SHE:001296 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	142.27	121.24	135.81	71.92	96.43	119.58
Depreciation & Amortization	57.18	57.18	53.82	46.99	41.77	33.29
Other Amortization	0.95	0.95	0.15	0.23	0.19	0.22
Loss (Gain) From Sale of Assets	-0.32	-0.32	-7.51	-0.57	-0.07	-0.07
Asset Writedown & Restructuring Costs	0.14	0.14	0.01	0.54	0.03	9.26
Loss (Gain) From Sale of Investments	-4.48	-4.48	-3.38	-5.85	-0.12	-1.25
Provision & Write-off of Bad Debts	3.62	3.62	4.8	7.38	-3.02	-
Other Operating Activities	73.28	7.75	4.42	4.15	6.71	0.77
Change in Accounts Receivable	1.19	1.19	-113.58	-165.45	16.64	-119.95
Change in Inventory	-19.46	-19.46	-17.64	-4.31	7.15	-55.38
Change in Accounts Payable	11.34	11.34	-21.47	51.17	-32.76	31.98
Operating Cash Flow	264.88	178.31	37.54	-6.09	132.27	19.91
Operating Cash Flow Growth	33.27%	374.96%	-	-	564.38%	-83.15%
Capital Expenditures	-147.27	-111.46	-129.57	-62.42	-	-56.81
Sale of Property, Plant & Equipment	1.04	0.69	11.3	0.98	0.5	0.66
Cash Acquisitions	-	-	-	-	-96.83	-
Investment in Securities	-26.66	-167.21	89.34	-240.38	-	-20
Other Investing Activities	17.09	15.08	18.92	-20	0.12	1.25
Investing Cash Flow	-155.8	-262.9	-10.02	-321.81	-96.21	-74.9
Long-Term Debt Issued	-	83.43	106.01	3.93	20.52	23.9
Total Debt Issued	78.24	83.43	106.01	3.93	20.52	23.9
Long-Term Debt Repaid	-	-64.21	-4.43	-32.32	-15.33	-1
Total Debt Repaid	-43.23	-64.21	-4.43	-32.32	-15.33	-1
Net Debt Issued (Repaid)	35.01	19.23	101.58	-28.39	5.19	22.9
Issuance of Common Stock	-	-	-	-	474.87	-
Repurchase of Common Stock	-52.43	-52.43	-	-	-	-
Common Dividends Paid	-61.83	-45.7	-12.13	-33.57	-0.98	-0.52
Dividends Paid	-61.83	-45.7	-12.13	-33.57	-0.98	-0.52
Other Financing Activities	17.77	0.04	1.8	-10.89	-2.94	3.39
Financing Cash Flow	-61.48	-78.87	91.25	-72.85	476.13	25.77
Foreign Exchange Rate Adjustments	0.01	0.03	0.06	0.11	-0.02	-0.06
Net Cash Flow	47.6	-163.43	118.83	-400.64	512.18	-29.28
Free Cash Flow	117.61	66.86	-92.03	-68.5	132.27	-36.91
Free Cash Flow Margin	10.08%	6.39%	-9.13%	-7.24%	14.17%	-3.90%
Free Cash Flow Per Share	0.80	0.45	-0.62	-0.46	1.18	-0.33
Cash Income Tax Paid	33.37	28.99	26.02	62	74.64	55.92
Levered Free Cash Flow	138	103.36	-148.77	-64.19	176.42	-
Unlevered Free Cash Flow	140.82	105.81	-147.33	-63.17	177.36	-
Change in Working Capital	-7.75	-7.75	-150.59	-130.88	-9.63	-141.9

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.