SHE:000786 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	2,906	3,647	3,524	3,144	3,513
Depreciation & Amortization	1,090	1,050	855.37	800.61	730.75
Other Amortization	28.11	29.95	26.41	23.7	8.15
Loss (Gain) From Sale of Assets	-40.59	-3.78	-0.21	-477.52	-3.16
Asset Writedown & Restructuring Costs	85.69	46.71	91.64	93.8	28.58
Loss (Gain) From Sale of Investments	-10.07	-26.45	-68.19	-20.89	4.45
Provision & Write-off of Bad Debts	66.88	1.57	19.46	75.46	18.46
Other Operating Activities	141.37	179.77	128.19	153.01	138.26
Change in Accounts Receivable	-318.56	592.09	554.16	-354.48	-174.74
Change in Inventory	185.31	277.76	146.71	-66.42	-833.02
Change in Accounts Payable	79.74	-603.34	-551.85	343.44	403.85
Operating Cash Flow	4,204	5,134	4,734	3,677	3,831
Operating Cash Flow Growth	-18.12%	8.45%	28.76%	-4.02%	110.80%
Capital Expenditures	-1,192	-1,194	-1,162	-1,453	-1,628
Sale of Property, Plant & Equipment	49.89	290.59	146.34	386.95	4.05
Cash Acquisitions	-112.81	-2,586	-	-1.67	-234.92
Divestitures	-	-	1.38	-	-
Investment in Securities	472.86	600.5	-1,568	-1,379	-1,300
Other Investing Activities	62.2	52.66	51.35	37.32	7.94
Investing Cash Flow	-720.34	-2,836	-2,531	-2,409	-3,151
Long-Term Debt Issued	2,800	1,555	1,550	5,017	5,800
Long-Term Debt Repaid	-3,686	-2,202	-2,258	-5,093	-4,557
Net Debt Issued (Repaid)	-886.09	-646.43	-707.95	-75.62	1,242
Issuance of Common Stock	217.71	-	-	-	-
Common Dividends Paid	-1,492	-1,481	-1,191	-1,202	-1,023
Other Financing Activities	-559.15	-8.43	-325.34	-65.17	-930.27
Financing Cash Flow	-2,719	-2,136	-2,224	-1,342	-711.19
Foreign Exchange Rate Adjustments	-2.39	-0.99	-1.78	2.47	-2.2
Net Cash Flow	761.94	161.06	-22.14	-72.13	-33.02
Free Cash Flow	3,011	3,940	3,572	2,224	2,203
Free Cash Flow Growth	-23.57%	10.31%	60.62%	0.95%	370.76%
Free Cash Flow Margin	11.91%	15.26%	15.93%	11.03%	10.45%
Free Cash Flow Per Share	1.78	2.33	2.11	1.32	1.30
Cash Interest Paid	4	3.81	2.68	3.31	6.04
Cash Income Tax Paid	1,103	1,099	958.64	604.08	849.37
Levered Free Cash Flow	1,943	3,489	1,105	2,389	414.6
Unlevered Free Cash Flow	1,970	3,547	1,162	2,457	474.94
Change in Working Capital	-63.86	209.87	157.71	-115.78	-607.27

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