SHE:000929 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	-50.26	-99.87	-46.72	-29.24	19.11	-29.89
Depreciation & Amortization	15.45	15.45	18.44	21.42	21.54	23.41
Other Amortization	0.32	0.32	-	-	-	-
Loss (Gain) From Sale of Assets	-0.05	-0.05	-0	-0	0.06	-0.07
Asset Writedown & Restructuring Costs	93.34	93.34	99.85	0.31	0.1	0.14
Loss (Gain) From Sale of Investments	-61.43	-61.43	-81.69	19	-79.12	9.7
Provision & Write-off of Bad Debts	0.04	0.04	-0.56	0.29	0.16	0.69
Other Operating Activities	-225.39	-64.03	-29.75	-37.67	-14.84	-35.28
Change in Accounts Receivable	14.74	14.74	42.93	0.53	-8.58	10.58
Change in Inventory	6.22	6.22	10.51	37.88	-257.04	31.1
Change in Accounts Payable	-26.97	-26.97	-45.65	21.46	94.53	-30.63
Operating Cash Flow	-196.56	-84.81	-34.51	28.41	-220.5	-25.94
Capital Expenditures	-32.4	-3.12	-2.35	-5.96	-10.81	-9.3
Sale of Property, Plant & Equipment	0.79	0.68	-	0.05	0.53	0.23
Divestitures	-	-	-	-	58.11	-
Investment in Securities	171.5	47.99	25.27	-32.44	-71.24	-0.76
Other Investing Activities	62.05	36.25	32.42	33.38	30.19	31.28
Investing Cash Flow	201.94	81.8	55.33	-4.97	6.8	21.45
Short-Term Debt Issued	-	202.12	28	37	313.4	116
Total Debt Issued	131.34	202.12	28	37	313.4	116
Short-Term Debt Repaid	-	-196.08	-46	-70	-142	-109
Total Debt Repaid	-100.34	-196.08	-46	-70	-142	-109
Net Debt Issued (Repaid)	31	6.04	-18	-33	171.4	7
Common Dividends Paid	-0.22	-	-	-	-	-
Other Financing Activities	-37.34	-4.98	-2.09	-1.36	-2.41	-3.42
Financing Cash Flow	-6.56	1.06	-20.09	-34.36	168.99	3.58
Net Cash Flow	-1.18	-1.95	0.73	-10.91	-44.72	-0.91
Free Cash Flow	-228.96	-87.93	-36.86	22.46	-231.31	-35.24
Free Cash Flow Margin	-90.83%	-41.77%	-15.28%	8.43%	-74.97%	-11.49%
Free Cash Flow Per Share	-1.24	-0.47	-0.20	0.12	-1.25	-0.19
Cash Interest Paid	0.58	0.58	2.09	1.36	2.41	3.81
Cash Income Tax Paid	18.54	30.69	44.32	27.3	52.8	42.27
Levered Free Cash Flow	-163.17	263.31	-342.48	87.67	-23.84	28.42
Unlevered Free Cash Flow	-162.78	263.68	-341.18	88.54	-22.33	30.8
Change in Working Capital	31.4	31.4	5.91	54.32	-167.52	5.36

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