SHE:001222 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	151.79	154.46	164.28	126.14	158.57	136.83
Depreciation & Amortization	32.06	32.06	25.5	20.01	18	15.54
Other Amortization	0.34	0.34	0.36	0.42	0.64	1.18
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.02	-0	-	0.02
Asset Writedown & Restructuring Costs	19.29	19.29	0.3	0.05	6.1	6.36
Loss (Gain) From Sale of Investments	-1.53	-1.53	-2.41	-0.14	-0.64	-1.58
Provision & Write-off of Bad Debts	-	-	4.65	4.89	-1.55	1.76
Other Operating Activities	22.19	1.94	30.33	14.87	0.69	19.23
Change in Accounts Receivable	-75.61	-75.61	-128.89	-52.12	33.45	-35.11
Change in Inventory	-24.49	-24.49	-118.91	-11.49	27.3	-69.7
Change in Accounts Payable	1.12	1.12	28.02	24.11	-119.04	46.84
Operating Cash Flow	116.44	98.86	-1.44	129.45	123.16	118.99
Operating Cash Flow Growth	127.31%	-	-	5.11%	3.50%	34.97%
Capital Expenditures	-122.77	-89.66	-87.48	-79.05	-95.48	-62.25
Sale of Property, Plant & Equipment	0.12	0.12	0.01	0.01	-	-
Cash Acquisitions	-	-	-	-1.52	-	-
Investment in Securities	44.27	35.77	-130.71	4	-18.22	17.52
Other Investing Activities	-2.45	-1.88	1.39	-1.6	-0.44	14.24
Investing Cash Flow	-80.83	-55.65	-216.78	-78.17	-114.14	-30.49
Long-Term Debt Issued	-	-	-	40	-	30
Long-Term Debt Repaid	-	-	-28.01	-24.3	-7.93	-77.17
Net Debt Issued (Repaid)	-	-	-28.01	15.7	-7.93	-47.17
Issuance of Common Stock	-	-	-	-	467.51	-
Repurchase of Common Stock	-	-	-30	-	-	-
Common Dividends Paid	-28.26	-28.26	-38.23	-54.66	-	-0.32
Other Financing Activities	14.34	13.46	-	1.2	-58.71	74.1
Financing Cash Flow	-13.92	-14.8	-96.24	-37.76	400.87	26.61
Foreign Exchange Rate Adjustments	-14.37	-10.38	13.6	15.02	30.83	-4.18
Net Cash Flow	7.33	18.02	-300.85	28.55	440.72	110.94
Free Cash Flow	-6.33	9.2	-88.92	50.4	27.68	56.74
Free Cash Flow Growth	-	-	-	82.10%	-51.22%	43.42%
Free Cash Flow Margin	-0.34%	0.53%	-6.79%	5.08%	2.90%	5.31%
Free Cash Flow Per Share	-0.03	0.05	-0.47	0.26	0.17	0.40
Cash Income Tax Paid	-	-15.84	-25.45	-30.31	-30.82	-50.11
Levered Free Cash Flow	52.53	-71.76	-163.27	-5.28	-43.45	-15.66
Unlevered Free Cash Flow	52.53	-71.76	-163.08	-4.81	-43.41	-15.51
Change in Working Capital	-107.69	-107.69	-224.45	-36.78	-58.65	-60.35

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