51	419.36
Change in Inventory	3.09	3.09	12.54	220.05	11.01	130.92
Change in Accounts Payable	-605.57	-605.57	262.8	707.85	101.82	-316.41
Operating Cash Flow	-159.19	-15.43	599.46	103.1	-17.25	193.93
Operating Cash Flow Growth	-	-	481.42%	-	-	-
Capital Expenditures	-4.02	-3.44	-24.94	-8.32	-10.93	-9.27
Sale of Property, Plant & Equipment	9	9.01	9.15	1.77	0.01	0.11
Cash Acquisitions	-	-	-	-	-379.18	-
Divestitures	-	-	-	-21.59	-	-
Other Investing Activities	146.01	146.97	228.71	-0.03	12.84	-83.56
Investing Cash Flow	150.99	152.55	212.92	-28.18	-377.27	-92.71
Long-Term Debt Issued	-	732.97	1,205	1,169	937.74	590.12
Total Debt Issued	611.84	732.97	1,205	1,169	937.74	590.12
Long-Term Debt Repaid	-	-1,052	-1,695	-1,260	-493.21	-691.82
Total Debt Repaid	-678.37	-1,052	-1,695	-1,260	-493.21	-691.82
Net Debt Issued (Repaid)	-66.53	-319.15	-489.98	-90.46	444.53	-101.71
Issuance of Common Stock	-	-	-	-	244.5	-
Common Dividends Paid	-11.76	-40.7	-53.49	-35.92	-18.61	-14.94
Other Financing Activities	-3.28	-8.52	-	-5.24	-0.26	-0.84
Financing Cash Flow	-81.57	-368.37	-543.47	-131.62	670.16	-117.48
Foreign Exchange Rate Adjustments	-7.88	-34.31	1.26	36.31	-26.99	-37.49
Net Cash Flow	-97.65	-265.57	270.17	-20.39	248.66	-53.75
Free Cash Flow	-163.21	-18.88	574.52	94.78	-28.18	184.67
Free Cash Flow Growth	-	-	506.14%	-	-	-
Free Cash Flow Margin	-14.35%	-1.54%	18.73%	2.25%	-1.31%	10.37%
Free Cash Flow Per Share	-0.48	-0.06	1.70	0.28	-0.09	0.62
Cash Income Tax Paid	50.1	29.75	24.96	25.18	44.49	38.47
Levered Free Cash Flow	101.31	23.43	586.52	-409.17	-117.52	-101.21
Unlevered Free Cash Flow	118.65	47.81	620.62	-387.17	-102.13	-96.13
Change in Working Capital	315.43	315.43	1,064	7.96	-135.59	245.2

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