SHE:000839 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	117.8	124.47	-77.79	-91.02	-1,388	-1,476
Depreciation & Amortization	101.05	101.05	104.54	114.51	156.41	221.06
Other Amortization	14.72	14.72	29.33	25.88	28.35	35.31
Loss (Gain) From Sale of Assets	-9.42	-9.42	-0.72	-41.15	-6.38	46.79
Asset Writedown & Restructuring Costs	24.47	24.47	0.17	0.13	54.04	398.36
Loss (Gain) From Sale of Investments	61.22	61.22	-68.79	72.44	149.15	454.36
Provision & Write-off of Bad Debts	-	-	5.45	-1.8	16.28	34.52
Other Operating Activities	-233.21	-82.48	305.94	150.25	471.84	332.69
Change in Accounts Receivable	155.3	155.3	-3.91	-67.36	28.38	-199.01
Change in Inventory	193.41	193.41	143.91	-149.09	138.51	-126.43
Change in Accounts Payable	-418.59	-418.59	-585.86	-188.57	85.13	256.94
Operating Cash Flow	7.87	165.28	-145.89	-164.56	-294.49	-74.05
Capital Expenditures	-13.96	-17.24	-33.66	-28.41	-97.77	-13.49
Sale of Property, Plant & Equipment	17.97	12.36	0.27	43.78	0.98	1.97
Divestitures	-	-	-	7.1	57.94	-
Investment in Securities	140.09	128.7	12.14	73.87	473.98	1,397
Other Investing Activities	24.66	18.01	47.27	85.26	267.69	-144.02
Investing Cash Flow	168.77	141.83	26.02	181.59	702.82	1,241
Long-Term Debt Issued	-	1,353	1,553	631.19	670.51	793.37
Long-Term Debt Repaid	-	-1,387	-1,314	-636.74	-1,044	-2,105
Net Debt Issued (Repaid)	-65.3	-34.05	239.38	-5.55	-373.1	-1,312
Common Dividends Paid	-111.11	-113.72	-70.49	-38.89	-95.13	-181.33
Other Financing Activities	-102.63	-96.73	-0.52	-8	-10.5	-7.98
Financing Cash Flow	-279.04	-244.51	168.36	-52.44	-478.73	-1,501
Foreign Exchange Rate Adjustments	-0.03	-0.02	0.01	-0.03	0.08	-0.11
Net Cash Flow	-102.43	62.59	48.51	-35.43	-70.32	-333.95
Free Cash Flow	-6.08	148.05	-179.55	-192.97	-392.26	-87.53
Free Cash Flow Margin	-0.18%	4.46%	-5.29%	-6.47%	-14.49%	-3.29%
Free Cash Flow Per Share	-0.00	0.04	-0.05	-0.05	-0.10	-0.02
Cash Income Tax Paid	249.8	238.3	310.91	335.22	510.43	253.42
Levered Free Cash Flow	447.14	-	-300.59	-219.87	-549.15	639.15
Unlevered Free Cash Flow	447.14	-	-235.14	-130.61	-461.66	754.73
Change in Working Capital	-68.76	-68.76	-444.02	-393.79	223.5	-121.45

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