SHE:000828 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	823.51	955.2	666.76	827.89	929.63
Depreciation & Amortization	278	291.01	297.56	241.21	252.56
Other Amortization	14.92	10.74	8.23	4.44	4.44
Loss (Gain) From Sale of Assets	-1.37	1.81	0.98	-0.1	-
Asset Writedown & Restructuring Costs	0.16	0.43	1.98	0.01	0.13
Loss (Gain) From Sale of Investments	-281.81	-405.8	222.74	-158.48	-181.27
Provision & Write-off of Bad Debts	240.22	164.19	17.02	12.59	-25.78
Other Operating Activities	41.42	89.82	115.9	125.94	110.31
Change in Accounts Receivable	1,175	201.27	-858.99	-1,993	271.12
Change in Inventory	0	0	0	-0	-0
Change in Accounts Payable	14.28	-43.84	-94.95	18.81	-96.77
Change in Other Net Operating Assets	81.27	139.14	91.36	61.58	42.39
Operating Cash Flow	2,320	1,373	388.78	-902.12	1,319
Operating Cash Flow Growth	68.97%	253.10%	-	-	-53.86%
Capital Expenditures	-1,371	-1,910	-2,829	-4,410	-3,762
Sale of Property, Plant & Equipment	3.31	3.75	0.12	-	-
Cash Acquisitions	-	-	-584.84	60.37	-
Divestitures	-	3,344	-	-	-
Investment in Securities	213.92	440.15	-31.77	-244.93	-3.54
Other Investing Activities	192.77	157.28	-82.48	72.25	109.13
Investing Cash Flow	-960.95	2,035	-3,528	-4,523	-3,656
Long-Term Debt Issued	1,097	6,370	7,128	9,137	2,257
Long-Term Debt Repaid	-3,295	-9,611	-8,197	-3,724	-1,880
Net Debt Issued (Repaid)	-2,199	-3,240	-1,069	5,413	377.36
Issuance of Common Stock	-	1,615	-	1,599	-
Common Dividends Paid	-665.41	-781.27	-658.08	-526.27	-1,100
Other Financing Activities	42.29	-107.51	2,884	1,321	1,565
Financing Cash Flow	-2,822	-2,514	1,157	7,807	842.57
Foreign Exchange Rate Adjustments	-0	0	0	0.02	-0.01
Net Cash Flow	-1,463	893.84	-1,982	2,382	-1,495
Free Cash Flow	948.61	-537.34	-2,440	-5,312	-2,443
Free Cash Flow Margin	61.12%	-31.76%	-52.04%	-129.45%	-45.91%
Free Cash Flow Per Share	0.91	-0.52	-2.35	-5.11	-2.35
Cash Interest Paid	0.27	0.4	0.27	0.14	0.15
Cash Income Tax Paid	375.3	394.07	113.45	-223.02	318.34
Levered Free Cash Flow	-222.12	-4,027	-2,290	-2,737	-3,499
Unlevered Free Cash Flow	-182.44	-3,956	-2,208	-2,657	-3,432
Change in Working Capital	1,205	265.39	-942.39	-1,956	229.03

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