SHE:000518 Cash Flow 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 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-32.49	-37.09	-109.99	-75.27	-48.79	-34.79
Depreciation & Amortization	17.05	17.05	21.51	24.6	24.75	23.99
Other Amortization	1.03	1.03	-	-	-	-
Loss (Gain) From Sale of Assets	0.76	0.76	2.41	-	0.01	-0.28
Asset Writedown & Restructuring Costs	0.61	0.61	13.42	4	2.25	-
Loss (Gain) From Sale of Investments	-3.53	-3.53	-0.5	-1.73	0.2	0.52
Provision & Write-off of Bad Debts	9.66	9.66	2.53	1.58	5.17	5.5
Other Operating Activities	-27.69	2.46	30.13	17.87	3.36	3
Change in Accounts Receivable	-13.1	-13.1	4.88	38.87	-0.93	-16.03
Change in Inventory	137.84	137.84	16.49	-15.54	16.97	8.47
Change in Accounts Payable	-36.26	-36.26	20.54	6.94	2.58	8.98
Operating Cash Flow	52.57	78.12	1.46	1.63	4.87	0.16
Operating Cash Flow Growth	810.24%	5245.57%	-10.33%	-66.51%	3026.09%	-99.84%
Capital Expenditures	-3.65	-3.6	-5.56	-8.19	-8.47	-7.69
Sale of Property, Plant & Equipment	0.09	0.09	8.19	-	-	0.32
Divestitures	0.01	0.01	-	-	-	-
Investment in Securities	1.5	1.5	-	-0.3	-	0
Other Investing Activities	-	-	-	-	-	-1.81
Investing Cash Flow	-2.04	-2	2.63	-8.49	-8.47	-9.18
Short-Term Debt Issued	-	10	6	16	16	16
Total Debt Issued	20	10	6	16	16	16
Short-Term Debt Repaid	-	-49.47	-12.53	-16	-16	-16
Long-Term Debt Repaid	-	-4.34	-4.2	-4.86	-5.86	-7
Total Debt Repaid	-13.81	-53.81	-16.73	-20.86	-21.86	-23
Net Debt Issued (Repaid)	6.19	-43.81	-10.73	-4.86	-5.86	-7
Common Dividends Paid	-0.68	-0.58	-0.6	-0.77	-0.72	-
Other Financing Activities	-7.4	40	-	0.02	-	-0.7
Financing Cash Flow	-1.9	-4.39	-11.33	-5.61	-6.57	-7.7
Foreign Exchange Rate Adjustments	-0.06	-0.03	0.02	0.01	-	-
Net Cash Flow	48.57	71.7	-7.22	-12.47	-10.18	-16.73
Free Cash Flow	48.92	74.52	-4.1	-6.56	-3.61	-7.53
Free Cash Flow Growth	3547.49%	-	-	-	-	-
Free Cash Flow Margin	12.82%	21.64%	-2.01%	-2.79%	-1.34%	-2.15%
Free Cash Flow Per Share	0.05	0.07	-0.00	-0.01	-0.00	-0.01
Cash Interest Paid	-	-	-	-	-	0.7
Cash Income Tax Paid	8.06	8.06	7.77	11.85	8.77	19.27
Levered Free Cash Flow	114.34	101.63	45.73	19.91	25.68	5.11
Unlevered Free Cash Flow	115.51	102.68	47.05	21.45	26.13	5.55
Change in Working Capital	87.17	87.17	41.97	30.58	17.92	2.22

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