SHE:000889 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	-26.5	-35.43	-125.3	-79.12	-2,005
Depreciation & Amortization	18.35	21.45	17.59	18.35	32.05
Other Amortization	2.29	3	7.66	8.31	14.96
Loss (Gain) From Sale of Assets	-	-	-	-0.02	-0.47
Asset Writedown & Restructuring Costs	-	0.15	0.58	18.91	410.2
Loss (Gain) From Sale of Investments	-	-	-	-	1,522
Provision & Write-off of Bad Debts	-	1.97	3.28	10.6	14.79
Other Operating Activities	4.88	0.6	-3.93	4.88	24.54
Change in Accounts Receivable	2.05	-96.22	30.54	2.61	-30.2
Change in Inventory	14	-4.29	11.75	3.11	-24.21
Change in Accounts Payable	27.3	53.58	6.23	-19.45	-51.17
Change in Other Net Operating Assets	-	-	-	0.29	-
Operating Cash Flow	40.41	-56.51	-47.6	-15.11	-95.33
Capital Expenditures	-9.98	-11.13	-36.39	-11.15	-19.53
Sale of Property, Plant & Equipment	0.6	0.07	0.49	0.66	5.01
Cash Acquisitions	-	-	-	-	-33.46
Divestitures	-	-	-	-	-49.26
Other Investing Activities	-	-	-	-	16.49
Investing Cash Flow	-9.38	-11.06	-35.9	-10.49	-80.75
Long-Term Debt Issued	161.01	59.44	50	127.56	190
Total Debt Issued	161.01	59.44	50	127.56	190
Long-Term Debt Repaid	-107.37	-74.14	-89.33	-211.12	-319.2
Total Debt Repaid	-107.37	-74.14	-89.33	-211.12	-319.2
Net Debt Issued (Repaid)	53.64	-14.7	-39.33	-83.56	-129.2
Issuance of Common Stock	-	-	-	0.65	-
Common Dividends Paid	-3.04	-	-2.83	-6.07	-29.11
Other Financing Activities	-3.01	-2.39	-	-	-
Financing Cash Flow	47.59	-17.09	-42.17	-88.97	-158.3
Net Cash Flow	78.63	-84.66	-125.67	-114.57	-334.39
Free Cash Flow	30.44	-67.64	-84	-26.26	-114.86
Free Cash Flow Margin	1.91%	-4.62%	-5.88%	-1.73%	-5.89%
Free Cash Flow Per Share	0.03	-0.07	-0.09	-0.03	-0.12
Cash Interest Paid	-	2.39	-	-	-
Cash Income Tax Paid	26.02	13.9	17.37	11.17	41.97
Levered Free Cash Flow	52.43	-57.2	-244.71	-39.14	270.81
Unlevered Free Cash Flow	52.43	-55.71	-243.4	-36	286.74
Change in Working Capital	41.39	-48.25	52.51	2.97	-108.96

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