SHE:000970 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	12.01	275.31	847.86	398.88
Depreciation & Amortization	191.28	165.26	157.45	137.84
Other Amortization	14.48	11.23	8.99	2.88
Loss (Gain) From Sale of Assets	6.19	1.18	-11.01	-0.1
Asset Writedown & Restructuring Costs	0.03	3.94	0.66	1.37
Loss (Gain) From Sale of Investments	3.65	-29.97	-24.41	-17.97
Provision & Write-off of Bad Debts	-3.41	-9.64	26.6	8.43
Other Operating Activities	179.05	201.61	249.15	178.24
Change in Accounts Receivable	356.66	586.7	-738.55	-581.11
Change in Inventory	488.53	186	-562.43	-1,483
Change in Accounts Payable	138.19	54.96	-323.56	918.46
Change in Other Net Operating Assets	-	-	-	-218.89
Operating Cash Flow	1,326	1,431	-389.55	-653.5
Operating Cash Flow Growth	-7.32%	-	-	-
Capital Expenditures	-214.97	-420.45	-562.8	-338.01
Sale of Property, Plant & Equipment	4.55	2.91	3.39	2.79
Divestitures	-	-	108.66	-
Investment in Securities	-40.59	-62	-33.25	-28.56
Other Investing Activities	-8.21	-45.3	-6.31	-
Investing Cash Flow	-259.22	-524.83	-490.31	-363.78
Long-Term Debt Issued	498.99	1,419	1,991	1,249
Total Debt Issued	498.99	1,419	1,991	1,249
Long-Term Debt Repaid	-1,259	-1,901	-963.76	-608.34
Total Debt Repaid	-1,259	-1,901	-963.76	-608.34
Net Debt Issued (Repaid)	-759.8	-481.87	1,027	640.96
Repurchase of Common Stock	-107.96	-	-	-
Common Dividends Paid	-96.14	-176.08	-156.95	-74
Other Financing Activities	-29.54	-31.21	769.24	20.74
Financing Cash Flow	-993.43	-689.16	1,639	587.69
Foreign Exchange Rate Adjustments	27.02	31.47	54.96	-26.89
Net Cash Flow	100.44	248.22	814.18	-456.48
Free Cash Flow	1,111	1,010	-952.35	-991.51
Free Cash Flow Growth	9.98%	-	-	-
Free Cash Flow Margin	16.46%	12.09%	-9.80%	-13.88%
Free Cash Flow Per Share	0.92	0.83	-0.80	-0.93
Cash Income Tax Paid	-123.93	-242.52	-239.15	-248.49
Levered Free Cash Flow	1,022	683.17	-1,420	-1,014
Unlevered Free Cash Flow	1,046	718.15	-1,384	-991.48
Change in Working Capital	922.79	811.82	-1,645	-1,363

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.