SHE:001216 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	225.54	205.02	179.51	170.95	137.08	117.99
Depreciation & Amortization	60.14	60.14	57.98	49.09	36.35	29.95
Other Amortization	1.13	1.13	0.86	0.77	0.5	1.36
Loss (Gain) From Sale of Assets	0.22	0.22	0.03	-0.26	0.13	-0.33
Asset Writedown & Restructuring Costs	18.72	18.72	17.12	21.33	9.83	6.96
Loss (Gain) From Sale of Investments	-14.05	-14.05	-14.13	-13.1	-2.01	-5.34
Other Operating Activities	140.97	-7.4	-1.55	-2.39	6.41	13.57
Change in Accounts Receivable	-15.04	-15.04	10.46	-31.05	-37.2	-10.69
Change in Inventory	-40.06	-40.06	-20.3	16.68	-70.04	2.8
Change in Accounts Payable	10.01	10.01	3.65	82.42	74.35	9.45
Change in Other Net Operating Assets	-	-	-	-	2.23	-
Operating Cash Flow	381.98	213.1	233.71	301.41	162.79	166.44
Operating Cash Flow Growth	80.19%	-8.82%	-22.46%	85.15%	-2.20%	102.67%
Capital Expenditures	-255.08	-128.01	-88.23	-145.5	-210.7	-74.36
Sale of Property, Plant & Equipment	0.34	0.34	0.87	0.95	1.65	0.6
Investment in Securities	261.52	-87.6	-140	10	-250	-
Other Investing Activities	7.86	8.48	18.58	9.1	0.28	0.35
Investing Cash Flow	14.63	-206.8	-208.77	-125.44	-458.77	-73.41
Long-Term Debt Issued	-	-	-	-	-	70
Long-Term Debt Repaid	-	-6.89	-6.83	-6.73	-5.23	-80
Net Debt Issued (Repaid)	-6.89	-6.89	-6.83	-6.73	-5.23	-10
Issuance of Common Stock	-	-	-	1.45	553.39	-
Common Dividends Paid	-94.46	-65.49	-52.89	-52.89	-	-0.64
Other Financing Activities	0.39	-	-	-2.47	-21.96	-1.47
Financing Cash Flow	-100.96	-72.38	-59.72	-60.65	526.21	-12.11
Foreign Exchange Rate Adjustments	-0.66	5.32	2.1	5.27	-2.96	-7.78
Net Cash Flow	294.99	-60.76	-32.69	120.59	227.26	73.15
Free Cash Flow	126.9	85.09	145.48	155.91	-47.91	92.08
Free Cash Flow Growth	-3.77%	-41.51%	-6.69%	-	-	23.93%
Free Cash Flow Margin	8.52%	6.35%	11.81%	11.30%	-3.98%	10.00%
Free Cash Flow Per Share	0.50	0.34	0.57	0.62	-0.24	0.48
Cash Income Tax Paid	60.89	36.96	27.75	-3.29	-18.66	8.7
Levered Free Cash Flow	-4.41	-18.02	80.59	100.5	-126.33	-
Unlevered Free Cash Flow	-4.02	-17.66	81.06	101	-126.03	-
Change in Working Capital	-50.68	-50.68	-6.12	75.02	-25.5	2.27

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