SHE:000720 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-93.21	-132.29	-65.88	-130.45	-94.34	278.9
Depreciation & Amortization	28.05	28.05	41.79	52.32	36.93	22.33
Other Amortization	2.77	2.77	2.29	1.89	1.08	6.06
Loss (Gain) From Sale of Assets	-	-	-10.53	-7.25	-	-
Asset Writedown & Restructuring Costs	0.01	0.01	-0.01	-0.01	-0.2	-0
Loss (Gain) From Sale of Investments	82.37	82.37	-9.6	-7.35	-1.85	-6.51
Provision & Write-off of Bad Debts	-6.22	-6.22	-7.45	8.75	6.28	-0.48
Other Operating Activities	770.58	71.81	81.36	100.6	97.2	70.13
Change in Accounts Receivable	-127.61	-127.61	197.61	201.68	-68.74	-985.3
Change in Inventory	-310.84	-310.84	-81.68	-367.45	-345.75	819.91
Change in Accounts Payable	152.91	152.91	-192.59	179.67	-341.68	214.1
Change in Other Net Operating Assets	-41.92	-41.92	-16.03	-1.62	2.08	-2.08
Operating Cash Flow	459.03	-278.83	-57.72	26.04	-709.96	416.95
Capital Expenditures	-3.74	-5.1	-7.29	-9.35	-10.13	-11.62
Sale of Property, Plant & Equipment	0.11	0.02	6.82	0.49	0.28	-
Investment in Securities	-	-	-	-	-190	-10
Other Investing Activities	0.29	0.74	0.49	0.46	7.13	0.16
Investing Cash Flow	-3.34	-4.35	0.02	-8.39	-192.72	-21.47
Long-Term Debt Issued	-	2,301	2,253	1,935	2,113	1,380
Long-Term Debt Repaid	-	-1,864	-2,263	-1,864	-1,632	-1,241
Net Debt Issued (Repaid)	211.61	437.19	-10.7	70.82	481.04	138.38
Repurchase of Common Stock	-	-	-	-	-	-9.53
Common Dividends Paid	-70.99	-78.76	-94.52	-84.76	-65.22	-60.18
Other Financing Activities	-554.77	-6.26	-12.25	-6.41	-2.1	-0.84
Financing Cash Flow	-414.15	352.18	-117.47	-20.35	413.72	67.83
Net Cash Flow	41.54	69	-175.17	-2.71	-488.95	463.32
Free Cash Flow	455.28	-283.93	-65.01	16.68	-720.08	405.33
Free Cash Flow Margin	32.54%	-24.48%	-4.46%	0.42%	-17.22%	10.52%
Free Cash Flow Per Share	0.37	-0.23	-0.05	0.01	-0.57	0.32
Cash Income Tax Paid	12.15	9.06	37.32	66.51	387.51	166.54
Levered Free Cash Flow	336.99	-334.26	-117.17	-41.66	-781.67	307.8
Unlevered Free Cash Flow	375.69	-294.37	-72.19	16.8	-729.29	347.24
Change in Working Capital	-325.32	-325.32	-89.69	7.54	-755.05	46.53

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.