SHE:000697 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	-518.39	-261.92	-261.66	-802.11	-554.67
Depreciation & Amortization	159.3	138.5	146.21	123.4	123.7
Other Amortization	4.52	26.85	14.25	3.55	9.87
Loss (Gain) From Sale of Assets	-0.64	2.32	-0.55	-0.32	-1.78
Asset Writedown & Restructuring Costs	226.27	36.36	5.2	289.42	252.61
Loss (Gain) From Sale of Investments	2.64	-0.2	0.96	76.72	1.73
Provision & Write-off of Bad Debts	-	10.28	-0.29	3.55	9.9
Other Operating Activities	78.68	162.77	188.64	255.68	121.96
Change in Accounts Receivable	-85.43	-125.55	-181.04	47.43	-112.06
Change in Inventory	-131.08	-49.58	-99.41	-94.49	3.88
Change in Accounts Payable	125.54	-7.02	-33.64	15.14	-68.23
Operating Cash Flow	-86.5	-96.96	-246.01	-56.47	-180.35
Capital Expenditures	-124.99	-175.83	-161.07	-146.09	-123.97
Sale of Property, Plant & Equipment	15.54	0.41	21.72	18.02	19.41
Divestitures	-	6.7	-	-	-
Investment in Securities	-	-	-	0.28	0.11
Other Investing Activities	15.68	-1.57	3.5	-6.48	-
Investing Cash Flow	-93.78	-170.3	-135.85	-134.27	-104.46
Long-Term Debt Issued	2,062	2,615	3,457	842.41	2,757
Total Debt Issued	2,062	2,615	3,457	842.41	2,757
Long-Term Debt Repaid	-1,792	-2,751	-3,287	-596.09	-2,293
Total Debt Repaid	-1,792	-2,751	-3,287	-596.09	-2,293
Net Debt Issued (Repaid)	270.11	-135.38	170.25	246.32	463.97
Issuance of Common Stock	1,238	-	1,084	-	4.8
Common Dividends Paid	-10.26	-117.51	-181.68	-156.47	-181.77
Other Financing Activities	-12.69	195.84	-202.19	64.5	-1.09
Financing Cash Flow	1,485	-57.06	870.41	154.36	285.92
Foreign Exchange Rate Adjustments	-55.66	-44.18	-52.52	-30.69	-5.01
Net Cash Flow	1,249	-368.49	436.02	-67.07	-3.9
Free Cash Flow	-211.49	-272.79	-407.09	-202.56	-304.32
Free Cash Flow Margin	-11.29%	-15.59%	-26.86%	-16.39%	-30.86%
Free Cash Flow Per Share	-0.21	-0.31	-0.61	-0.30	-0.45
Cash Income Tax Paid	144.91	148.9	220.32	140.63	128.27
Levered Free Cash Flow	-307.07	-194.97	-542.95	-226.63	-414.64
Unlevered Free Cash Flow	-307.07	-89.31	-423.32	-117.09	-335.78
Change in Working Capital	-38.89	-211.93	-338.78	-6.34	-143.67

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