SHE:000965 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	80.57	16.85	20.04	23.3	49.51	-390.25
Depreciation & Amortization	46.7	46.7	40.63	36.81	34.49	31.92
Other Amortization	2.81	2.81	1.21	2.37	3.93	5.4
Loss (Gain) From Sale of Assets	0.28	0.28	-	0	0.05	-
Asset Writedown & Restructuring Costs	4.29	4.29	-	-	-	0
Loss (Gain) From Sale of Investments	-41.66	-41.66	-27.13	-9.01	8.57	-21.29
Provision & Write-off of Bad Debts	-29.33	-29.33	27.7	-4.65	16.58	3.22
Other Operating Activities	-722.19	385.55	373.82	438.22	423.83	718.41
Change in Accounts Receivable	553.94	553.94	-603.62	-55.35	557.11	-896.79
Change in Inventory	-1,297	-1,297	-555.8	607.75	-2,039	-665.47
Change in Accounts Payable	871.18	871.18	-249.29	-149.27	2,133	132.19
Change in Other Net Operating Assets	91.43	91.43	-283.98	-35.39	-80.92	-11.08
Operating Cash Flow	-322.08	721.94	-1,244	844.98	1,006	-1,120
Operating Cash Flow Growth	-	-	-	-15.98%	-	-
Capital Expenditures	-8.61	-10.39	-10.91	-1.58	-6.5	-0.34
Sale of Property, Plant & Equipment	-	-	-	0	0.02	0
Investment in Securities	38	-	137.98	-66	-139.07	-
Other Investing Activities	109.5	116.86	145.1	-489.11	3.36	2.86
Investing Cash Flow	138.89	106.47	272.17	-556.69	-142.18	2.52
Long-Term Debt Issued	-	2,995	2,060	2,062	3,078	1,646
Long-Term Debt Repaid	-	-2,726	-2,244	-1,970	-2,739	-658.74
Net Debt Issued (Repaid)	854.9	268.47	-184.33	91.86	338.06	987.75
Common Dividends Paid	-195.17	-221.21	-227.86	-223.69	-236.55	-150
Other Financing Activities	-24.16	-17.96	1,112	-	-830.14	-0.41
Financing Cash Flow	627.58	29.3	699.81	-131.83	-728.64	837.35
Net Cash Flow	444.38	857.71	-272.37	156.46	134.86	-280.42
Free Cash Flow	-330.69	711.55	-1,255	843.4	999.18	-1,121
Free Cash Flow Growth	-	-	-	-15.59%	-	-
Free Cash Flow Margin	-10.07%	28.12%	-40.98%	34.22%	39.33%	-136.78%
Free Cash Flow Per Share	-0.30	0.64	-1.13	0.76	0.90	-1.01
Cash Income Tax Paid	1,083	496.35	227.74	435.96	353.27	281.95
Levered Free Cash Flow	-632.58	341.21	-1,261	656.62	968.94	-2,254
Unlevered Free Cash Flow	-559.61	423.76	-1,172	780.6	1,081	-2,191
Change in Working Capital	336.45	336.45	-1,681	357.94	468.71	-1,468

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