SHE:001209 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	25.6	80.27	87.14	-14.99	102.01	133.72
Depreciation & Amortization	29.38	29.38	26.34	28.21	21.35	9.49
Other Amortization	3.84	3.84	3.72	3.62	3.35	4.07
Loss (Gain) From Sale of Assets	0.02	0.02	-0.1	-0.02	0.04	0.03
Asset Writedown & Restructuring Costs	0.07	0.07	0.05	0.28	24.78	20.55
Loss (Gain) From Sale of Investments	-1	-1	-2.64	-3.97	-3.09	-1.28
Provision & Write-off of Bad Debts	-0.83	-0.83	0.53	4.88	-	-
Other Operating Activities	112.39	34.61	24.98	34.11	1.07	-
Change in Accounts Receivable	33.28	33.28	-42.54	-13.62	-70.34	5.69
Change in Inventory	-55.3	-55.3	-296.52	51.12	-110.8	-8.38
Change in Accounts Payable	16.91	16.91	241	-13.57	54.15	38.9
Change in Other Net Operating Assets	-0.51	-0.51	-0.62	-3.07	4.43	-3.77
Operating Cash Flow	152.31	129.21	45.79	60.98	14.3	198.92
Operating Cash Flow Growth	127.90%	182.17%	-24.91%	326.56%	-92.81%	78.01%
Capital Expenditures	-96.7	-152.45	-186.16	-367.97	-66.45	-83.25
Sale of Property, Plant & Equipment	0.19	0.01	0.1	0.06	0.16	0.17
Cash Acquisitions	-	-	-	0.05	-	-
Investment in Securities	-	-	-	-	-0.24	-
Other Investing Activities	-13.63	1	-0.16	3.97	3.09	1.28
Investing Cash Flow	-110.13	-151.44	-186.23	-363.9	-63.44	-81.8
Long-Term Debt Issued	-	65.86	56.92	-	-	-
Total Debt Issued	47.44	65.86	56.92	-	-	-
Long-Term Debt Repaid	-	-11.43	-11.1	-7.22	-8.73	-
Total Debt Repaid	-11.6	-11.43	-11.1	-7.22	-8.73	-
Net Debt Issued (Repaid)	35.84	54.43	45.82	-7.22	-8.73	-
Issuance of Common Stock	-	-	-	-	701.78	-
Repurchase of Common Stock	-41.94	-41.94	-	-	-	-
Common Dividends Paid	-34.71	-15.55	-53.28	-	-46.97	-
Other Financing Activities	43.16	-	-	-	-62	-2.39
Financing Cash Flow	2.35	-3.06	-7.46	-7.22	584.08	-2.39
Net Cash Flow	44.53	-25.29	-147.89	-310.14	534.93	114.73
Free Cash Flow	55.61	-23.24	-140.36	-306.99	-52.15	115.67
Free Cash Flow Growth	-	-	-	-	-	89.20%
Free Cash Flow Margin	3.01%	-1.31%	-8.79%	-23.12%	-4.06%	10.22%
Free Cash Flow Per Share	0.42	-0.18	-1.06	-2.25	-0.46	1.17
Cash Income Tax Paid	121.35	116.99	89.59	73.94	109.88	99.01
Levered Free Cash Flow	66	-41.48	-155.6	-251.29	-88.38	93.51
Unlevered Free Cash Flow	67.95	-40.9	-155.12	-250.73	-87.71	93.51
Change in Working Capital	-17.17	-17.17	-94.23	8.86	-135.23	32.34

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