SHE:000719 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	-	1,030	1,389	1,032	975.09
Depreciation & Amortization	-	262.18	291.17	259.57	256.44
Other Amortization	-	40.47	30.47	25.18	30.41
Loss (Gain) From Sale of Assets	-	-2.58	-1.32	-1.21	-0.68
Asset Writedown & Restructuring Costs	-	0.97	2.14	2.16	0.25
Loss (Gain) From Sale of Investments	-	-0.02	-10.22	-19.63	-15.38
Provision & Write-off of Bad Debts	-	48.9	67.6	98.28	29.91
Other Operating Activities	-	128.64	159.97	192.35	169.02
Change in Accounts Receivable	-	-155.51	222.89	-420.58	209.87
Change in Inventory	-	-22.57	11.4	-4.03	-168.74
Change in Accounts Payable	-	-199.17	261.36	428.8	108.81
Operating Cash Flow	-	1,369	2,190	1,599	1,585
Operating Cash Flow Growth	-	-37.47%	36.93%	0.87%	-4.45%
Capital Expenditures	-	-332.89	-524.02	-578.92	-663.11
Sale of Property, Plant & Equipment	-	2.58	4.13	2.16	1.68
Divestitures	-	-	0.75	-	-
Investment in Securities	-	-1,259	-1,220	-720.64	-1,626
Other Investing Activities	-	105.46	55.57	29.3	12.64
Investing Cash Flow	-	-1,484	-1,683	-1,268	-2,274
Long-Term Debt Repaid	-	-47.73	-41.95	-52.68	-59.62
Total Debt Repaid	-	-47.73	-41.95	-52.68	-59.62
Net Debt Issued (Repaid)	-	-47.73	-41.95	-52.68	-59.62
Common Dividends Paid	-	-429.75	-388.82	-337.66	-317.19
Other Financing Activities	-	13.19	14.72	-19.27	-11.21
Financing Cash Flow	-	-464.29	-416.04	-409.61	-388.02
Foreign Exchange Rate Adjustments	-	-0	-0.02	-0	-0
Net Cash Flow	-	-579.03	90.42	-78.49	-1,077
Free Cash Flow	-	1,036	1,666	1,020	922.31
Free Cash Flow Growth	-	-37.79%	63.26%	10.63%	-25.13%
Free Cash Flow Margin	-	10.51%	16.94%	10.60%	9.96%
Free Cash Flow Per Share	-	1.02	1.63	1.00	0.90
Cash Income Tax Paid	-	480.29	221.24	182.02	176.49
Levered Free Cash Flow	-	717.21	1,509	703.87	713.18
Unlevered Free Cash Flow	-	717.26	1,510	707.38	714.12
Change in Working Capital	-	-139.22	261.16	10.35	140.35

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