SHE:000762 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	-58.29	111.74	163.81	795.34	140.16
Depreciation & Amortization	99.2	71.24	201.33	131.38	60.58
Other Amortization	13.6	14.06	1.97	0.62	1.13
Loss (Gain) From Sale of Assets	-	0.06	-	-0.42	-
Asset Writedown & Restructuring Costs	37.32	5.18	10.25	1.05	48.28
Loss (Gain) From Sale of Investments	-29.71	-33.29	-32.33	-28.5	-27.85
Provision & Write-off of Bad Debts	-	-1	-5.92	5.94	-
Other Operating Activities	34.85	62.01	203.81	692.38	46.13
Change in Accounts Receivable	33.95	48.84	-38.31	187.5	-91.47
Change in Inventory	-45.64	112.14	-118.25	-47.2	123.6
Change in Accounts Payable	71.4	-26.02	-5.99	-89.65	96.74
Change in Other Net Operating Assets	-	-	-	6.23	0.77
Operating Cash Flow	156.69	364.96	380.36	1,655	398.07
Operating Cash Flow Growth	-57.07%	-4.05%	-77.01%	315.67%	575.17%
Capital Expenditures	-48.48	-772.17	-530.05	-1,229	-393.4
Sale of Property, Plant & Equipment	0	0.31	0.87	0.62	0.32
Investment in Securities	32.23	-245.5	-354.14	-560.48	-
Other Investing Activities	-133.24	500.54	365.32	26.21	27.21
Investing Cash Flow	-149.49	-516.82	-518	-1,762	-365.87
Long-Term Debt Issued	147.26	197	1,353	1,108	-
Total Debt Issued	147.26	197	1,353	1,108	-
Long-Term Debt Repaid	-70.57	-547.51	-822.69	-5	-105.06
Total Debt Repaid	-70.57	-547.51	-822.69	-5	-105.06
Net Debt Issued (Repaid)	76.7	-350.51	530.21	1,103	-105.06
Issuance of Common Stock	-	-	1.39	9.29	-
Common Dividends Paid	-49.18	-84.65	-269.07	-12.59	-3.61
Other Financing Activities	-158.28	-147.39	-405.06	-	-0.1
Financing Cash Flow	-130.77	-582.55	-142.53	1,099	-108.77
Net Cash Flow	-123.57	-734.42	-280.17	991.75	-76.57
Free Cash Flow	108.21	-407.21	-149.69	426.08	4.67
Free Cash Flow Growth	-	-	-	9032.95%	-63.52%
Free Cash Flow Margin	30.74%	-65.45%	-18.58%	19.29%	0.72%
Free Cash Flow Per Share	0.21	-0.77	-0.28	0.82	0.01
Cash Income Tax Paid	32.04	89.81	426.61	414.44	81.24
Levered Free Cash Flow	-490.54	-765.58	132.16	56.51	21.22
Unlevered Free Cash Flow	-490.54	-739.34	166.33	75.27	23.43
Change in Working Capital	59.71	134.96	-162.55	56.88	129.64

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.