SHE:000628 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	61.37	365.94	199.07	163.35
Depreciation & Amortization	65.48	50.44	38.89	26.96
Other Amortization	4.86	4.46	3.66	4.58
Loss (Gain) From Sale of Assets	-16.91	-0.02	-0.03	-0.01
Asset Writedown & Restructuring Costs	105.35	3.07	0	0.01
Loss (Gain) From Sale of Investments	-13.57	-260.8	-93.53	-41.38
Provision & Write-off of Bad Debts	-10.15	-40.57	91.62	65.3
Other Operating Activities	87.62	52.58	68.92	72.76
Change in Accounts Receivable	-1,562	-358.99	-2,020	-2,078
Change in Inventory	-17.95	-55.89	-30.13	6.52
Change in Accounts Payable	628.24	-344.54	1,907	2,256
Change in Other Net Operating Assets	12.25	-0.93	1.78	-
Operating Cash Flow	-660.35	-527.29	139.66	458.9
Operating Cash Flow Growth	-	-	-69.57%	186.31%
Capital Expenditures	-76.37	-299.9	-56.57	-63.47
Sale of Property, Plant & Equipment	5.97	0.08	15.93	0.25
Cash Acquisitions	-	-	-281.07	-73.18
Divestitures	-	-311.65	111.43	86.08
Investment in Securities	11.36	-432.87	-82.68	-24.89
Other Investing Activities	65.35	71.83	26.6	17.23
Investing Cash Flow	6.3	-972.52	-266.36	-57.98
Long-Term Debt Issued	1,498	1,723	1,885	980
Long-Term Debt Repaid	-1,003	-1,055	-1,324	-826.72
Net Debt Issued (Repaid)	494.75	667.34	560.63	153.28
Common Dividends Paid	-129.9	-89.46	-82.46	-92.98
Other Financing Activities	-0.12	-11.9	11	3.52
Financing Cash Flow	364.72	565.99	489.17	63.82
Foreign Exchange Rate Adjustments	-0.01	-0.28	-	-
Net Cash Flow	-289.33	-934.1	362.47	464.74
Free Cash Flow	-736.72	-827.19	83.09	395.44
Free Cash Flow Growth	-	-	-78.99%	168.16%
Free Cash Flow Margin	-10.34%	-10.33%	1.26%	5.98%
Free Cash Flow Per Share	-2.09	-2.35	0.24	1.12
Cash Income Tax Paid	234.47	248.93	147.27	166.36
Levered Free Cash Flow	-1,063	-1,332	42.06	403.36
Unlevered Free Cash Flow	-1,011	-1,277	87.09	437.22
Change in Working Capital	-944.4	-702.39	-168.94	167.33

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