SHE:000590 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-50.07	-125.47	25.25	18.11	35.44
Depreciation & Amortization	32.13	28.85	28.04	24.36	19.48
Other Amortization	1.67	1.26	1.1	0.97	1.2
Loss (Gain) From Sale of Assets	-2.42	-0	-13.33	-0.02	-0.51
Asset Writedown & Restructuring Costs	26.81	118.71	5.59	0.67	2.02
Loss (Gain) From Sale of Investments	-0.78	0.5	-2.79	-2.77	-3.33
Other Operating Activities	9.39	2.7	4.99	2.07	-1.86
Change in Accounts Receivable	38.52	-4.29	-45.83	2.92	-26.83
Change in Inventory	14.46	5.13	-11.64	-7.33	-35.57
Change in Accounts Payable	-34.32	-32.03	-28.32	15.52	35.66
Change in Other Net Operating Assets	-0.38	26.9	7.96	-0.98	-0.1
Operating Cash Flow	28.96	17.39	-29.39	54.47	25.2
Operating Cash Flow Growth	66.54%	-	-	116.20%	-51.06%
Capital Expenditures	-48.81	-32.1	-22.04	-18.68	-25.88
Sale of Property, Plant & Equipment	0.13	0.01	0.2	2.67	0.71
Cash Acquisitions	-	-	-	-214.52	-
Investment in Securities	-	-	25	50	-94
Other Investing Activities	60.3	0.54	0.99	2.99	3.18
Investing Cash Flow	11.62	-31.55	4.15	-177.54	-115.98
Long-Term Debt Issued	48.68	38.11	20	130.8	0.05
Total Debt Issued	48.68	38.11	20	130.8	0.05
Long-Term Debt Repaid	-71.9	-38.22	-48.13	-20.94	-7.79
Total Debt Repaid	-71.9	-38.22	-48.13	-20.94	-7.79
Net Debt Issued (Repaid)	-23.22	-0.11	-28.13	109.86	-7.74
Common Dividends Paid	-3.35	-3.47	-4.2	-0.34	-0.06
Other Financing Activities	-4.59	0.26	0.82	2	2
Financing Cash Flow	-31.17	-3.31	-31.51	111.52	-5.81
Net Cash Flow	9.41	-17.47	-56.75	-11.55	-96.59
Free Cash Flow	-19.85	-14.71	-51.43	35.79	-0.68
Free Cash Flow Margin	-5.88%	-4.29%	-12.71%	10.21%	-0.23%
Free Cash Flow Per Share	-0.08	-0.06	-0.21	0.15	-0.00
Cash Income Tax Paid	46.31	36.36	52.07	32.68	32.78
Levered Free Cash Flow	53.42	-8.13	-64.34	21.79	-23.75
Unlevered Free Cash Flow	53.42	-5.84	-61.55	22.52	-23.45
Change in Working Capital	12.23	-9.14	-78.24	11.08	-27.24

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