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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	702.95	380.23	330.12	879.93	700.14	383.36
Depreciation & Amortization	12.63	12.63	7.81	1.75	3.91	0.64
Other Amortization	-	-	3.78	3.81	-	-
Asset Writedown & Restructuring Costs	10.36	10.36	4.88	-404.81	-43.12	0
Loss (Gain) From Sale of Investments	-1.19	-1.19	31.23	10.24	14.98	-21.74
Provision & Write-off of Bad Debts	-	-	1.59	2.5	-2.54	33.18
Other Operating Activities	-237.02	81.96	227	187.59	136.61	98.63
Change in Accounts Receivable	790.79	790.79	78.56	-951.21	-663.32	-1,411
Change in Accounts Payable	-64.97	-64.97	-107	134.72	-8.87	-37.84
Change in Other Net Operating Assets	-6.27	-6.27	4.01	4.75	-916.29	-
Operating Cash Flow	1,229	1,225	573.63	-95.97	-771.83	-955.33
Operating Cash Flow Growth	133.48%	113.52%	-	-	-	-
Capital Expenditures	-2.72	-2.78	-0.58	-0.69	-0.26	-0.27
Investment in Securities	-137.4	-120.04	19.71	-69.57	-54.76	14.54
Other Investing Activities	12.95	12.3	19.83	5.37	6.28	4.59
Investing Cash Flow	-127.17	-110.53	38.96	-64.9	-48.73	18.86
Long-Term Debt Issued	-	922.3	1,354	2,040	1,374	1,265
Long-Term Debt Repaid	-	-1,735	-1,257	-1,248	-542.25	-1,050
Net Debt Issued (Repaid)	-812.93	-812.35	96.28	792.46	831.75	215.25
Common Dividends Paid	-199.76	-214.18	-821.66	-747.19	-411.66	-93.05
Other Financing Activities	-8	-10.6	10.41	269.69	0.74	0.74
Financing Cash Flow	-1,021	-1,037	-714.97	314.96	420.84	122.94
Foreign Exchange Rate Adjustments	-0.39	-0.23	0.32	-0.47	2.48	-2.93
Net Cash Flow	80.32	76.95	-102.07	153.62	-397.25	-816.46
Free Cash Flow	1,226	1,222	573.04	-96.66	-772.08	-955.6
Free Cash Flow Growth	133.16%	113.25%	-	-	-	-
Free Cash Flow Margin	119.04%	173.65%	66.52%	-7.86%	-72.64%	-143.37%
Free Cash Flow Per Share	0.63	0.63	0.29	-0.05	-0.40	-0.49
Cash Interest Paid	22.35	13.8	17.37	75.43	10.85	-
Cash Income Tax Paid	82.28	89.71	123.96	131.32	126.16	55.38
Levered Free Cash Flow	1,279	1,136	298.4	377.77	519.39	175.86
Unlevered Free Cash Flow	1,279	1,136	454.66	494.11	602.77	237.5
Change in Working Capital	740.83	740.83	-32.77	-776.99	-1,582	-1,449

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