SHE:000530 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	Jan '25 Jan 1, 2025	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	53.87	62.04	110.34	49.38	18.73	-269.06
Depreciation & Amortization	157.5	157.5	163.17	160.54	96.45	98.84
Other Amortization	1.88	1.88	1.84	1.55	1.46	1.57
Loss (Gain) From Sale of Assets	-0.09	-0.09	-5.01	1.18	-0.19	-0.06
Asset Writedown & Restructuring Costs	1.88	1.88	20.92	7	4.4	1.54
Loss (Gain) From Sale of Investments	-30.62	-30.62	-97.56	-15.18	-259.7	-4.95
Provision & Write-off of Bad Debts	47.99	47.99	-0.93	64.96	113.51	94.09
Other Operating Activities	73.05	49.51	66.95	60.36	59.93	59.15
Change in Accounts Receivable	-81.26	-81.26	45.12	-500.97	-1,052	-45.57
Change in Inventory	-40.97	-40.97	243.07	-257.41	-412.97	-324.48
Change in Accounts Payable	-26.13	-26.13	-286.44	424.76	1,374	407.76
Operating Cash Flow	137.58	122.21	237.15	-24.44	-56.25	1.52
Operating Cash Flow Growth	-34.18%	-48.47%	-	-	-	-
Capital Expenditures	-186.6	-193	-78.72	-89.32	-50.71	-30.7
Sale of Property, Plant & Equipment	1.23	0.56	32.62	1.67	0.67	0.75
Cash Acquisitions	-	-	-	-12.06	-401.82	-
Divestitures	-	-	-	-	5.26	211.2
Investment in Securities	-53.22	-51.8	163.84	-168	304.79	-43.7
Other Investing Activities	81.61	31.85	252.46	44.34	109.22	110.7
Investing Cash Flow	-156.98	-212.39	370.2	-223.37	-32.6	248.26
Long-Term Debt Issued	-	255.65	333.72	451.32	871.84	291.15
Long-Term Debt Repaid	-	-326.89	-599.22	-373.01	-271.13	-364.9
Net Debt Issued (Repaid)	-108.65	-71.24	-265.5	78.31	600.71	-73.75
Common Dividends Paid	-61.94	-62.74	-57.07	-41.77	-30.64	-24.74
Other Financing Activities	-7.8	-9.24	-7.25	-39.58	-	-27.4
Financing Cash Flow	-178.39	-143.22	-329.82	-3.04	570.07	-125.89
Foreign Exchange Rate Adjustments	-1.53	2.26	3.61	-0.37	1.47	0.1
Net Cash Flow	-199.33	-231.14	281.14	-251.22	482.69	123.99
Free Cash Flow	-49.03	-70.79	158.44	-113.76	-106.96	-29.18
Free Cash Flow Margin	-1.15%	-1.61%	3.50%	-2.36%	-3.70%	-1.40%
Free Cash Flow Per Share	-0.06	-0.08	0.19	-0.14	-0.11	-0.04
Cash Income Tax Paid	122.67	122.67	151.22	162.38	57.64	46.87
Levered Free Cash Flow	102.28	-121.63	91.48	96.9	-361.83	-12.72
Unlevered Free Cash Flow	115.88	-107.49	112.12	120.6	-350.21	-2.27
Change in Working Capital	-167.88	-167.88	-22.56	-354.23	-90.82	20.39

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