SHE:000717 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	-1,154	-1,204	49.03	-1,283	1,922
Depreciation & Amortization	1,305	1,287	1,287	1,216	1,043
Other Amortization	6.33	41.32	-	-	-
Loss (Gain) From Sale of Assets	-10.92	-0.91	-184	-6.9	-0.1
Asset Writedown & Restructuring Costs	1,154	50.64	8.02	115.31	75.58
Loss (Gain) From Sale of Investments	-9.99	39.89	34.05	95.86	18.63
Other Operating Activities	132.99	139.88	83.14	117.35	62.21
Change in Accounts Receivable	37.02	-15.55	-0.31	-1,135	653.99
Change in Inventory	319.46	484.71	-122.86	363.49	-495.14
Change in Accounts Payable	-280.22	492.22	224.31	1,789	116.01
Change in Other Net Operating Assets	-	-3.59	4.73	0.87	-0.05
Operating Cash Flow	1,496	1,305	1,347	1,033	3,392
Operating Cash Flow Growth	14.62%	-3.10%	30.36%	-69.53%	10.69%
Capital Expenditures	-940.31	-1,141	-1,297	-1,400	-1,814
Sale of Property, Plant & Equipment	74.63	57.04	475.82	7.55	-
Investment in Securities	24.69	-568.09	-382.99	-560.23	-699.4
Other Investing Activities	109.87	4.14	2.95	-1.92	0.31
Investing Cash Flow	-731.12	-1,648	-1,201	-1,955	-2,513
Long-Term Debt Issued	1,687	1,192	1,720	2,785	2,930
Long-Term Debt Repaid	-2,057	-995.34	-1,451	-3,216	-2,080
Net Debt Issued (Repaid)	-369.96	197.03	269.14	-431.14	850.32
Issuance of Common Stock	-	-	0.37	12.87	-
Common Dividends Paid	-91.17	-81.55	-157.13	-585.47	-611.67
Other Financing Activities	-17.57	-	0.82	-	-
Financing Cash Flow	-478.7	115.47	113.2	-1,004	238.65
Foreign Exchange Rate Adjustments	-32.9	-82.37	-37.94	-0.72	-23.19
Net Cash Flow	253.45	-309.7	221.49	-1,926	1,094
Free Cash Flow	555.86	164.11	50.46	-366.78	1,578
Free Cash Flow Growth	238.71%	225.24%	-	-	-4.08%
Free Cash Flow Margin	2.13%	0.53%	0.13%	-0.93%	3.47%
Free Cash Flow Per Share	0.23	0.07	0.02	-0.15	0.65
Cash Income Tax Paid	194.14	155.85	213.82	300.11	1,034
Levered Free Cash Flow	-	286.19	671.09	293.87	1,223
Unlevered Free Cash Flow	-	349.89	723.95	352.95	1,253
Change in Working Capital	72.27	951.52	70.16	778.7	270.48

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