SHE:001257 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
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	897.8	883.92	756.8	619.18	343.89
Depreciation & Amortization	39.12	39.12	56.61	78.5	129.37
Other Amortization	-	-	-	10.18	6.93
Loss (Gain) From Sale of Assets	-	-	-	-2.7	6.14
Asset Writedown & Restructuring Costs	-	-	-	-2	7.43
Loss (Gain) From Sale of Investments	-	-	-	-20.7	-4.98
Provision & Write-off of Bad Debts	-	-	-	-10.7	12.98
Other Operating Activities	1.6	-14.45	256.11	155.23	168.45
Change in Accounts Receivable	-	-	-	-334.95	-530.63
Change in Inventory	-	-	-	-477.84	-66.5
Change in Accounts Payable	-	-	-	349.9	214.71
Change in Other Net Operating Assets	-	-	-	75.74	59.89
Operating Cash Flow	938.53	908.59	1,070	450.4	346.73
Operating Cash Flow Growth	108.38%	-15.05%	137.46%	29.90%	-
Capital Expenditures	-667.08	-648.18	-552.84	-410.02	-293.83
Sale of Property, Plant & Equipment	3.61	3.61	0.36	5.38	2.02
Divestitures	-	-	-	-	-13.15
Investment in Securities	55	150	-146.36	108.23	-31.77
Other Investing Activities	13	13.81	77.69	7.47	-3.62
Investing Cash Flow	-595.47	-480.77	-621.15	-288.95	-340.36
Short-Term Debt Issued	-	-	-	22	102.83
Long-Term Debt Issued	-	523.32	629	972.5	1,738
Total Debt Issued	523.32	523.32	629	994.5	1,841
Short-Term Debt Repaid	-	-	-	-107.01	-147.23
Long-Term Debt Repaid	-	-650.4	-772	-865.65	-1,008
Total Debt Repaid	-647.89	-650.4	-772	-972.66	-1,155
Net Debt Issued (Repaid)	-124.57	-127.08	-143	21.84	685.88
Issuance of Common Stock	1,596	-	-	680	-
Common Dividends Paid	-18.17	-22.31	-28.23	-35.95	-84.37
Other Financing Activities	-80.65	-82.78	-153.12	-4.66	-696.09
Financing Cash Flow	1,373	-232.17	-324.35	661.24	-94.58
Net Cash Flow	1,716	195.65	124.03	822.69	-88.21
Free Cash Flow	271.45	260.41	516.69	40.38	52.9
Free Cash Flow Growth	572.25%	-49.60%	1179.60%	-23.66%	-
Free Cash Flow Margin	7.80%	7.43%	18.04%	2.06%	2.77%
Free Cash Flow Per Share	0.17	0.16	0.32	0.03	0.05
Cash Income Tax Paid	952.6	952.6	604.59	440.54	355.05
Levered Free Cash Flow	-	180.5	563.37	-391.61	-
Unlevered Free Cash Flow	-	191.28	582.63	-354.04	-
Change in Working Capital	-	-	-	-376.61	-323.49

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