SHE:000576 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	75.76	20.51	-233.07	118.44	31.86
Depreciation & Amortization	24.78	21.05	19.88	16.53	11.96
Other Amortization	2.83	3.42	5.75	0.75	-
Loss (Gain) From Sale of Assets	0.01	-0.11	0.05	-0.02	0.04
Asset Writedown & Restructuring Costs	-8.04	-0.17	256.7	-	57.68
Loss (Gain) From Sale of Investments	-37.78	8.62	-7.43	-14.39	-27.44
Provision & Write-off of Bad Debts	-	-	-	-	1.12
Other Operating Activities	10.99	-0.49	-6.7	7.04	11.42
Change in Accounts Receivable	51.51	-108.16	34.13	-128.35	10.09
Change in Inventory	-131	-15.44	-3.8	-36.58	-32.17
Change in Accounts Payable	79.84	7.3	-15.34	-32.7	43.3
Change in Other Net Operating Assets	-5.3	8.94	-4.42	19.45	12.16
Operating Cash Flow	79.59	-55.83	42.62	-53.07	120.38
Capital Expenditures	-11.12	-12.31	-23.2	-30.59	-17.1
Sale of Property, Plant & Equipment	0.16	0.04	0.29	1.28	0.2
Cash Acquisitions	-213.25	-	-11.11	-42	-112.2
Divestitures	48.35	0.76	-	-	-
Investment in Securities	165.95	-79.71	108.09	151.54	-247.17
Other Investing Activities	10.46	9.7	1.89	3.4	6.79
Investing Cash Flow	0.55	-80.81	76.8	84.5	-368.63
Short-Term Debt Issued	74.82	12.21	-	-	-
Total Debt Issued	74.82	12.21	-	-	-
Long-Term Debt Repaid	-63.1	-7.03	-8.48	-4	-0.7
Total Debt Repaid	-63.1	-7.03	-8.48	-4	-0.7
Net Debt Issued (Repaid)	11.72	5.18	-8.48	-4	-0.7
Repurchase of Common Stock	-	-35.67	-1.16	-	-
Common Dividends Paid	-2.61	-0.49	-0.21	-0.4	-85.53
Other Financing Activities	-8.63	0.1	-1	-2.18	-57.04
Financing Cash Flow	0.47	-30.89	-10.85	-6.58	-143.27
Foreign Exchange Rate Adjustments	-0.01	0	0	-0.01	-0.01
Net Cash Flow	80.6	-167.52	108.59	24.84	-391.53
Free Cash Flow	68.46	-68.14	19.42	-83.65	103.28
Free Cash Flow Margin	13.54%	-17.20%	6.01%	-18.78%	19.14%
Free Cash Flow Per Share	0.15	-0.17	0.04	-0.19	0.23
Cash Income Tax Paid	-	20.29	48.92	29.05	-2.88
Levered Free Cash Flow	-19.58	-102.37	3.98	-114.87	10.8
Unlevered Free Cash Flow	-17.46	-100.61	5.92	-112.96	11.9
Change in Working Capital	11.05	-108.67	7.44	-181.41	33.75

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.