SHE:001213 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	566.76	666.86	627.01	418.17	390.74	352.97
Depreciation & Amortization	829.62	829.62	783.84	720.62	702.75	578.63
Other Amortization	28.85	28.85	15.25	2.68	1.66	0.89
Loss (Gain) From Sale of Assets	-2.55	-2.55	-0.28	-0.47	-0.28	-1.92
Asset Writedown & Restructuring Costs	-70.96	-70.96	-3.15	-23.16	-4.95	21
Loss (Gain) From Sale of Investments	-27.88	-27.88	-39.41	-31.28	-28.82	-13.27
Provision & Write-off of Bad Debts	-	-	-0.05	0.03	0.02	-0
Other Operating Activities	665.65	11.85	22.52	17.94	19.45	5.94
Change in Accounts Receivable	-1,403	-1,403	-105.5	-410.34	-275.82	401.71
Change in Inventory	2.47	2.47	-3.38	-4.84	-6.28	-17.48
Change in Accounts Payable	-109.41	-109.41	47.27	114.08	-67.92	344.02
Operating Cash Flow	487.23	-66.47	1,346	800.91	729.98	1,671
Operating Cash Flow Growth	147.79%	-	68.08%	9.72%	-56.32%	132.77%
Capital Expenditures	-1,944	-438.01	-753.23	-645.53	-615.44	-720.3
Sale of Property, Plant & Equipment	50.95	102.67	15.36	39.77	8.47	1.99
Investment in Securities	-	-	-	-	2.15	-
Other Investing Activities	19.17	4.2	42.44	9.74	-	21.53
Investing Cash Flow	-1,874	-331.15	-695.43	-596.02	-604.82	-696.77
Long-Term Debt Repaid	-	-128.14	-128.9	-106.92	-108.46	-
Net Debt Issued (Repaid)	-128.14	-128.14	-128.9	-106.92	-108.46	-
Issuance of Common Stock	-	-	-	-	1,735	-
Common Dividends Paid	-271.11	-257.78	-164.44	-103.56	-	-
Other Financing Activities	-16.36	-	-0.03	-0.1	-8	-
Financing Cash Flow	-415.62	-385.92	-293.37	-210.58	1,619	-
Net Cash Flow	-1,803	-783.54	357.37	-5.69	1,744	974.33
Free Cash Flow	-1,457	-504.49	592.95	155.38	114.53	950.8
Free Cash Flow Growth	-	-	281.62%	35.66%	-87.95%	-
Free Cash Flow Margin	-12.29%	-4.48%	5.55%	1.64%	1.29%	11.24%
Free Cash Flow Per Share	-0.39	-0.11	0.13	0.03	0.03	0.24
Cash Interest Paid	-	-	-	-	0.32	-
Cash Income Tax Paid	321.41	345.52	284.46	221.67	295.38	199.38
Levered Free Cash Flow	-1,463	-111.9	596.97	-171.23	115.91	596.47
Unlevered Free Cash Flow	-1,458	-104.57	607.43	-160.27	128.37	596.47
Change in Working Capital	-1,502	-1,502	-59.55	-303.61	-350.6	726.86

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