SHE:000523 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	513.54	513.04	74.83	-48.16	1,455	-4,716
Depreciation & Amortization	108.62	108.62	106.74	124.79	72.43	46.75
Other Amortization	46.51	46.51	41.18	38.26	4.72	2.21
Loss (Gain) From Sale of Assets	-54.93	-54.93	-39.64	-34.89	0.09	-2,256
Asset Writedown & Restructuring Costs	-	-	-	11.7	7.22	1.96
Loss (Gain) From Sale of Investments	-5.2	-5.2	-30.1	-129.42	-2,340	128.5
Provision & Write-off of Bad Debts	2.07	2.07	4.82	126.8	50.05	16.14
Other Operating Activities	438.67	64.03	50.61	62.19	163.25	6,111
Change in Accounts Receivable	27.02	27.02	-15.84	274.16	309.79	-1,257
Change in Inventory	-181.02	-181.02	298.42	-271.75	109.96	-68.7
Change in Accounts Payable	23.43	23.43	-73.68	-607.63	-131.6	-274.98
Change in Other Net Operating Assets	15.34	15.34	149.71	275.39	-27.95	-45.86
Operating Cash Flow	510.39	135.24	503.65	-204.68	-141.61	-1,891
Operating Cash Flow Growth	-	-73.15%	-	-	-	-
Capital Expenditures	-77.6	-58.43	-132.18	-185.25	-49.43	-108.46
Sale of Property, Plant & Equipment	-	0	0.45	3.55	207.91	1,816
Cash Acquisitions	-	-	-	-0.35	-0.48	-
Divestitures	-	-	63.85	-	-	-
Investment in Securities	-147.12	-	-5.53	78.25	55.23	-276.49
Other Investing Activities	0.4	0.16	3.38	1.34	0.52	15.52
Investing Cash Flow	-224.32	-58.26	-70.04	-102.46	213.75	1,447
Long-Term Debt Issued	-	297.98	66.64	298.73	1,767	3,248
Total Debt Issued	245	297.98	66.64	298.73	1,767	3,248
Long-Term Debt Repaid	-	-265.03	-344.63	-200.85	-1,912	-2,790
Total Debt Repaid	-351.07	-265.03	-344.63	-200.85	-1,912	-2,790
Net Debt Issued (Repaid)	-106.07	32.95	-277.98	97.88	-144.97	458.4
Issuance of Common Stock	-	-	594	-	150	-
Common Dividends Paid	-16.43	-7.54	-14.85	-27.85	-110.46	-153.34
Other Financing Activities	-170.71	-	-4.16	-5.26	-1.17	-9.8
Financing Cash Flow	-293.21	25.41	297	64.76	-106.6	295.25
Foreign Exchange Rate Adjustments	0	-	-	-	-1.08	0.36
Net Cash Flow	-7.14	102.39	730.61	-242.37	-35.53	-148.18
Free Cash Flow	432.79	76.82	371.47	-389.93	-191.04	-1,999
Free Cash Flow Growth	-	-79.32%	-	-	-	-
Free Cash Flow Margin	21.90%	3.74%	14.13%	-14.79%	-7.39%	-60.30%
Free Cash Flow Per Share	0.24	0.04	0.20	-0.24	-0.12	-3.19
Cash Income Tax Paid	262.04	197.88	48.62	361.57	2.11	76.98
Levered Free Cash Flow	218.22	-161.21	455.69	-729.24	-727.64	2,833
Unlevered Free Cash Flow	241.99	-140.86	477.58	-703.62	-642.15	2,944
Change in Working Capital	-538.9	-538.9	295.21	-355.95	445.67	-1,225

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.