SHE:000860 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	Jan '22 Jan 1, 2022
Net Income	-311.73	-145.11	231.17	-295.6	-673.23	102.3
Depreciation & Amortization	325.42	325.42	351.39	337.07	305.39	290.06
Other Amortization	3.02	3.02	7.98	24.91	29.54	29.37
Loss (Gain) From Sale of Assets	-0	-0	-0.04	-	-	-0
Asset Writedown & Restructuring Costs	43.68	43.68	61.14	68.41	8.96	3.96
Loss (Gain) From Sale of Investments	-0.51	-0.51	-3.4	-289.02	-1.74	-8.11
Provision & Write-off of Bad Debts	-	-	22.18	2.07	0.7	-0.99
Other Operating Activities	609.2	110.72	174.55	308.59	853.2	334.62
Change in Accounts Receivable	-180.74	-180.74	-265.61	47.67	317.51	27.73
Change in Inventory	610.39	610.39	-98.18	1,255	-883.75	790.46
Change in Accounts Payable	-1,036	-1,036	-363.59	-2,312	1,485	-2,033
Operating Cash Flow	59.28	-272.58	111.67	-738.18	1,450	-348.68
Capital Expenditures	-80.87	-83.56	-73.1	-153.14	-144.35	-119.9
Sale of Property, Plant & Equipment	3.46	1.98	0.08	-	0.01	0.05
Cash Acquisitions	-	-	-	-	-17.49	-
Divestitures	-	-	-	1,850	-	-
Investment in Securities	-	-	-	-	-	0.76
Other Investing Activities	0.51	0.51	3.4	12.3	1.74	-
Investing Cash Flow	-76.91	-81.07	-69.62	1,709	-160.09	-119.09
Long-Term Debt Issued	-	3,586	3,378	4,022	4,169	4,400
Long-Term Debt Repaid	-	-3,531	-3,609	-5,946	-4,327	-4,786
Net Debt Issued (Repaid)	139.07	55.35	-231.42	-1,924	-158.68	-386.94
Common Dividends Paid	-207.85	-211.84	-129.95	-205.8	-260.94	-319.09
Other Financing Activities	-19.14	-24.95	-0.44	-2.44	-2.21	-13.1
Financing Cash Flow	-87.92	-181.44	-361.8	-2,132	-421.83	-719.13
Net Cash Flow	-105.55	-535.09	-319.76	-1,161	867.64	-1,187
Free Cash Flow	-21.59	-356.14	38.57	-891.32	1,305	-468.58
Free Cash Flow Margin	-0.34%	-4.93%	0.42%	-8.42%	11.18%	-3.15%
Free Cash Flow Per Share	-0.03	-0.48	0.05	-1.20	1.76	-0.63
Cash Income Tax Paid	1,078	1,295	1,662	1,871	2,248	2,626
Levered Free Cash Flow	64.79	-326.72	-185.52	1,141	1,607	-93.24
Unlevered Free Cash Flow	64.79	-326.72	-105.42	1,271	1,753	70.65
Change in Working Capital	-609.8	-609.8	-733.3	-894.61	926.74	-1,100

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