SHE:000524 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	80.48	150.15	69.49	-178.02	-127.8	-240.44
Depreciation & Amortization	109.85	109.85	120.49	110.42	121.26	102.7
Other Amortization	65.29	65.29	50.04	45.77	43.35	50.69
Loss (Gain) From Sale of Assets	4.07	4.07	-0.15	-0.57	-1.62	2.74
Asset Writedown & Restructuring Costs	5.62	5.62	3.05	8.91	30.88	51.64
Loss (Gain) From Sale of Investments	-74.49	-74.49	1.95	-3.19	-0.76	-2.45
Provision & Write-off of Bad Debts	1.27	1.27	-3.32	2.65	-2.31	9.81
Other Operating Activities	-11.91	16.75	10.19	-8.34	-10.94	-11.92
Change in Accounts Receivable	-195.44	-195.44	-144.39	-135.8	99.47	-544.18
Change in Inventory	1.53	1.53	2.56	-1.01	-0.69	0.68
Change in Accounts Payable	261.57	261.57	285.55	121.02	-246.85	213.81
Operating Cash Flow	275.18	373.5	417.01	-48.69	-98.94	-427.84
Operating Cash Flow Growth	-17.41%	-10.43%	-	-	-	-
Capital Expenditures	-177.37	-94.86	-117.28	-72.87	-63.67	-95.91
Sale of Property, Plant & Equipment	4.31	2.85	1.56	3.22	3.8	1.41
Cash Acquisitions	-5.83	-	-	1.95	-27.03	-44.36
Investment in Securities	188.83	0.41	0.34	-198.9	-	100
Other Investing Activities	25.77	79.39	0.39	3.4	0.47	7.93
Investing Cash Flow	35.71	-12.21	-114.99	-263.2	-86.44	-30.93
Short-Term Debt Issued	-	-	-	24.87	7.42	263.38
Total Debt Issued	-	-	-	24.87	7.42	263.38
Short-Term Debt Repaid	-	-	-24.87	-0.51	-35.36	-614.68
Long-Term Debt Repaid	-	-32.26	-33.43	-21.29	-19.58	-
Total Debt Repaid	-32.26	-32.26	-58.3	-21.8	-54.94	-614.68
Net Debt Issued (Repaid)	-32.26	-32.26	-58.3	3.07	-47.52	-351.3
Common Dividends Paid	-53.62	-	-	-	-0.03	-90.33
Other Financing Activities	-17.15	-16.64	-	-	1.47	-12.08
Financing Cash Flow	-103.02	-48.9	-58.3	3.07	-46.08	-453.71
Foreign Exchange Rate Adjustments	-3.37	-2.95	0.25	1.34	-0.53	-0.74
Net Cash Flow	204.5	309.45	243.97	-307.48	-231.99	-913.22
Free Cash Flow	97.81	278.64	299.72	-121.56	-162.61	-523.75
Free Cash Flow Growth	-62.80%	-7.03%	-	-	-	-
Free Cash Flow Margin	2.20%	6.47%	8.72%	-11.75%	-10.65%	-27.89%
Free Cash Flow Per Share	0.15	0.41	0.43	-0.18	-0.24	-0.78
Cash Income Tax Paid	120.76	92.79	75.29	23.46	32.51	66.38
Levered Free Cash Flow	52.91	243.38	257.45	-73.56	-196.22	-422
Unlevered Free Cash Flow	56.76	247.03	260.03	-72.27	-194.76	-421.25
Change in Working Capital	95.01	95.01	165.28	-26.32	-151	-390.6

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