SHE:000798 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	141.61	-104.01	-118.08	157.56	-85.86
Depreciation & Amortization	261.94	240.74	216.81	215.64	52.31
Other Amortization	22.61	11.57	5.86	1.15	1.15
Loss (Gain) From Sale of Assets	-2.83	-3.11	-2.39	-52.74	-0.51
Asset Writedown & Restructuring Costs	65.74	69.02	42.28	56.14	7.85
Loss (Gain) From Sale of Investments	-4.76	-9.14	-0.88	-0.87	15.8
Other Operating Activities	112.34	116.57	183.21	140.43	9.78
Change in Accounts Receivable	343.38	302.69	186.34	376.4	2.45
Change in Inventory	-1.29	222.69	-594.63	-445.64	82.42
Change in Accounts Payable	-469.02	-321.62	-105.52	-296.36	3.69
Operating Cash Flow	469.65	525.41	-187.01	151.7	89.06
Operating Cash Flow Growth	-10.61%	-	-	70.33%	-
Capital Expenditures	-362.41	-463.98	-153.21	-119.83	-23.31
Sale of Property, Plant & Equipment	25.95	16.02	11.74	102.34	4.8
Investment in Securities	0.05	-2.45	-	-	-0.49
Investing Cash Flow	-336.41	-450.42	-141.47	-17.49	-19
Long-Term Debt Issued	2,094	2,094	3,327	311.4	88.71
Long-Term Debt Repaid	-2,122	-1,887	-1,246	-494.4	-167.54
Net Debt Issued (Repaid)	-28.32	207.36	2,081	-183	-78.83
Issuance of Common Stock	-	-	120	392	-
Common Dividends Paid	-115.72	-83.15	-75.53	-59.39	-4.58
Other Financing Activities	-59.4	-	-1,718	-	-
Financing Cash Flow	-203.43	124.21	407	149.62	-83.41
Foreign Exchange Rate Adjustments	-10.07	3.44	2.62	14.17	-1.26
Net Cash Flow	-80.27	202.65	81.14	298	-14.61
Free Cash Flow	107.24	61.43	-340.22	31.87	65.75
Free Cash Flow Growth	74.59%	-	-	-51.52%	-
Free Cash Flow Margin	2.47%	1.24%	-8.42%	0.80%	14.22%
Free Cash Flow Per Share	0.29	0.17	-0.93	0.09	0.21
Cash Income Tax Paid	11.31	41.81	17.53	14.22	3.91
Levered Free Cash Flow	829.67	-458.22	-303.54	-510.35	59.23
Unlevered Free Cash Flow	829.67	-393.75	-269.52	-489.23	67.23
Change in Working Capital	-126.99	203.76	-513.83	-365.61	88.56

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