SHE:000931 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	51.45	53.59	48.57	-39.58	-113.93	25.43
Depreciation & Amortization	198.71	198.71	174.35	138.68	123.33	84.99
Other Amortization	47.27	47.27	45.72	32.27	29.13	23.42
Loss (Gain) From Sale of Assets	-6.3	-6.3	-1.19	0.03	-0.05	0.35
Asset Writedown & Restructuring Costs	0.9	0.9	0.4	0.94	1.52	0.25
Loss (Gain) From Sale of Investments	3.21	3.21	10.58	0.49	-0.08	-2.37
Provision & Write-off of Bad Debts	17.82	17.82	25.36	37.05	-	-
Other Operating Activities	47.95	102.26	73.53	100.44	102.29	98.9
Change in Accounts Receivable	-18.36	-18.36	-191.01	41.54	80.07	-339.77
Change in Inventory	63.46	63.46	-30.68	-19.88	262.55	12.02
Change in Accounts Payable	-338.1	-338.1	64.84	-100.98	-220.96	294.25
Operating Cash Flow	71.16	127.6	218.3	183.74	263.41	200.2
Operating Cash Flow Growth	-50.58%	-41.55%	18.81%	-30.25%	31.57%	21.95%
Capital Expenditures	-117.76	-113.42	-67.32	-64.29	-68.53	-138.31
Sale of Property, Plant & Equipment	4.72	4.19	0.44	0.47	0.32	1.61
Cash Acquisitions	-0	-17.6	-50.64	-2.94	-21.06	-2
Divestitures	-	-	0.05	-0	-0.09	2
Investment in Securities	0.01	0.01	-	-	-	-3
Other Investing Activities	-	-	-	0.67	0.59	0.72
Investing Cash Flow	-113.03	-126.82	-117.47	-66.09	-88.77	-138.98
Long-Term Debt Issued	-	467	427	448	404.5	522.11
Long-Term Debt Repaid	-	-471.99	-422.41	-504.76	-570.25	-577.34
Net Debt Issued (Repaid)	81.25	-4.99	4.59	-56.76	-165.75	-55.23
Issuance of Common Stock	0.03	-	-	-	-	-
Common Dividends Paid	-23.77	-28.85	-32.82	-40.59	-35.99	-57.05
Other Financing Activities	-13.08	-14.04	-6.46	-66.29	-9.23	1.73
Financing Cash Flow	44.42	-47.88	-34.69	-163.64	-210.98	-110.55
Foreign Exchange Rate Adjustments	-	0	-0	0	-0	-0
Net Cash Flow	2.55	-47.09	66.14	-45.99	-36.34	-49.33
Free Cash Flow	-46.6	14.18	150.98	119.46	194.88	61.89
Free Cash Flow Growth	-	-90.61%	26.39%	-38.70%	214.88%	201.19%
Free Cash Flow Margin	-1.88%	0.56%	6.63%	5.80%	9.96%	3.46%
Free Cash Flow Per Share	-0.06	0.02	0.20	0.16	0.26	0.08
Cash Interest Paid	2.02	2.02	1.47	1.94	1.2	2.6
Cash Income Tax Paid	270.91	274.63	265.31	220.19	230.03	198.28
Levered Free Cash Flow	126.3	224.27	120.99	222.23	375.23	148.02
Unlevered Free Cash Flow	156.52	257.92	157.74	263.31	416.49	185.05
Change in Working Capital	-289.86	-289.86	-159.03	-86.58	121.2	-30.77

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.