SHE:000593 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	31.58	20.26	19.05	-241.33	48.24	50.49
Depreciation & Amortization	76.13	76.13	78.25	78.77	76.41	72.05
Other Amortization	9.42	9.42	9.11	7.77	7.05	3.88
Loss (Gain) on Sale of Assets	-0.21	-0.21	-0.03	-6.48	-0.01	-2.92
Loss (Gain) on Sale of Investments	25.02	25.02	3.51	39.04	0.51	0.34
Asset Writedown	0.23	0.23	52.13	267.69	0.05	0.09
Change in Accounts Receivable	-103.44	-103.44	-28.34	58.4	-35.78	6.48
Change in Inventory	18.35	18.35	2.39	3.22	-15.14	-20.58
Change in Accounts Payable	45.77	45.77	-24.78	-13.16	65.88	60.43
Other Operating Activities	41.21	44.97	27.41	41.22	29.05	47.25
Operating Cash Flow	139.3	131.74	135.06	238.42	175.38	210.94
Operating Cash Flow Growth	-5.41%	-2.46%	-43.35%	35.94%	-16.86%	92.21%
Capital Expenditures	-45.3	-46.49	-60.71	-70.7	-55.62	-76.9
Sale of Property, Plant & Equipment	-3.41	0.33	0.26	5.01	0.37	3.01
Cash Acquisitions	-	-	-	-169.12	-	-
Investment in Securities	3.73	3.73	-3.4	-27.5	-3.47	2.11
Other Investing Activities	0.14	0.14	0.12	0.27	0.54	0.79
Investing Cash Flow	-44.83	-42.28	-63.73	-262.04	-58.18	-70.98
Long-Term Debt Issued	-	343.89	314.39	521.09	472.17	746.55
Total Debt Issued	332	343.89	314.39	521.09	472.17	746.55
Short-Term Debt Repaid	-	-	-6.75	-35	-	-
Long-Term Debt Repaid	-	-411.49	-482.33	-374.43	-590.95	-789.3
Total Debt Repaid	-393.18	-411.49	-489.08	-409.43	-590.95	-789.3
Net Debt Issued (Repaid)	-61.18	-67.6	-174.69	111.66	-118.79	-42.75
Repurchase of Common Stock	-	-	-17	-	-	-
Common Dividends Paid	-15.96	-17.05	-23.18	-25.34	-27.72	-39.26
Other Financing Activities	-4.33	3.67	44.87	-	4.54	-2.45
Financing Cash Flow	-81.47	-80.98	-170.01	86.32	-141.97	-84.46
Net Cash Flow	12.99	8.48	-98.67	62.7	-24.77	55.5
Free Cash Flow	94	85.26	74.36	167.72	119.76	134.04
Free Cash Flow Growth	2.00%	14.66%	-55.66%	40.04%	-10.65%	353.89%
Free Cash Flow Margin	6.51%	5.61%	4.28%	10.48%	8.15%	8.89%
Free Cash Flow Per Share	0.27	0.24	0.21	0.47	0.34	0.37
Cash Income Tax Paid	56.05	56.46	63.18	62.55	47.25	56.08
Levered Free Cash Flow	172.04	155.26	97.06	70.61	197.68	99.89
Unlevered Free Cash Flow	172.04	155.26	111.53	86.24	216.7	125.88
Change in Working Capital	-44.08	-44.08	-58.45	47.53	14.43	44.74

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