SHE:000778 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	947.16	167.44	1,351	1,676	2,007
Depreciation & Amortization	1,623	1,722	1,637	1,590	1,182
Other Amortization	1.48	0.1	0.08	0.28	0.58
Loss (Gain) From Sale of Assets	-54.99	-441.1	-164.76	-23.4	-161.69
Asset Writedown & Restructuring Costs	3.5	80.47	1.7	46.58	374.82
Loss (Gain) From Sale of Investments	-107.3	-83.44	-683.61	-694.27	-502.5
Provision & Write-off of Bad Debts	60.2	46.34	85.23	28.4	321.7
Other Operating Activities	419.41	488.24	656.29	903.23	642.74
Change in Accounts Receivable	1,289	-909.41	853.75	235.35	675.62
Change in Inventory	-167.1	369.15	-429.62	-46.6	555.39
Change in Accounts Payable	-475.75	-725.9	-1,429	-494.57	-1,930
Operating Cash Flow	3,528	714.71	1,914	3,231	3,169
Operating Cash Flow Growth	393.62%	-62.67%	-40.74%	1.95%	1.58%
Capital Expenditures	-1,104	-954.75	-1,343	-2,344	-3,095
Sale of Property, Plant & Equipment	51.18	216.67	169.79	11.78	1.88
Cash Acquisitions	-1,016	-	-	-	-
Divestitures	-	-	102	5.46	-
Investment in Securities	21.2	225	-4.73	206.82	30.15
Other Investing Activities	58.58	217.53	468.49	238.67	378.99
Investing Cash Flow	-1,988	-315.03	-607.3	-1,881	-2,684
Long-Term Debt Issued	6,978	6,974	7,956	11,642	9,743
Long-Term Debt Repaid	-9,519	-8,099	-8,378	-10,864	-10,119
Net Debt Issued (Repaid)	-2,541	-1,125	-422.43	777.22	-375.59
Repurchase of Common Stock	-	-29.78	-	-35.03	-2.1
Common Dividends Paid	-398.55	-688.08	-983.99	-1,029	-1,179
Other Financing Activities	-57.02	-84.51	-81.57	-21.22	370
Financing Cash Flow	-2,997	-1,927	-1,488	-308.23	-1,187
Foreign Exchange Rate Adjustments	0.38	11.58	-12.09	83.65	-16.46
Net Cash Flow	-1,457	-1,516	-192.95	1,125	-717.75
Free Cash Flow	2,424	-240.04	571.58	886.79	74.41
Free Cash Flow Growth	-	-	-35.55%	1091.79%	-96.67%
Free Cash Flow Margin	6.55%	-0.66%	1.32%	1.86%	0.14%
Free Cash Flow Per Share	0.61	-0.06	0.14	0.22	0.02
Cash Income Tax Paid	1,133	1,008	1,166	943.24	2,287
Levered Free Cash Flow	1,670	-188.11	413.91	434.34	-409.91
Unlevered Free Cash Flow	1,876	53.22	718.98	740.33	-92.98
Change in Working Capital	635.02	-1,265	-968.65	-296.38	-695.13

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