SHE:001258 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	53.35	50.18	135.22	196.01	142.48	117.89
Depreciation & Amortization	398.31	398.31	318.88	291.45	272.43	0.04
Other Amortization	1.2	1.2	0.38	0.41	0.35	-
Loss (Gain) on Sale of Assets	-0.28	-0.28	-0.05	-0.16	-0.15	-
Loss (Gain) on Sale of Investments	-	-	-1.45	-2.17	-1.53	-
Asset Writedown	-	-	0.01	78.1	104.59	-
Change in Accounts Receivable	-474.18	-474.18	-81.08	-60.81	-383.99	-
Change in Inventory	-0.06	-0.06	-0.33	-	0.44	-
Change in Accounts Payable	34.91	34.91	-232.77	132.21	108.12	-
Change in Other Net Operating Assets	2.15	2.15	-2.22	2.22	-	-
Other Operating Activities	384.64	194.73	186.76	201.01	205.79	179.73
Operating Cash Flow	549	355.92	503.96	812.25	436.89	297.66
Operating Cash Flow Growth	45.43%	-29.38%	-37.96%	85.92%	46.77%	-16.84%
Capital Expenditures	-2,345	-3,790	-1,154	-1,740	-585.89	-1,065
Sale of Property, Plant & Equipment	-	-	-	0.12	0.78	-
Cash Acquisitions	-	-	-29.25	-	-	-
Divestitures	-	-	5	-	-	-
Investment in Securities	-482.97	-805.17	60	-60	-1.54	-
Other Investing Activities	-32.39	-17	18.32	-9.18	1.53	2.76
Investing Cash Flow	-2,860	-4,612	-1,100	-1,809	-585.12	-1,063
Long-Term Debt Issued	-	5,019	1,387	1,854	1,262	1,594
Long-Term Debt Repaid	-	-728.75	-1,186	-779.6	-857.08	-322.46
Net Debt Issued (Repaid)	1,474	4,290	200.72	1,074	405.27	1,271
Issuance of Common Stock	-	-	-	740.65	1	261.18
Common Dividends Paid	-263	-295.14	-266.64	-219.53	-204.03	-158.45
Other Financing Activities	1,566	-2.41	-8.34	-18.72	135.24	-472.62
Financing Cash Flow	2,777	3,993	-74.26	1,576	337.49	901.33
Net Cash Flow	466.22	-263.96	-670.2	579.57	189.26	136.34
Free Cash Flow	-1,796	-3,434	-650	-927.8	-149	-767.75
Free Cash Flow Margin	-180.06%	-353.81%	-65.67%	-105.22%	-18.45%	-117.54%
Free Cash Flow Per Share	-1.76	-3.42	-0.67	-1.18	-0.21	-1.24
Cash Income Tax Paid	145.83	160.15	136.6	102.48	43.5	27.96
Levered Free Cash Flow	153.43	-3,148	-841.27	-1,383	-472.22	-954.94
Unlevered Free Cash Flow	275.99	-3,027	-725.11	-1,257	-343.66	-845.15
Change in Working Capital	-455.63	-455.63	-346.99	47.61	-287.08	-

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