SHE:000782 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	-160.01	-153.41	-70.24	-142.68	-55.21	56.26
Depreciation & Amortization	73.66	73.66	75.84	69.64	74.57	86.51
Other Amortization	1.02	1.02	0.13	-	-	1.69
Loss (Gain) From Sale of Assets	-1.74	-1.74	-0.23	1.02	-1.35	-0.2
Asset Writedown & Restructuring Costs	112.59	112.59	26.83	29.58	2.44	43.44
Loss (Gain) From Sale of Investments	-9.08	-9.08	-1.99	19.94	7.07	1.52
Provision & Write-off of Bad Debts	-	-	-	-	-2.46	2.01
Other Operating Activities	-11.38	3.02	34.99	50.95	41.89	23.59
Change in Accounts Receivable	-114.82	-114.82	-974.48	-811.06	-	-692.94
Change in Inventory	18.51	18.51	11.61	-1.6	-48.56	-55.06
Change in Accounts Payable	85.84	85.84	557.91	402.46	-376.44	563.78
Change in Other Net Operating Assets	-	-	0.64	-0.7	-0.86	-
Operating Cash Flow	-22.14	-1.14	-348.86	-395.32	-365.2	24.48
Capital Expenditures	-1,066	-835.09	-48.45	-237.85	-46.57	-15.53
Sale of Property, Plant & Equipment	2.08	2.08	0.33	0.03	0.09	3.8
Divestitures	-	-	-	-	-	12.61
Investment in Securities	41	-	358.91	-	-3.02	-
Other Investing Activities	6.96	9.73	8.6	8.07	7.44	14.06
Investing Cash Flow	-1,016	-823.28	319.39	-229.75	-42.06	14.94
Long-Term Debt Issued	-	680.07	612.52	1,191	792.45	506.44
Long-Term Debt Repaid	-	-213.5	-931.82	-559.11	-327	-490.6
Net Debt Issued (Repaid)	772.67	466.57	-319.3	632.17	465.45	15.84
Issuance of Common Stock	-	-	586.65	-	-	-
Common Dividends Paid	-12.84	-7.71	-14.87	-40.5	-37.78	-32.18
Other Financing Activities	279.21	121.11	-1.39	-4.58	-1.56	-4.36
Financing Cash Flow	1,039	579.98	251.1	587.09	426.11	-20.7
Foreign Exchange Rate Adjustments	1.51	2.92	5.56	3.46	19.35	2.29
Net Cash Flow	2.78	-241.53	227.19	-34.51	38.21	21.01
Free Cash Flow	-1,088	-836.23	-397.31	-633.16	-411.77	8.95
Free Cash Flow Margin	-44.22%	-34.03%	-12.21%	-22.47%	-14.13%	0.27%
Free Cash Flow Per Share	-1.56	-1.20	-0.57	-1.20	-0.75	0.02
Cash Interest Paid	-	-	-	2.02	1.56	4.36
Cash Income Tax Paid	-	-8.89	-35.74	-10.18	30.85	40.4
Levered Free Cash Flow	-1,005	-580.89	-107.86	-58.61	-62.01	225.13
Unlevered Free Cash Flow	-1,005	-580.89	-99.01	-43.06	-47.35	241.4
Change in Working Capital	-27.2	-27.2	-414.2	-423.77	-432.16	-190.35

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