SHE:000630 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	2,415	2,809	2,699	4,184	3,101
Depreciation & Amortization	3,211	2,844	3,208	2,414	1,941
Loss (Gain) From Sale of Assets	-0.32	-3.11	-18.76	-32.46	-20.93
Asset Writedown & Restructuring Costs	405.61	-93.25	148.24	-314.73	594.09
Loss (Gain) From Sale of Investments	-123.68	-95.84	-154.93	-217.39	-420.71
Provision & Write-off of Bad Debts	35.94	32.37	2.7	1.62	34.88
Other Operating Activities	3,731	1,956	1,927	2,860	990.37
Change in Accounts Receivable	-3,973	-1,331	-2,741	1,397	-4,747
Change in Inventory	-12,500	-2,803	1,689	-1,007	-692.86
Change in Accounts Payable	6,389	-1,960	-717.06	-166.49	2,582
Change in Other Net Operating Assets	40.09	12.06	193.88	-14.98	11.94
Operating Cash Flow	-226.94	1,388	5,925	9,156	3,413
Operating Cash Flow Growth	-	-76.58%	-35.29%	168.26%	58.26%
Capital Expenditures	-3,188	-4,359	-2,751	-2,176	-1,424
Sale of Property, Plant & Equipment	3.27	9.35	38.61	39.5	59.39
Cash Acquisitions	-	-	-	-	-0.92
Divestitures	-	-	-	-	-233.91
Investment in Securities	-982.01	689.85	925.5	-1,237	-526.58
Other Investing Activities	234.21	284.33	338.35	719.26	168.67
Investing Cash Flow	-3,933	-3,376	-1,448	-2,655	-1,958
Long-Term Debt Issued	30,869	18,808	18,761	16,302	19,274
Long-Term Debt Repaid	-22,428	-18,178	-21,745	-20,885	-19,658
Net Debt Issued (Repaid)	8,440	629.02	-2,984	-4,582	-384.12
Issuance of Common Stock	-	-	2,146	-	-
Repurchase of Common Stock	-202.51	-29.37	-	-	-
Common Dividends Paid	-2,585	-1,632	-1,486	-1,938	-1,149
Other Financing Activities	-1,427	-285.68	-1,069	3,361	-50.49
Financing Cash Flow	4,226	-1,318	-3,393	-3,160	-1,584
Foreign Exchange Rate Adjustments	12.96	25.22	6.62	249.75	-79.22
Net Cash Flow	79.55	-3,280	1,090	3,591	-208
Free Cash Flow	-3,415	-2,972	3,174	6,980	1,989
Free Cash Flow Growth	-	-	-54.53%	250.98%	211.91%
Free Cash Flow Margin	-1.98%	-2.04%	2.31%	5.73%	1.52%
Free Cash Flow Per Share	-0.27	-0.22	0.25	0.55	0.19
Cash Income Tax Paid	5,999	4,469	4,085	3,553	1,670
Levered Free Cash Flow	-3,211	-2,147	1,387	240.8	1,451
Unlevered Free Cash Flow	-2,770	-1,687	2,029	800.9	1,902
Change in Working Capital	-9,903	-6,072	-1,887	261.57	-2,807

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