SHE:000882 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-146.43	20.33	27.58	-189.01	-176.94	22.97
Depreciation & Amortization	384.11	384.11	334.42	279.57	297.53	82.02
Other Amortization	117.24	117.24	112.42	98.97	97.05	99.27
Gain (Loss) on Sale of Assets	-0.16	-0.16	0.1	-8.49	-0.92	0.46
Gain (Loss) on Sale of Investments	-93.89	-93.89	-26.69	14.9	-153.21	-348.24
Asset Writedown	0.12	0.12	12.93	42.9	5.94	20.41
Change in Accounts Receivable	136.52	136.52	-77.84	-20.73	83	209.24
Change in Other Net Operating Assets	-159.5	-159.5	195.12	61.19	81.41	104.15
Other Operating Activities	191.08	278.5	264.82	244.67	300.9	167.17
Operating Cash Flow	458.05	712.24	821.1	489.96	751.24	343.12
Operating Cash Flow Growth	-42.87%	-13.26%	67.58%	-34.78%	118.94%	54.91%
Acquisition of Real Estate Assets	-56.16	-275.67	-186.11	-253.84	-70.74	-256.79
Sale of Real Estate Assets	0.02	0.22	1.97	4.5	45.2	-
Net Sale / Acq. of Real Estate Assets	-56.14	-275.45	-184.14	-249.33	-25.54	-256.79
Cash Acquisition	191.44	-1	-	-2.31	2.35	-1.37
Investment in Marketable & Equity Securities	158.94	81.47	58.54	30.3	-32.53	2,042
Other Investing Activities	79.93	135.7	119.57	365.34	322.59	505.25
Investing Cash Flow	420.82	-42.72	-6.03	144.04	281.27	2,479
Short-Term Debt Issued	-	-	-	55.33	84.43	-
Long-Term Debt Issued	-	1,458	565	355.81	493.89	406.42
Total Debt Issued	893.65	1,458	565	411.13	578.32	406.42
Short-Term Debt Repaid	-	-	-173.64	-	-	-
Long-Term Debt Repaid	-	-1,697	-1,266	-824.68	-1,505	-2,880
Total Debt Repaid	-1,805	-1,697	-1,439	-824.68	-1,505	-2,880
Net Debt Issued (Repaid)	-911.57	-239.89	-874.15	-413.55	-926.83	-2,474
Repurchase of Common Stock	-30.2	-30.2	-	-	-	-
Common Dividends Paid	-68.93	-76.42	-61.28	-90.44	-101.09	-155.2
Other Financing Activities	-181.83	-236.1	-2.26	-3.8	-0.08	0.59
Foreign Exchange Rate Adjustments	5.13	2.5	12.8	-5.56	-0.32	-30.32
Net Cash Flow	-308.52	89.41	-109.82	120.67	4.18	162.76
Cash Income Tax Paid	120.2	84.32	50.74	72.5	64.47	56.91
Levered Free Cash Flow	265.58	10.11	151.73	-2.97	198.96	719.69
Unlevered Free Cash Flow	427.7	178.39	314.6	140.5	370.42	830.71
Change in Working Capital	1.15	1.15	93.94	-1.63	375.5	297.18

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