SHE:000691 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	-35.8	-105.03	-104.28	1.34	16.2
Depreciation & Amortization	32.64	35.66	36.46	38.56	36.74
Other Amortization	2.68	0.67	0.14	0.16	0.01
Loss (Gain) From Sale of Assets	-	-	-0.01	-	0.07
Asset Writedown & Restructuring Costs	0.58	70.16	73.56	-	0.04
Loss (Gain) From Sale of Investments	-14.84	-0.01	-	-	-
Provision & Write-off of Bad Debts	0.33	-1.05	8.63	0.89	-
Other Operating Activities	11.11	8.22	11.67	27.26	41.91
Change in Accounts Receivable	-47.28	-59.45	7.98	-47.81	-16.91
Change in Inventory	12.79	22.18	-16.1	34.57	4.41
Change in Accounts Payable	52.47	22.12	9.25	-27.69	-17.22
Change in Other Net Operating Assets	-	-	-	-	1.04
Operating Cash Flow	14.15	-0.98	21	26.47	66.13
Operating Cash Flow Growth	-	-	-20.66%	-59.97%	-
Capital Expenditures	-0.11	-11.08	-7.64	-4.23	-8.98
Sale of Property, Plant & Equipment	-	-	0.02	-	0.07
Cash Acquisitions	-	-	-	-	-30
Investment in Securities	5	-5	-	-	-
Other Investing Activities	0.01	0.01	-	-	-
Investing Cash Flow	4.9	-16.07	-7.62	-4.23	-38.92
Short-Term Debt Issued	7	-	-	98.11	159.8
Long-Term Debt Issued	97	129.85	252.79	-	-
Total Debt Issued	104	129.85	252.79	98.11	159.8
Short-Term Debt Repaid	-7	-	-	-98.16	-161.81
Long-Term Debt Repaid	-98	-97.5	-146.75	-3.6	-8.93
Total Debt Repaid	-105	-97.5	-146.75	-101.76	-170.74
Net Debt Issued (Repaid)	-1	32.35	106.04	-3.65	-10.94
Common Dividends Paid	-13.52	-13.12	-7.84	-7.19	-6.72
Other Financing Activities	72.28	-1.15	-110.08	-5.88	-
Financing Cash Flow	57.75	18.07	-11.88	-16.72	-17.66
Foreign Exchange Rate Adjustments	-	0.34	0.07	0.25	-0.43
Net Cash Flow	76.8	1.36	1.57	5.77	9.12
Free Cash Flow	14.04	-12.06	13.36	22.24	57.15
Free Cash Flow Growth	-	-	-39.92%	-61.08%	-
Free Cash Flow Margin	2.70%	-2.72%	3.58%	4.06%	10.96%
Free Cash Flow Per Share	0.04	-0.04	0.04	0.03	0.18
Cash Income Tax Paid	11.08	6.47	9.63	16.7	19.05
Levered Free Cash Flow	176.65	7.23	-49.01	-7	-118.17
Unlevered Free Cash Flow	185.35	16.98	-41.22	0.52	-108.74
Change in Working Capital	17.45	-9.59	-5.18	-41.74	-28.85

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