SHE:000537 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	898.55	1,009	919.58	633.57	-314.96	2,212
Depreciation & Amortization	1,394	1,394	1,390	1,325	1,547	320.22
Other Amortization	1.84	1.84	0.91	0.73	3.76	5.3
Loss (Gain) on Sale of Assets	-79.09	-79.09	-1.25	0.01	-1.91	0.03
Loss (Gain) on Sale of Investments	10.88	10.88	-28.66	-1.17	-126.82	11.83
Asset Writedown	-0.17	-0.17	-0.13	-	2,366	360.57
Change in Accounts Receivable	-516.95	-516.95	-1,320	177.65	1,007	-830.23
Change in Inventory	1.74	1.74	0.87	0.15	-2,042	-2,213
Change in Accounts Payable	-828.51	-828.51	887.34	-11,179	555.6	-7,194
Other Operating Activities	3,607	700.37	619.39	827.06	2,095	682.9
Operating Cash Flow	4,597	1,800	2,539	-8,207	4,993	-6,385
Operating Cash Flow Growth	191.53%	-29.09%	-	-	-	-
Capital Expenditures	-9,372	-21,046	-24,947	-3,109	-2,934	-190.04
Sale of Property, Plant & Equipment	1,694	1,694	0.14	-	0.19	0.02
Cash Acquisitions	32.07	-191.3	-7.51	-	-931.33	-187.47
Divestitures	-	-	-	11,673	5.53	-
Investment in Securities	-30	-30	-	-29.95	2,584	-
Other Investing Activities	-	9.91	50.47	3,163	666.3	1.42
Investing Cash Flow	-7,675	-19,563	-24,904	11,697	-608.68	-376.06
Long-Term Debt Issued	-	29,433	30,621	2,473	28,845	16,362
Long-Term Debt Repaid	-	-15,988	-5,369	-8,693	-27,592	-4,693
Net Debt Issued (Repaid)	4,943	13,445	25,253	-6,220	1,253	11,668
Issuance of Common Stock	-	1,800	-	-	-	-
Common Dividends Paid	-1,701	-1,582	-797.91	-848.74	-3,234	-1,928
Other Financing Activities	1,035	1,588	2,036	-2.4	-138.53	-1.11
Financing Cash Flow	4,277	15,252	26,491	-7,071	-2,119	9,739
Net Cash Flow	1,199	-2,511	4,126	-3,581	2,265	2,978
Free Cash Flow	-4,775	-19,246	-22,408	-11,316	2,059	-6,575
Free Cash Flow Margin	-103.29%	-501.17%	-607.17%	-329.93%	10.52%	-73338.69%
Free Cash Flow Per Share	-2.30	-9.54	-11.94	-6.07	1.11	-3.54
Cash Income Tax Paid	400.2	374.53	238.85	20.38	2,602	2,566
Levered Free Cash Flow	-5,343	-19,935	-20,097	10,985	18,194	-12,324
Unlevered Free Cash Flow	-4,948	-19,606	-19,771	11,441	19,436	-11,898
Change in Working Capital	-1,370	-1,370	-450.77	-11,000	-647.22	-9,977

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