SHE:000987 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	4,160	3,519	2,294	2,404	2,513	2,480
Depreciation & Amortization, Total	1,745	1,745	1,194	326.76	135.14	79.28
Gain (Loss) On Sale of Investments	-2,219	-2,219	-1,744	-2,895	-3,027	-2,006
Change in Accounts Receivable	14,394	14,394	-7,378	3,647	-7,938	-4,400
Change in Accounts Payable	-15,076	-15,076	17,623	6,121	3,154	-6,417
Other Operating Activities	4,012	3,638	3,598	4,039	3,434	3,572
Operating Cash Flow	7,151	6,136	16,442	13,386	-1,341	-7,276
Capital Expenditures	-1,911	-4,854	-25,322	-9,980	-1,255	-44.02
Cash Acquisitions	-	-	-	-336.78	-122.62	-
Investment in Securities	-2,013	-5,209	-1,713	-3,128	-5,881	-3,302
Other Investing Activities	3,148	1,850	1,459	1,382	1,071	1,015
Investing Cash Flow	-775.13	-8,214	-25,721	-12,063	-6,188	-2,331
Short-Term Debt Issued	-	5,388	11,588	6,038	5,738	8,730
Long-Term Debt Issued	-	57,092	69,976	69,305	49,725	59,980
Total Debt Issued	61,775	62,480	81,564	75,343	55,463	68,710
Short-Term Debt Repaid	-	-3,581	-12,088	-5,915	-5,318	-10,279
Long-Term Debt Repaid	-	-55,752	-59,045	-64,164	-41,915	-38,799
Total Debt Repaid	-61,045	-59,333	-71,134	-70,078	-47,233	-49,078
Net Debt Issued (Repaid)	729.85	3,146	10,430	5,265	8,230	19,632
Issuance of Common Stock	582.6	582.6	1,454	711.16	-	-
Repurchase of Common Stock	-500	-500	-100.2	-	-	-
Common Dividends Paid	-4,245	-4,234	-3,921	-3,921	-3,189	-3,128
Other Financing Activities	598.81	1,187	783.37	-585.55	1,269	1,736
Financing Cash Flow	-2,833	181.48	8,646	1,469	6,310	18,240
Foreign Exchange Rate Adjustments	9.53	-3.69	-16.87	-33.44	-1.99	0.33
Net Cash Flow	3,552	-1,901	-650.11	2,760	-1,220	8,633
Free Cash Flow	5,240	1,282	-8,880	3,406	-2,596	-7,320
Free Cash Flow Margin	146.93%	33.92%	-300.73%	32.79%	-26.14%	-78.10%
Free Cash Flow Per Share	1.04	0.26	-1.77	0.68	-0.52	-1.46
Cash Interest Paid	1,019	1,084	1,347	1,348	1,226	1,302
Cash Income Tax Paid	1,157	1,293	842.74	1,154	1,172	1,113

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