SHE:001229 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	58.85	69.4	80.01	87.11	84.79	96.81
Depreciation & Amortization	15.82	15.82	6.55	5.49	5.55	7.38
Other Amortization	1.33	1.33	0.39	0.29	0.48	0.52
Loss (Gain) From Sale of Assets	0.94	0.94	-0.04	-	-0.02	0.06
Asset Writedown & Restructuring Costs	-0.09	-0.09	3.7	3.71	1.01	2.35
Loss (Gain) From Sale of Investments	-2.77	-2.77	-2.58	-1.94	-3.73	-1.81
Other Operating Activities	-22.57	1.9	-0.96	-0.58	-2.14	1.67
Change in Accounts Receivable	-7.46	-7.46	-8.98	-14.35	-1.33	-25.79
Change in Inventory	-0.46	-0.46	-0.56	7.44	-6.05	-7.48
Change in Accounts Payable	34.42	34.42	-1.65	0.66	0.56	6.52
Change in Other Net Operating Assets	6.61	6.61	-	6.37	6.29	6.22
Operating Cash Flow	84.08	119.09	74.84	93.52	85.01	86.11
Operating Cash Flow Growth	2.91%	59.13%	-19.98%	10.01%	-1.28%	18.06%
Capital Expenditures	-84.26	-116.79	-81.38	-71.25	-29.84	-167.73
Sale of Property, Plant & Equipment	14.73	14.73	-	-	-	0.14
Investment in Securities	70	-67	-53	55	-88	46.5
Other Investing Activities	10.94	3.08	3.12	10.12	-5.38	1.81
Investing Cash Flow	11.41	-165.98	-131.26	-6.13	-123.22	-119.27
Short-Term Debt Issued	-	-	-	-	-	9.94
Total Debt Issued	-	-	-	-	-	9.94
Short-Term Debt Repaid	-	-	-	-	-9.94	-
Long-Term Debt Repaid	-	-	-3.12	-4.58	-3.89	-2.83
Total Debt Repaid	-	-	-3.12	-4.58	-13.83	-2.83
Net Debt Issued (Repaid)	-	-	-3.12	-4.58	-13.83	7.11
Issuance of Common Stock	40.03	40.03	-	-	509.86	-
Common Dividends Paid	-60	-60	-60	-40	-0.18	-0.2
Other Financing Activities	-0.49	-1.01	-	-	-12.16	-3.48
Financing Cash Flow	-20.45	-20.98	-63.12	-44.58	483.69	3.42
Foreign Exchange Rate Adjustments	-3.28	-1.94	1.08	0.73	2.58	-0.45
Net Cash Flow	71.76	-69.8	-118.46	43.54	448.06	-30.18
Free Cash Flow	-0.18	2.3	-6.54	22.28	55.17	-81.62
Free Cash Flow Growth	-	-	-	-59.62%	-	-
Free Cash Flow Margin	-0.08%	1.00%	-3.33%	10.52%	28.18%	-34.61%
Free Cash Flow Per Share	-0.00	0.02	-0.07	0.22	0.66	-1.09
Cash Interest Paid	-	-	-	-	-	0.85
Cash Income Tax Paid	28.12	21.72	29.28	27.44	22.97	33.07
Levered Free Cash Flow	1.94	-	-36.23	-5.5	39.73	-108.13
Unlevered Free Cash Flow	1.94	-	-36.16	-5.41	39.96	-107.36
Change in Working Capital	32.58	32.58	-12.23	-0.55	-0.92	-20.87

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