SHE:000567 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	-16.23	330.12	879.93	700.14	383.36	127.8
Depreciation & Amortization	7.81	7.81	1.75	3.91	0.64	0.56
Other Amortization	3.78	3.78	3.81	-	-	0.07
Asset Writedown & Restructuring Costs	4.88	4.88	-404.81	-43.12	0	0
Loss (Gain) From Sale of Investments	31.23	31.23	10.24	14.98	-21.74	-5.23
Provision & Write-off of Bad Debts	1.59	1.59	2.5	-2.54	33.18	-
Other Operating Activities	1,697	227	187.59	136.61	98.63	98.39
Change in Accounts Receivable	78.56	78.56	-951.21	-663.32	-1,411	-40.73
Change in Accounts Payable	-107	-107	134.72	-8.87	-37.84	28.37
Change in Other Net Operating Assets	4.01	4.01	4.75	-916.29	-	-
Operating Cash Flow	1,697	573.63	-95.97	-771.83	-955.33	209.45
Capital Expenditures	-1.1	-0.58	-0.69	-0.26	-0.27	-0.93
Cash Acquisitions	-	-	-	-	-	-0.2
Investment in Securities	-125.81	19.71	-69.57	-54.76	14.54	-32.82
Other Investing Activities	19.63	19.83	5.37	6.28	4.59	12.18
Investing Cash Flow	-107.28	38.96	-64.9	-48.73	18.86	-21.76
Long-Term Debt Issued	-	1,354	2,040	1,374	1,265	840
Long-Term Debt Repaid	-	-1,257	-1,248	-542.25	-1,050	-933.28
Net Debt Issued (Repaid)	-1,087	96.28	792.46	831.75	215.25	-93.28
Common Dividends Paid	-238.22	-821.66	-747.19	-411.66	-93.05	-93.07
Other Financing Activities	0.67	10.41	269.69	0.74	0.74	-0.34
Financing Cash Flow	-1,325	-714.97	314.96	420.84	122.94	-186.69
Foreign Exchange Rate Adjustments	-0.02	0.32	-0.47	2.48	-2.93	-
Net Cash Flow	265.08	-102.07	153.62	-397.25	-816.46	0.99
Free Cash Flow	1,696	573.04	-96.66	-772.08	-955.6	208.52
Free Cash Flow Margin	366.27%	66.52%	-7.86%	-72.64%	-143.37%	66.88%
Free Cash Flow Per Share	0.87	0.29	-0.05	-0.40	-0.49	0.11
Cash Interest Paid	21.28	17.37	75.43	10.85	-	-
Cash Income Tax Paid	94.61	123.96	131.32	126.16	55.38	18.49
Levered Free Cash Flow	349.51	298.4	377.77	519.39	175.86	97.91
Unlevered Free Cash Flow	491.4	454.66	494.11	602.77	237.5	159.32
Change in Working Capital	-32.77	-32.77	-776.99	-1,582	-1,449	-12.14

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