SHE:001299 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	98.97	87.3	81.81	94.22	101.5	96.1
Depreciation & Amortization	24.95	24.95	24.8	24.8	23.6	20.09
Other Amortization	0.76	0.76	-	-	-	-
Loss (Gain) on Sale of Assets	-1.8	-1.8	-	-	-0	-
Loss (Gain) on Sale of Investments	-22.78	-22.78	-21.06	-11.87	-21.35	-
Asset Writedown	0.28	0.28	0.12	0	1.64	-
Change in Accounts Receivable	9.4	9.4	-23.97	-8.07	-6.04	-
Change in Inventory	0.66	0.66	-1.86	6.4	3.26	-
Change in Accounts Payable	-5.57	-5.57	27.74	31.99	9.8	-
Change in Other Net Operating Assets	6.24	6.24	-	-	-	-
Other Operating Activities	-31.1	-0.78	-0.21	-0.04	0.1	10.16
Operating Cash Flow	81.12	99.76	91.71	138.18	112.25	126.36
Operating Cash Flow Growth	27.01%	8.78%	-33.63%	23.10%	-11.16%	9.17%
Capital Expenditures	-79.46	-73.86	-34.41	-27.47	-39.01	-42.29
Sale of Property, Plant & Equipment	3.65	9.51	0	-	0	0
Investment in Securities	138.56	-539.26	262.61	-104.15	-32.87	-52.32
Other Investing Activities	12.94	18.63	12.85	10.26	3.34	5.55
Investing Cash Flow	75.69	-584.98	241.05	-121.36	-68.53	-89.06
Long-Term Debt Repaid	-	-2.08	-1.63	-1.21	-1.59	-
Net Debt Issued (Repaid)	-2.08	-2.08	-1.63	-1.21	-1.59	-
Issuance of Common Stock	-	-	-	469.91	-	-
Repurchase of Common Stock	-46.32	-46.32	-	-	-	-
Common Dividends Paid	-181.95	-56.02	-	-	-	-5.06
Other Financing Activities	44.42	-	-1	-12.05	2.4	-
Financing Cash Flow	-185.93	-104.42	-2.63	456.65	0.81	-5.06
Net Cash Flow	-29.13	-589.64	330.13	473.47	44.53	32.23
Free Cash Flow	1.66	25.9	57.3	110.71	73.24	84.06
Free Cash Flow Growth	523.15%	-54.80%	-48.24%	51.15%	-12.87%	12.71%
Free Cash Flow Margin	0.22%	3.89%	9.95%	20.13%	15.28%	18.15%
Free Cash Flow Per Share	0.01	0.11	0.24	0.57	0.40	0.46
Cash Income Tax Paid	40.58	32.31	37.04	35.56	35.79	36.27
Levered Free Cash Flow	60.04	18.48	52.34	91.74	48.44	45.34
Unlevered Free Cash Flow	60.25	18.67	52.42	91.85	48.55	45.34
Change in Working Capital	10.15	10.15	1.98	29.87	6.78	-

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