SHE:000731 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	75.07	271.74	382.58	622.08	568.95	103.71
Depreciation & Amortization	214.42	214.42	216.33	202.09	205.07	209.13
Other Amortization	1.38	1.38	-	-	-	-
Loss (Gain) From Sale of Assets	-1.55	-1.55	-23.37	-10.91	-5.07	-1.02
Asset Writedown & Restructuring Costs	9.24	9.24	1.2	21.79	39.42	1.62
Loss (Gain) From Sale of Investments	-70.52	-70.52	-45.71	-47.24	-33.88	-13.34
Provision & Write-off of Bad Debts	-3.57	-3.57	-16.51	3.82	12.91	0.79
Other Operating Activities	-292.37	41.22	33.51	121.55	113.42	16.64
Change in Accounts Receivable	-45.22	-45.22	107.83	-31.06	-478.61	-117.81
Change in Inventory	104.87	104.87	-240.14	-30.68	-157.63	64.05
Change in Accounts Payable	-51.59	-51.59	-55.67	161.44	426.33	52.19
Operating Cash Flow	-82.63	447.63	369.54	1,010	677.38	317.66
Operating Cash Flow Growth	-	21.13%	-63.40%	49.07%	113.24%	-15.06%
Capital Expenditures	-72.21	-114.05	-151.52	-184.9	-69	-20.4
Sale of Property, Plant & Equipment	0.41	0.64	33.8	37	6.88	2.93
Divestitures	72.85	72.85	-	-	-	-
Investment in Securities	250	-250	-347.68	-300	-295	-495
Other Investing Activities	34.35	44.15	38.13	32.67	22.6	10.28
Investing Cash Flow	285.4	-246.42	-427.27	-415.24	-334.53	-502.18
Long-Term Debt Issued	-	65.49	86.33	122.57	50	380
Long-Term Debt Repaid	-	-0.47	-20.48	-258.01	-280.75	-355.24
Net Debt Issued (Repaid)	-26.52	65.02	65.86	-135.44	-230.75	24.76
Repurchase of Common Stock	-100.03	-100.03	-95.03	-	-32.11	-
Common Dividends Paid	-161.47	-163.96	-106.14	-107.65	-15.5	-50.12
Other Financing Activities	88.8	19.93	-35.02	-1.3	3.75	-7.41
Financing Cash Flow	-199.22	-179.03	-170.33	-244.39	-274.6	-32.77
Foreign Exchange Rate Adjustments	0.52	0.2	2.53	1.56	0.06	0.52
Net Cash Flow	4.08	22.38	-225.53	351.68	68.31	-216.77
Free Cash Flow	-154.83	333.59	218.02	824.84	608.38	297.26
Free Cash Flow Growth	-	53.01%	-73.57%	35.58%	104.66%	-17.23%
Free Cash Flow Margin	-3.52%	7.32%	5.22%	16.80%	14.87%	10.21%
Free Cash Flow Per Share	-0.28	0.59	0.38	1.41	1.03	0.50
Cash Income Tax Paid	164.65	211.96	287.08	305.38	240.55	109.62
Levered Free Cash Flow	-53.24	360.39	368.32	686.45	334.03	254.28
Unlevered Free Cash Flow	-48.08	365.6	368.53	691.33	343.64	266.92
Change in Working Capital	-14.73	-14.73	-178.5	96.57	-223.44	0.13

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